Fantasy Sports1 are online prediction games in which fantasy gamers (players) assemble a virtual team of real-life athletes from leagues such as the Indian Premier League (IPL), English Premier League (EPL), National Basketball Association (NBA), and others. These individuals are known as "Managers," and they lead a group of players in a certain league, earning points based on real-life statistics that are turned into fantasy points. Fantasy points are awarded to managers based on their players' performance in real-life sports. Managers compete against one another and their teams. To construct their squad, these managers oversee a roster by adding, trading, and selling players.
Fantasy sports can be divided into two categories. The first is a season-long draught system, and the second is daily World777 fantasy leagues, which are played by people all around the world.
The daily fantasy version is commonly used in Indian fantasy sports platforms such as Dream11 and My Circle 11. Managers pay an entry fee to participate in a contest, with the prize money set by the platform. In cricket, for example, points are won based on a range of statistics such as a batsman's runs, a bowler's wickets, and a fielder's catches/run-outs. Managers must choose a captain and vice-captain from among the 11 players, and their performance is usually rewarded with bonus points. The Manager with the most points at the end of the game wins the game.
In India, there are a number of well-known fantasy platforms
Many fantasy sports platforms were in the works in India, but it was Dream11 that broke through and popularised fantasy sports in the country. Other apps, such as MPL, My11 Circle, My Team 11, Fancode, Fancy11, Faboom, Fanfight, Guru 11, MPL, Balle Baazi, are vying for attention in an industry that is already booming with new participants. Dream 11 is the first Fantasy Sports platform in India to join the league of unicorns. They've also been in the vanguard of legal challenges, with numerous cases filed against them, some of which are still pending.
In India, how do "Fantasy Sports" work?
The Federation of Indian Fantasy Sports (FIFS)2 is India's self-regulatory fantasy sports industry body. The FIFS was established to defend the interests of consumers and to develop best practices for Fantasy Sports.
To be considered for approval by the Governing Council, an online fantasy sports platform (OFSP) must acquire and submit an evaluation and opinion from the FIFS Innovation Committee on the proposed tournament as a "game of skill." According to a recent Rajasthan High Court ruling4, FIFS currently boasts around 35 of the top fantasy sports organisations as members, which cater to 99 percent of fantasy sports players in India. A Charter for Online Fantasy Sports Platforms is also published by FIFS, which lays out the ground rules for members.
According to the charter, members must obtain a valid licence and authorization before using third-party intellectual property rights on their platform, such as player images, photographs, trademarks, and so on. To claim any official affiliation with any sport's governing organisation, player, team, or tournament, members must first secure a licence and authorisation. The Internet Mobile Association of India (IAMAI) standards for self-regulation of advertisements have also been approved by FIFS. 5
In India, there are legal difficulties surrounding online gaming
Fantasy Sports Regulation: Federal vs. State Laws
The Public Gaming Act, 18676 is a central regulation that forbids running or being in control of a public gambling business in India. State legislatures, on the other hand, have been given the right to enact state-specific betting and World777 gambling laws under the Indian Constitution. The State Governments have been given the authority to create legislation on betting and gaming under the Seventh Schedule to the Constitution of India7 (Entries 34 and 62 of List II).
Fantasy Sports, which are classified as games of skill, are classified as a different category, and state gambling laws (with the exception of Assam, Odisha, and Telangana) exempt games of skill from the definition of gambling.
