With the advent of technology, online gaming has boomed. These days, online games and fantasy sports are not just for entertainment. You can use online games as a platform to get exciting rewards by exhibiting your skills. A new video game has been introduced every two years since 1950, making it the longest-running game. Learn How to Play Fantasy Sports and Online Games.
A Global Business Model for Online Gaming
Global gaming revenue is expected to reach $62 million in 2020. Statistically, the company will be worth $300 billion in 2026. Mobile games generate revenue worth $80 billion and almost 50% of the market share in the mobile gaming market. A family of online gaming involves streamliners, developers, publishers, online arenas, coaches, and 2.5 billion users around the globe.
In the past few years, online gaming start-ups have gained popularity in India and attracted over a million dollars in investments from domestic and foreign investors. US and China are evenly split between 24 % of each gaming platform, followed by the Asia-Pacific excluding China with 23 %, Latin America with 4%, Canada with 2%, and finally Europe, Africa, and the Middle East with 23 %.
The Indian government does not consider this online game legal despite its enormous success and large user base. Some Indian states have made fantasy sports illegal and consider them a form of gambling. In terms of both fantasy sports app development & fantasy sports app platforms, Pandemic has just doubled the growth of the online gaming and fantasy sports industry in India.
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To understand online gaming properly, the government should view it open-mindedly rather than treat all online games as gambling. The government should concentrate its efforts on gambling and betting but exclude fantasy sports. Although fantasy sports don’t generate vast amounts of revenue, they can generate huge economic growth for the government.
Different types of online gaming
Popular among sports fans as a gaming platform like dp boss. Virtual fantasy is an entirely different experience than any other gaming platform. A user can create an online team by selecting from real players on the ground. IPL is the most popular fantasy sports format in India. The player and real-life stats highly influence performance. Many users follow the sports scores and live matches on the fantasy Sports platforms and play the game. To win and play this game, you must be skilled and knowledgeable about the game. A government agency has published guidelines for fantasy sports. Fantasy sports can be played free or for money.
In addition to the industry’s growth, the number of users is also increasing rapidly. Fantasy platforms are considered gambling platforms by the government due to the money involved and the few cases occurring; therefore, they are not considered legal on a central level. The online fantasy platforms follow advertising Standards Council of India regulations.
Revenue and User base
According to Forbes, fantasy sports will generate $1.47 billion in revenue by 2020. Fantasy sports are played by almost 10 crore Indians and watched by more than 80 crores.
Playing Rummy online
Thousands of people around the world play Rummy online every day. Having memorized the discarded card and calculating the probability of winning the game is a skill necessary to play Rummy. All a player’s actions are determined by the cards that have not been distributed. There is both a free and paid version. The winner depends on the player’s actions.
A smooth gaming platform will be made possible by the final guidelines of NITI Aayog for all online games involving money. It will be possible for online games to host numerous tournaments and generate large revenues once the government approves their application. It would be great if the government would legalize online gambling shortly.