A smorgasbord of applications around technologies like blockchain & AI, are rapidly expanding gaming formats and enthusiasts are being found in India’s hinterland is turning gaming into an opportunity that is ringing in the moolah for companies. Add to it the opportunity of predictive gaming, and the ring of the $$$ could turn louder
An integral aspect in the arena of sports is the passionate involvement of fans with their idols and games, especially in a country like India, where certain sports are treated more like religion.
It has been more apparent in recent years as real-time predictive gaming event is the latest buzzword on the sports business landscape. It involves audience engagement in every moment of the game, aided by a handy smartphone that are aided by artificial intelligence (AI) and evolving algorithms that allows for on-the-go dedicated entertainment experiences. All that it takes is a few taps on a screen to enable streaming matches, checking and predicting scores, scanning sports-related news and articles, or building a fantasy team. For the sports buffs, it presents an opportunity to consistently interact with the game on various social platforms.
Given the popularity of instant digital access to sports, it is no wonder that gaming has prospered into one of the most profitable entertainment industries in the world. This is music to the ears of India’s $930 million gaming industry. What’s more, the mobile technology boom has fundamentally changed the industry and benefitted a new generation of gamers. Notably, the gaming industry has primarily gained traction because of affordable mobile phone proliferation, high-speed internet and dipping data prices.
A prediction game allows users to guess the outcome of future events, and it is generally operated online. Points are awarded to players who most accurately predict the outcome of an event, and those points are converted into cash prizes. These speculative games offer varying topics such as entertainment, sports, finance and current events.
Besides, predictive gaming websites have a clear-cut following from the same types of players who enjoy fantasy sports. Moreover, knowledge of team statistics and player rankings is said to be of great competitive advantage. India’s online gaming space is currently at $290 million. Significantly, around half of all smartphone users in India play mobile games. As per government statistics, out of the total Indian 760 million internet users, an estimated 365 million online players access their games by way of mobile phones.
The user base is projected to swell from 433 million in 2021 to 657 million in 2025 which is an over 50 percent increase. These include casual gamers, real-money gamers, online fantasy sports and e-sports. Additionally, some Indian companies are putting forward crypto-based earnings in e-sports competitions. Correspondingly, they are developing blockchain-based games where users can play to earn NFT – digitally stored data representing items like real estate and artwork.
Furthermore, the growth of predictive apps is part of a greater trend of companies seeking new solutions to building online communities. India is expected to become one of the world’s leading markets in the gaming industry. According to a KPMG report, growing exponentially for the last five years, the Indian market is expected to grow three-fold in value and reach $3.9 billion from the present $1.71 billion by 2025. Especially triggered by covid-19, the total number of online gamers grew 8 percent from 360 million in 2020 to 390 million in 2021. The pandemic led to the increased time spent gazing at screens, and the gaming industry benefited greatly from this craze.
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