Australian Betting Company PlayUp Launches Real-Money Fantasy Games in India
The daily fantasy sports (DFS) platform DraftStars was acquired by PlayUp from CrownBet in April. It is now introducing this platform in India. A press release confirmed that PlayUp has come out with DraftStars.in, a fantasy sports site where the citizens of India can earn real money.
The site’s launch has met with an overwhelmingly positive response. 2,300 new users registered on the platform since the site’s launch last week. Fantasy Studio (India) Pvt Ltd, a Delhi-based company, is expected to control the operations of the website.
The press release acknowledged that PlayUp, the parent company to DraftStars had always enjoyed popularity among Indian audience, ranking as the 4th sport-related website in October 2018. India is famous for its enthusiasm for sports. The rapid growth of fantasy games has only reflected this trend.
The Indian Federation of Sports Gaming (IFSG) commissioned a report which shed light on the booming popularity of skill-based betting in India. Currently, home to over 20 million fantasy sports users, the number is projected to go up to 100 million by the end of 2020. The report also said that 89% of users played fantasy sports at least once a month.
DraftStars.in offers international and domestic cricket challenges as of now along with a few soccer offerings. It hopes to extend its offerings to basketball and kabaddi by the end of the year.
The web portal intends to integrate PlayUp’s very own digital currency – the PlayChip cryptocurrency on both the Australian and Indian platforms. The integration can be expected early on in the coming year. It would give users a lot of flexibility in terms of instant withdrawals, cash bet alternatives, more transparency, and fairer betting. The digital asset will be listed in two crypto exchanges – HitBTC and LATOKEN.
According to Venkatesh Iyengar, DraftStars’ Operation Manager for India, the Indian market is the fastest growing fantasy sports market in the world right now. PlayUp’s strong presence in the country made it a natural decision for them to launch the pay-to-play fantasy sports platform, DraftStars, here. The country already has various DFS operators in place which could complicate matters for DraftStars entry into the market. Other fantasy sports platforms that exist in India currently are Leagueadda, BalleBaazi, Dream11, Starpick, and Fanfight. The entry may be a little difficult, but the overall prospects for DraftStars look good so far.