Fantasy sports' revenue is likely to grow over three-fold to ₹25,240 crore by FY2027, a joint report by the Federation of Indian Fantasy Sports and Deloitte India said on Tuesday.
The report claimed that India is the fastest-growing FS (fantasy sports) market in the world with over 300 fantasy sports platforms (FSPs) and 18 crore users.
'The industry grew by 31 per cent to ₹6,800 crore in FY22. It is expected to touch ₹25,240 crore by FY27,' the report said.
According to the report, the FS industry attracted ₹15,000 crore in FDI till FY22, which is likely to touch ₹25,000 crore by FY27.
The report claimed that the FS industry contributed ₹4,500 crore by the way of taxes and is expected to reach ₹26,000 crore in the next 5 years.
'GST contributions from the fantasy sports industry are expected to increase by 5 times in the next 5 years, from ₹2,800 crore in FY18-FY22 to ₹14,700 crore between FY23 and FY27,' the report said