Chennai: IndiaTech.Org (TSIA) recently organised a session to discuss the impact of NITI Aayog guidelines on the Indian Fantasy Sports industry.
As a part of the session, stalwarts from the industry including Rameesh Kailasam, CEO, IndiaTech, Shwetasree Majumdar, Fidus Law Chambers and Bimal Julka, chairman, FIFS, recognised Fantasy Sports as an engagement platform distinguishing it from online gaming.
A press release here said, the panellists interpreted the draft guidelines and discussed the need to promote self-regulation in order to ensure transparency, accountability and help bring clarity to the Fantasy Sports industry.
Rameesh Kailasam said, “Such an effort would enable both the Centre and States to work in the direction of enabling this sunrise sector which is currently dependent on various court judgements for legitimacy to distinguish itself. With the absence of specific regulation, lack of policy clarity and discretionary interpretations by various State-wise regulatory regimes, the Online Fantasy Sports sector despite being acknowledged as a sunrise sector that engages with sports fans and enthusiasts suffers due to being misunderstood with many other forms of online games that are different. India also has a huge potential of creating more startups in this space that can take on the world”.
Bimal Julka, Chairman, Federation of Indian Fantasy Sports, said, “The emergence of multiple sports and leagues coupled with rapid improvement in digital infrastructure is witnessing many sports tech innovations. Currently, OFS operators are hosting fantasy sports tournaments for over 10 sports that not only include mainstream sports like Cricket and Football but also upcoming sports like Kabaddi, Volleyball, Handball, Baseball and so on. India has become the largest fantasy sports industry in the world, surpassing the US.”