It additionally stated solely 20 per cent subscribers pay to play the assorted video games on these platforms.
Furthermore, 98 per cent of the paid customers have both gained or misplaced lower than Rs 10,000 internet on a platform previously three-four years.
“Industry estimates point out that On-line Fantasy Sports activities platforms and operators cumulatively paid GST to the tune of approximate Rs 166 crore in monetary yr (FY) 2019 which elevated to Rs 445 crore roughly by FY 2020,” the IndiaTech whitepaper stated.
Moreover, these platforms deduct applicable TDS (tax deducted at supply) on winnings of the customers.
“As per trade estimates, the TDS on winnings in FY 2019 was to the tune of Rs 93 crore, which elevated to Rs 250 crore by FY 2020,” the paper stated.
In response to information collated by IndiaTech, 80 per cent of the contributors play on-line fantasy sports activities free of charge, whereas the remaining 20 per cent go for pay-to-play format.
Round 98 per cent of the paid gamers have both gained or misplaced lower than Rs 10,000 internet on an internet fantasy platform previously three-four years, in response to the whitepaper.
The common ticket dimension of participation within the pay-to-play format is normally as little as Rs 35.
In response to IndiaTech, the fantasy sports activities trade has attracted FDI of about Rs 1,500 crore and has been rising exponentially.
“In the previous couple of years, fantasy sports activities has actually develop into a potential sector that has carried out exceptionally properly and boosted the consumption of sports activities in India.
“There are a number of notion points the trade has to beat to succeed in its full potential as a non-addictive and skill-based platform,” IndiaTech CEO Rameesh Kailasam stated.
On-line fantasy sports activities firms elevated their headcount to three,400 workers in FY 2020, from 2,800 within the earlier fiscal, the whitepaper stated.
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