New Delhi: Consumer VOICE, a prominent consumer protection group, has published a user survey report, titled ‘De-mystifying Common Myths Surrounding Online Fantasy Sports’ https://consumer-voice.org/wp-content/uploads/2021/05/Debunking-Myths-Around-Online-Fantasy-Sports-June-2021.pdf
The report explores the impact of Online Fantasy Sports (OFS) on sports engagement and addresses some common myths surrounding OFS platforms. The survey received close to 10,000 responses from users of various OFS platforms.
The report examines whether the actual user perceptions of Online Fantasy Sports are in consonance with myths centered around OFS platforms being addictive, potentially resulting in negative societal impacts and making users fearful of incurring financial losses. The objective of the report is to ensure that a representative voice of consumers becomes an integral part of the development of OFS as a product, its adoption, and any forthcoming regulation.
Key findings from the survey include:
- 88% of the users reported that their interest in sports increased after participating in Online Fantasy Sports contests.
- 81% of the users agreed that by virtue of using Online Fantasy Sports platforms, they have become more aware of non-cricket sports like Kabaddi, Hockey, and Handball.
- 85% of the users agreed that the option of participating in free contests allowed them to participate without fear of incurring any financial loss.
- More than 73% of users spend over 30 minutes researching statistics and other information to make their Online Fantasy Sports teams before a match.
The uniqueness of OFS platforms makes users more engaged with a variety of sports and promotes their analytical abilities. This becomes a major reason to distinguish it from gambling/betting since the OFS platform format focuses on skill and not luck. With the terms and conditions made easily accessible, users perceive Online Fantasy Sports as a financially safe, skill-based activity that augments their interest and engagement with sports.
Ashim Sanyal, Chief Operating Officer of Consumer VOICE, said “Online Fantasy Sports industry has immense potential for contributing to India’s sports economy, however, the various myths surrounding it need to be dispelled first. This will provide for a collaborative environment in which regulations can adequately safeguard consumer interests while also allowing the industry to drive economic growth in a transparent and accountable manner.”