New Delhi, June 7 (IANS): Consumer VOICE, a leading consumer protection group, released a user survey report titled “Debunking Common Myths Surrounding Fantasy Sports Online.”
The report explores the impact of Online Fantasy Sports (OFS) on sports engagement and addresses some common myths surrounding OFS platforms. The survey received nearly 10,000 responses from users of various OFS platforms.
The report examines whether the actual perceptions of users of Online Fantasy Sports are in line with the myths that OFS platforms are addictive, potentially leading to negative societal impacts and causing users to fear financial loss. The aim of the report is to ensure that a representative voice of consumers is an integral part of the development of OFS as a product, its adoption and any future regulations.
The main findings of the survey are as follows:
88% of users said their interest in sports increased after participating in online fantasy sports contests.
81% of users agreed that by using the Online Fantasy Sports platforms they became more aware of sports other than cricket like kabaddi, hockey and handball.
85% of users agreed that being able to enter free contests allows them to participate without fear of financial loss.
Almost 90 percent of users said the terms of service for paid contests were easy to find and understand.
Over 73 percent of users spend more than 30 minutes researching stats and other information to build their Fantasy Sports online teams before a game.
The uniqueness of OFS platforms makes users more engaged in 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 secure and skills-based activity that increases their interest and engagement in the sport.
Ashim Sanyal, COO of Consumer VOICE, said: “The online fantasy sports industry has immense potential to contribute to the sports economy in India, however, the various myths surrounding it must be raised. ‘first be dispelled. This will provide a collaborative environment in which regulations can adequately protect the interests of consumers while allowing the industry to drive economic growth in a transparent and accountable manner. “
This report highlights the dissonance between how users of OFS platforms perceive fantasy sports versus the common myths surrounding them. Therefore, to ensure the continued and responsible growth of the OFS industry and the protection of the interests of end consumers, it is recommended that NITI Aayog’s draft guidelines on the regulation of online fantasy sports be formalized.
Consumer VOICE is one of the leading consumer organizations in India, working under the Department of Consumer Affairs‘ “Jago Grahak Jago” program alongside other government departments, regulatory bodies, standards organizations, global bodies and standing committees. of Parliament.