Mumbai: In the fast growing world of gaming there are several players in Fantasy Sport. Fantasy platform Fantasy Akhada, while being a late entrant, says that it has managed excellent growth. Backed by popular cricket commentator Harsha Bhogle, the company says that it is an initiative of hard core sports lovers who understand the fan and fantasy sports. Fantasy Akhada provides a platform, covering fantasy cricket, fantasy kabaddi, fantasy basketball and fantasy football, where users can come, play, and win contests.
The brand claims to have close to 2.5 million users currently. The platform has held 40 lakh contests and claims to have disbursed Rs 200 crore in cash winnings. Indiantelevision.com caught up with Fantasy Akhada founder Sumit Kumar Jha to find out more on the company’s plans.
Jha is an alumnus of leading universities like XLRI Jamshedpur and NIT Jamshedpur. Being a business enthusiast who strives for growth, he has a demonstrated history of experience in Product Management, Customer Analytics, Customer Life-Cycle Management, Loyalty Program Management, Mobile Internet, and P&L Management. Sumit Kumar Jha has profound domain knowledge and hands-on experience of over 8 years across different industries including Automobile, Telecom, Fashion & Retail industries and furthermore, earned 7 months of international project work experience.
He began his career with Tata Motors and after completing his MBA, joined the coveted Aditya Birla Group Leadership Program. He was deputed at Idea Cellular Limited (Now Vodafone Idea Limited) where he worked for 5 years prior to beginning his own venture-Fantasy Akhada. The rich experience that he gained in his professional journey has moulded a solid foundation of his entrepreneurial vision.
Edited excerpts:
On the traction that fantasy sports are getting vis-a-vis other areas of gaming and esports.
The love for cricket and the development of other sports, on the back of domestic leagues, has increased the level of interest in sports for all Indians. Fantasy sports share a very symbiotic relationship with live sports and thus the excitement of FS coupled with the love for sports is driving major growth in the Fantasy Sports market in India.
However, we believe that the growth of the overall gaming ecosystem will drive individual growths like fantasy sports, e-sports, etc. There must be an overall acceptance of the gaming community in Indian households; to ensure the next level of growth for this sunrise sector.
On the challenges that Fantasy Akhada faced as a late entrant
We believe that if we let the timing of entry into the industry bother us, Fantasy Akhada would not have been able to become one of the top five fantasy sports apps in the country. All of us, founders, were ardent fantasy sports users before launching Fantasy Akhada. We realised that there is a clear need for a platform that believed in the highest level of customer and sports centricity.
While we believed in our vision and the need for such a product, it took a lot of marketing push as well as the highest level of customer service to stand out amongst the clutter of the other 180 platforms. Post the IPL in 2022, on the back of a viral marketing campaign feat. Ali Fazal and Harsha Bhogle, we can confidently say that we have been able to make a significant mark in the space.
On the sports that the company is actively involved in
We currently provide customers with the opportunity to play four sports. The number was three until a week back; we added fantasy basketball in the first week of July. So as of today, Fantasy Akhada offers fantasy cricket, fantasy football, fantasy kabaddi and fantasy basketball.
On whether cricket dominates activity on the platform.
Cricket, no doubt, is by far the most loved sport on all Fantasy Sports platforms in the country. However, owing to our sports centricity, we have always done our 100 per cent towards each sport; and that shows in the numbers as well. Football, for example, contributes almost 15-20 per cent of our overall revenue and this has been made possible by hosting games, even in major leagues, that are exclusively available on Fantasy Akhada.
Kabaddi, also, was an excellent launch for us with the Pro Kabaddi League in December 2021. We are hoping to get some good traction on basketball as well, a sport that has been launched in response to rising customer demand.
On Fantasy Akhada’s USP is in a competitive arena where the entry barrier is very low
As mentioned earlier, our single biggest USP is customer-centricity. In the context of fantasy sports, it means doing the basic tasks well like instant withdrawal, 24*7 customer service to customer delight activities like international trips, regular leader boards with amazing prizes, etc.
Apart from this, we focus on our commitment to increasing sports engagement and ensure that all our marketing activities are in line with sports development.
On the impact of Covid on fantasy sports
Barring the first month of the worldwide lockdown, when the sport was either not happening or restricted to smaller leagues in countries like Belarus, etc. Covid has not had a very negative impact on our business.
Personally, for us at Fantasy Akhada, it was the time that we had just started, and it gave us the opportunity and time to work on a lot of things which we hadn’t envisaged before the launch. To summarise, we came out stronger and provided a better experience post with the initial Covid blip.
On the direction that regulation should take
We believe that more clarity on regulation will help the Industry grow multifold. The lack of clarity on the regulations hurts the business. We, along with other FS platforms, are working with the central government to build a well-structured framework that will help all platforms in the country.
On the role that Harsha Bhogle plays
Harsha Bhogle joined the Fantasy Akhada team in June 2020 as a brand ambassador and investor. Since then he has been, more than his role, a great mentor for the entire organisation. We have been lucky to have his guidance in various decisions and also his support in getting a lot of things done, which would have otherwise been very challenging for us.
On the activity seen on the platform during the recently concluded IPL
IPL is the highlight event for all FS platforms in India; primarily due to the love for cricket that the customers have and also the short duration of matches – which helps them rotate money quickly. Apart from the growth in value of transactions, it is one of the best times for user acquisition, not only for FS platforms but for brands across industries.
In terms of Fantasy Akhada, we had the biggest IPL, on the back of our first IPL campaign that went live on the Star Sports Network. The virality of the campaign, backed by our previously highlighted USPs, helped us catapult the growth of users to the next level. We had set out on a target of 100 per cent increase in our numbers over the two months of IPL, and we were able to comfortably achieve the same. Another great success has been that these users have stayed back with the platform post the IPL, increasing the overall base of our transactions.
On expansion plans abroad
Currently, we are present only in India – and allow only residents of India to play on our app. We have plans to spread our wings to other nations and currently, we are evaluating the right countries that fit our business and plans.
