Scores11, owned by Toyam Industries Limited, becomes the latest gaming platform to launch its fantasy sports app.
Toyam Industries Limited established the fantasy gaming portal in June, earlier this year.
Mohamedali Budhwani, director of Scores11 and chairman and MD of Toyam Industries Ltd, is confident that Scores11 will carve out its own space in the competitive fantasy gaming market and become a favoured fantasy sports app among users.
Through a unique business model, Scores11 also enables users to create their own network and earn a commission as distributors.
The Mumbai-based firm currently allows users to create fantasy teams for cricket and football.
After the absence of sporting activities due to the pandemic, Scores11, like other fantasy sports firms, is eyeing to expand its user base with the arrival of the Indian Premier League (IPL) 2020 on September 19.
With an aim to popularise and promote the sport of mixed martial arts (MMA) in India, Toyam Industries Limited ventured into the field of sports in 2018 with Kumite 1 League, an MMA competition with boxing legend Mike Tyson as its brand ambassador.
They also launched the Kumite 1 Warrior Hunt in 2019, the first MMA talent hunt and reality TV show in India.
Scores11 is one of the several fantasy sports platforms to have emerged in recent times.
The fantasy sports market in India has expanded from 10 operators in 2016 to over 150 in 2020, according to a report by the Federation of Indian Fantasy Sports (FIFS) and KPMG.
The contest entry amount for these platforms almost trebled from INR 6,000 crore in FY19 to INR 16,500 crore in FY20. The user base has also seen a steep rise, growing to over 90 million in 2019 from a mere two million in 2016.