Wisdom Group has forayed into the online gaming segment with the launch of its fantasy gaming app called Wishgames11.
In the highly competitive fantasy sports market, it aims to grab people’s attention by offering them a platform that could help the people not just to play and get entertained but also to earn a living on a regular basis.
The new platform wants to help those that were severely impacted due to the COVID-19 pandemic.
"The global pandemic has left a lot of people in India unemployed, and earning a decent livelihood now seems quite challenging," said Deb Mukherjee, founder and CEO, Wisdom Group.
The Indian online gaming segment, including fantasy sports, was worth INR 6,500 crore in 2019 and would touch INR 18,700 crore in 2022, as per a report by the Federation of Indian Chambers of Commerce & Industry (FICCI) and consulting firm Ernst & Young (EY).
A plethora of new fantasy gaming platforms have emerged in the last three years, all vying to grab a piece of this highly lucrative sector.
"There is tremendous scope in the online gaming space and we are here to have our share of the pie," said Bharat Bansal, director, Wishgames11.
Headquartered in Noida, Wishgames11 claims to let users withdraw their winnings within 24 hours and give users referral bonuses and cashback.
Presently, fantasy gaming on Wishgames11 is only available for cricket, football, and hockey but the company is aiming to add more sports to its roster.
It is available on both Android and iOS platforms.
Before venturing into fantasy gaming, the Wisdom Group has investments in multiple sectors, including financial markets (Wisdom Capital), IT services (Wisdom Tree Ventures), customer relationship management (Wisdom CRM), insurance aggregation (Wisdom Policy).
Founded in 2013, the firm also has interests in the housing, and the food and beverages industry.