- Xeta network has decided to enter into fantasy gaming space to create a casual gaming app called Dangal Games.
- Fantasy Gaming space is the booming segment of the gaming industry it will grow from 10 crores to 80 crores in the next coming two to three years.
- The Dangal Games will have 20 games that are to be launched in the coming days as all the products close to the launch date are being tested.
Xeta Networks, a big name in the gaming world that owns games like Poker Dangal and Rummy Dangal, is partnering with fantasy Dangal to enter into the fantasy sports segment. The launch of the game coincides with the Indian Premier League (IPL), which kicks off on 9th April. IPL is a big driver of user growth for fantasy sports platforms.
To get popularity and market share the company is planning to launch a casual gaming app called Dangal Games which will have various games in the app that can be played by gamers by simply clicking on any of the games available, To back up the expansion plan of the company, it is seeking to acquire funding from the market in the second quarter of FY22.
Co-founded by Varun Mahna, Varun Puri, Shashwat Jain, Karan Gandhi, and Manan Sobti, Dangal Games had acquired funding of Rs 2.5 crore in the first funding round led by An Angel Investor in July 2018.
Dangal Games CEO & Founder Varun Mahna, said, it Fantasy gaming space is a booming segment that has the potential to immense revenue for the company. According to top, his estimation, the fantasy gaming users in India will grow from 10 crores to 80 crores in the next coming two to three years.
“We are coming out with our first product in non-card space which is Fantasy Dangal. We believe that there is huge potential for fantasy sports in India. Everyone knows fantasy sports due to the rise of Dream11 and the kind of funding they have been able to raise. But as a sector, it is still very niche and too young,” he said.
Mahna expects fantasy sports to undergo a lot of changes as the sector grows and continues to expand. “We have always believed that there is clutter at the bottom and space at the top. Fantasy sports is synonymous with cricket but we have a firm belief that Indians follow all sorts of sports. We have lovers of football, hockey, kabaddi and there is space for these games to now start prospering in India. We want to utilize the current level of love that Indians have for sports and then translate that into a very loyal user base for Fantasy Dangal.”
After Fantasy Dangal, the company is ready to come up with a new offering called Dangal Games which will be launched in June of 2021. Dangal Games will have a bunch of the company’s gaming IPs in a single app. Dangle Games will have 20 games that are to be launched in the coming days as all the products close to the launch date are being tested to make them capable of providing the best experience.
“With Dangal Games, we are offering our users a single-stop solution for all their gaming needs. It will be a single app from which users will have access to multiple games and products. From a single user, users can play any game of their choice. Be it poker, rummy, fantasy, or casual games as per their choice,” Mahna said.
The company’s agenda behind Dangal Games is to open a product offering platform for the entire Indian game lovers. “ Because to get fun from Poker and Rummy an individual needs to have a required skill set that is essential to the game. With fantasy, you need a particular amount of interest in sports and particular games. With the casual games coming in that would make the entire Indian landscape our potential audience.”
The company follows a service fee-based revenue model for all its products. “We charge a small amount of money which is being raised through wagers on poker and rummy and we charge a small entry fee for the various contests and tournaments for fantasy. Dangal Games will also follow a similar model as fantasy. For Poker and Rummy, we charge 3-5% of the amount wagered and for Fantasy Dangal it will be 10-12% of the entry fee on the contest. On Dangal Games, we will have a different service fee for each product. The range will vary from 3% to 18%.”
We wouldn’t deal with brands running ads on our platform because it creates unwanted interruption which affects the interest of gamers and makes them leave our fantasy games forever. For us time spent and engagement is a key factor.”
Speaking on the fundraising plans, Mahna said, “For our current operations, we are adequately funded but we will go to the market in the next quarter for the next round of fundraising for our future growth plans in July- August.”