Startup-Circle: PlayerzPot, one-point online fantasy gaming platforms

PlayerzPot is a reliable, secure, and fast-growing online gaming platform that provides a wide range of skill-based casual games, fantasy games & card games. Founded at a small garage in Airoli, Navi Mumbai in 2015, PlayerzPot was first launched as a web-based platform during IPL 2016 April.

Mitesh Gangar co-founded PlayerzPot in 2015 and has been serving as the Director since then and was responsible for creating the technological setup for the company. He is now extensively working on raising the brand profile of PlayerzPot. Prior to embarking on his journey of entrepreneurship, Mitesh started his career at Techathalon Software Services Pvt. Ltd. as a Php developer where he learned to build and manage projects right from scratch and create user centric platforms.

Speaking to CIOL, Mitesh Gangar, Co-founder & Director at PlayerzPot, has shared his views on the growing significance of the PlayerzPot. He talked about his startup journey and also, and he speaks about the growth plans he has for PlayerzPot.

Tell us about PlayerzPot and your offerings. Tell us about the team.

PlayerzPot is a reliable, secure, and fast-growing online gaming platform that provides a wide range of skill-based casual games, fantasy games & card games. Founded at a small garage in Airoli, Navi Mumbai in 2015, PlayerzPot was first launched as a web-based platform during IPL 2016 April. Initial positive responses prompted us to create a mobile app in 2018 to provide better user experience. We started from a cricket fantasy sport and kept adding an array of games to become a one-stop gaming platform with 1 crore+ users, giving us 100% growth in terms of user traction every year.

We withstood stiff competition in the ever-evolving Indian gaming market with various user-enhancing experiences in terms of customer support and quick withdrawal. Researching about our target audience, we analysed our approaches and curated a leader board of ever-popular casual games, which in turn helped us reach out to the masses.

PlayerzPot offers unmatched flexibility to players. One can choose their own leagues, play their favourite games on various levels while winning real money through hassle-free payment processes. We are planning to add 7 more casual games on our platform soon.

Our current employee strength is around 150+ and is manned into various teams. The TECH & Product team has maximum strength as they are the backbone of our app. Then, the Customer Care team plays an important role for the users and are quick to solve the user problem if any. Rest of the employees are divided into Marketing, Design, Data Science, Data Support & HR.

How is fantasy gaming paving its way into the gaming gallery?

Fantasy gaming is fast becoming a favourite for a major chunk of gamers who want to explore genres promising a thrill ride. The category is heavily dependent on real-life sport and has been enjoying stupendous success because of the two-pronged development in easy internet access and mobile penetration in India. The excitement around the category is such that it has already witnessed a phenomenal 25x growth, leaping from 2 million Indians playing fantasy sports in 2016 to 100+ million users in 2020 respectively.

According to a report by KPMG, the online gaming sector is expected to rise to 510 million by the end of 2022. This development will impact the fantasy gaming genre positively.

According to you, what should India learn about fantasy gaming?

 There has been a major disconnect between the users’ perception of fantasy gaming and the ground reality. India’s fantasy gaming industry is still booming, and lack of awareness regarding this sector has led gamers to relate fantasy gaming to the perilous arena of online gambling. There is an ambiguity of perception in the game of skills and game of chance, which harms the reputation and prospect of fantasy gaming in the country.

I believe that the lack of rules and regulations has hampered the growth of fantasy gaming. The pressing need of the hour is legalization and government recognition for online gaming, especially fantasy sports, which will aid the entire ecosystem and earning user trust.

What are the latest trends in the online gaming industry? How is PlayerzPot tapping these latest trends?

 Over the last 5 years, the online gaming sector has witnessed tremendous growth. The industry thrives on technological advancement and has always been one of the earliest to adopt the latest technology. Gaming is becoming more interactive as technologies like AR and VR become increasingly affordable for real-time application. Technology will make gaming more personalized while the industry will become more social through tournaments, something which is also on PlayerzPot’s timeline.

5G internet will not only enhance gameplay but also assist developers to improve products based on user preference. Catalysing this evolution is the entry of blockchains and non-fungible tokens (NFT) which will safeguard ownership of virtual assets and regulate operations. We foresee a time when developers create dynamic games with Blockchain technology while Metaverse is still in its trial-and-error stage in India. Drawing parallels with the reach of Metaverse as of now, we are rooting for a virtual, more personalized user experience which will work as USPs in creating a completely virtual gaming vertical in future.

What is new on the platform from the user’s perspective? How beneficial is it for them.

PlayerzPot always adapts to new technology and strives to give the best user experience to our users.

During the live game, we update every user individually with his/her standing and inform them how close he/she is from winning the pot in terms of points. To enhance more offerings to the users, we have started cross selling the games. For eg. Giving users an option to play Ludo and other games while he/she is playing a fantasy game. To give the best app experience we are now using Aerospike which reduces the server response time for the users using our application by which there is no waiting time while playing during peak hours.

Since inception we have launched Refer & Earn offer for users across segments and that has been our biggest USP where users are enticed to refer and play on our app.

How has your revenue grown with the brand evolving during the pandemic?

The Indian gaming industry has shown phenomenal growth especially during the pandemic. Transitioning from hobbyists to professional gamers, the unforeseen circumstances created by the pandemic prompted new users to try out gaming and discover the ensuing adrenaline rush.

According to a Sequoia BCG report, with rapid internet penetration and availability of cheap data, the mobile gaming segment is expected to triple in size to a $5B+ market by 2025.

PlayerzPot has witnessed an increase in registered users from 20.6% to 73.3% in just one year. We have also recorded an 8X revenue growth during the pandemic and have expanded our teams accordingly.

What has 2021 changed for you? How are things now?

As mentioned before, the entire Indian gaming industry witnessed a meteoric rise of popularity during lockdowns. That stint continues steadily. According to a report by KPMG, the market is expected to grow at a compound annual growth rate of 21% over the period of next 5 years, which implies that it might reach $3.84 billion in terms of revenue. As a progressive gaming platform, we look forward to leveraging these positive trends.

What are your growth priorities for 2023?

Currently, PlayerzPot focuses on launching more games in the skilled and casual gaming categories and complement that with exciting offers for real money gaming enthusiasts. In 2023, we are expecting to reach around 2 crores+ users and carve a niche amongst top fantasy and casual gaming platforms in the coming years.

Funding

With a focus on great user experience, PlayerzPot had raised fresh funding of $3 million USD in its Series A round back in 2019. Going forward, our goal is self-sustenance and we plan to achieve that through the introduction of various casual games and an entry into the NFT space. Metaverse is also something that we are looking into as our technology roadmap for our USPs and virtual world. We are positively working to raise more funds which will further scale up our brand.