Dream11, My11circle & MPL Type Fantasy Apps are Scam?

Introduction 

In recent years, there has been a growing trend of fantasy apps gaining popularity among people. Many new apps have entered the market, claiming to offer the chance to win millions through simple predictions. But do these apps really help people win money? Are the claims made by these companies true, or are they just scams?

In this blog, we'll delve into these questions to uncover whether fantasy apps have the potential to make you rich or not.

 

What are fantasy apps?

Fantasy apps are online gaming platforms where users can engage in various fantasy sports such as cricket, hockey, football, basketball, and kabaddi. By winning games on these apps, users have the opportunity to earn money. 

These apps host daily contests with a diverse range of prize pools to keep users engaged and interested. In India, there are numerous fantasy apps available, with some of the top ones being Dream11, My11Circle, MPL, and PokerBaazi.

 

How do fantasy apps earn & work mechanisms?

Fantasy apps generate revenue from several sources. Here is the breakdown of how these apps earn money:

Entry fees for contests – Contests and tournaments on these apps often have entry fees, which contribute to the revenue of the platform. Users can choose to participate in these contests by paying the entry fee and competing for a share of the prize pool. While some contests may be free to enter, others require a participation fee.

Advertising –Another significant source of revenue for these platforms is through advertising. They display various types of ads within the apps, including banner ads, video ads, and pop-up ads. The platforms charge advertisers a fee to display these ads, contributing to their revenue stream.

Sponsorship and Partnerships - Fantasy apps frequently collaborate with sports teams, leagues, or individual players. These strategic partnerships enable them to secure sponsorship deals, exclusive content, or co-branded promotions, which in turn provide a steady income stream.

In-app purchase - Some apps may offer in-app purchases for virtual goods, coins, cosmetic customizations, virtual currency, or power-ups. Users can use these items to enhance their gaming experience or improve their team's performance in the games.

Subscription model or Premium Memberships - Some apps also offer membership or subscription options for a significant fee. Members receive exclusive benefits such as expert advice, early access to contests, discounts on in-app purchases, and analytical tools to enhance their gaming experience.

Data Monetization -  These apps have data and statistics from thousands of users, which they can sell to sports organizations, betting companies, or other interested parties, generating additional revenue.

Affiliate Marketing - Another way for these platforms to generate revenue is through affiliate marketing. They earn commissions by promoting links to merchandise, betting platforms, or streaming services to their users.

 

 

What is the probability of winning in these fantasy apps?

These apps often claim that users can win crores by playing on their platform. But is this really true?

Typically, these platforms have a prize pool for each match, and users can participate by creating their team and playing accordingly. For example, if there's a match between CSK and GT, and you select players like MS Dhoni and Shubman Gill, you'll earn points based on their performance. If your chosen players perform well, you'll gain points, but if they don't, you'll lose points.

Based on your points, you'll receive a rank, and depending on your rank, you'll receive a portion of the prize pool. This amount can range from Rs. 2 crore to Rs. 140.

However, the likelihood of winning the highest amount is extremely low, approximately 0.000005%. In fact, you have a better chance of being hit by a car in an accident than winning the highest amount on these platforms.

Despite the low chances of winning big, these platforms often charge high fees, sometimes up to Rs. 10,000 per participant, to join these contests. Therefore, while the potential winnings may seem exciting, the probability of winning the highest amount is very low, and users should be aware of this before participating.

 

 

 

Disadvantages of using these fantasy apps?

India boasts more than 150 gaming platforms with over 13 crore active users, according to the All India Gaming Federation. Despite their popularity, these platforms have some disadvantages.

• Addiction: Users can become addicted to these platforms as they constantly check their screens to track player performances and winnings. This addiction can negatively impact other important aspects of their lives.

• Financial Implications: Users often have to pay significant amounts to participate in contests and make in-app purchases. The big prize pools may tempt users to spend more money with hopes of getting rich quickly. However, the probability of winning is very low, and many users end up losing more money than they earn.

• Time-Consuming: Researching, making teams, predictions, and playing games on these platforms demands a lot of time and effort from users.

• Privacy Concerns: Fantasy apps collect user data for various purposes, and there's a risk that this data may be sold to third parties, raising concerns about the misuse of personal information.

• Anxiety and Stress: Constantly being active on these platforms can lead to anxiety and stress among users. The pressure of winning and the financial burden of losses can increase stress levels significantly.
  
  

 

 

Final Words

Although fantasy apps may appear tempting as a quick way to get rich, they are ultimately scams designed to exploit people's emotions. The probability of winning a significant amount on these apps is very low, leading most users to lose more money than they gain. Additionally, people often become addicted to these apps, experiencing stress and anxiety as a result. It's advisable to stay away from all fantasy apps.

 

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