ShareChat forays into fantasy games through Jeet11
The fantasy sports ecosystem has garnered immense engagement within a few years’ time. Platforms like Dream11 valued at over $1 billion or MPL which raised $40 million in total funding recently, the scene is stimulating the audience with multiple entries. A local networking app, ShareChat, backed by Twitter has developed a fantasy sports app called Jeet11.
The Bangalore-based sports app has been working behind the curtain for 6 months and its release will allow users to bet on India’s most popular sports, cricket as well as football. ShareChat was founded in 2015 and only last year it was able to raise $100 million in a Series D funding round led by Twitter which boosted its total funding to $222 million.
The application has been under the testing mode for the last six months and Jeet11 has a current userbase of 120,000. As of now, the app is only available on the web and through APK for android users. While fantasy sports is considered betting in many regions, the industry is currently booming in India, and Jeet11 will try to capitalize on this boom too.
A ShareChat spokesperson told TechCrunch, “This is presently at an experimentation stage. Based on the outcome of the experiment, we will decide on the future of the product.” Cricket in the country is hugely popular and that could help in capturing the market and increase interest in fantasy sports will be a boon.
Like any other fantasy gaming platform, Jeet11 operates under the legal rule which is framed by the Supreme Court, classifying it as a skilled-based game. For more updates on fantasy sports and other industry news around the world, keep reading GutshotMagazine.com and stay tuned!
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