MyTeam11, one of the leading fantasy sports operators in India has reportedly exited the self-regulatory industry body Federation of Indian Fantasy Sports (FIFS), sources aware of the development said to G2G.
Founded in 2016, MyTeam11 claims to have a user base of 15 million+ users, offering fantasy options in Cricket, Football, Kabaddi and Volleyball. The platform is endorsed by former Indian cricketer Virendra Sehwag.
FIFS founded in 2017 is a Section 8 Company incorporated under the Companies Act, 2013 for the purpose of self-regulation and promotion of best practices in Online Fantasy Sports services and contests offered in India.
FIFS aims to set extremely high standards for the self-regulation and operational efficiency of the Fantasy Sports industry. Currently, Dream11, Myteam11, Hala Play, MPL Cricplay, etc dominate the Indian fantasy gaming industry, with cricket fantasy sports has picked up momentum during past years over other types of sports.
FIFS counts unicorn Dream11 as the founding member. Another unicorn gaming platform MPL is a platinum member. MyTeam11 was featured as a platinum member on the FIFS website till a few days back. MyTeam11 is currently not listed as a member on the FIFS website anymore.
The reasons for the exit of MyTeam11 are not clear but sources indicate that the exit was due to alleged differences with founding member Dream11 over the kind of games and formats that can be offered under the self-regulatory FIFS charter.
Apart from MyTeam11, many other members have also expressed their disenchantment with the manner in which FIFS is operated and the monopolisation of decision making within Dream11 by FIFS, which allegedly arm twists members into following policies or regulations convenient to them.
StarPick, 11Wickets and Balle Baazi among other fantasy sports operators have also quit FIFS in recent years over disagreements with the industry body's policies and charter.