Spice Fantasy becomes Start-up member of Federation of Indian Fantasy Sports

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The Federation of Indian Fantasy Sports (FIFS) announced that Spice Fantasy has joined them as a Start-up member. Spice Fantasy is an emerging fantasy sports platform by GiaTech Solutions Pvt. Ltd. It offers fantasy cricket, kabaddi, football and various other sports as it focuses on growth.

GiaTech Solutions is a part of Mobileoid2 Technologies and claims to have brought more secure payment solution providers Spice Fantasy through their expertise and experience. They also have large corporations such as Microsoft, Nokia, IIT Delhi and others as their clients.

On the occasion, the founder and director of GiaTech Solutions Gourav Srivastava said, “Fantasy sports has seen exponential growth in the last few years and we are delighted to be entering a market that contributes to the development of the sports ecosystem of the country. We are looking forward to surging ahead with the support of FIFS”.

The Director-General of FIFS Joy Bhattacharjya added, “I welcome Spice Fantasy to the FIFS family and look forward to their success in the upcoming sporting season. At FIFS, we are focussed on the principles of self-regulation and working with the industry operators to facilitate robust development and significant contribution to India’s economic growth”.

Like other members, Spice Fantasy will follow the FIFS charter that lists out all the regulatory practices that need to be followed for running a fantasy sports platform. The charter has been revised recently by FIFS in order to provide space for innovations in the field of fantasy sports. It also focuses on the role of Fantasy Sports Regulatory Authority (FSRA) to promote best practices in fantasy sports.

The FSRA is an independent self-regulatory body which consists of three former judges, Justice (Retd.) Mukul Mudgal, Justice (Retd.) G.S. Sistani as panel members, and Justice (Retd.) A.K. Sikri as chairman. Together with FIFS, they have created a format which has to be followed by member fantasy sports platforms. For instance, all the contests must be based on real world matches officially sanctioned by international bodies, no changes must be allowed after the match starts and the platform should not participate against its users.