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There are a lot of platform for discovery of such events tho. It's people that they are not choosing it purposely. But it's also true there is large number of people who do take part on such events. It's totally upon individual choice. And they most

U mean the prizes and all which are given to the individual?yeah that will be there ,but as I said in one of the comments that the main thing is how will I generate revenue from such app?

If you are trying to be the organiser who do such events than they earn through sponserships and if you are trying to be the platform where people explore(discover) such events to participate than those earn by charging fees to those organiser.

Yeah thanks ,I got it .What to do u think which one will have a better market size?

Both the market is huge with many competitors. It's upto you what intrests you and where you have the edge in terms of execution. Go for the market which you understand better and have skills necessary to survive and you will be good to go.