Fantasy Gaming Apps Earned More than 2800 Cr During IPL 2023. According to a Redseer consultancy research, income from fantasy gaming platforms during Indian Premier League (IPL 2023) cricket matches increased 24% year on year to over 28 billion rupees ($342 million), with over 61 million individuals engaging.
Indian Cricket fans not only helped the money-spinner Indian Premier League broadcasters smash several records this season while TV numbers skyrocketed, but millions also gambled their money on fantasy apps, which experienced significant revenue growth.
According to the data, the IPL 2023 drew a large number of new users, with 35% of them using fantasy gaming platforms for the first time. This flood of new users resulted in an 11% rise in cash users during the season, with an average spend of Rs 127 per match per user.
Furthermore, Redseer’s investigation found that during weekends, Mega Tables, which reflect the aggregate of the greatest prize pool tables in each match across platforms, had a 30% fall in size owing to numerous matches being played concurrently. Mega Tables, on the other hand, had a higher rake rate of 24%, accounting for 60% of total income for the season.
Prior to the IPL, Redseer predicted that total gaming income from fantasy sports will increase by 30-35% throughout the competition, reaching Rs 2,900 to Rs 3,100 crore in 2023.
During IPL 2023, the number of transactional users was predicted to climb by 25-30%, with 60-65% of users coming from Tier-2 cities and beyond. In addition, the average income per user is expected to climb to Rs 440 in IPL 2022, up from Rs 410 in IPL 2022.
Dream 11 is a Biggest Fantasy League During IPL 2023
Dream11 generally controls the market and is backed by cricket stars such as India’s captain Rohit Sharma, Jasprit Bumrah, and Hardik Pandya, among others, even as they continue to play on the field. Former BCCI President Sourav Ganguly, for example, supports the fantasy app My11circle.
This revenue has helped them in many ways. Recently Dream11 signed a three-year deal to replace Byju’s as the principal sponsor of India’s national cricket squad. Over the last five IPL seasons, fantasy gaming apps have had an 18% compound annual growth rate in cash users, with total market revenue exceeding $1 billion, according to Reuters, citing industry estimates.
Fantasy sports in India were mostly popular for English Premier League games until 2013-2014, however the IPL body subsequently added fantasy sports on its portal www.iplt20.com/fantasy. In recent years, there has been a surge of such gaming applications offering to pay victors crores for each game.
According to Redseer, the last season of the IPL garnered commercials worth 100 billion rupees ($1.2 billion) with the BCCI, its franchises, and broadcasters earning 65% and conventional media and digital platforms earning the remaining 35%.