The straight hot talk out of the Online Gaming Industry is Fantasy sports platforms made gross gaming revenue of Rs 2,800 crore during IPL 2023—up from Rs 2,200 crore in last year’s season. The earnings came on the back of nearly 61 million users participating in activities on these platforms this season, according to a report by Redseer. Furthermore, during the latest season, a total of ₹10,000 crore was spent on advertisements, of which BCCI, franchises, and Broadcasters earned 65 per cent of the total spend as direct revenue.
According to the report, a significant number of new players joined gaming platforms during the recently concluded IPL season. It was observed that approximately 35% of users who engaged in fantasy games and made transactions during this season were participating for the first time. The IPL season saw an 11% increase in the number of cash users—i.e. active users who make transactions during the IPL season—from the previous year when these platforms recorded 55 million paying users.
As per the report, the fantasy gaming platform has experienced a consistent growth rate of 30 percent annually since IPL 2019. Users of these platforms create virtual teams and accumulate points based on the real-life performances of their chosen players during matches. At the conclusion of the season, participants have the opportunity to win prizes or cash rewards based on their accumulated scores.
The Indian Premier League (IPL) is widely regarded as one of the most prestigious and eagerly anticipated cricket tournaments in the world. In recent years, fantasy sports platforms have gained significant traction among cricket fans, providing them with an immersive and engaging experience.
The top three platforms captured 96 per cent of the market share during the IPL 2023 and had an average revenue of ₹458 per user for the season. The excitement of the IPL also trickled into non-IPL sporting events during the season, contributing to 13 per cent of the revenue,
said Ujjwal Chaudhry, partner at Redseer.
