Fantasy sports activities made Rs 2,800 crore in gross gaming income throughout IPL 2023

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July 4, 2023

Fantasy sports activities made Rs 2,800 crore in gross gaming income throughout IPL 2023

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Fantasy sports activities made Rs 2800 crore through the IPL season in 2023 with 61 million customers collaborating on Fantasy Gaming platforms, in accordance with an evaluation by Redseer Consultants. This is a 24 per cent leap in gross gaming income from Rs 2,250 crore in IPL 2022, and the market has grown at a CAGR of 30 per cent since IPL 2019.

The digital groups put collectively by customers assist them rating factors by the real-life performances of their gamers within the match. At the tip of the season, the members can win prizes or money based mostly on their scores. Fantasy gaming apps gained reputation through the pandemic. Many new corporations entered the market to money in on cricket’s reputation and have since launched digital leagues and contests in different sports activities akin to soccer.

At least 35% to 50% of the income of fantasy sports activities platforms was pushed by IPL matches, in accordance with Redseer.

India boasts round 300 fantasy sports activities platforms and 18 crore customers, making it the quickest rising market worldwide, with a consumer base almost triple that of North America

On the primary day of the 2023 IPL season, India’s main fantasy sports activities app Dream11 clocked 10.53 million concurrent customers. Today, Dream11, which presents fantasy video games throughout a wide range of sports activities, together with basketball, soccer, and kabaddi, is India’s first gaming firm to make it to the elite membership of privately-held startups valued at $1 billion or extra.

IPL 2023 had a robust consumer acquisition engine, with 35% of latest customers taking part in for the primary time on the platforms. The inflow of latest customers led to an 11% improve in money customers through the season, with the common spend per match of Rs 127 per consumer.

Note(s): Cash Users are the variety of lively money customers making transactions throughout IPL Days. New Users are customers who’ve performed fantasy sports activities utilizing money/cash for the primary time

The prime three platforms captured 96 per cent of the market share through the IPL 2023, and had a mean income of Rs 458 per consumer for the season.

The common gross gaming income (GGR) throughout weekdays was 1.3x in comparison with weekends and peaked through the ultimate match. The Mega Tables, which is the sum of all the best prize pool tables in each match throughout the platforms, dropped in measurement by 30% throughout weekends as a consequence of a number of matches on the identical day. However, Mega Tables have the next rake charge of 24 per cent, contributing 60 per cent to the income through the season.

Redseer estimates a complete of Rs 10,000 crore was spent on ads wherein BCCI, Franchise, and Broadcasters earned 65% of the entire spend as direct income. The remaining 35 per cent of oblique income was earned as advert income by social media platforms, conventional media, and different web platforms.

Fantasy platforms provide a wide range of tournaments and desk sizes so as to entice completely different classes of customers and players and promote spending. With fantasy platforms, customers have the chance to win prizes by collaborating with their fantasy groups. While the leisure worth of fantasy IPL by itself is a robust driver, the grand prizes are a large bonus. The alternative to win grand prizes and unlocking premium options is a robust incentive for customers to spend extra on the platforms.

“Government support for real money gaming in the form of a dedicated oversight ministry, along with formalized rules and regulations, is a strong facilitator for the industry. Added to that, Google has also allowed fantasy platforms in its Play Store. These measures will further encourage transacting users to participate and spend more in the game,” stated Ujjwal Chaudhry, Partner at Redseer.

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