Latest report by Redseer has revealed that revenue for fantasy sports platforms in India during the Indian Premier League 2023 saw an increase of 24% compared to last year. The gross gaming revenue (GGR) stood at Rs 2,800 crore for IPL 2023 compared to Rs 2,200 crore in IPL 2022.
The jump in revenue came from an estimated 61 million+ users, with platforms gaining several new users. The report also revealed that over 35% of users making transactions for the first time in fantasy games were new players.
In total, fantasy sports saw an 11% increase in the number of user who made a transaction during IPL 2023 compared to its previous season. Many new entrants like CrickPe by Ashneer Grover and TFG by Deepak Chahar and Jaya Chahar also made their way into the fantasy cricket industry weeks before IPL 2023 commenced.
Director at Redseer, Saurav Chachan said, “IPL season not only sees an influx of first-time users but also a number of reactivation of users who begin playing the platform during the two months of IPL. This makes it a very important event not just for user acquisition but also to ensure reactivation of activity on your platform,” as quoted by Your Story.
Fantasy sports are one of the most popular form of online gaming in India. Few companies started operation way back but came into limelight during the pandemic. During that time, fantasy sports saw a massive growth which let to several more fantasy gaming platforms.
Recently, Dream11, one of the most popular fantasy gaming firm, became the title sponsor for the Indian cricket team. Dream11 also increased its advertisement spending. A previous report by Fintrackr showed over 70% increase in companies’ advertisement spendings.
IPL proves to be the most fruitful season for fantasy industry
The firms were already gearing up for this year’s IPL season and made sure that this year was even greater for them in numbers compared to the previous ones. Many of the industry stakeholder shared their views with G2G before the start of IPL 2023.
CEO of All India Gaming Federation (AIGF), Roland Landers, said that IPL season is the best time to create more growth opportunities. Newer innovations in fantasy gaming platforms are sure to attract even more players.
Managing Director of Ability Games, Suraj Chokhani, explained how they were planning to focus on player-centric leagues and including leaderboards to make the games more competitive and fun.