News

Monday
May, 27

IPL: Fantasy sports to generate gross gaming revenue of ₹2,900-3,100 cr in 2023

Featured in:


Gross gaming revenue from fantasy sports during the Indian Premier League is estimated to grow 30-35 per cent to ₹2,900-3,100 crore in 2023, according to a report. Since its inception in 2008, IPL has predominantly been a televised sporting event, with an audience of around 100 million viewers.

According to Redseer Strategy Consultants, over the years, its viewership peaked to 460 million during IPL 2019. However, during Covid, IPL viewership on TV dropped 10 per cent, as the lack of live sporting events caused many sports viewers to migrate to OTT platforms.

Fantasy cricket is an online game where fans create virtual IPL teams of real cricketers playing in the season. Points are earned based on the performance of their players in actual matches, with the platforms offering lucrative prize money to users.

Redseer estimates that the IPL market size is expected to have grown because of several factors, including increased awareness of fantasy gaming and new platforms increasing their marketing efforts.

“Steep growth in fantasy sports gaming will come from Tier 2 cities, driven by increasing adoption of fantasy platforms and cross-migration of users from other games. Increased Internet accessibility will give a push to the IPL economy. Our estimates suggest that the average revenue per user is expected to grow from ₹410 in IPL 2022 to ₹440 per user in IPL 2023,” said Ujjwal Chaudhry, Partner at Redseer Strategy Consultants.

Moreover, the encouragement from the government in the form of formalised rules and regulations regarding GST for RMG platforms, and Google allowing fantasy platforms on the Google Play Store, will further increase user base during IPL 2023, Chaudhry added.





Source link

Find us on

Latest articles

- Advertisement - spot_imgspot_img

Related articles

Google AI Overview calls US President Obama Muslim and...

Google AI Overview calls US President Obama Muslim and tells people to jump off a bridge; company...

‘Real turnaround year’: Suzlon Energy shares get target price...

'Real turnaround year': Suzlon Energy shares get target price revision from ICICI Sec Suzlon Energy has got back...

Mukesh Ambani is taking his giant-killer telecom playbook to...

Mukesh Ambani is taking his giant-killer telecom playbook to Africa. Should Airtel be worried? Radisys, a Reliance Industries...

Adani Enterprises shares in news today as firm to...

Adani Enterprises shares in news today as firm to consider raising of funds Adani Enterprises stock closed 8.01%...

PHD Marketing Takes Top Team to Drupa 2024

PHD Marketing Takes Top Team to Drupa 2024 Leading 360-degree B2B agency PHD Marketing is descending upon Düsseldorf...

Terinex Flexibles Opens Net Zero Co2 Rated Factory Building

Terinex Flexibles Opens Net Zero Co2 Rated Factory Building Terinex Flexibles is pleased to announce the opening of...