The Indian Premier League (IPL), as it does every year, is expected to boost revenues and users of fantasy gaming platforms in India this year.
According to a report by market research firm Redseer Strategy Consultants, gross gaming revenue from fantasy sports is expected to increase 30-35% to INR 2,900-3,100 Cr during the IPL 2023.
Transacting users during the IPL season are expected to increase by 25-30%, reaching 68 million in 2023, up from 55 million in 2022. Furthermore, nearly 80% of users are expected to come from Tier 2 and higher cities.
Furthermore, the average revenue per user is expected to rise from INR 410 in IPL 2022 to INR 440 in IPL 2023, according to Ujjwal Chaudhry, partner at Redseer Strategy Consultants.
Key Factors Influencing Growth
According to the report, the fact that Google has allowed fantasy platforms to be available on its Play Store as part of a pilot programme will increase the number of transacting users during IPL 2023.
Last year, Google announced a limited-time pilot programme to allow real-money games such as daily fantasy sports (DFS) and rummy apps on its app marketplace. Google stated that the Play Store would run a limited-time application-only pilot beginning September 28, 2022, but provided no timeline.
According to the report, “most platforms have increased their marketing efforts prior to IPL season in order to acquire and convert more and more users on the platforms.”
As sponsors, many fantasy gaming startups such as Dream11, My11Circle, and MyFab11 have entered the tournament. This IPL season, Dream11 is supporting six teams.