- ByStartupStory | February 22, 2024
My11Circle overtakes Dream11 in IPL sponsorship bid for fantasy games, marking a significant shift in the landscape. The bidding process concluded on Wednesday, with My11Circle outbidding Dream11 by over INR 110 crore.
According to a report by Cricbuzz, Dream11 submitted a bid of INR 515 crore for five seasons, equivalent to INR 103 crore per season. However, My11Circle’s aggressive bid amounted to INR 625 crore, averaging INR 125 crore per season.
“The surprise victory of My11Circle underscores a notable shift in investment strategies within the IPL sponsorship landscape,” said a source familiar with the matter.
My11Circle’s substantial investment in the IPL signifies a growing trend of fantasy gaming platforms recognizing the value of such partnerships.
“The IPL’s enduring popularity among India’s vast cricket fan base has fueled increased engagement across diverse platforms, notably fantasy sports,” noted an industry expert.
The surge in fantasy sports participation reflects the growing synergy between real-world sporting events and virtual sports engagement.
“Engagement on fantasy sports platforms has increased sports consumption by as much as 60%, marking a positive impact on the sports ecosystem in the country,” stated a FIFS-Deloitte report last year.
Fantasy sports platforms offer users the opportunity to construct virtual teams comprising real-life players, with performance metrics translating into points.
“The successful bid by My11Circle not only reshapes the dynamics of fantasy gaming sponsorship within the IPL but also underscores the evolving landscape of sports engagement in the digital era,” remarked a sports marketing analyst.
