Redseer’s latest report has revealed that revenue generated by Indian Fantasy Sports platforms during the 16th edition of the Indian Premier League (IPL) increased by 24% compared to the same period of the previous year. The total gross gaming revenue generated in IPL 2023 was Rs 2,800 Crore as compared to Rs 2,200 Crore from IPL 2022.
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Revenue growth was driven by 61 million+ users, while platforms gained several new users. According to the report, more than 35% of users who made their first transaction in Fantasy were new players.
Overall, fantasy sports saw an 11% rise in the number of users who made transactions during IPL compared to the previous season. A lot of new players got into the fantasy cricket business, like CrickPe by Ashneer Grover and TGF by Deepak Chahar Jaya Chahar who got into the industry a few weeks before the IPL 2023 started.
Director at Redseer, Saurav Chachan said, “IPL season not only sees an influx of first-time users but also many 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 is one of the most widely played online games in India. There are a few companies that began operations in the past, the phenomenon gained widespread attention during the pandemic. Fantasy sports saw a huge spike in popularity during that time, which led to a lot of other fantasy gaming platforms popping up.
IPL proves to be the most fruitful season for the fantasy industry
The companies were already preparing for the IPL season and sought to ensure that this year’s IPL season would be even more significant for them than the previous years. Numerous industry stakeholders talked to G2G before the commencement of the IPL season.
The CEO of AIGF Roland Landers said that the IPL season is the right time to create more growth opportunities. The newer innovations in fantasy gaming platforms are bound to attract more players.
Suraj Chokhani, Managing Director of Ability Games, discusses their strategy of prioritising player-centric leagues and implementing leaderboards to enhance competition and enjoyment in the games.
Credit: Gateway To Gaming
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