According to a report by Redseer, fantasy sports platforms earned Rs 2,800 crore during IPL 2023.
About fantasy sports
Users participating in fantasy sports create virtual teams which help them earn points based on the results of real-life matches.
At the end of the season, participants win prizes based on their results.
Top 3
Prominent Fantasy Sports platforms include Dream11, My 11 Circle and My Team 11.
Ujjwal Chaudhary, Partner at Redseer, said in a statement, “The top three platforms captured ~96% of the market share during the IPL 2023, and had an average revenue of Rs 458 per user for the season.”
Gross revenue
In total, fantasy sports platforms made gross gaming revenue of Rs 2,800 crore during this year’s IPl season.
This is a growth from Rs 2,200 crore in last year’s season.
First time users
Collectively these platforms onboarded 61 million users.
Nearly 35% of users who made transactions in fantasy games this season were first-time players- a huge influx of new players entering the fantasy gaming arena.
Paying users
Since 2019, fantasy gaming apps have seen a compound annual growth of 18% of cash users every year.
This year’s season saw an 11% increase in the number of cash users, that is, active users who make transactions on the app.
In the previous year these platforms recorded 55 million paying users.
Saurav Chanchan, Director at Redseer 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”.
Market size
The popularity of such games started to grow during the pandemic and the growth story has only continued since then.
A report by the Federation of India Fantasy Sports stated that the overall market is set to reach Rs 25,240 crore by FY27.
India has around 300 fantasy sports platforms and 18 million users, making it the fastest growing market in the world.
Role of fantasy sports
The Federation of India Fantasy Sports says that fantasy sports platforms play a key role in promoting non-cricket sports in India.
69.8% of users who participated in its survey said that as a result of playing fantasy sports they began to watch and learn about new sports and leagues.
