According to a
report, it is expected that the revenue from fantasy sports during the Indian
Premier League will increase by 30-35% to Rs 2,900-3,100 crore in 2023.
audience of around 100 million viewers.
According to
Redseer Strategy Consultants, during the year the number of viewers peaked at
460 million during IPL 2019. The live action of the game prompted many sports
viewers to move to OTT platforms.
Fantasy Cricket is
an online game where players create virtual IPL teams played by real
cricketers. Points are earned based on players' performance in real games,
while the platform rewards users with huge cash prizes.
Redseer estimates
that the IPL market size will increase due to several factors, including the
rise of fantasy sports and new platforms increasing their marketing efforts.
“Strong growth in
fantasy sports will come from Tier 2 countries, which are driving adoption of
fantasy platforms and migrating users from other sports. Increasing internet
access will give an economic boost to the IPL. Our estimates suggest that
average per capita income will increase from Rs 410 in IPL 2022 to Rs 440 per
worker in IPL 2023,” said Ujjwal Chaudhry, Partner at Redseer Strategy
Consultants.
Additionally,
government incentives in the form of GST rules and regulations tailored for RMG
platforms, and Google allowing fantasy platforms on the Google Play Store, will
increase the user base during the IPL. 2023, Chaudhry added.
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