According to a report released on Thursday, the gross gaming income from fantasy sports during the current IPL season will probably total between Rs 2,900 and Rs 3,100 crore.
Redseer Strategy Consultants’ report predicts that by IPL 2023, the average income per user will increase to Rs 440 from Rs 410 in IPL 2022.
In 2023, the number of users who transact during the IPL season is anticipated to increase by 25–30%, with 60–65% of users hailing from tier-2 and higher locations.
“Steep growth in fantasy sports gaming will come from tier 2 cities driven by increasing adoption of fantasy platforms and cross-migration of users from other games,” said Ujjwal Chaudhry, Partner at Redseer Strategy Consultants.
The IPL economy will gain momentum from wider access to the Internet. IPL has primarily been a televised sporting event with a viewership of about 100 million viewers since its start in 2008.
Its audience grew over time, reaching a high of 460 million. Fantasy leagues are a major offshoot of the live game, which takes place in stadiums and is where the actual action happens.
Fan-made virtual IPL teams of live cricketers competing in the season can be created in the internet game of fantasy cricket.
Users of the fantasy game must play carefully, be aware of each player’s past performance, and use their own judgment when making predictions. According to how well the players perform in real matches, points are won, and the platforms reward users with generous cash prizes.
According to the report, the encouragement from the government in the form of formalized rules and regulations regarding GST for real money gaming (RMG) platforms, and Google allowing fantasy platforms on the Play Store, will further increase transacting users during IPL 2023.
“Measures like RNG certification, secure payment gateways, and fraud security, increase user trust in the platforms, and subsequently build confidence in the users to spend higher amounts on gaming,” said Saurav Kumar Chachan, Director, Redseer Strategy Consultants.
