A number of new participants entered fantasy sports platforms during the most recent IPL season. The proportion of new gamers who used cash was close to 35%.
In IPL 2023, fantasy sports platforms generated gross gaming income of Rs 2,800 crore, up from Rs 2,200 crore in the corresponding season last year. According to a Redseer research, the revenue was generated by about 61 million individuals engaging in activities on these platforms this season.
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A significant surge of new paying players entered the gaming platforms during the recently finished IPL season. According to the report, this season’s fantasy game participants included close to 35% newcomers.
The number of cash users, or active users who do transactions throughout the IPL season, increased by 11% compared to the prior year, when these platforms reported 55 million paying consumers.
“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,” Saurav Chanchan, Director at Redseer said. “This makes it a very important event not just for user acquisition but also to ensure reactivation of activity on your platform.”
According to a statement by Ujjwal Chaudhary, Partner at Redseer, “The top three platforms captured about 96% of the market share during the IPL 2023, and had an average revenue of Rs 458 per user for the season.”
During the most recent IPL season, around Rs 10,000 crore was spent on commercials, with 65% of the amount going to the BCCI, franchises, and broadcasters as direct revenue.
Fantasy sports’ purpose
Platforms for fantasy sports, according to the Federation of India Fantasy Sports, are essential for growing non-cricket sports in India. As a result of playing fantasy sports, 69.8% of users strongly agreed that they started watching new sports and learning about new players and leagues.
The report also stated that the overall market is set to reach Rs 25,240 crore by FY27.
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