IPL Spurs Growth in Fantasy Sports Revenue

By siliconindia  |  Friday, 19 April 2024, 12:01:22 PM IST

IPL Spurs Growth in Fantasy Sports Revenue
The ongoing Indian Premier League (IPL) season is proving to be a significant economic driver, promoting business growth and engagement across multiple sectors, including fantasy sports. Gaming app platforms such as Dream11 and My 11 Circle have seen notable increases in daily active cash users and revenue per user.
This year, the fantasy sports revolution is expanding beyond major urban areas, with over 65% of revenue generated from smaller towns and cities. According to Saurav Kumar Chachan, Associate Partner at market research firm Redseer Strategy Consultants, fantasy sports revenue is projected to surge by 25-30% compared to last year, reaching $500-525 million in IPL 2024.
"It's this grassroots enthusiasm that's fueling the fantasy platforms' meteoric rise", Chachan stated.
The report notes that the heightened user engagement and investment during the IPL season have propelled the rapid growth of this segment, establishing fantasy sports as a major economic force rather than just a niche hobby.
Daily cash users have increased by 2.8 times compared to Business as Usual (BAU) standards, while fantasy sports market revenue has seen a 2.3 times increase in the limited number of matches played.
Additionally, guaranteed cash prizes have risen compared to previous standards, and fantasy sports platforms have expanded the distribution of cash prizes. For example, Dream11 offers provisions for up to four winners to earn a minimum of $125,000 per day.
The report highlights that the IPL acts as a catalyst, promoting an unprecedented integration of entertainment, sports, and economics. This creates a win-win scenario for various stakeholders, including tech giants and local businesses in smaller cities.

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