The income of the ‘fantasy sports’ sector is expected to grow by 30-35 percent to Rs 2,900-3,100 crore in the current season of the IPL-2023 cricket tournament. Market research firm RedSeer Strategy Consultant has estimated this. As per the data, 65-70 million users are expected to transact on the gaming platform.
Ujjwal Chowdhary, partner, RedSeer Strategy Consultants, said that with higher marketing spend, there has been an increased interest in ‘fantasy sports’ platforms. He said, ‘Now we are seeing Bollywood stars campaigning. There is better clarity now about the regulatory framework, GST.
There is a positive response from Google, where it has allowed some fantasy forums on Playstore as part of its pilot program. These are all very positive steps for fantasy sports in India. With this, we expect 20-30 percent increase in user transactions.
Google has allowed apps for select fantasy sports as part of its pilot program. These include big platforms like Dream11, Games24X7’s My11 Circle, MPL Rummy and Fantasy Cricket.
“We expect the total revenue of fantasy sports to reach Rs 2,900-3,100 crore during the current IPL season,” Chowdhary said. It contains all fantasy cricket platform in India. This is about 30-35 percent more than last year’s IPL season. The IPL-2023 cricket tournament began on March 31 and will run till the end of May.
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