IPL’s success contributes to significant growth in Fantasy Sports Revenue: Report

New Delhi (IANS): The ongoing Indian Premier League (IPL) season is contributing majorly in driving economic growth and business growth across different sectors, including fantasy sports revenue. Popular gaming platforms like Dream 11 and My 11 Circle are experiencing a notable increase in both active cash users and revenue per person.
This season, the fantasy sports are experiencing an increased craze in smaller towns and cities with a significant amount of revenue of over 65% coming from local internet economies.
Saurav Kumar Chachan, Associate Partner at Redseer Strategy Consultants, predicts a 25-30% surge in fantasy sports revenue compared to last year, reaching $500-525 million in IPL 2024. He credits the surge in growth saying, “”It’s this grassroots enthusiasm that’s driving the rapid rise of fantasy platforms.””
The increase in user engagement and investment during the IPL season has accelerated the segment’s growth, indicating that fantasy sports are now a significant economic force rather than just a niche hobby, according to the report.
Daily cash users have surged by 2.8 times from the usual standards, while fantasy sports market revenue has increased by 2.3 times despite fewer matches played. Guaranteed cash prizes have also risen compared to previous levels. Fantasy sports platforms are now offering more cash prizes. For example, Dream11 allows up to four winners to receive a minimum of $125k per day.
The report mentioned that with the IPL acting as a catalyst, there is an unparalleled integration of entertainment, sports, and economics, “creating a win-win scenario for various stakeholders, from tech giants to local businesses in smaller cities.”