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Top 3 Betting Apps In India – SportsFantasy’s revenue for IPL 2023 has increased to Rs 2,800 crore to help discuss chance and skill Rs.

According to an analysis conducted by Redseer, the Indian Premier League (IPL) season generated revenue of around Rs 2,800 crore with 61 billion users participating in the fantasy. This means 24 percent. more compared to last year’s revenue and IPL has 30 percent compound annual growth rate (CAGR) from 2019 onwards.

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Indian cricketers have not only helped broadcasters in the Indian Premier League achieve a number of records and boost TV ratings this season, but millions have also bet on the fantasy programming, which has seen its revenues skyrocket.

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According to Redseer’s analysis, the IPL season generated a gross revenue of around Rs 2,800 crore, with an incredible 61 million users participating in the fantasy building. This is an increase of 24% over the previous year’s revenue of Rs 2,250 crore and since 2019, IPL has had a compound annual growth rate (CAGR) of 30%.

“IPL is the most awaited sporting event, with fans across the country rooting for their favorite teas to win the coveted trophy. Live attacks are not enough for Ilions, so they venture into fantasy league, a virtual game where participants can create real players and virtual currency. based on their own teas.” Redseer said in a statement.

The analysis shows that IPL 2023 attracted a lot of new users, with 35% of players playing on fantasy platforms for the first time. This influx of new users led to an 11% increase in cash users during the season, with an average spend per user of Rs 127.

“During IPL 2023, the top 3 platforms had approximately 96% market share and an average revenue per user of Rs 458 per season. The IPL enthusiasm also extended to non-IPL sporting events during the season, accounting for ~13% of revenue,” said Ujjwal Chaudhry, Partner, Redseer.

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It was 1.3 times more than the weekend and peaked in the last match between the Akhendra Singh Dhoni-led Chennai Super Kings and the defending champions Gujarat Titans.

In addition, Redseer’s analysis showed that ega Tables, which constitute the largest pool of prize pool tables for each game across platforms, saw a 30% drop over the weekend due to multiple games being played simultaneously. However, ega Tables was up over 24%, accounting for 60% of the season’s total revenue.

Ahead of the IPL, Redseer predicted gross revenue from the fantasy sports tournament to grow by around 30-35% in 2023. It will be from 2900 to 3100 soms. It is expected to grow by 25-30%, with 60-65% of users coming from Tier 2 cities and beyond. Also, the average revenue per user is projected to increase from Rs 410 to Rs 440 in 2022. IPL.

Redseer had earlier said that the IPL box office is expected to increase due to several factors, including increased awareness of fantasy and increased box office efforts from new platforms.

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“IPL has become not only a sporting event in this country but also a global celebration of talented players across regions and continents. This IPL season, we have seen over 1 billion active users and also connected half a million ores online,” said Saurabh Chopra, BalleBaazi. one of the founders and CEO.

The surprising increase in participation shows the growing interest in fantasy in the country. “In the future, we expect Segent to replicate similar figures and focus on other exciting sports. The fantasy category is expanding rapidly and is dominating all sports,” added Chopra.

Fantasy Sports in India till 2013-14. It was very popular among English Premier League players, but later IPL authorities introduced fantasy sports on www.iplt20.co/fantasy platform. In recent years, there has been an increase in the number of such utility apps that promise to pay out a crown to winners for every win.

Drea11 mainly owns the box office and is backed by cricket stars including Indian tea captain Rohit Sharma, Jasprit Bura, Hardik Pandya and others, but they continue to trade on the ground. In fact, former BCCI president Sourav Ganguly endorses the fantastic app y11circle.

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Drea11 recently signed a three-year deal to become the main sponsor of India’s national cricket tea, replacing Byju Tea. Over the past five IPL seasons since 2019, fantasy apps have seen 18% year-on-year growth in cash users, with total market revenue exceeding $1 billion.

While everyone believes that fantasy sports is nothing more than banned betting in India, stakeholders point to Article 19(1)(g) of the Constitution of India stating that it is the teaching of a skill. The article states that players use their experience, talent, knowledge, and strategies to analyze, think, and develop winning strategies.

Meanwhile, growing companies are worried about the GST increasing to a maximum of 28%. The Goods and Services Tax (GST) Council will meet on July 11 to discuss the group’s reports on online revenue, casinos and horse racing.

A group of popular online companies through the Ficci Gaining Coittee has sent a representation to the Central Board of Indirect Taxes & ap; Custos called for not increasing GST from 18% as proposed by Miss inisters.

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Proposing a 28% tax on profitable companies focused on intellectual property and technology development will destroy companies in the sector that are building tomorrow. This creates choice for various vendors and discourages new entrants who offer alternatives to foreign products and technologies, Sauya Singh Rathore, co-founder of WinZO Gaes platform, told ET Online.

Meanwhile, the government has taken the decision to certify what is “risky online” until a self-regulatory organization (SRO) is set up for the host industry, said Rajeev Chandrasekhar, state head of electronics and IT (eitY). .

In an earlier interaction with ET Online, Redseer’s Chaudhry said, “Encouraging the government to implement GST rules and regulations for RG platforms, allowing fantasy platforms on Google Play will further increase the number of users during IPL.

Redseer’s analysis also revealed that a total of around Rs 10,000 crore was spent on advertising, with BCCI, franchises and broadcasters earning 65% of the total spend as direct revenue. The remaining 35% comes from indirect revenues from social media platforms, traditional media and other online platforms.

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