IPL drives growth in Indian fantasy sports revenueReuters, NEW DELHIThe revenue of fantasy gaming platforms during Indian Premier League (IPL) cricket matches rose 24 percent from a year earlier to more than 28 billion rupees (US$341.6 million) with more than 61 million users participating, a report by Redseer Strategy Consultants said. Fantasy gaming apps gained popularity in India during the COVID-19 pandemic. Photo: AFP“Playing fantasy sports is becoming a craze in the country,” Redseer director Saurian Chachan said, adding that 35 to 50 percent of the revenue of fantasy sports platforms was driven by IPL matches. Last week, fantasy gaming company Dream11 won a three-year contract to become a lead sponsor of India’s national cricket team for three years, replacing educational technology firm Byju’s after the end of a contract in March. Over the past five IPL seasons since 2019, fantasy gaming apps have seen a compound annual growth of 18 percent of cash users every year, while total market revenue in the same period has crossed more than US$1 billion, industry estimates showed.
