The gross gaming revenue from fantasy gaming increased by 24 per cent to ₹2,800 crore with 61 million users participating in fantasy gaming compared to ₹2250 crore in IPL 2022, according to a report by Redseer Strategy Consultants.

Overall, the fantasy gaming platform has grown at a compounded annual growth rate of 30 per cent since IPL 2019, noted the report. The virtual teams put together by users help them score points through the real-life performances of their players in the match. At the end of the season, the participants can win prizes or cash based on their scores.

The strategy consultant’s analysis shows that the IPL 2023 had a strong user acquisition engine, with 35 per cent of new users playing for the first time on the platforms. As a result of the influx of new users, there was an 11 per cent increase in cash users during the season, with an average spend per match of ₹127 per user.

“The top three platforms captured 96 per cent of the market share during the IPL 2023 and had an average revenue of ₹458 per user for the season. The excitement of the IPL also trickled into non-IPL sporting events during the season, contributing to 13 per cent of the revenue,” said Ujjwal Chaudhry, partner at Redseer.

Analysing the average gross gaming revenue (GGR), Chaudhry notes that the GGR during weekdays was 1.3x compared to weekends and peaked during the final match. The Mega Tables, which is the sum of all the highest prize pool tables in every match across the platforms, dropped in size by 30 per cent during weekends due to multiple matches on the same day. However, Mega Tables have a higher rake rate of 24 per cent, contributing 60 per cent to the revenue during the season.

Furthermore, during the latest season, a total of ₹10,000 crore was spent on advertisements, of which BCCI, franchises, and Broadcasters earned 65 per cent of the total spend as direct revenue. The remaining 35 per cent of indirect revenue was earned