New Delhi, April 19 (IANS) The ongoing Indian Premier League (IPL) season is serving as a significant economic driver, fostering business growth and engagement across various sectors, including fantasy sports revenue.
Gaming app platforms like Dream11 and My 11 Circle have shown an impressive surge in both daily active cash users and revenue per person.
This year, the fantasy sports revolution is sweeping through smaller towns and cities, with over 65 per cent of revenue coming from local internet economies.
According to Saurav Kumar Chachan, Associate Partner at market research firm Redseer Strategy Consultants, fantasy sports revenue is gearing up for a 25-30 per cent surge compared to last year, reaching $500-525 million in IPL 2024.
“It’s this grassroots enthusiasm that’s fuelling the fantasy platforms’ meteoric rise,” he said.
The spike in user engagement and investment during the IPL season has fuelled this segment’s rapid growth, “proving that fantasy sports are no longer just a niche hobby but a major economic driver,” the report noted.
While daily cash users have jumped by 2.8 times from the Business as Usual (BAU) standards, the fantasy sports market revenue has seen a substantial 2.3 times increase in the limited amount of matches that have been played.
Guaranteed cash prizes have also increased compared to the highest prizes from BAU.
The Fantasy sports platforms have also increased the distribution of cash prizes.
“Dream 11, for instance, has provisions where up to four winners can win a minimum of $125k per day,” said the report.
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”.
–IANS
na/prw
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
