The revenue of fantasy gaming apps during IPL 2023 witnessed a significant jump. As per Redseer’s report, the gross gaming revenue of fantasy sports platforms in India reached INR 2800 Cr during IPL 2023, compared to last year’s season where it was INR 2200 Cr. This represents a 24% year-on-year increase.
The growth of fantasy gaming apps in India is driven by several factors. These include the increasing popularity of cricket, the widespread availability of high-speed internet, and the rise in smartphone usage. Fantasy gaming platforms enable users to create virtual teams of real-life cricketers and earn points based on their performance in live matches. This allows users to enjoy the excitement of cricket betting without the need to risk real money.
However, the growth of fantasy gaming has faced criticism as well. Some individuals argue that fantasy gaming should be considered a form of gambling and be subject to government regulations. Conversely, others contend that fantasy gaming is a skill-based activity and should remain unregulated.
The debate regarding the legal status and regulation of fantasy gaming apps is expected to persist in India. Nevertheless, it is undeniable that fantasy gaming has become a popular and rapidly expanding industry in the country.
The growth of fantasy gaming in India is a sign of the increasing popularity of sports betting in the country. As the popularity of sports betting continues to grow, it is likely that the government will eventually need to regulate the industry.
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