Fantasy sports made Rs 2,800 crore in gross gaming revenue during IPL 2023

Fantasy sports made Rs 2800 crore during the IPL season in 2023 with 61 million users participating on Fantasy Gaming platforms, according to an analysis by Redseer Consultants. This is a 24 per cent jump in gross gaming revenue from Rs 2,250 crore in IPL 2022, and the market has grown at a CAGR of 30 per cent since IPL 2019.

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. Fantasy gaming apps gained popularity during the pandemic.