Fantasy Gaming Apps Hit New Heights During IPL 2023

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Fantasy Gaming Apps Hit New Heights During IPL 2023

The revenue of fantasy gaming apps in India jumped to Rs 2,800 crore during the Indian Premier League (IPL) 2023 season, according to a report by Redseer. This is a significant increase from the revenue of Rs 1,800 crore during the IPL 2022 season.

The growth of fantasy gaming apps is being driven by the increasing popularity of the IPL, as well as the growing availability of smartphones and internet connectivity in India. Fantasy gaming apps allow users to create virtual teams of real-life cricketers and score points based on their performance in the IPL matches.

The growth of fantasy gaming apps has also been accompanied by a debate about whether they are games of chance or skill. Some people argue that fantasy gaming apps are games of chance, as the outcome of a match is unpredictable. Others argue that fantasy gaming apps are games of skill, as the outcome of a match can be influenced by the user’s knowledge of cricket and their ability to select the right players.

The debate about the nature of fantasy gaming apps is likely to continue. However, there is no doubt that they have become a popular form of entertainment in India, and they are likely to continue to grow in popularity in the years to come.

“The growth of fantasy gaming apps is a testament to the popularity of the IPL and the increasing availability of smartphones and internet connectivity in India,” said Sidharth Jain, analyst at Motilal Oswal Financial Services. “However, the debate about the nature of fantasy gaming apps is likely to continue.”

  • The number of active users of fantasy gaming apps in India is estimated to be around 100 million.
  • The average monthly spending by a fantasy gaming user in India is around Rs 500.
  • The fantasy gaming market in India is expected to reach Rs 10,000 crore by 2025.

The growth of fantasy gaming apps in India is being driven by a number of factors, including:

  • The increasing popularity of the IPL
  • The growing availability of smartphones and internet connectivity in India
  • The increasing awareness of fantasy gaming apps among the Indian population

The growth of fantasy gaming apps has also been accompanied by a number of challenges, including:

  • The lack of regulation in the fantasy gaming industry
  • The potential for addiction to fantasy gaming
  • The risk of fraud and scams

The GST Council and Meity must provide clarity on legal status of online gaming industry

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