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Fantasy sports segment revenue is expected to grow in the range of 30-35% to Rs 2,900-3,100 crore during the ongoing IPL 2023 cricket tournament season over the last year, market research firm Redseer Strategy Consultants said on Wednesday.

The data estimates show 6.5-7 crore users are expected to transact on gaming platforms.

Redseer Strategy Consultants, Partner, Ujjwal Chaudhry said there has been large awareness around fantasy sports platforms with higher marketing spend.

“We are now seeing Bollywood stars in promotion. There is now better clarity around the regulatory framework, GST. Another positive push has been from Google where it has allowed some fantasy platforms on Playstore under its pilot programme. All of these are very positive developments for fantasy sports in India. With all this we expect 20-30 per cent growth in users transaction,” he said.

Google has allowed apps of select fantasy sports—mainly big players like Dream11, Games24X7’s My11Circle, MPL Rummy, and Fantasy Cricket—under its pilot programme.

“We expect the gross gaming revenue of fantasy sports during the ongoing IPL season to reach Rs 2,900-Rs 3,100 crore. This includes all the fantasy cricket platforms in India. This is around 30-35 per cent higher compared to the IPL season last year,” Chaudhry said.

IPL 2023 cricket tournament started on March 31 and will continue till the end of May.

He said that in the last 4-5 years, the growth in user base has been to the tune of 20% but this year it is expected to be in the range of 20-30%.

“Our estimates suggest that the average revenue per user is expected to grow from Rs 410 in IPL 2022 to Rs 440 per user in IPL 2023,” Chaudhry said.

According to Redseer, the IPL season contributes 35-40% of the entire revenue that fantasy gaming platforms earn throughout the year.