The Indian Premier League (IPL) kicked off its latest season last month, and its influence is reverberating far beyond the cricket pitch. As of April 2025, this season is delivering a batting spectacle, with players shattering records and captivating fans worldwide. Yet, beneath the thrilling matches and standout performances, the IPL is quietly powering a massive economic engine, driving growth across multiple sectors in India.
Running parallel to the on-field excitement is a rising star in the economic game: the fantasy gaming industry. With the IPL’s unique appeal and colossal fanbase, it’s become a golden window for fantasy sports platforms. These platforms aren’t just along for the ride this season, they’re fully in the game, capitalising on the cricket fever. User engagement and investments are surging, transforming fantasy sports from a casual pastime into a significant economic contributor. Let’s dive into this vibrant ecosystem where cricket meets commerce, and explore whether it’s truly recession-proof!
IPL’s Economic Backbone: Fantasy Gaming Steps Up
The IPL isn’t just a cricket tournament, it’s a nationwide force that ripples through industries, sparking excitement and generating substantial revenue. Businesses, especially in the fantasy gaming space, are tapping into this momentum with smart strategies. This year, the fantasy sports wave is sweeping through Tier 2 cities and beyond, with over 65% of revenue coming from these emerging digital hubs. This grassroots surge is propelling fantasy platforms to unprecedented levels. Current trends suggest fantasy sports revenue could climb 25-30% from 2023.
Fans in the Driver’s Seat: Engagement Goes Big
Now, let’s zoom into the heart of the action — fantasy leagues. Platforms like Dream11 and My11Circle aren’t just about watching; they’re about getting involved. Fans build their dream teams and earn points based on real match outcomes, making it interactive and addictive. This season, user numbers are soaring, boosting app adoption and digital payments. As of IPL2024, daily active cash users have jumped 2.8 times compared to regular levels (Business as Usual, or BAU), while revenue has risen 2.3 times in the matches played so far.
What’s behind this boom? Cash prizes have doubled or more compared to non-IPL days. First-place winnings now range from ₹3-4 crore, up from ₹1.5 crore typically. Dream11 is offering ₹1 crore minimum to up to four daily winners, with programs like “11 Crorepatis” and “50 Lakhpatis” spreading the wealth. My11Circle has upped the ante, moving from one grand prize to handing out cars and bikes to the top 10 winners. This has triggered a flood of new users eager to cash in on the excitement.
Flying Start: Profits Off the Mark
With 21 of the 74 scheduled matches done, this IPL season is already a money-spinner for fantasy platforms. Sharp marketing and a wave of new users have driven revenues up. The industry in India has experienced rapid expansion in recent years, with a compound annual growth rate (CAGR) of 30% between FY22 and FY24. The global fantasy sports market size was valued at USD 32.21 billion in 2024 and is expected to grow from USD 36.75 billion in 2025 to reach USD 105.58 billion by 2033, growing at a CAGR of 14.1% during the forecast period (2025-2033).
Next Innings: Innovation Takes the Lead
In IPL 2025, fantasy platforms are raising the bar with new features and campaigns to enhance the experience. Celebrity tie-ins and bold promotions are making these platforms more approachable and engaging. Here’s what’s fuelling the surge:
- Tech Boost: Features like Manager Mode, Quick Join, and Projected Points streamline team-building and offer performance previews, ensuring a slick and smart gaming experience.
- Bigger Prizes: Top winnings now hit ₹3-4 crore (up from ₹1.5 crore), delivering 2.6 times the reward for the same entry fee.
- Memorable Promotions: Taglines like “My11Circle’s one crore is just the start—imagine what’s next!” are keeping platforms front and centre.
- Celebrity Pull: Endorsements from cricketers and stars are amplifying excitement across regions and demographics.
These efforts are making participation easier and increasing visibility, positioning IPL 2025 as a landmark season for fantasy gaming.
The Big Picture: Cricket, Tech, and Cash Flow
The fantasy gaming explosion during IPL highlights a broader fusion of sports, technology, and economics. With the IPL as the spark, this synergy benefits everyone, from tech firms to small businesses in less urban areas. As the season unfolds, the stakes are high, not just on the field but in homes across India, where new users join the fantasy fray. This evolving space offers a window into how India embraces cricket, tech, and entrepreneurial energy.
Recession-Proof or Risky Bet?
So, is fantasy cricket recession-proof? The numbers suggest resilience. During economic downturns, discretionary spending often takes a hit, but India’s passion for cricket—and the IPL’s cultural dominance, provides a buffer. A 2023 Redseer report noted fantasy sports revenue grew 24% to ₹2800 crore during IPL 2023, even amid global economic uncertainty. This season’s projected ₹4500 crore revenue reinforces that trend. The low entry cost, often just a few rupees, combined with the allure of big prizes keeps users engaged, even when wallets tighten.
That said, it’s not invincible. Economic slumps could shrink disposable income, nudging some users toward free contests rather than cash games, potentially denting revenue. Regulatory risks, like the 28% GST hike in 2023, have also squeezed margins, with investments in the sector dropping 90% that year. Yet, the IPL’s pull and fantasy platforms’ adaptability, think loyalty programs and innovative features, suggest they can weather storms better than many industries. Posts on X echo this sentiment, with users calling IPL teams “recession-proof” due to their global appeal and loyal fanbase, though this optimism lacks hard data to back it up fully.
In short, fantasy cricket isn’t immune to downturns, but its deep ties to India’s cricket obsession and the IPL’s economy might make it more recession-resistant than most entertainment sectors. It’s a calculated gamble that’s paying off, for now.
Conclusion: More Than a Game
Is fantasy cricket an economic fluke or a lasting force? With ₹4500 crore projected for IPL 2025, and potential to ride out recessions, it’s proving its mettle as a heavyweight contender. As the season progresses, these platforms are more than a sideline; they’re a lens into India’s evolving economic story, driven by its unbreakable bond with cricket.
*The figures in the infographic which state are projected have been taken from The Mint anlaysis and projections –
https://www.livemint.com/companies/news/fantasy-sports-industry-india-tax-policy-online-gaming-tax-deloitte-dream11-mpl-my11circle-ballebaazi-11739427704066.html