Ashneer Grover’s CrickPe Claims 10 Lakh Downloads

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Former BharatPe MD Ashneer Grover’s fantasy cricket platform CrickPe has claimed 10 lakh downloads within a month of its launch. CrickPe allows users to create a fantasy cricket team and compete with friends on the app, similar to other fantasy sports apps. Users can also participate in group competitions against other players in a ranked match. The app also allows users to compete with real cricketers and their fantasy teams. CrickPe parent Third Unicorn raised $5 Mn (INR 40 Cr) at a valuation of close to $36 Mn (INR 290 Cr). The company is aiming to become profitable by the end of this IPL season. According to a report by Redseer Strategy Consultants, gross gaming revenue from fantasy sports during IPL 2023 is estimated to grow 30-35% to INR 2,900-3,100 Cr.

The market research firm Redseer Strategy Consultants has estimated that gross gaming revenue from fantasy sports during the IPL 2023 will grow by 30-35% to reach INR 2,900-3,100 Cr. In addition, the number of transacting users during the IPL season is expected to grow by 25-30% to reach 68 Mn in 2023 from 55 Mn in 2022. The average revenue per user is also expected to increase from INR 410 in IPL 2022 to INR 440 per user in IPL 2023. These projections suggest a positive outlook for the fantasy sports industry in India during the upcoming IPL season.  According to a Deloitte report, the Indian fantasy sports market is projected to grow at a compound annual growth rate of 40% to reach INR 1,65,000 crore by FY25. Cricket is expected to remain the highest revenue contributor, followed by football and kabaddi. The report also highlights the potential of the market, stating that fantasy sports can become a major part of the Indian sports ecosystem and can have a significant impact on the overall sports industry in the country.