With IPL being suspended, online mobile gaming industry experts are anticipating the fantasy sports sector to face a difficult time. The suspension of IPL being could hinder the growth of online fantasy sports in the country.
Indian Fantasy Sports Could Witness 80% Drop In Revenue Post IPL Suspension
The suspension of the Indian Premier League (IPL) 2021 has been the talk of the town lately! The Board of Cricket Council in India (BCCI) has announced to postpone the tournament series indefinitely, as many players and staff members have tested positive for COVID-19. BCCI has come up with the decision to suspend the Indian Premier League(IPL) 2021 for the safety of players, and other staff members that have been organizing the matches.
It all started when two players, Varun Chakravarthy and Sandeep Warrier were tested positive. Eventually, the number of players testing positive for COVID-19 just kept increasing despite being kept in a bio-bubble. Sourav Ganguly led-BCCI had to call for an emergency meeting and concluded that postponing the IPL 2021 series was the best alternative.
With this suspension, online mobile gaming industry experts are anticipating the fantasy sports sector to face a difficult time. The suspension of IPL being the largest cricket property could hinder the growth of online fantasy sports in the country. While talking about the suspension of the Indian Premier League(IPL) 2021, Roland Landers, CEO, All India Gaming Federation (AIGF) said, “The suspension of IPL 2021 will massively affect the top-line revenues of fantasy sports platforms and digital gaming industry. Since IPL is the most lucrative and valued sport in the world most major brands associate with it to reach their target audiences and drive engagement.”
Many fantasy sports platforms and top gaming companies launched new campaigns milking on the opportunity that IPL provides every year. As people are frantically looking for in-house entertainment and mobile gaming during the pandemic, IPL 2021 suspension is sure to have a short-term effect on various businesses. As the suspension of IPL has caused the Indian Fantasy Sports a drop of 80% in revenue, other sports will have to take charge to be the backup plan to minimize damage. Although Indian Fantasy Sports could see a major drop in revenue for a short period of time due to IPL suspension, online gaming in India will definitely bounce back as the T20 World Cup season is scheduled for October-November 2021.
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