The Redseer Report shows a 24% jump in gross gaming revenue from INR 2250 Cr in IPL 2022.

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Indian Premier LeagueSeason 2023
- Market Overview
June’23

2. 2
Agenda
• Section 1
o IPL 2023 Analysis - Executive Summary
• Section 2
o IPL 2023 Ad Revenue

3. 3
IPL 2023Analysis - Executive Summary

4. 4
2250
2800
IPL 2019 IPL 2020 IPL 2021 IPL 2022 IPL 2023
Fantasy sports platforms cumulatively made~ INR2,800 Cr. in Gross GamingRevenue during IPL
season in 2023
Fantasy Sports Market Size during IPL- Gross Gaming Revenue
In INR Cr, 2019 – 2023
Source(s): RedSeer IP, RedSeer Analysis
Note(s): Market Size is considered as Gross Gaming Revenue (GGR)
Gross Gaming Revenue (GGR) is the commission platforms earn from the commission charged (pre-GST and pre-Cashback /bonus etc.).
GGR includes IPL revenue along with Non-IPL cricket matches and other sporting events
Mega Tables is the sum of all the highest prize pool tables in every match across platforms
24%
Key Insights
~30%
CAGR
Section 1: IPL 2023 GGR
Projected
Revenue:
INR 2,900 Cr.
Actual Revenue:
INR 2,800 Cr.
Accuracy of
Projection:
96%
• IPL 2023 witnessed a revenue of
~INR 2,800 Cr.. with ~61 million
users participating on Fantasy
Gaming Platforms this Season
• Growth in Revenue is driven by two
major factors: Transacting Users and
AverageRevenueper user, which
grew by 11% and 12% respectively
from IPL 2022
• Top 3 Platforms captured ~96%of
the Market Share during the IPL 2023
Season
• Mega Tables contributed to ~60% of
the overall Revenue during the IPL
2023 season
• ~13% of the revenue came from non-
IPL sporting events during the IPL
2023 Season

5. 5
IPL 2023hada StrongUser Acquisition Engine with 35%of Users playingfor theFirst Timein IPL
2023
Cash Users
In Million, IPL 2019 – IPL 2023
Note(s): Cash Users are the number of active cash users making transactions during IPL Days
New Users are users who have played fantasy sports using cash/money for thefirst time
Source(s): RedSeer IP, RedSeer Analysis
Section 1: IPL 2023 Cash Users
55
IPL 2019 IPL 2020 IPL 2021 IPL 2022 IPL 2023
61
+11%
Key Insights
• An 11% increase in Cash Users in IPL
2023 was driven by an influx in New
Users, who contributed to 35% of
Cash Users in IPL 2023
• Over the past five IPL seasons (from
IPL 2019 to IPL 2023), there has been
a compound annual growth rate
(CAGR) of 18% of Cash Users
• Users had an average spend per
matchof ~INR 127/- during IPL 2023
• Platforms had an AverageRevenue
Per User (ARPU) of ~ INR 458/- during
IPL 2023
18%
CAGR

6. 6
AverageGross Gaming RevenuePer Match duringWeekdays was 1.3x compared to Weekends, and
peaked duringtheFinal Match
Section 1: IPL 2023 Avg. GGR Per Match
Source(s): RedSeer IP, RedSeer Analysis
Final Match
Playoffs
League Matches
1.6 x
Weekdays
Weekends
1.3 x
Avg. GGR Per Match – Match Type Split
In INR Cr., IPL 2023
Avg. GGR Per Match – Weekends vs Weekdays
In INR Cr., IPL 2023
The Mega Tables’ size
reduced by 30% during
Weekends, due to
multiple matches on
the same day
Note(s): Gross Gaming Revenue (GGR) is the commission platforms earn from the commission charged (pre-GST and pre-Cashback /bonus etc.)
Average (Avg.) GGR Per Match is the SUM of GGR for the given matches divided by the number of matches
2.5 x

7. 7
Mega Tables have a higher Rake Rate of 24%, contributing60%to Revenue(GGR) whileaccounting
for only 55%to amount collected from Users (GGV)
Section 1: IPL 2023
Source(s): RedSeer IP, RedSeer Analysis
55%
60%
45%
40%
GGV GGR
12,262 2,800
GGV, Prize Pool andGGR – MegaTables Vs Non-Mega Tables
In INR Cr., IPL 2023
Note(s): Gross Gaming Value (GGV) is the amount collected by platforms through entry fees
Mega Tables is the sum of all the highest prize pool tables in every match across platforms
Gross Gaming Revenue (GGR) is the commission platforms earn from the commission charged (pre-GST and pre-Cashback /bonus etc.)
GGV, Prize Pool & GGR
Mega Tables
Non-Mega Tables
Rake Rate
(%)
~21%
~24%
GGV GGR

8. 8
IPL 2023Ad Revenue

9. 9
A total of 10,120 Cr. is spent on Advertisement during IPL’23; BCCI, FranchiseandBroadcasters
earned 65%of the totalspend
65%
35%
10,121
Indirect
Direct
71%
14%
12%
3%
6,580
BCCI Sponsorship
In Stadium Advertising
Franchise Sponsorship
Broadcaster Adverting Revenue
Key Insights
• In-stadium Ad revenue is
distributed between
franchise and BCCI
• BCCI sponsorship revenue
is distributed between BCCI
and franchise.
Note(s): BCCI earned sponsorship revenue from title sponsors, co-sponsors, associate sponsors, time-out sponsors and umpire sponsors
Franchisees earn sponsorship revenue from the various principal sponsors, associate sponsors, and official sponsors
Broadcaster Revenue- Star and Jio Cinema earned revenue from advertisement shown during the matches
In direct Ad revenue- includes Ad revenue earned by social media platforms, traditional media, and other internet platforms
Advertisement Revenue
In INR Cr., IPL 2023
Section 2: IPL 2023 Ad- Revenue
Direct Ad Revenue
IPL Ad Revenue Direct Ad Revenue
BCCI Ad Revenue 430 Cr
Franchise Ad
Revenue 1450 Cr
4700 Cr
Broadcaster Ad
Revenue
Source(s): RedSeer IP, RedSeer Analysis

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