The burgeoning competitiveness within the Indian fantasy sports industry presents a significant advantage for Indian cricket, particularly evident in the context of the IPL.
The latest Indian Premier League (IPL) associate sponsorship for the official fantasy partner has completely changed the dynamics of the fantasy sports industry, experts are unanimous. With My11Circle outbidding the leading fantasy sports player by over Rs 110 crores, the deal not only underscores the immense potential of the category but also bodes well for the Indian cricket ecosystem.
There were a few surprises, though. For the records, Aramco and Saudi Tourism, two of the biggest sponsors of IPL, abstained from bidding for the associate sponsorship which is known as Official Partners (OPs) of the IPL. But all those present during the bidding process were unanimous that the most significant development was the victory of My11Circle over Dream11 in the fantasy game category.
Dream11, a long-time associate of the Board of Control for Cricket in India (BCCI) and the IPL, was outbid by My11Circle by over Rs 110 crore. Cricbuzz, a top sports website, said Dream11 submitted a bid of Rs 515 crore for five seasons (Rs 103 crore per season), while My11 Circle’s bid amounted to Rs 625 crore (Rs 125 crore per season).
“For the IPL watchers, this bidding outcome was significant as Dream11 has long been the leader in the fantasy games category. My- 11Circle, a brand endorsed by Sourav Ganguly and Shubman Gill, among others, surprised many by making a substantial investment in the IPL,” said Cricbuzz. Compared to the highest sponsorship value of Rs 1,000 crores per season last year across all sponsor categories, this year’s allocation for just the title and fantasy category stands at Rs 625 crores per season. Compared to Rs 48 crores per season last year for the official fantasy partner, it significantly increased to Rs 125 crores this season.
The burgeoning competitiveness within the Indian fantasy sports industry presents a significant advantage for Indian cricket, particularly evident in the context of the IPL. As one of the most renowned T20 tournaments globally, the IPL has not only spurred the growth of fantasy sports but has also reaped its benefits. Various new fantasy brands, including My11Circle, Myfab11, and Vision11, have made substantial investments ranging from Rs 20 crores to Rs 5 crores per season to secure associations with the lucrative league.
These partnerships vary from lead jersey sponsorships to smaller affiliations. In the 2023 season, the active participation of a staggering 61 million users in fantasy gaming, as reported by Redseer Strategy Consultants, further underscores the industry’s exponential growth. Moreover, the financial implications of this mutually beneficial relationship are profound. The total ad spend was Rs 10,120 crore during the IPL 2023.
Consider this one. In fact, fantasy sports platforms have also helped in elevating new sports properties giving them a formidable opportunity to shine and compete for eyeballs. In 2022, My11Circle became the first fantasy sports platform to take up the title sponsorship of a domestic cricket series for women, charting the course for the evolution of Women’s T20 Challenge into the fullfledged Women’s Premier League (WPL).
The very next year, Dream11 took the online fantasy sports partnership for WPL. This goes beyond numbers. When there is limited competition, the focus is mostly on top talent and first few teams. Dream11 led the way in picking up key Indian cricketers to promote and establish fantasy sports in India. As competition grows, both past and upcoming cricketers have a greater opportunity to explore and secure endorsement deals. For example, My11Circle has on boarded and given exposure to at least five emerging cricket talents, all of whom have established themselves as significant IPL players.
Same has been done by Howzat and others. From current players to former players, everyone has found a niche within this burgeoning ecosystem, further fuelling the symbiotic relationship between sports and fantasy gaming. As another season of the IPL is set to start in a few days, an indicator of the segment’s popularity can be gauged from the fact that more than half the teams in the world’s most popular T20 tournament have sponsorship deals with platforms like Dream11, My11Circle, MyFab11 and Vision11.
This fierce competition in the online fantasy category continues to drive growth and innovation within the IPL ecosystem, ultimately benefiting fans, teams, players, and the league as a whole. Growth is, after all, a part of the game. Let the game start.