India’s online betting and fantasy gaming industry has witnessed exponential growth in recent years, with the Indian Premier League (IPL) serving as a major catalyst. What began as a niche market has transformed into a multi-billion-dollar industry reaching millions of users across the country.
Market Size and User Base
The online betting landscape in India now boasts over 140 million regular users, with this number swelling to approximately 370 million during major sporting events like the IPL. Fantasy gaming platforms alone have captured more than 180 million users across 300+ platforms, according to recent industry reports.
Dream11: The Market Leader
Dream11 has established itself as the undisputed leader in India’s fantasy sports market. As the official fantasy gaming partner of the IPL, Dream11 has leveraged cricket’s popularity to build a user base exceeding 100 million. During the IPL season, the platform typically sees a 40-50% surge in daily active users.
The company achieved unicorn status in 2019 and has continued its upward trajectory, with recent valuations placing it at approximately $8 billion. Dream11’s success story is particularly remarkable considering it operates in a regulatory environment that often distinguishes between “games of skill” (legal) and “games of chance” (illegal in most states).
My11Circle: The Challenger
My11Circle has emerged as a significant competitor to Dream11, employing aggressive marketing strategies featuring cricket celebrities like Sourav Ganguly and Shubman Gill. The platform has reported user growth of over 50% year-on-year during recent IPL seasons.
With its “Play with Champions” concept, My11Circle has carved out a distinctive identity in the market, offering users the unique opportunity to compete against cricket legends in fantasy contests.
The IPL Effect
The IPL has been instrumental in driving the growth of online betting in India. During the tournament’s two-month window, platforms typically report:
- 200-300% increase in new user registrations
- 150% rise in daily transaction volumes
- 3-4x growth in advertising expenditure
- 60-70% increase in time spent by users on platforms
Cricket accounts for approximately 85% of all fantasy gaming revenue in India, with the IPL contributing the lion’s share.
Challenges and Outlook
Despite its tremendous growth, the industry faces regulatory challenges as states take varying approaches to fantasy gaming and betting. The government has intensified scrutiny of offshore betting entities, with about 700 operations currently under investigation.
As the market matures, industry leaders are investing in responsible gaming initiatives and age verification systems to address growing concerns about addiction and financial exploitation, particularly among younger users.
With the digital infrastructure continuing to improve and smartphone penetration increasing in tier 2 and tier 3 cities, India’s online betting industry appears poised for sustained growth in the coming years, especially as the IPL continues to expand its footprint both domestically and globally.
