Ahead of IPL, Ashneer Grover launches fantasy sports app Cricpay

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New Delhi. Ahead of the Indian Premier League (IPL) starting March 31, Ashneer Grover’s new venture Third Unicorn has launched a fantasy sports app called Cricpay, which aims to challenge Dream11 and Mobile Premier League (MPL). “Biggest revolution in cricket since IPL – the only fantasy sport that pays cricketers. Where you win, cricketer wins, cricket wins,” Grover said in a tweet.

Cricpay will levy a platform fee of 10 percent of the total money received for any public or private tournament.

It allows players above the age of 18 to create a virtual team of cricket players and participate in paid tournaments to earn cash prizes.

According to its description on Google Play Store, “It is the only fantasy cricket app in the world where with every match, real playing cricketers, cricketing bodies and real team owners along with fantasy game winners win cash prizes.”

Dream11 currently dominates the online fantasy sports market.

Grover, former co-founder and managing director of BharatPe, and his wife Madhuri Jain Grover have launched a new venture Cricpay to grab a share of the fantasy sports market.

According to a report by the Federation of Indian Fantasy Sports (FIFS) in association with Deloitte, India’s fantasy sports market is expected to grow from Rs 34,600 crore in FY11 to an estimated Rs 1,65,000 crore by FY 2025, an increase of 38%. Enters the percentage CAGR.

India is the largest fantasy sports market in the world with a user base of over 130 million.

According to data accessed through Toffler, the Grovers had registered the new company last year. The total paid-up capital of the firm was Rs.10 lakhs and the authorized share capital was Rs.20 lakhs.

Grover had said that he plans to start his venture without seeking funds from investors.

–IANS

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