Ashneer Grover’s Cricpay Fantasy Sports App All Set To Debut Just Ahead Of IPL 2023 | Loktej Business, Cricket News
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New Delhi – Ashneer Grover’s new venture, Third Unicorn, is foraying into the booming fantasy sports market with the launch of Cricpay, a fantasy sports app, ahead of the Indian Premier League (IPL) 2023 starting March 31. The app will compete with the likes of Dream11 and Mobile Premier League (MPL).
In a tweet, Grover described CricPay as “the biggest revolution in cricket since IPL” and the only fantasy game where cricketers are rewarded for their performance. Cricpay will charge a 10% platform fee for any public or private competition and it is open to players above 18 years of age. Users can create virtual cricket teams and participate in paid tournaments to earn cash prizes.
According to its description on the Google Play Store, CricPe is unique because it not only gives cash prizes to fantasy game winners but also to real playing cricketers, cricket bodies and real team owners for every match.
The online fantasy sports market dominated by Dream11 is witnessing significant growth. A report by the Federation of Indian Fantasy Sports (FIFS) in association with Deloitte estimates India’s fantasy sports market to grow from Rs 34,600 crore in FY21 to an estimated Rs 1,65,000 crore by FY25, registering an annual growth rate of 38 per cent (CAGR). India is the largest fantasy sports market in the world with a user base of over 130 million.
CricPay is the brainchild of Ashneer Grover, former co-founder and managing director of BharatPe, and his wife Madhuri Jain Grover. They aim to capture share of the growing fantasy sports market with their innovative platform.
In a recent LinkedIn post, Ashneer noted that Third Unicorn is developing a “market shaking” business that is “bootstrapped” and “without the limelight.” Grover explained his intention to launch this venture without first seeking funds from investors, highlighting his belief in Cricpay’s ability to disrupt the competitive fantasy sports market. Launching just ahead of IPL 2023, how the app fares against established rivals like Dream11 and MPL remains to be seen.
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