CEO Sunil Yadav informs that the platform has quadrupled its IPL budget this year.
The Indian Premier League (IPL) campaign of online fantasy gaming platform PlayerzPot revolves around people’s obsession with various things, one of them being cricket. PlayerzPot has secured popular comedian and TV actor Kiku Sharda for their IPL 2022 campaign.
The campaign uses the Disney+ Hotstar OTT platform, short video apps and PlayerzPot’s social media channels, as part of its media mix.
Speaking about the importance of the IPL to the brand, Sunil Yadav, CEO of PlayerzPot, says, “In fantasy games, cricket takes up most of the revenue. Our IPL campaign wanted to reach an audience that is now more mature than a few years ago. They are aware of the segment and the value proposition and USP that PlayerzPot offers.
According to the FICCI-EY Media and Entertainment Report 2022, India’s fantasy sports industry is growing at a CAGR of 32% and is expected to reach 2.5 billion by 2022. India had over 360 million players in 2020 and there will be 510 million players. by 2022-end.
Elaborating on the brand’s IPL campaign, Yadav says, “Thanks to our campaign, we saw an increase of about 50% in registrations during the first phase of IPL 15. The campaign also helped the brand to retrieve users who used the app when it launched in 2016.”
Yadav advises that PlayerzPot’s IPL 15 ad spend has increased to approximately 400% of IPL 14 ad spend.
PlayerzPot went the OTT route because the medium provides it with the right kind of reach and eyeballs. So far, the IPL campaign has resulted in a 35% increase in users, Yadav shares.
Over time, major players in the segment have come together to form industry bodies that serve the needs of the segment, whether it’s raising user awareness or solving legal or governmental issues. “There is increased participation not only from Indian institutional investors, but also from foreign investors, which is a good sign for the industry,” adds Yadav.
Mentioning the fantasy games player’s USP, Yadav explains that PlayerzPot noticed that users were facing an issue in withdrawing money on the app. So, he created an instant withdrawal feature. According to him, Playerzpot was the first to do so and other players later followed suit.
Yadav agrees that lately the online gambling industry has become very competitive. He says that due to people’s low attention spans and diminished sense of loyalty to a particular platform, it’s more about the value consumers get and not the value a mark or a player offers them.
Since gambling in India is a state-regulated entity, most gamblers face issues related to certain legal regulations. If any ban is imposed in a particular state, it can lead to a number of problems.
Gambling, betting, horse racing, etc. fall under the 28% band of GST in India. The GST paid on games of skill is also 28%, which is equivalent to that of games of chance. Online gambling is divided into games of chance and skill. Unlike a game of chance, where the outcome is based on a yes or a no, a game of skill requires player input and tactics to win. A distinction between these games, in terms of how they are considered legally, is necessary.
“The global segment is asking for the GST to be reduced to 18% on skill-based games. If there is a clear government framework on the demarcation of different games, it will bring more clarity and lead to better growth of our industry,” concludes Yadav.