Fantasy Sports Revenue decline in 2024; Poker, Rummy Thrive

Prepend to the content

Fantasy sports platforms in India saw a revenue decline in 2024, with earnings from commissions on user contest fees dropping to ₹8,800 crore from ₹11,000 crore in 2023, As reported by Moneycontrol, the Redseer report highlights a shift in the real money gaming sector, with varied performances across game categories.

The fantasy sports segment experienced a 58% year-on-year (YoY) revenue drop, contributing to an overall slowdown in real money gaming growth rates. Despite the decline, November 2024 offered a relief with month-on-month (MoM) growth of 28%, generating ₹550 crore. This resurgence was attributed to increased engagement in international leagues like Australia’s Big Bash and high-profile India-South Africa matches. Monthly Active Cash Users (MACUs) for fantasy sports grew 29% during this period, but Average Revenue Per User (ARPU) stagnated compared to October 2024.

Rummy’s gross Gaming Revenue (GGR) grew 6% YoY to ₹16,000 crore in 2024. However, November witnessed an 8% MoM dip to ₹1,570 crore, driven by reduced engagement, fewer games, and a shift to lower-value tables. Poker’s GGR increased to ₹2,100 crore in 2024 from ₹1,800 crore in 2023. November saw modest MoM growth, with PokerBaazi leading at 4%, propelled by the GOAT tournament. Casual gaming outpaced other categories with a 71% YoY increase in GGR to ₹4,300 crore. November added to this trend, growing 6% MoM to ₹505 crore. Platforms like Zupee, MPL, and WinZo contributed to this surge through user acquisition and strategic events like STANFEST 2024.

The report also highlighted the pressure on gaming platforms to optimize profitability amid revised GST regulations introduced in late 2023. Despite a 192% hike in GST taxations, Net Gaming Revenue (NGR) improved to 35% of GGR by Q3 2024, driven by cost-cutting measures such as reduced marketing expenses.

Vision 11 outperformed peers with a 53% MoM GGR growth in November, driven by a 50% rise in international games and a 100% increase from the Pro Kabaddi tournament. Platforms such as Gameskraft Rummy, Rummy Circle, and Junglee Rummy faced MoM declines, with reductions ranging from 3% to 10%. PokerStars and Junglee Poker maintained steady MoM growth of 1%, prioritizing organic acquisitions over aggressive marketing. Zupee grew 7% MoM in November, benefiting from sponsorship strategies, while MPL and WinZo posted 5% and 4% growth, respectively.

The Redseer report highlights a shift in India’s online gaming landscape, with fantasy sports losing ground to casual games, poker, and rummy. Platforms are now navigating a complex environment shaped by regulatory changes, fluctuating user engagement, and evolving player preferences. As the sector adapts, the focus on profitability and sustainable growth remains paramount.

The post Fantasy Sports Revenue decline in 2024; Poker, Rummy Thrive appeared first on G2G News.