Times Internet Expands Into Fantasy Gaming With Cricbuzz11 Amid Industry Challenges

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Times Internet, the parent company of Cricbuzz, has officially entered the fantasy gaming market with the launch of Cricbuzz11. The platform allows users to participate in fantasy sports contests during major cricket tournaments.

According to Inc42, Cricbuzz11 was launched during the ongoing Champions Trophy and Women’s Premier League (WPL). The move also comes ahead of the highly anticipated Indian Premier League (IPL), a major event for fantasy gaming platforms.

The fantasy gaming platform is available as an APK file for Android users, while iOS users can access it within the core Cricbuzz application. Times Internet has not yet responded to queries regarding the launch.

Cricbuzz11 enters a highly competitive market, going head-to-head with platforms like Dream11, MPL, and My11 Circle. Users can currently participate in contests related to the Champions Trophy and WPL.

The launch coincides with a turbulent time in the industry. Recently, Ashneer Grover-led CrickPe halted operations due to regulatory challenges. Inc42 reported that CrickPe’s parent company, Third Unicorn, ceased operations after the implementation of a 28% Goods and Services Tax (GST) on real-money gaming.

The GST Council introduced the new tax rate in 2023, applying it to the full face value of bets in real-money gaming. Previously, the sector was taxed at 18% on platform fees for skill-based games. The increased tax rate took effect on October 1, 2023, despite strong opposition from gaming industry stakeholders.

Ashneer Grover had earlier attributed the shutdown of CrickPe to what he called a “misplaced connotation of gambling with gaming in India.” Industry leaders have expressed similar concerns about the stigma surrounding real-money gaming.

Meanwhile, gaming companies in India have been hit with retrospective GST notices totaling over ₹1 Lakh Cr. In a recent development, the Supreme Court temporarily halted GST proceedings against 49 real-money gaming companies. Among the affected companies are industry giants such as Dream11, Games 24×7, Gameskraft, and Head Digital Works.

As Cricbuzz11 steps into the fantasy gaming space, the platform will have to navigate these industry challenges while competing with established players. The coming months will determine how it positions itself in an evolving regulatory and competitive landscape.

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