IPL Cancellation affects Revenue of Top Betting Sites in India

According to one KPMG study, online betting companies in India earned more than 900 crore INR in gross revenue in 2019.

Home ยป IPL Cancellation affects Revenue of Top Betting Sites in India

Is the Indian Premier League (IPL) the world’s largest T20 cricket league? While some of you may disagree, none of us can deny that it is one of the richest sports leagues. As a result, everyone is involved in the league, from reserved players to commentators, and from coaches to online betting companies.

Unfortunately, many athletes and administrative personnel were unable to obtain their bio-bubble. As a result, the BCCI decided to postpone the IPL 2021 season due to the high number of players infected with the COVID-19 virus. Despite several efforts by the tournament’s hosts, the board has now decided to discontinue the league’s current season.

While there have been rumors about the league returning in the future months, nothing has been verified. So, let’s have a look at why this is such a significant thing for these betting sites:

How is IPL cancellation terrible news for online betting sites in India?

In terms of the IPL 2020 season, the T20 league had a record audience of more than 400 million viewers. As a result, the suspension of such a league has had a significant impact on the earnings of betting companies. Furthermore, the Indian betting business is still in its early stages and primarily relies on such sports tournaments. In addition, numerous online betting services and fantasy sports organizations were supporting multiple franchises in the IPL 2021. As a result of the league cancellation, the revenue from ads for such betting sites has already begun to decline.

Aside from that, many customers on these betting sites are confused about their previous wagers. Furthermore, professional casino players whose financial security is dependent on betting sites are stranded. As a result of the BCCI’s decision, everyone is in complete disarray and has suffered huge financial losses.

Detailed financial impacts of IPL suspension

Aside from the electrifying atmosphere and thrilling matches, each IPL season produces substantial money for sponsors and betting companies. However, the abrupt cancellation has surprised everyone, and many firms have already suffered huge financial losses. Here are a few examples of economic hardships:

Broadcasters such as Star India are expected to lose 20 sponsors and 100 advertising. Many sponsors and online betting companies, according to experts, may lose up to 200 crore INR.

If the BCCI decides not to re-start the competition this year, the financial loss may be quadrupled. AIGF CEO Roland Landers recently indicated that the suspension of the IPL will have a significant impact on fantasy sports platforms.

According to one KPMG study, online betting companies in India earned more than 900 crore INR in gross revenue in 2019. Similarly, the betting industry’s overall income will surpass 2000 crore INR in 2020. As a consequence, the sector is expected to generate more than 3000 crores by 2021. However, the league’s ban has completely altered the landscape, and betting companies are suffering as a result. Finally, many analysts believe that the termination of the IPL has resulted in an 80 % drop in income.

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