Indian iGaming Industry Shifts Post-IPL 2024

The conclusion of the 2024 Indian Premier League (IPL) has brought significant changes to the Indian iGaming industry, as analyzed by Blask, a leading iGaming analytical toolkit. Their insights reveal notable shifts in market share and the rise of top betting brands during the IPL season.

Blask Index Insights

Blask’s proprietary Blask Index, which tracks engagement across iGaming brands, saw substantial shifts during the IPL. According to open source intelligence data:

  • Engagement soared from 973,000 on March 21 to 1.9 million on March 22, the tournament’s kickoff.
  • It peaked at 2.1 million on April 28, coinciding with high-profile matches such as Gujarat Titans vs. Royal Challengers Bangalore and Chennai Super Kings vs. Sunrisers Hyderabad.
  • On the final day, May 26, engagement remained strong at 1.8 million.

Market Dynamics and Brand Shifts

Key changes in the competitive landscape were observed:

  • Stake ascended from 4th to 1st place, achieving a 47.69% increase in market share, surpassing Parimatch, Dafabet, 1xBet, and 4Rabet.
  • Parimatch, Dafabet, 1xBet, and 4Rabet experienced declines in their market positions.
  • Fairplay entered the top 10 brands list, replacing Fun88 with a slight market share difference (0.89% vs. 0.65%).
  • Stake led in month-over-month growth with a 362% increase, followed by Parimatch, 4Rabet, Dafabet, and 1xBet.

First-Time Deposits (FTDs) and Gross Gaming Revenue (GGR)

Blask’s analysis, using AI and open-source data, evaluated the performance of major iGaming brands during the IPL. The assessment of FTDs and GGR highlighted the following:

FTD Growth:

  • Stake: 147% in March, 350% in April (~302,000 deposits)
  • Parimatch: 42% in March, 30% in April (~328,000 deposits)
  • Dafabet: 54% in March, 21% in April (~267,000 deposits)
  • 1xBet: 102% in March, 0.2% in April (~76,000 deposits)
  • 4Rabet: 73% in March, 30% in April (~62,000 deposits)

GGR Growth:

  • Stake: 120% in March, 296% in April (~$17 million)
  • Parimatch: 23% in March and April (~$30 million)
  • Dafabet: 17% in March, 13% in April (~$29 million)
  • 1xBet: 38% in March, 8.5% in April (~$7.8 million)
  • 4Rabet: 30% in March, 23% in April (~$5.9 million)

Market Analysis and Future Outlook

Max Tesla, CEO of Blask, commented on the findings, stating, “The IPL 2024 has sparked significant changes in India’s iGaming industry. Our analysis shows that the market is dynamic, with newcomers like Stake making big gains and established brands facing more competition. When comparing the Blask Index from April 2023 to April 2024, we observed a remarkable increase of over 70%, demonstrating the immense potential and growth of the Indian iGaming market.”

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The IPL 2024 has not only showcased the excitement of cricket but also marked substantial growth in the Indian iGaming sector. With new players like Stake making significant strides and established brands experiencing intense competition, the future of iGaming in India looks bright. The industry is poised for further expansion and innovation, indicating a promising trajectory in the years to come.

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