Surat: Ashneer Grover, a prominent figure in the world of finance and technology and the Third Unicorn cofounder, recently expressed his views on the future of the fantasy sports industry during a press conference in Surat. His statements shed light on the potential challenges faced by this dynamic sector and its future prospects.
“The Industry is Dying,” Ashneer Grover Declares
In a surprising turn of events, Ashneer Grover openly stated, “The industry is dying.” These words were in response to a question raised by a member of the conference regarding the state of fantasy sports. His comments offer a unique perspective on the current trajectory of the industry.
Government Actions and Taxes Threaten the Industry’s Viability
Grover went on to explain that the fate of the fantasy sports industry is closely tied to government policies and taxation. He emphasized that the industry’s growth may be stymied if the government continues to discourage fantasy sites and apps while increasing taxes on the sector. According to him, this unfavourable regulatory environment could lead to the industry’s decline or significant contraction.
CrickPe’s Remarkable Rise in the Midst of Challenges
Amidst this backdrop of uncertainty, one shining example stands out: CrickPe, a cricket fantasy sports app. This app has rapidly gained popularity during the IPL frenzy and has emerged as a formidable contender among industry giants like Dream11, Mobile Premier League (MPL), and My11Circle. Astonishingly, it has already garnered over a million downloads, establishing itself as a sensation in the market.
CrickPe: A Thrilling Cricket Fantasy Experience
CrickPe is not just another fantasy sports app; it’s an immersive experience that revolves around the captivating world of cricket. Designed for users aged 18 and above, it offers a chance to step into the shoes of a cricket strategist. Users can participate in contests that put their skills and intuition to the test, with the opportunity to win exciting cash rewards based on the real-life heroics of their favourite players.
How the Industry Is Dying?
The $3-billion Indian online gaming industry caught the eye of the world during the pandemic. But the 28 per cent GST on real-money gaming has brought its dream run to a screeching halt. It all came to nought on July 11, when the GST Council announced the highest tax slab of 28 % on all online real-money gaming.
In conclusion, Ashneer Grover’s candid statements about the future of the fantasy sports industry provide a thought-provoking perspective.