Post-IPL 2024: FTD and GGR Boom in India’s iGaming Market

Experts at Blask, a leading iGaming analytical toolkit, have observed significant changes in the Indian iGaming industry following the conclusion of the 2024 Indian Premier League (IPL). Their findings highlight market share shifts and top betting brands’ emergence during the tournament.

Blask’s analytics department evaluated the performance of major Indian iGaming brands during the IPL using Blask AI Deep Learning algorithms to measure First-Time Deposits (FTDs) and Gross Gaming Revenue (GGR). They utilized open-source data from worldwide gambling commissions and employed the inner AI model to detect patterns and predict future FTDs and GGRs.

FTD Growth:

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

GGR Growth:

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

By leveraging AI to analyze historical open-source intelligence, market trends, and brand momentum, these findings offer compelling insights into the evolution of the Indian market landscape during the IPL. The AI-powered projections shed light on the trajectory of key market indicators such as GGR and FTDs and provide a window into the financial dynamics of the Indian market.

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The Blask team highlights the following key market shifts:

• Stake’s meteoric rise from 4th to 1st position, capturing a staggering 47.69% increase in relative market share, surpassing industry giants like Parimatch, Dafabet, 1xBet, and 4Rabet
• The consequent decline in market positions for the other top four brands: Parimatch (-11.21%), Dafabet (-7.3%), 1xBet (-6.03%), and 4Rabet (-2.6%)
• Fairplay replaced Fun88 in the top 10 brands list, with a minimal difference in market share (0.89% and 0.65%, respectively)
• Stake leading MoM growth with an astonishing 362% increase, followed by Parimatch (31.48%), 4Rabet (31.75%), Dafabet (22.67%), and 1xBet (0.21%)

“The IPL 2024 has sparked significant changes in India’s iGaming industry,” said Max Tesla, the CEO of Blask. “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.”

The Indian iGaming market has experienced a remarkable boom, with the IPL 2024 catalyzing significant growth and changes in the competitive landscape. The Blask Index, a key indicator of market engagement, soared during the tournament, peaking at an impressive 2.1 million daily during high-profile matches. This surge in interest and participation highlights the immense potential of the Indian iGaming industry.

The IPL 2024 witnessed a major shift in the market dynamics, with Stake emerging as a dominant force. It captured a substantial increase in market share, overtaking established giants like Parimatch, Dafabet, 1xBet, and 4Rabet. This meteoric rise of Stake significantly altered the market landscape, showcasing the industry’s ever-evolving nature and the opportunities for new players to make their mark.

Moreover, the growth in First-Time Deposits (FTDs) and Gross Gaming Revenue (GGR) during the IPL 2024 was a clear indicator of the market’s expansion. The growth of FTDs during the period amounted to 100% in March compared to February, with an average of 1 million FTDs. In April, the growth continued to reach 1.5 million FTDs.

The GGR metric showed an increase, but not as significant: it went up by 33% on average in March to 120 million USD and 16% in April to 146 million USD. Blask analysts intend to include May data in early June to ensure accuracy and precision.

The IPL 2024 has not only highlighted the excitement of cricket but has also demonstrated the significant growth of the Indian iGaming industry. With the market dynamics increasing and new players like Stake making remarkable progress, the future of iGaming in India appears exceptionally promising. As the industry continues to advance and introduce new innovations, it is evident that the Indian iGaming market is positioned for even greater success in the coming years.

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