It is official! The UAE will play host to the 2021 Indian Premier League season, with matches running from September to October. The decision comes after a virtual meeting earlier this month by the Board of Control for Cricket in India.
As it stands, the games will follow the same format as last season, with all participants staying in a bio-bubble for the entire period. Furthermore, you can catch all the games live from licensed broadcasters.
The increasing number of online fantasy league players
Ever since the COVID-19 pandemic, there has been a steady increase in online fantasy league players. Companies such as Dream11 and My11Circle, are making millions in revenue given their massive number of subscribers. Such is the popularity of virtual tournaments that estimates value online gaming at nearly $1 billion. Moreover, word has it that Dream11 has more than 60% media space in this year’s IPL.
The potential of online gaming has led to other companies offering payments as low as Rs 1. For example, a Bollywood celebrity is currently promoting a fantasy game that can make you a millionaire from a Rs 1 wager. However, your dream of becoming a millionaire will have to wait a little longer. There is still some uncertainty on whether such a promotion meets the legal guidelines of the NCPI.
NCPI vs. online gaming
A recent email from the National Payments Corporation of India (NCPI) says that you can no longer place wagers below INR 50 on the IPL online fantasy league. Unfortunately, the internal email message does not specify the reason as to why the cap. However, it is safe to say NCPI is not happy with the ever-growing number of people playing fantasy cricket during this year’s Indian Premier League season.
United Payments Interface is the payment medium that most participants use to play fantasy cricket. Additionally, the leading companies behind this endeavor are Dream11, MPL, and My11Circle. They are long-term partners of Indian cricket, with most of them spending lots of money to promote their brands during the live tournament. For example, Dream11, title sponsors of last year’s IPL, have associations with most of the league’s top players, including MS Dhoni and Rohit Sharma.
Therefore, the move to block transactions below INR 50 via the United Payments Interface by the NPCI comes as a shock to many. But, there is justification for introducing this move. Below are some of the reasons why NCPI is keen on pushing this initiative.
The online fantasy league is similar to ‘gambling’ and ‘betting’
When asked whether the move was some sort of a crackdown, Dilip Asbe – CEO and Managing Director of NCPI, did not comment on the issue. Furthermore, his non-denial of the matter continues to feed the rumor mill. Despite the continuous promotion of the online fantasy league by industry insiders, there are cases at the Supreme Court asking the government to ban online gaming that involves stakes.
Additionally, states such as Andhra and Telangana all have a total ban on online gaming, with others sure to follow suit in the future. Regardless, celebrities and elite players freely continue to promote the online fantasy league without knowing the repercussions.
To protect the UPI interface
MyCircle11 is one of the companies that allows bets of Rs 1 for their online cricket league. Consequently, the number of people making daily payments through UPI runs in the millions. Given this soaring traffic, the worry is that the system cannot handle this load leading to its crash. Hence, the move to introduce the INR 50 minimum looks like a failsafe to ensure the system’s integrity.
Should the move go through, industry insiders anticipate a massive decrease in the number of players and transactions. However, the total impact of the INR 50 minimum remains unclear.
NCPI wants to leverage its Paytm platform
Introducing an INR 50 minimum could also be viewed as a move by the NCPI to increase transactions through its Paytm interface. Most of the companies that allow the Rs 1 payments use UPI as their primary payment gateway. Consequently, the number of users on the Paytm interface continues to remain low. Introducing the INR 50 minimum will in some way level the playing field and allow Paytm to take advantage of the situation.
What’s in the future for the online fantasy league?
Attending a live cricket match remains a dream for many fans. Furthermore, there is no confirmation on the venue for the 2021 ICC T20 World Cup. India, which is to host the tournament, continues to see seven-day averages of 194,953 new cases of COVID-19.
Consequently, the BCCI has requested an extension to determine whether India can host the games. Therefore, online gaming will continue to thrive as fans await final decisions from the BCCI and NCPI on the minimum wager and tournament guidelines.
