The paid subscriptions will be available under INR 200 monthly pack and INR 1,000 yearly pack
CrickPe Pro users will not have to pay 10% platform fees on winnings and will also be able to ‘share’ their teams and earn 5% extra on such winnings
Launched earlier this year, CrickPe is the brainchild of former BharatPe managing director Ashneer Grover, his wife Madhuri Jain Grover and Aseem Ghavri
Ahead of Asia Cup 2023, Ashneer Grover-led fantasy cricket platform CrickPe has unveiled subscription plans with zero platform fees.
Called CrickPe Pro, the paid plans will be available in two denominations – INR 200 monthly pack and INR 1,000 yearly subscription. Users can simply top up their in-app wallets to avail the paid plans.
As per the app, CrickPe Pro users will not be liable for 10% platform fees on winnings and will get access to the ‘full pot with 0% admin fees’. Typically, real money gaming platforms earn revenue by charging a platform fee from users participating in games or tournaments on their platforms.
Besides, the paid plans will also enable gamers to ‘share’ their teams and earn 5% extra on such winnings. However, it is not clear from the app as to what this offering entails.
Inc42 has reached out to Grover for a comment on the new offerings. The story will be updated with a response as and when it is received.
The launch of the subscription plans comes close on the heels of the beginning of the biennial Asia Cup cricket tournament on August 30. The announcement could likely be a part of the company’s strategy to cash-in on the booming viewership during the tournament.
The subscription plans could also likely be part of CrickPe’s strategy to create an alternate revenue stream. However, questions remain over whether the subscription plans would be enough to offset the revenue loss on account of the 10% platform fees waiver. It could all well depend on how well the product is received by users and economies of scale.
In addition, the plans could also help CrickPe to attract more users and mount an attack against incumbents such as Dream11.
Launched earlier this year, CrickPe is the brainchild of former BharatPe managing director Grover, his wife Madhuri Jain Grover and Aseem Ghavri. The platform debuted on app marketplaces just ahead of the start of the Indian Premier League (IPL) in March this year.
Since then, the app has amassed more than 1 Mn downloads on Google Play Store. It is operated by the parent company Third Unicorn. The startup has so far raised nearly $4 Mn in seed funding led by ZNL Growth Fund.
In simple words, CrickPe allows users to create a virtual team of cricket players and earn cash prizes based on their performance in real life.
The move comes at a time when the homegrown gaming industry has been reeling under the impact of the GST Council’s decision to impose 28% goods and services tax (GST) on the full value of the bets placed on online gaming. The new tax rate will come into effect from October 1.
Following the government’s decision, many gaming startups have undertaken layoffs or temporarily shut operations.
Despite the hiccups, the Indian gaming market continues to offer big opportunities for the startups and companies in the space. As per a report, the homegrown gaming market is projected to balloon to a size of $8.6 Bn by FY27 from a mere $2.6 Bn in FY22.
