Exclusive: Times Internet Enters Fantasy Gaming Space With Launch Of Cricbuzz11

Times Internet-owned popular cricket news and information platform Cricbuzz has entered the fantasy gaming space with the launch of a new platform, Cricbuzz11. 

The launch comes amid the ongoing Champions Trophy and Women’s Premier League (WPL) and ahead of the start of the marquee cricket tournament, Indian Premier League (IPL).

While a separate Cricbuzz11 application in the form of an APK file is available for download for Android users, the fantasy platform is integrated within the core application for iOS users. 

Times Internet declined to comment on Inc42’s queries on the launch of the platform.

Currently, users can participate in contests for Champions Trophy and the WPL on Cricbuzz11, which competes with the likes of Dream11, MPL, My11Circle, among others. 

Interestingly, the development comes at a time when Ashneer Grover-led CrickPe has halted its operations. Last week, Inc42 exclusively reported that Grover’s startup Third Unicorn, the parent of CrickPe, halted the operations of the fantasy gaming platform due to the new 28% GST rate on full face value for online real-money gaming. 

It is pertinent to mention that the GST Council, in 2023, announced its decision to levy a 28% GST on full face value for real-money gaming. Previously, a lower 18% GST was levied on the platform fee for skill-based games.

The move caused a furore and was opposed by the gaming industry, but the new GST rate came into effect on October 1, 2023. 

Grover also cited “misplaced connotation of gambling with gaming in India” as one of the reasons for halting CrickPe. In a recent interview with Inc42, Games 24X7 cofounder Trivikraman Thampy also rued the stigma associated with real-money gaming in India.

Besides, online gaming companies have been saddled with GST notices worth over INR 1 Lakh Cr. In some respite to these companies, the Supreme Court, last month, put a temporary halt on GST proceedings against 49 real-money gaming companies. 

Multiple gaming companies, including Gameskraft, Dream11, Games 24×7, and Head Digital Works, had moved the SC against the retrospective demand notices issued to them, seeking taxes on the full face value of bets placed through their gaming platforms.