Mumbai: The fantasy sports industry is relying on the ICC Champions Trophy and the Indian Premier League (IPL) to drive user growth this year, following the impact of the 28% goods and services tax (GST) levy on the full contest entry amount over the past 1.5 years. Fantasy sports platforms (FSPs) such as Dream11, the front-of-the-jersey sponsor for the Indian cricket team, and My11Circle, an official sponsor of the IPL, have planned significant marketing investments for key cricketing events.According to sources, both Dream11 and My11Circle are expected to finalise sponsorship agreements with JioStar for the IPL. Additionally, Dream11 is one of the sponsors with the broadcaster for the ICC Champions Trophy. They also hold jersey sponsorship deals with multiple IPL teams.118366895Dream11 chief marketing officer Vikrant Mudaliar highlighted the platform's consistent growth, stating that with 235 million users, it has added approximately 70-80 million users over the last two years. We have good reasons to believe that there should be a healthy growth in terms of new users, it will be in the tens of millions, but what should be the exact number that we should try and target is something that we're still working on, he said. Saroj Panigrahi, COO of Games24x7, emphasised the significance of My11Circle's five-year partnership as an IPL associate partner, stating that it strengthens the brand's connection with cricket fans. Our 360-degree marketing strategy-encompassing strategic partnerships both on and off field, including TV, digital, and beyond-is designed to amplify our brand and enhance user engagement throughout the IPL season. We prioritise strategic investments that drive meaningful engagement with our users, he said. Regarding the impact of GST on FSPs, Mudaliar noted the challenge of assessing its effect on user behaviour. However, he emphasised that larger platforms like Dream11 have made efforts to alleviate the burden on users. It's focussing more on business and making sure that we deliver a great product experience to our users is what we have sort of focused on, he added, stressing that sponsorships and advertising in live cricket remain a key part of their strategy.In the previous IPL season, My11Circle experienced substantial growth, witnessing over a 50% increase in teams created within the first two weeks and a similar rise in mega prize winners. This IPL, we anticipate building on that momentum, further strengthening My11Circle's position in the fantasy sports arena, Panigrahi added. According to reports, Games24x7, which operates RummyCircle and My11Circle, saw its advertisement and business promotion expenses increase by 61.7% to ₹1,421 crore in FY23.