The growing popularity of cricket has led to the fact that many investors are ready to invest billions in the development of the sport. Everything is because the Indian Premier League is gaining popularity far beyond the country’s borders. Now, many advertisers offer teams from this championship good contracts at the level of American basketball or European soccer.
Impact of the IPL on the popularization of cricket
If 10-20 years ago, cricket was a traditional sport for India, it is gaining popularity far beyond the borders of this country. T20 is the match format that has gained the most acceptance among cricket fans. The matches do not last more than three hours, which is convenient, and there is no need to stretch the confrontation between the teams for five days. Thus, Twenty20 has attracted investors worldwide as the game has turned into a commercial project.
The Indian Premier League, which has existed since 2008, has been a major engine of progress. It was here that the T20 format first began to be used. Now, there are 20 championships around the world under this umbrella, which bring record revenues to the organizers.
Research reports by Houlihan Lokey indicate that the total value of the Indian Premier Cricket League reached $16.4 billion by the end of 2024. The rights to broadcast matches sold for $6.02 billion. These are record-breaking figures that are gaining increasing attention from investors.
Bookmakers also make money on the super-popular league as the volume of bets grows yearly. Search statistics and sports-related information sites speak about the scale of the market. During the preparation of the material, our authors studied several sources of information and found here the applications of many well-known bookmakers with bets on the IPL. There can be no doubt that the number of these bookmakers will only grow shortly.
This trend is characteristic not only for India but also for other countries where this sport is popular. Some regions of the African continent can be picked as an example. As it became known, young people in Zimbabwe are increasingly fond of gambling. In many of them, it is expressed in the form of betting on cricket.
Of course, the largest number of such bets are made in India, the home of the IPL. The wealth of citizens of the most populous country in the world is growing, which allows them to bet more and more actively on their favorite sport. The scale of the phenomenon has long been noticed by the authorities. Experts, in turn, talk about the importance of greater regulation of this market.
Because of the popularity of IPL, investors are now buying up stakes in cricket leagues in UAE, England, the USA, and other countries. Globalization is making the sport known far beyond India.
The financial might of the IPL
The title sponsor of the Indian Premier League is Tata Group. A contract has been signed between the league and the company till 2028. According to the contract, the sponsor sends an annual contribution of 58 million dollars. This money goes not only for the championship development but also for supporting youth sports. IPL has about 1.2 billion dollars from broadcasts and sponsorships. Currently, the league ranks 7th in the world in terms of revenue. Regarding the value of broadcast rights, the IPL ($17 million) is second only to the NFL ($37 million).
The league’s management is constantly on the lookout for new partners. Investments in the IPL allow for raising the skill level of players, improving stadiums, and so on. Cricket is developing not only in India. The USA and England also invest a lot of money in various leagues and championships in this sport.