BharatPe cofounder Ashneer Grover recently launched CrickPe new fantasy cricket app just before IPL 2023. The app will compete against rivals such as Dream11, Mobile Premiere League(MPL), My 11 Circle, and Games24/7.
Third Unicorn Pvt Ltd, founded by Ashneer Grover, has raised $4 million in seed funding from more than two dozen angel investors, including Anmol Singh Jaggi, Anirudh Kedia, and Vishal Kedia. Previously, Grover was associated with BharatPe and Grofers, both of which are unicorns. The app is targeting the IPL tournament for its launch and is allowing users to participate in contests for IPL matches starting from March 31, 2023.
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About CrickPe New Fantasy Cricket App?
Crickpe is an app to play cricket online. Users can create a virtual team of the best in-form real players, join the contests, and earn points per their actual game performance.
Higher points depending on how well your team players perform in a live match. The person has to make the real-time decision and invest their intelligence and time throughout the game.
How to play on the cricket app?
Sign Up with your mobile number and get yourself registered on Crickpe App. Follow the guidelines to complete your profile. Once your profile is completed, pick the match, use your skills and knowledge to create your ideal team using your skills, participate in contests.
How do you Calculate point system in CrickPe?
The points calculation depends on your team players’ performance in an actual match. To get an idea about the points system go to Point System.
What Is Ashneer Grover’s CrickPe?
The CrickPe website indicates the existence of an app on Android and iOS, as well as some of the app’s features.
Based on currently available information on CrickPe’s website, the game brings features such as competing with real cricketers as well as allowing users to reward cricketers directly for their performance on the field.
Besides this, users can also compete with their friends on CrickPe, just as on other fantasy sports apps.
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Features of CrickPe
CrickPe is a newly launched cricket-focused fantasy sports app that enables users above 18 years of age to create virtual cricket teams and participate in paid contests to win cash prizes based on the real-life performance of players.
Users can also create private groups and compete in contests to earn rewards. The app will charge a 10% platform fee for any public or private contest. It will offer free contests for users to improve their skills.
The platform has a unique feature that allows users to send cash rewards to their favourite cricketers, with amounts ranging from Rs 100 – Rs 100,000 per cricketer per financial year.
CrickPe will charge a 10% fee for transactions of cash rewards accepted by cricketers starting from June 2023. However, the app is not acting as an agent of cricketers and is solely offering the feature as a user agent.
Ashneer Grover Background Deatails
Ashneer Grover is an Indian entrepreneur and co-founder of several successful startups. He was born in 1982 in Delhi, India, and completed his MBA from the Indian School of Business in Hyderabad.
Grover started his career in 2005 as a management consultant with A.T. Kearney. Later, he worked as the Chief Financial Officer (CFO) for companies like GreenDust and Bharti AXA Life Insurance.
In 2018, Grover co-founded BharatPe, a financial technology company that provides payment solutions to merchants in India.
The company has since become one of the fastest-growing fintech startups in India and achieved unicorn status in 2020, valued at over $1 billion.
Grover was also associated with Grofers, an Indian online grocery delivery service, as its CFO before co-founding BharatPe.
In 2022, Grover launched his third venture, Third Unicorn Pvt Ltd, which has developed a cricket-focused fantasy sports app called CrickPe.
CrickPe and Regulatory Concerns of BCCI and ICC
Ashneer Grover’s new fantasy app CrickPe could run into regulatory concerns because of its new proposition to reward cricketers from the fantasy game’s player pot.
According to Jay Sayta, Technology & Gaming Lawyer, “Giving gifts to cricketers for performance or non-performance in a fantasy league game could be potentially perceived as violation of BCCI & ICC’s anti-corruption code.”
Further, as per the anti-corruption code any gifts above ₹50,000 received by any cricketer have to be immediately brought to the notice of BCCI’s Anti-Corruption Unit (ACU).
“Clarity is awaited from BCCI’s ACU on whether they would perceive gifts received from fantasy sports platform users to be corrupt practices under the existing norms and rules set by Indian and international cricketing bodies,” he added. Adding to this, Jaya Chahar, Founder & CEO, TFG said, “There can be definite regulatory concerns around this proposition. Collecting money on behalf of cricketers may not work considering set guidelines. Most cricketers have already signed up with some of the other fantasy gaming apps as ambassadors and accepting money generated through a competing fantasy gaming app may be perceived as a conflict of interest.”
Announcing the CrickPe app in a Linkedin post, Grover said, “Cricketers get paid for performance—not ads. 10 per cent pot split in ratio of points earned by each of the 22 players. Every match.” This means CrickPe winners will get the 80 per cent of the collected money, while CrickPe will take 10 per cent platform fee and cricketers get the rest 10 per cent of the pot.
It does not only cover IPL, but other leagues, such as Asia Cup 2023 and ICC World Cup 2023. So far, the company is only planning to cover cricket events. Players from Andhra Pradesh, Assam, Orissa, Telangana, Sikkim, and Nagaland are not eligible to play cash contests.
Record Downloads of CrickPe
BharatPe’s former Managing Director Ashneer Grover’s third venture . And now the ‘Dogalapan’ author Ashneer Grover has revealed that the CrickPe app has witnessed about 10 lakh downloads in less than 20 days.
Cofounders of CrickPe
Grover started working on CrickPe in 2022 along with wife Madhuri Jain Grover and Aseem Ghavri who are also the co-founders of the company.