CrickPe is a new fantasy cricket platform launched by Ashneer Grover, the co-founder and ousted CEO of fintech startup BharatPe.
CrickPe allows users to create virtual teams of real cricket players and enter paid contests to earn cash prizes based on their performance in real games. Users can also participate in free contests and win rewards.
In this post I’ve Covered :
📍What makes CrickPe different?
📍Who is behind CrickPe?
📍When was CrickPe launched?
📍How does CrickPe work?
📍What are the Challenges faced by CrickPe?
⭐️ What makes CrickPe different?
CrickPe claims to be the only fantasy game that pays cricketers for their performance.
According to its website, CrickPe rewards a percentage of every game played to real cricketers, based on their actual performance in the match, in proportion to their fantasy points earned.
Users can also send rewards of up to Rs 1 lakh in a financial year to a cricketer of their choice, but it is up to the cricketer to accept or reject the reward.
⭐️ Who is behind CrickPe?
CrickPe is run by Third Unicorn Pvt Ltd, a company founded by Ashneer Grover and his wife Madhuri Jain in 2022.
Grover had previously helped scale up two companies – Blinkit (formerly Grofers) and BharatPe – and turned them into unicorns, or startups valued at or over $1 billion.
Madhuri is an entrepreneur who founded an online fashion platform called StyleCracker.
The third co-founder of Third Unicorn is Aseem Ghavri, who had founded Code Brew Labs, an enterprise application development company that had provided tech support to BharatPe in its early days.
⭐️ When was CrickPe launched?
CrickPe was launched on March 23, 2023, just a week ahead of the Indian Premier League (IPL) tournament commencing March 31 onwards.
Grover announced the launch of the app on Twitter, calling it “the biggest revolution in cricket since IPL”.
⭐️ How does CrickPe work?
Users can select a match from the upcoming fixtures and create a virtual team of 11 players from both sides within a budget of 100 credits.
Users earn points based on how well their team players perform in the live match.
Users can also make real-time decisions such as changing their captain or vice-captain during the match.
The user with the highest score at the end of the match wins the contest and gets the prize money credited to their account.
⭐️ What are the Challenges faced by CrickPe?
CrickPe operates in a highly competitive and regulated market where fantasy sports are often seen as a form of gambling or betting.
CrickPe also faces competition from established players who have roped in celebrities such as Sourav Ganguly, MS Dhoni, Virat Kohli etc as their brand ambassadors or investors.