Ashneer Grover shuts down fantasy cricket platform CrickPe, says: Not keen on space given misplaced ...

Ashneer Grover-led fantasy cricket platform CrickPe has shut down operations just two years after its launch, according to an Inc42 report. The platform, which was the first product from Grover’s startup Third Unicorn, was introduced ahead of the 2023 Indian Premier League (IPL) season. However, it has now stopped launching new contests.
A message on the CrickPe app reads, “We’ve had an amazing innings together. While we won’t be rolling out new contests on the app anymore, this is just a timeout.”
Grover told the publication that CrickPe will be shut down by the end of 2024 due to regulatory challenges and taxation issues. He said:
“CrickPe has been halted end 2024 as we are not keen on the space given misplaced connotation of gambling with gaming in India and imposition of 28% GST last year. We had great fun with the space but feel it’s best for incumbents like Dream11 and others and the economics of the business does not have scope for incentivising the cricketers out of the game pot – which was our initial idea.”

A major challenge for CrickPe was the 28% GST levied on online real-money gaming. The new tax regime, implemented on October 1, 2023, replaced the earlier 18% GST on platform fees for skill-based games.
Grover has been a vocal critic of this move. He once posted on X (formerly known as Twitter) that the 28% GST had "murdered the online gaming industry”. The post was later deleted.
While the Supreme Court recently put a temporary hold on GST proceedings against 49 real-money gaming companies, the uncertainty surrounding taxation and regulations appears to have played a role in decision to halt CrickPe.
Despite ceasing new contests, CrickPe still allows users to withdraw their winnings.