Indian Premier League or IPL league is one of the first professional leagues for cricket in India. Both the round-robin and knockout stage can be observed with this league. Teams are given names based on the principal cities of India.
Due to launch of IPL, new form of entertainment has been introduced. Craze of IPL has started since India has won the T20 World Cup in 2007.
Idea of a professional league is generated from the mind of BCCI or Board of Control for Cricket in India. Cricket is considered as a religion in India. Therefore, lot of fan following can be observed around the game. Therefore, popularity of the league is not doubted in any given time. Matches are played in T20 format. Due to this reason, result is obtained in a limited amount of time. People can watch the game after office and enjoy entire format during evening.
The format of English Premier League in addition to National Basketball League has influenced the IPL in a big way. However, the purchasing system of the players has been taken from the American style. Through bids, it is possible to obtain a player. Similar method is utilized for acquiring franchise as well. And similar to both of those leagues, betting on matches is quite prevalent in this day and age at online bookmakers like bet365. For more insight to how it all works, refer to this BET365 REVIEW site.
IPL has started from the year 2008. The auction has been executed for the first time on 24th January, 2008. Base price for each franchise has been decided at $400 million. However, auction has reached up to $ 723.59 million in the process.
Matches are scheduled during the month of April and May. League matches are generally arranged with a home and away format. Each team plays with other team in the league for minimum two times. In the knock out stage, eliminators are seen. First team from the league stage gets more benefit than other team in the eliminator. If they lose in the first semi final then they can get another change to reach to the finals.
Title sponsor for the league has changed over the year. In the beginning, DLF has been title sponsor of the IPL. Pepsi has taken the position after few years. Title sponsor for the 2016 IPL has been Vivo Electronics. The game can be considered as a big boast for the Indian Economy as it has contributed 11.5 billion to the GDP in 2015.
In the inaugural IPL on 2008, eight teams have participated. They are Kolkata Knight Riders, Mumbai Indians, Delhi Daredevils, Chennai Super Kings, Deccan Challengers, Rajasthan Royals, Royal Challengers Bangalore and King XI Punjab. Kolkata Knight Riders, Chennai Super Kings and Mumbai Indian have won the IPL twice. However, Deccan Challengers and Rajasthan Royals have also won once.
Teams have changed over the years as well. Pune Warriors, Kochi Tuskers and Deccan Chargers have become defunct. However, Deccan is still present in the IPL in the form of Sunrisers Hyderabad. Two new teams have been added to the IPL 9 due to suspension of Chennai Super Kings and Rajasthan Royals. Name of these two new teams are Rising Pune Super Giants and Gujarat Lions.