Dream11: Revolutionizing Fantasy Sports in India. Dream11, an Indian fantasy sports platform, has taken the nation by storm with its innovative approach to online gaming.
Offering a wide range of sports, including cricket, hockey, football, kabaddi, and more, Dream11 has captured the attention of millions of sports enthusiasts across India.
This article delves into the history, legality, partnerships, financial aspects, and brand ambassadors associated with Dream11, providing a comprehensive overview of this groundbreaking platform.
Table of Contents
Dream11 was co-founded in 2008 by Harsh Jain, the son of Indian businessman Anand Jain, and Bhavit Sheth. Their vision was to create a platform that would allow cricket fans to indulge in fantasy sports.
In 2012, they introduced freemium fantasy sports in India, which quickly gained popularity among sports enthusiasts.
The platform experienced exponential growth, with 1 million registered users in 2014, 2 million in 2016, and a staggering 45 million in 2018.
In April 2019, Dream11 achieved a significant milestone by becoming the first Indian fantasy sports company to attain unicorn status, reaching a valuation of $1 billion.
Steadview Capital, along with investors such as Kalaari Capital, Think Investments, Multiples Equity, and Tencent, played a crucial role in supporting Dream11’s growth.
Additionally, in April 2019, Dream11 launched FanCode, an ad-free multi-sport aggregator platform that provides content, commerce, and community engagement.
Dream11 faced a legal challenge in 2017 when a case was registered against the company in an Indian High Court. However, the court ruled that playing the Dream11 game involves skill, knowledge, and judgment, with the element of skill significantly influencing the game’s outcome.
The ruling provided the necessary legality for the company to operate across the country. It’s worth noting that a few Indian states, including Assam, Odisha, Telangana, and Andhra Pradesh, do not allow fantasy sports due to specific regulations. Despite being considered a “game of skill,” Dream11 operates in a regulatory gray area, according to some experts.
In October 2021, Dream11 suspended its operations in Karnataka after the state banned online gambling and wagering.
However, in February 2022, the Karnataka High Court overturned the ban on online gambling, allowing Dream11 to resume operations in the state.
Dream11 has established strategic partnerships with various leagues and sports organizations. In 2017, the company became the Official Fantasy Partner for the Caribbean Premier League, Indian Super League, and the National Basketball Association (NBA).
Subsequently, Dream11 partnered with the Indian Super League as their official Fantasy Football Partner. The collaboration between Dream11 and the NBA led to the launch of an official fantasy basketball game on the platform.
Expanding its reach, Dream11 announced partnerships with prominent entities such as the International Cricket Council (ICC), Pro Kabaddi League, International Hockey Federation (FIH), Women’s Big Bash League (WBBL), and Big Bash League (BBL). These partnerships allowed Dream11 to introduce new games, including kabaddi and hockey, on its platform.
In October 2019, Dream11 became the title sponsor for the Super Smash domestic Twenty20 competition in New Zealand. The partnership with New Zealand Cricket (NZC) was extended until 2026, solidifying Dream11’s presence in the country’s cricketing landscape.
Dream11 achieved a significant milestone on August 18, 2020, when it secured the title sponsorship rights for the 2020 Indian Premier League (IPL) for ₹222 crore (US$29.96 million). This opportunity arose after Vivo withdrew as the title sponsor for the season.
On June 30, 2023, Dream11 acquired the lead jersey sponsorship rights of the Indian National Cricket Team from July 2023 to March 2026 for ₹358 crore.
Dream11’s financial performance has been impressive, showcasing substantial growth over the years. Here is a glimpse of the company’s revenue and profits/losses (in crores):
- FY 2018: Revenue increased to 224.6; Profits decreased to -65.1
- FY 2019: Revenue increased to 775.4; Profits decreased to -131.6
- FY 2020: Revenue increased to 2,120; Profits increased to 181
- FY 2021: Revenue increased to 2,706; Profits increased to 329
The consistent growth in revenue demonstrates Dream11’s strong position in the fantasy sports industry and its ability to attract a significant user base.
Dream11 has collaborated with prominent figures in the world of sports and entertainment as its brand ambassadors. The company first signed renowned commentator Harsha Bhogle as its brand ambassador during the 2017 IPL.
In 2018, cricketer Mahendra Singh Dhoni joined Dream11 as its brand ambassador and launched the “Dimaag se Dhoni” media campaign during the 2018 Indian Premier League.
Dream11 expanded its brand ambassador portfolio by signing seven cricketers and partnering with seven Indian Premier League franchises as part of its multi-channel marketing campaign in 2019.
The company further broadened its horizons in March 2022 by roping in actors Kartik Aaryan and Samantha Ruth Prabhu as brand ambassadors, marking the first time Dream11 ventured beyond the realm of sports for its endorsements.
In addition to these celebrities, Dream11 has prominent cricketers such as Rohit Sharma, Rishabh Pant, Shikhar Dhawan, Hardik Pandya, Shreyas Iyer, and Jasprit Bumrah as their cricket ambassadors.
Dream11 offers a user-friendly and engaging fantasy gaming platform for multiple sports. Users can create virtual teams comprising real-life players and earn points based on the performance of these players in actual matches.
The platform covers a wide range of sports, including cricket, football, basketball, kabaddi, hockey, volleyball, handball, and baseball.
Dream11 provides both free and paid contests, allowing users to participate according to their preferences. Paid contests require a certain entry fee, and users have the opportunity to win real cash prizes.
To participate in a Dream11 game, users must be at least 18 years old and complete their profile verification using their PAN (Permanent Account Number).
INDvsWI Test Series
Indian Top 5 in Tests Cricket: Team India Ready For INDvsWI Test Series. Dream11 Is The New Sponosor. Virat Kohli’s & Rohit Sharma’s photo-shoot in Test jersey.
Dream11 has revolutionized the fantasy sports landscape in India, offering a diverse range of sports and engaging millions of users across the country. With its strategic partnerships, legal battles, and continuous growth, Dream11 has emerged as a dominant player in the Indian fantasy sports industry.
As the platform continues to evolve, it will undoubtedly shape the future of online gaming in India, captivating sports enthusiasts with its innovative approach.
FAQs (Frequently Asked Questions)
1. Can I play Dream11 from any location in India?
Yes, Dream11 is accessible throughout India, except in states where fantasy sports are prohibited, such as Assam, Odisha, Telangana, and Andhra Pradesh.
2. What is the minimum age requirement to participate in Dream11 contests?
Users must be at least 18 years old to participate in Dream11 contests.
3. How does Dream11 generate revenue?
Dream11 generates revenue through a combination of entry fees from paid contests and sponsorships.
4. Can I win real cash prizes on Dream11?
Yes, users can win real cash prizes by participating in paid contests on Dream11.
5. Is Dream11 only limited to cricket, or does it offer other sports as well?
Dream11 offers a wide range of sports, including cricket, football, basketball, kabaddi, hockey, volleyball, handball, and baseball.
Dream11 Official Website: https://www.dream11.com/