Fantasy sports activities large Dream11 has reportedly misplaced its unicorn standing following the central authorities’s crackdown on actual cash gaming (RMG) platforms. The event comes after the passage of the Promotion & Regulation of On-line Gaming Invoice 2025, which bans all types of on-line cash video games throughout India.
In response to ‘ASK Non-public Wealth Hurun India Unicornz and Future Unicorn Report 2025’ report, launched on Thursday, 4 main RMG startups together with Dream11, Gameskraft, Cell Premier League (MPL), and Games24x7 are now not a part of the unicorn membership.
As per a overseas media report, Dream11, final reported to be valued at Rs 8 billion, boasted 260 million customers earlier than the ban got here into pressure.
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Additionally Learn: ‘See You in Second Innings’: Dream11 switches from pay-to-play to free-to-play, no extra paid contests on platform
From Unicorn to Exit: The large shake-up
The regulation not solely prohibits money-based contests but additionally bars ads and monetary establishments from facilitating associated transactions. This has hit firms like Dream11 exhausting, forcing them to pivot from their pay-to-play mannequin to a free-to-play format.
Final month, Dream11 introduced that platform has discontinued all paid contests and shifted to a free-to-play social gaming mannequin. “This morning, we stopped all paid contests on Dream11 and pivoted fully to a free-to-play on-line social recreation,” the corporate had introduced in August, quickly after the invoice acquired President Droupadi Murmu’s assent.
The regulation bans money-based on-line gaming and prescribes penalties of as much as three years’ imprisonment and fines of as much as Rs 1 crore, whereas formally recognising e-sports and on-line social video games.
Dream11, based 18 years in the past, stated it has at all times complied with the regulation. “Whereas we consider that progressive rules would have been the appropriate method ahead, we’ll respect the regulation and can absolutely adjust to ‘The Promotion & Regulation of On-line Gaming Legislation, 2025’,” the corporate added.
Additionally Learn: Dream11 exits as Workforce India sponsor, BCCI opens bidding for brand new title associate — Right here’s who can apply
BCCI ends affiliation
The BCCI has already moved on, issuing a recent Invitation for Expression of Curiosity (IEOI) to accumulate new title sponsorship rights for Workforce India after parting methods with Dream11 earlier this month.
Finish of pay-to-play period
Dream11 grew to become India’s first gaming startup to enter the unicorn membership in April 2019 after a funding spherical led by Steadview Capital valued the corporate at over $1 billion. Based in 2012 by Harsh Jain and Bhavit Sheth, the platform rapidly grew standard by letting customers play fantasy video games throughout cricket, soccer, kabaddi, and even the NBA.
However the story has taken a pointy flip. With a brand new regulation dismantling the pay-to-play mannequin that fuelled most of its revenues, Dream11’s meteoric rise has hit a useless finish. For an organization that after inked a three-year sponsorship cope with the BCCI to seem on Workforce India’s jerseys, the regulatory shake-up alerts a steep and sudden fall.
