Dream11 arrives on his real money game company, BT sources told BT, while the new gaming bill eliminates the legal paid fantastic sports base.
The promotion and regulation of the Center for the 2025 online playing bill, adopted by Rajya Sabha, impose a total ban on online games based on money, including fantastic sports, poker and rami. Only sports and social games are allowed. Violations can attract up to three years in prison or fines of 1 crore.
In an internal note, the CEO of Dream Sports, Harsh Jain, told employees that there was “no legal journey” to continue the paid competitions of DREAM11 once the law adopted. The company informed full -time and contractual staff on a transition plan, confirmed BT sources.
The ban has sent shock waves in the game sector. While companies are preparing for major financial losses, the imminent threat of large -scale job cuts raises more in -depth concerns.
Dream11 – which returned its base to India earlier this year – would be among the hardest. More than 90% of Dream Sports revenues come from DREAM11 competitions. During the 2010 fiscal year, he declared 9,600 income crores, widely fired by the cricket engagement of the World Cup.
Founded in 2008 by Harsh Jain and Bhavit Sheth, DREAM11 has more than 280 million users and is supported by Tiger Global, ChrysCapital, Multiples and TCV. The company was valued for the last time at $ 8 billion in 2021 and built deep ties with Indian cricket through IPL and Team India sponsorships.
With its basic operation now prohibited, Dream Sports focuses on smaller verticals – Fancocode, Dreamsetgo and Dream Game Studios.
When approached by BT, the company refused to comment. However, he noted that the application remains functional.
