How Dream11 Is Reinventing Itself After India’s Real-Money Gaming Ban

Once India’s largest fantasy sports platform, Dream11 faced a major setback after the government introduced new online gaming regulations banning real-money gaming formats. The move prohibited paid fantasy contests, entry fees, and cash prizes—cutting off nearly 90–95% of Dream11’s revenue overnight.

The regulatory clampdown forced several popular gaming platforms, including Dream11, PokerBaazi, and Mobile Premier League, to suspend their real-money operations. Authorities defended the ban by highlighting the financial and psychological risks associated with such platforms. Soon after, the Board of Control for Cricket in India (BCCI) also ended its long-standing partnership with Dream11, announcing it would no longer associate with real-money gaming companies. Dream11 was later replaced by Apollo Tyres as the Indian cricket team’s lead sponsor.

Despite these challenges, Dream11 did not retreat. Instead, under its parent company Dream Sports, it began reshaping itself into a broader sports-focused ecosystem. The group now includes FanCode, a sports streaming platform with rights to hundreds of leagues; DreamSetGo, which offers premium sports travel and live-event experiences; and Dream Capital, an investment arm backing startups in sports, fitness, and gaming.

Dream11’s Reinvention Strategy

Rather than focusing solely on fantasy gaming, Dream11 has shifted toward fan engagement and content-driven experiences. Towards the end of 2025, the company launched a redesigned app tailored to India’s growing watch-party culture.

With millions of fans watching matches while chatting, reacting, and sharing opinions online, Dream11 repositioned itself as a second-screen platform. The new app no longer revolves around team selection or monetary winnings. Instead, users can join creator-led watch rooms, engage in live chats, react in real time, and participate in free-to-play polls, predictions, and trivia—all without cash involvement.

According to Harsh Jain, co-founder and CEO of Dream11, regulations may have changed the business model, but they have not altered fan behaviour. With over 450 million online video viewers in India and massive digital engagement during major sporting events, he believes fans still want interactive, shared viewing experiences.

Dream11’s future revenue will now largely depend on advertising, brand partnerships, and premium fan features, rather than entry fees. Even if only a portion of its earlier user base returns, the platform expects to remain attractive to advertisers during major tournaments.

That said, the transition is not without risks. Advertising-driven models can be volatile, and Dream11 now competes for attention with established platforms like YouTube, Instagram, and X, where sports conversations already thrive. Whether Dream11 can successfully reclaim its influence in this new avatar remains to be seen.