Dream11 Founder and CEO, Harsh Jain, revealed in a recent interview that 99% of Dream11’s 260 million users never won or lost more than ₹10,000 in their lifetime on the platform. He explained that the average ticket size was just about ₹51–52, making it a low-risk activity for most users.
Jain emphasized that Dream11 was always a sports fan engagement tool, comparing it to “popcorn for your movie.” The platform’s contests were based on real matches, which limited repeat play and reduced addictive behavior.
The Shock of the Ban
On August 21, 2025, India’s Parliament passed the Promotion and Regulation of Online Gaming Act, 2025—a sweeping law that bans all real-money online games, including fantasy sports, poker, and rummy.
The bill was passed very quickly—within days through both Houses—and received Presidential assent almost immediately. Industry players were caught off guard, and the ban came as a complete shock, according to Harsh Jain.
Massive Revenue Loss for Dream11
As a result of the ban, Dream11 lost about 95% of its revenue, and profits dropped to zero overnight. Jain called it an “unexpected knockout punch,” but said he remains “a delusional optimist.” He also mentioned that the company still has a two-year cash runway to strategize, adapt, and retain talent.
Dream11 3.0: The Next Phase
Instead of fighting the law, Dream11 has decided to comply immediately and not challenge it in court.
Harsh Jain introduced the concept of “Dream11 3.0”—a new phase focused on non-real money gaming offerings. The company plans to grow ventures like DreamCricket, DreamMoney, DreamSetGo, and FanCode. The goal is to move toward free-to-play models, ads and sponsorship revenue, and international expansion.
Watch exclusive interview of Harsh Jain with Moneycontro:
Sponsorship Fallout
The new law also prohibits promotions, ads, and sponsorships by real-money gaming platforms. As a result, Dream11 is in talks with BCCI to exit a ₹358 crore jersey sponsorship deal for Team India.
This fallout could cost the Board of Control for Cricket in India (BCCI) a huge amount in sponsorship revenue, especially with the Asia Cup approaching.
Check out: BCCI Terminates Dream11 Sponsorship after Online Gaming Bill 2025
Industry-Wide Impact
The ban has sent shockwaves across advertising, fantasy sports, and investments. Analysts estimate India’s ad industry could lose over ₹10,000 crore every year due to reduced spending by real-money gaming platforms.
Private equity and venture capital investors—like Tiger Global and Peak XV—are also facing uncertainty. The fantasy gaming sector was expected to grow to $3.6 billion by 2029, with Dream11 valued at nearly $8 billion before the ban.
What Lies Ahead
Dream11 has paused all paid contests and shifted its focus completely to free-to-play online games, assuring users that wallet balances remain safe and withdrawals are possible, though new deposits are no longer allowed.
Check out: Dream11 Parent Launches “Dream Money,” Allowing Users to Invest in Gold & FD
Harsh Jain said that a regulatory framework, like the one in Tamil Nadu, would have been better than a blanket ban. Tamil Nadu’s rules—such as KYC checks, player limits, and time restrictions—helped address concerns while still preserving the industry’s tax contributions and reducing black-market risks
Check out: Do We Ban Alcohol Because Some Become Alcoholics? – Anupam Mittal Slams Ban on Real-Money Gaming
