Dream11
India's gaming fans eye illegal sites after gambling ban
India’s ban on online gambling has shut down a billion-dollar industry, ending fantasy sports cash games and sponsorships like Dream11’s $43 million cricket deal. The law, aimed at curbing addiction, fraud, and money laundering, carries up to five years’ jail.
Dream11 eyes advertising revenue with 10 million daily active users after RMG ban
The fantasy sports platform, part of Dream Sports, with over 250 million registered users, moved to a free-to-play model following the ban on real money gaming in India. The move seeks to help brands connect better with Dream11’s largely young user base, nearly 70% of whom are between 18 and 35 years old. Early advertisers include Swiggy, online astrology platform Astrotalk, and Tata’s ecommerce venture Tata Neu.
Apollo Tyres to sponsor Indian cricket team's jersey following Dream11's exit
Apollo Tyres has replaced Dream11 as the lead sponsor of Team India, marking their first foray into Indian cricket with a two-and-a-half-year deal. The agreement, valued higher than Dream11's previous contract, will see the Apollo Tyres logo on the jerseys of both the men's and women's national teams across all formats.
Team India jersey deal not overpaid as it carries a premium: Vice Chairman Neeraj Kanwar
Apollo Tyres secures the Indian cricket team jersey sponsorship for ₹579 crore. The company believes the investment is justified despite a higher bid than Dream11. Neeraj Kanwar dismisses concerns about a 'jersey curse'. Apollo aims to boost sales and expand its reach through this partnership. The company plans activations and will use Sachin Tendulkar to promote the brand.
India vs Pakistan Asia Cup 2025: Predicted playing 11, match timing, where to watch, and more
IND vs PAK Asia Cup 2025 Playing 11 Today Match: India faces Pakistan in a crucial Asia Cup 2025 Super 4 match, with Suryakumar Yadav leading the team. Spinners Kuldeep Yadav, Axar Patel, and Varun Chakravarthy are key on Dubai's slow pitch. Pakistan's batting lineup looks fragile, relying heavily on Shaheen Afridi and Fakhar Zaman. The match is scheduled for September 21st.
Apollo Tyres wins Team India jersey sponsorship rights with ₹579 crore bid
Apollo Tyres has emerged as the front-of-jersey sponsor for the Indian cricket team, securing the rights with a ₹579 crore bid, surpassing Canva and JK Cement. The sponsorship, spanning from September 2025 to March 2028, encompasses approximately 140 matches across various tournaments. This deal follows Dream11's exit due to regulatory changes, marking a new chapter for the high-profile sponsorship slot.
WPP & ITW in fray for front-of-jersey cricket sponsorship for national cricket team
WPP Media and ITW Universe are among those vying for the Indian cricket team's jersey sponsorship. A cement manufacturer and a tech firm also bought tender documents. The sponsorship runs from September 2025 to March 2028. The deal could fetch ₹452 crore. The BCCI will announce the new sponsor soon. Several categories are restricted from bidding.
BCCI following government stance on sporting ties with Pakistan: Arun Dhumal
IPL chairman Arun Dhumal affirmed the BCCI's adherence to the government's policy of restricting bilateral cricket ties with Pakistan amidst ongoing tensions. He also addressed the search for a new sponsor following Dream11's exit and anticipated clarity on the next BCCI president soon.
India vs Pakistan Asia Cup 2025 Playing XI: Will Suryakumar Yadav shake things up against Salman Agha’s team?
IND vs PAK Asia Cup 2025 Playing 11 Today Match: India and Pakistan are set to clash in the Asia Cup 2025 at the Dubai International Stadium, following their initial victories. India, led by Suryakumar Yadav, boasts experienced players, while Pakistan, captained by Salman Agha, introduces new faces in the absence of key players. Both teams are expected to field spin-heavy lineups, marking a strategic shift for Pakistan.
BCCI's Devajit Saikia opens up on parting ways with Dream 11 as Jersey sponsors
The Board of Control for Cricket in India ended its deal with Dream11. Dream11 was the Indian cricket team's jersey sponsor. The Online Gaming Bill led to this decision. The bill aims to regulate online gaming. Devajit Saikia of BCCI spoke about the contract termination. BCCI plans to find a new sponsor.
Dream11, three other startups off unicorn list after online gaming law: Report
The other startups who are off the unicorn list are Gameskraft, Games24x7 and Mobile Premier League. Besides, the 'ASK Private Wealth Hurun India Unicorn and Future Unicorn Report 2025 said the valuations of popular Zupee and Winzo Games, which were not unicorns, have also been impacted because of the law.
Stocks in news: Apollo Tyres, Akzo Nobel, Dr Reddy's, Mahindra Lifespace, Coal India
Indian markets saw gains, with Apollo Tyres becoming the Indian cricket team's jersey sponsor. JSW Paints will acquire a stake in Akzo Nobel India, while Dr. Reddy's launched a new molecule for gastrointestinal issues. Mahindra Lifespace is set to redevelop housing societies, and Coal India has been named the preferred bidder for a rare earth element exploration block.
IPL chairman Dhumal speaks on Ind-Pak Asia Cup clash, finding new lead sponsor for team India
Arun Dhumal shares updates on the search for Team India's new sponsor. The process has begun, and a decision is expected soon. India will play Pakistan only in ACC/ICC events, following government policy. Visa rules are easing for international sports personnel. The BCCI's AGM is on September 28, with elections for top posts.
Asia Cup 2025: Team India's new sponsor-less jersey revealed
Team India is preparing for the Asia Cup 2025 in the UAE, commencing September 9. Shivam Dube unveiled the new sponsor-less jersey after BCCI's contract termination with Dream11 due to the Online Gaming Bill. The board has initiated the search for a new lead sponsor, with applications open until September 12 and bids due by September 16.
How real money gaming addiction dragged thousands of people into debt crisis
The Central government’s recent ban on RMGs seeks to slam shut a digital Pandora’s box, but for thousands of debt-ridden families, the damage is done. Behind the colourful interfaces, dopamine-triggering sound effects, and promises of easy money lies a carefully engineered system designed to keep players betting until they lose all.
AI rush prompts investors to increase focus
Among these VC firms that have come up in the last two years are Boundless Ventures, founded by former Kae Capital investor Natasha Malpani, SenseAI Ventures, started by former senior executive at American financial technology company FIS, and Wyser, set up by two former senior tech executives, Satyakam Mohanty and Supria Dhanda.
Dream11, BCCI end jersey sponsorship after online gaming ban
The BCCI has confirmed the conclusion of its ₹358-crore jersey sponsorship agreement with Dream11. This decision follows the enactment of the Promotion and Regulation of Online Gaming Bill, 2025, which led Dream11 to discontinue its real money gaming activities. BCCI Secretary Devachit Saikia stated that the board will refrain from associating with similar organizations in the future.
BCCI increases Indian team's jersey sponsorship rates
Sponsoring the Indian cricket team will cost more. The Board of Control for Cricket in India has increased match fees. This follows Dream11's departure due to the Online Gaming Act, 2025. The new rates apply to ICC and ACC events. The board expects to earn over Rs 400 crore. Bids are invited, excluding real money gaming and crypto companies.
Ban-hit real money gaming companies fire 2,000 setting off a scramble for jobs
Nearly 2,000 employees at real money gaming (RMG) firms including MPL, Games24x7, Zupee, PokerBaazi, and Head Digital have lost jobs after India’s blanket ban on the sector. Gameskraft may cut most of its 700 staff. Experts warn 5,000–6,000 jobs could be hit, with senior executives also exiting as firms halt or pivot operations.
Kavin Bharti Mittal’s Hike to shut operations amid govt’s real money gaming ban
Hike, the 13-year-old startup founded by Kavin Bharti Mittal, is shutting down following the Indian government's ban on real money gaming. Despite a promising start for its US business, scaling globally after the ban would require a significant reset.
Layoffs shake gaming startups; Ecomm logistics' festive squeeze
Happy Tuesday! The ban on real-money gaming has left over 2,000 jobless in the industry. This and more in today's ETtech Morning Dispatch.
Games24X7 to lay off 70% employees as real money gaming ban pinches
Games24x7 is reportedly laying off around 70% of its workforce, potentially impacting 500 employees, following the government's ban on online money games. The Promotion and Regulation of Online Gaming Act, 2025, prohibits such games, leading companies to shut down services. The government aims to curb addiction and financial losses associated with these platforms.
H-1B reality hits home; Games24x7 layoffs
Happy Thursday! The once-popular H-1B visas are now going out of fashion. This and more in today's ETtech Morning Dispatch.
BCCI looks for new jersey sponsor to take guard at the crease
The BCCI seeks a new lead sponsor for the national cricket team after Dream11's exit due to the government's ban on money-based gaming. With a soft advertising market, the board has invited expressions of interest, setting a high eligibility bar and excluding firms in betting, crypto, and certain other sectors.
BCCI sets bid floor price for Team Lead rights
The Board of Control for Cricket in India has announced the reserve prices for the National Team Lead Sponsor rights. The price is ₹3.5 crore per match for bilateral and Asian Cricket Council games. For ICC events, the price is ₹1.5 crore per match. The sponsorship cycle will run from September 30, 2025, to March 31, 2028.
Fantasy sports' exit to slow Indian cricket's run rate
India's cricket economy anticipates a significant setback. A ban on money-based online games may cause a ₹7,000 crore loss. Broadcasters and rights holders who relied on fantasy sports advertising will face challenges. Sponsorship deals are already affected. The Board of Control for Cricket in India seeks a new sponsor for the Asia Cup.
'Deposit krke ready rho. Jackpot karenge': How online gamblers are dodging India’s real money gaming ban
By early September, a Telegram group with over four lakh members was actively promoting Lucky Jet, a high-speed ‘crash game’ where players wager on a multiplier that can collapse to zero anytime, forcing them to decide when to cash out. Despite being banned, such games thrive on offshore platforms and social media promotions.
Real-money gaming apps see sharp decline in downloads, begin layoffs
The Online Gaming Bill, 2025 triggered a collapse in real-money gaming apps, with downloads plunging 60–95% for MPL, Winzo, and Zupee. Dream11 bucked the trend, doubling installs despite the ban. While most players accepted the law, A23 has legally challenged it.
Dream11 won’t fight RMG ban; Tata Digital’s next CEO
CEO Harsh Jain said Dream11 will not challenge the ban on real money gaming that wiped 95% of its revenue. This and more in today’s ETtech Top 5.
Dream 11 out, BCCI hunts for next big hitter
The Board of Control for Cricket in India aims to secure ₹452 crore via front-of-jersey sponsorship. This follows Dream 11's exit due to government regulations. The sponsorship covers 140 matches from 2025-28. BCCI seeks ₹3.5 crore per bilateral match and ₹1.5 crore for ICC/ACC events. Despite limited time before the Asia Cup, strong sponsor interest is anticipated.
MPL to slash local workforce as real-money gaming ban wipes out India biz
As a group, India accounted for 50% of Mobile Premier League (MPL) parent M-League's revenue and this change would mean that we will no longer be making any money from India in the near future, the CEO told employees over email.
India begin Asia Cup preparations with nets in Dubai
Defending champions India geared up for the Asia Cup with a rigorous practice session in Dubai, marking their first team training since the England Test series. Key players like Suryakumar Yadav, Shubman Gill, and Jasprit Bumrah participated, with Bumrah's return to T20Is keenly observed after a break.
After Dream11 exit, BCCI opens bids for national team lead sponsor; bars crypto, gaming firms
The Board of Control for Cricket in India invites bids for the Indian national team's lead sponsor. Interested companies can purchase the IEOI document for a fee. The last date to buy the document is September 12, 2025. Bidders must meet specific financial and ethical criteria. Certain categories like gaming and alcohol are restricted.
Real money gaming ban leaves 2,000+ workers searching for new jobs
Following the recent ban on online money games in India, over 2,000 gaming professionals are seeking new opportunities. Real money gaming companies are pivoting and diversifying, creating uncertainty among employees, especially in non-tech roles like digital content and marketing. Tech professionals, however, remain in high demand as companies explore new business models.
Gaming app MPL to sack 60% of India staff after real-money gaming ban, source says
Prime Minister Narendra Modi's government this month banned online paid games, citing financial and addiction risks especially among youth, leading to a shutdown of many gaming apps offering paid fantasy cricket, rummy and poker games.
Dream Sports valuation to plummet; has cash runway of few years: CEO Harsh Jain on real-money gaming ban
However, Jain is confident of the investors backing him. The company’s cash reserves provide it with a few years of runway, he added. Dream Sports, the parent of fantasy sports app Dream11, was last valued at $8 billion during its 2021 funding round, when it raised $840 million from Tiger Global, Alpha Wave Global, DST Global, and TPG.
The ET Startup Awards 2025: elite jury to pick winners on August 28
Happy Tuesday! The ETtech team has been neck-deep preparing for the past few months to bring you the 11th edition of The Economic Times Startup Awards (ETSA). Today, we are unveiling the elite jury and nominees for two more categories — Woman Ahead and Social Enterprise.
Stop them at the gate! India has a new battle against the betting traps
An Indian parliamentary committee is pushing for stricter digital verification of offshore betting advertisers, citing a surge in fraudulent promotions targeting Indian users. This comes after a ban on domestic real money gaming (RMG) crippled local platforms, inadvertently opening the door for foreign sites like Parimatch and 1XBet.
Crypto futures overtake spot deal; Eternal's tax woes
Indian crypto traders are shifting to futures trading for higher leverage and tax benefits. This and more in today’s ETtech Top 5.
Dream11 in talks with BCCI to exit ₹358 crore jersey sponsorship after gaming ban
Dream11 is in talks with the BCCI to potentially exit its jersey sponsorship deal due to the government's ban on real-money gaming, impacting advertising for such platforms. The new online gaming law prohibits promotion of these games, making the sponsorship unfeasible.
BCCI begins process to find new sponsor following Dream11's exit
Team India may enter the Asia Cup without a jersey sponsor as Dream11's partnership ends due to the government's ban on real money gaming platforms. The BCCI is actively seeking a replacement, but finalizing a deal before the tournament seems unlikely. This ban impacts revenue for fantasy leagues and gaming companies, potentially affecting other sponsorships like My11Circle's IPL partnership.
Zomato, Swiggy's GST woes; Amazon's $200-million Axio deal
With the overhaul of India's GST regime, food delivery companies Zomato and Swiggy stare at a new tax burden. This and more in today's ETtech Top 5.
PUBG Battlegrounds maker Krafton eyes major expansion in India: Report
With growth slowing in key markets like China and the US, Krafton sees India as a major opportunity. Sean Sohn, the company’s India head, told the publication that Krafton is actively exploring acquisitions in the country. It also plans to invest at least $50 million annually in India, where PUBG has remained one of the highest-grossing games in recent years.
Dream11, My11Circle, other real money gaming firms begin discontinuing offerings
While some firms have announced the shutting down of real-money offerings, others are weighing the option of tapping overseas markets where real-money play is legal. For the domestic market, they plan to shift to free, ad-supported contest formats. But this is not expected to keep players looking for financial payoffs, engaged.
From Sahara to Dream11: Harsh Goenka calls India's cricket jersey as 'real brand survival test'
Harsh Goenka's comment highlights the risks of sponsoring the Indian cricket team. Dream11 ended its jersey deal after a new gaming law. Many past sponsors like Sahara and Byju's faced financial or legal issues. The Board of Control for Cricket in India seeks a new sponsor for the Asia Cup. Despite the 'jersey jinx,' the sponsorship remains highly desirable.
Real-money gaming ban triggers split in industry response: Legal challenge vs compliance
While most big companies in the RMG space have complied with the new law, one firm, Head Digital Works, which owns India’s top online gaming platform A23, has moved court.
Real-money game over, battle will now shift to the old field
Following the real-money game ban in India, traditional gaming studios anticipate growth as RMG players migrate to casual gaming. This shift is expected to attract investment and talent, with developers focusing on in-app purchases and subscriptions. An industry association has formed to engage with regulators, seeking support and incentives for the gaming sector's continued development.
BigBasket top brass churn; RMG ban pain manifests
Happy Tuesday! BigBasket CEO Hari Menon is expected to take a step back as part of a leadership transition. This and more in today's ETtech Morning Dispatch.
Dream Sports CEO Harsh Jain: Won’t legally challenge real-money gaming ban by Indian govt
Jain said the company has current cash reserves to survive for the next few years as the government’s blanket prohibition on real-money gaming wiped out 95% of its revenue. It will now focus on building businesses in sports AI, streaming, and creator-led fan engagement.
Dream11 parent testing app to foray into financial services under DreamSuite Finance
Dream Sports is testing a new app, Dream Money, to foray into the financial services sector. It has been a major real-money gaming player in India, but it has to close its money-based games after the government banned all forms of online money games.
Online Gaming Act: Dream 11, My11Circle shut down real money games
Dream11 and My11Circle have ceased real-money gaming offerings following the enactment of a law banning such services. Other companies like Zupee and MPL are also discontinuing or suspending real-money games. Companies are exploring alternative advertising models and international markets to mitigate the impact of the new regulations, while also considering legal challenges based on previous court rulings favoring skill-based gaming.
ETSA 2025 winners are here; Job cuts at MPL
The winners of the 11th edition of The Economic Times Startup Awards are here. This and more in today’s ETtech Top 5.
Pokerbaazi stops real money online gaming operations after Dream11, My11Circle
Pokerbaazi has announced a halt to its real money online gaming services. This decision follows the passage of the Online Gaming Bill by the Parliament. The company stated that the suspension is effective immediately. Pokerbaazi will assess its next steps after the Bill becomes law. The company expressed sadness about this development. The future of Pokerbaazi's operations remains uncertain.
India’s online money gaming ban faces first legal challenge as A23 owner moves Karnataka HC
Head Digital Works, the parent company of A23, has challenged the Promotion and Regulation of Online Gaming Law, 2025, in the Karnataka High Court. This action follows the passage of the Online Gaming Bill, which bans online money games to combat addiction and fraud.
Terror funding angle complicates the case for real-money gaming companies
In response to rising concerns about money laundering, terror financing, and tragic outcomes linked to online gaming, the Indian government has enacted 'The Promotion and Regulation of Online Gaming Bill, 2025'. The legislation aims to curb harmful practices, promote responsible gaming, and foster a healthy environment for e-sports and online social games while addressing illegal offshore gaming applications.
Earned money from Dream 11, Rummy, other real money gaming apps? File ITR now to report this income or risk tax notice and likely prosecution
Income from online real money games like Dream 11 and Rummy is taxable, necessitating ITR filing. Even small winnings are subject to a 30% tax rate, and TDS is deducted by gaming platforms. Failure to report such income can lead to tax notices and potential prosecution, emphasizing the importance of compliance.
Gaming regulation roulette may sink billions in VC money
India's ban on real-money gaming has jeopardized nearly $15 billion in investments, leaving venture capital firms and startups scrambling. Companies like Dream11 and Winzo Games are exploring alternative strategies, including wealth management and expansion into the US market.
Foreign investors still constructive on India’s long-term story: Samir Arora
Veteran investor Samir Arora suggests that recent FPI outflows from India are not indicative of a structural shift. He attributes the selling to private equity investors booking profits from IPOs, rather than a negative view on the Indian market. Arora highlights a global shift towards non-US markets, benefiting India.
ETSA 2025 jury meet; and other top tech and startup stories his week
Welcome to a new edition of ETtech Unwrapped — our weekend newsletter packed with the most important stories from this week. Let’s take a look at the recap.
The Economic Times Startup Awards 2025: Nominees for Best on Campus and Comeback Kid
We are excited to bring you the 11th edition of The Economic Times Startup Awards (ETSA). In the run-up to the coveted honours, we have the nominees for the Best on Campus and Comeback Kid categories for you today.
School Assembly Headlines for August 26: Top national, international, sports and business updates
India faces widespread monsoon activity with rain alerts issued. The Sudarshan Chakra air defence system completes its first test. The Centre clears a submarine deal negotiation. A helicopter crashed on the Isle of Wight. The US reports a flesh-eating screwworm case. Dream11 exits as Team India's sponsor. Mirabai Chanu wins gold. SBI requests RBI to allow banks to fund acquisitions.
Winzo enters US market, adds short-video format amid real money gaming ban
Indian gaming platform Winzo has expanded into the United States, marking its entry into a mature mobile gaming market. This move follows Winzo's previous expansion into Brazil and comes as India's new online gaming bill restricts real money gaming. Winzo aims to leverage its user base and portfolio of games to gain traction in the US.
Gameskraft complies with Online Gaming Act; will not pursue legal action
Gameskraft will not legally challenge the new Online Gaming Act, 2025, which bans real-money games. It has already halted such services on its Rummy platforms and cleared all dues. The company now plans to explore compliant opportunities, focusing on innovation, player safety, and alignment with India’s evolving digital gaming regulations.
Online Gaming Bill: Cricket industry's revenue could be hit due to proposed ban on real money gaming
The 'Promotion and Regulation of Online Gaming Bill 2025' threatens real money gaming platforms, potentially impacting sports sponsorships, especially in cricket. While the bill aims to regulate the burgeoning online gaming industry, it distinguishes between esports and real money gaming, favoring the former. The proposed legislation could lead to decreased revenue for fantasy gaming companies and affect player endorsements.
RS clears Online Gaming Bill; Bike taxis back in Bengaluru
The contentious Online Gaming Bill was passed by the Rajya Sabha on Thursday, now awaiting the President’s assent. This and more in today’s ETtech Top 5.
Gaming ads may take a hit; actors, cricketers treading cautiously
Dream11’s three-year sponsorship deal with BCCI has also comes under cloud due to the proposed ban on real money gaming. Meanwhile, Ranbir Kapoor, Aamir Khan, Mahendra Singh Dhoni, Shubman Gill and other celebrities endorsing gaming platforms have started to pull away with the sector under regulatory lens.
View: India’s betting-app ban will stoke money laundering
India has banned real-money online gaming due to concerns about addiction and fraud. This decision may push users to offshore casinos and crypto. The government risks losing tax revenue and boosting illegal money flows. While some activity may shift to physical venues or esports, addiction will persist. International sites and crypto will become popular.
Real-money gaming ban may hit payment, regtech businesses hard
India's ban on real-money gaming is poised to significantly impact the fintech sector, potentially causing a monthly loss of Rs 20,000-30,000 crore in transaction volumes for digital payment companies. Regulatory technology startups providing customer verification services may also see business decline as gaming platforms scale back KYC processes.
Real money gaming ban led to startup ‘explosion’: Snapdeal cofounder Kunal Bahl
Kunal Bahl notes a surge in new startups after the real-money gaming ban. Talent from the RMG sector is launching ventures, seeking guidance from Titan Capital. The Online Gaming Bill 2025 led to the ban, impacting major platforms. Concerns rise over job losses, startup investments, and celebrity endorsements.
New law likely to fuel shift from real-money gaming to esports, casual games
The Promotion and Regulation of Online Gaming Act, 2025, is expected to boost esports and casual gaming in India by providing regulatory clarity. This shift could redirect investments from real-money gaming, which faces bans, towards these emerging sectors. Industry leaders envision India becoming a global hub for game development and esports talent, potentially leading to Olympic success.
Chaos in play: Firms scramble for survival as gamers pull funds
India's online money gaming ban has sparked industry turmoil, with companies strategising and gamers withdrawing funds. Experts caution that the prohibition could inadvertently fuel black-market activity, potentially reviving the 'satta' market. Concerns rise over potential circumvention through VPNs and unregulated platforms, prompting calls for reconsideration and regulated alternatives.
Ban on real money gaming may york cricket revenues
A proposed ban on online games involving money is anticipated to significantly reduce advertising and sponsorship revenue for sports, particularly impacting the BCCI and JioStar. Fantasy sports firms, major cricket property backers, contribute substantially to events like the IPL and ICC tournaments.
Offshore betting sites cash in as RMG ban-hit local players retreat
India's ban on real money gaming sees offshore platforms surge. Parimatch and 1XBet offer huge deposit bonuses. Experts warn of uncontrolled gambling and cybercrime. The govt defends the ban as protecting society. Illegal sites exploit loopholes, routing money via crypto. They use aggressive marketing and rigged games. Experts highlight risks of fraud and lack of player protection.
Ban on online money gaming: what does the fine print say?
The bill proposes a ban on online money gaming. If passed, it would criminalise offering, facilitating, advertising, or funding such games. Both individuals and companies, including executives, can be held liable under this bill. Penalties for violations include imprisonment of up to three years and fines up to Rs 1 crore. Repeat offenders will face harsher penalties.
ET Startup Awards 2025: Unveiling the Bootstrap Champ & Top Innovator nominees
The Economic Times Startup Awards (ETSA) are back! We have been hard at work for the past few months to bring you the 11th edition of the coveted honours.
Rajya Sabha passes online gaming bill to regulate esports, gaming industry
The Rajya Sabha passed the Online Gaming Bill 2025 by voice vote, despite opposition protests. The bill seeks to ban money-based online games, promote e-sports and social gaming, and proposes penalties of up to three years' jail and Rs 1 crore fines.
Online Gaming Bill: Companies turn to law; Panic grips gamers
Happy Thursday! Gaming companies are prepping legal challenges to the new Online Gaming Bill. This and more in today’s ETtech Morning Dispatch.
Government proposes dedicated regulator for online gaming under new law
The Union Cabinet on Tuesday cleared a draft bill to regulate India's booming online gaming and e-sports industry. Executives from the online real-money gaming industry—home to unicorns such as Dream11, Games24x7 and Mobile Premier League (MPL)—warned the move would “severely impact” the sector.
Lok Sabha clears Online Gaming Bill, proposes to ban real money games
India’s Online Gaming Bill 2025: The Lok Sabha has approved the Promotion and Regulation of Online Gaming Bill, 2025, imposing a blanket ban on real money gaming to combat fraud and addiction. While the government aims to foster e-sports and skill-based games, the industry fears significant job losses and reduced tax revenue.
Industry mulling legal challenge among options as online gaming bill gets Parliamentary nod
As senior executives from the industry huddle together to chart their next move in a fight for survival, legal luminaries see the law being contested in court on standpoints ranging from constitutional protection to the right to trade, and more.
ETtech Explainer: What happens after Lok Sabha clears Online Gaming Bill?
While the government says the ban addresses the risks of fraud, money laundering, and terror financing, while encouraging the growth of e-sports and skill-based online games, industry stakeholders say it could push consumers to illegal offshore gambling and unregulated platforms.
IPL for Gen Z: Cricket, commerce, and connected screens
The Indian Premier League has evolved into a significant social and commercial hub for India's Gen Z, with 85% following the tournament. A considerable portion actively participates in fantasy sports leagues, driven primarily by the opportunity to win money rather than testing their sports knowledge.
ETtech Explainer: What’s the way forward for gaming industry after Lok Sabha clears Online Gaming Bill?
The government says that the ban addresses the risks of fraud, money laundering, and terror financing, while encouraging the growth of e-sports and skill-based online games. However, industry stakeholders say it could push consumers to illegal offshore gambling and unregulated platforms.
Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax loss
India’s top gaming bodies All India Gaming Federation (AIGF), E-Gaming Federation (EGF) and Federation of Indian Fantasy Sports (FIFS) have urged Home Minister Amit Shah to reconsider the Online Gaming Bill, 2025, warning that banning real-money skill games could cripple a Rs 2 lakh crore industry, cost Rs 20,000 crore in taxes, deter FDI, end 200,000 jobs.
Cabinet approves blanket ban on online money games; proposes 3 years jail, fine upto Rs 1 crore
The cabinet has approved a bill to ban online money gaming due to addiction and financial losses. The bill proposes penalties for violations and impacts companies like Dream11. It aims to curb cybercrime and money laundering. The government will promote e-sports and social gaming. The bill defines these categories and encourages indigenous technology. It will be presented in Parliament soon.
Visual telematics startup Cautio closes $3 million funding round
Existing investors 8i Ventures and AU Small Finance Bank, besides other investors, participated in the funding round. Earlier in April, the startup that offers cost-effective video telematics products and tailored solutions to help mitigate road safety issues, had raised $1.2 million as part of the same round. This takes the total funds raised in the seed funding round to $3 million.
Bhavit Sheth named chairman of IAMAI’s digital gaming committee; Google’s Nikhil Bansal appointed co-chair
Bhavit Sheth from Dream Sports has taken the helm as chairman of IAMAI's Digital Gaming Committee, while Nikhil Bansal from Google steps in as co-chairman. They take over from Bhavin Pandya and his esteemed colleagues, paving the way for a new era in India's flourishing gaming sector.
ETtech Interview | Dream11 won’t raise funds from Chinese investors ever again: CEO Harsh Jain
“We want to go public as a sports tech company”, says Dream Sports CEO Harsh Jain on Dream11’s IPO plans, even as diversification plans are afoot with DreamSetGo and DreamX.
Dream11 posts higher profit, revenue; auditor flags risk from GST demand
Dream11's auditor SR Batliboi & Co, an affiliate of EY, said the notices issued to the company by GST authorities seeking more than Rs 28,000 crore in past tax dues “may cast significant doubt on the group’s ability to continue as a going concern”.
Dream11 renews partnership with NBA, WNBA
Dream11 will maintain its position as the official fantasy gaming partner for both the National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) in India, thanks to a multiyear extension of their existing partnership. The renewal, which stems from their collaboration since the 2017-18 season, enables Indian fans to engage in various NBA and WNBA-themed fantasy games on a daily basis.
Dream11’s FY22 revenue grows 50%, but profit more than halves on higher costs
Net profit at the Mumbai-based online platform fell to Rs 142.86 crore from Rs 327.59 crore in fiscal 2021, Dream11’s regulatory filings sourced from Tofler showed.
Scoop: Dream Sports' valuation may double to $4 billion
Dream Sports, the operator of Dream11, Fan Code and Dream Pay, is looking to get funding by way of a secondary share sale that will provide an exit to early-stage investors, including China's Tencent Holdings.
Dream11 founders move Karnataka high court to quash gaming ban FIR
This comes two weeks after Dream11 had to suspend its operations in Karnataka, following complaints alleging violation of the newly implemented gaming ban in the state.
Kedaara pads up to join fantasy sports platform Dream 11’s $200-million round
Kedaara is competing with global and domestic funds such as TPG, Advent International, James Murdoch’s Lupa Systems and Chrys Capital that have already evaluated the investment opportunity until lockdown temporarily halted the fundraising exercise at a $2-2.2 billion valuation, said four people with knowledge of the development.
Dream11's parent company challenges insolvency petition in NCLAT appeal
On Tuesday, Sporta Technologies, the parent company of Dream11, lodged an appeal with the National Company Law Appellate Tribunal (NCLAT) in Delhi, challenging the National Company Law Tribunal (NCLT) Mumbai's recent decision to accept an insolvency petition. The insolvency petition, filed by Reward Solutions' resolution professional, alleged that Sporta Technologies defaulted on dues amounting to Rs 7.61 crore. I
Dream11 clocks Rs 180-crore profit in FY20
Dream11, which is run by Sporta Technologies, parent of Dream Sports, also saw its revenue increase by over 2.5 times to Rs 2,070.4 crore in FY20 from Rs 775.5 crore in FY19.
Dream11 goes offline in K’taka; Urban Company responds to protestors
Dream11 has halted operations after the Bengaluru Police registered an FIR against its founders. It still maintains it is not in breach of the Karnataka gaming ban.
NCLAT tells IRP to take no further steps in Dream11 insolvency; NCLT order stayed
The counsel appearing for the co-founder and COO of Dream11, Bhavit Seth, had requested that no further steps be taken in the insolvency resolution professional, as any action will adversely affect the company which is preparing for the upcoming IPL season.
Dream11 suspends operations in Karnataka after FIR against founders
With IPL 2021 underway and T20 World Cup around the corner, the Karnataka gaming ban is a setback for gaming apps like Dream11, Mobile Premier League (MPL) and Paytm First Games.
Raise Financial Services appoints Amit Gupta as group CFO
Gupta brings over two decades of experience in financial services. He previously served as group CFO at non-banking financial company Arka Fincap and held a senior vice president role at Indostar Capital Finance. Earlier in his career, he worked at ICICI Bank as a senior relationship manager.
