After Real Money Gaming Ban, Dream11 Parent Ventures Into Investment Space

Amid the ongoing turmoil in India’s real money gaming sector, in compliance with the Promotion and Regulation of Gaming Act, 2025, which was signed into law yesterday, Dream11’s parent entity Dream Sports has now forayed into the investment tech space with the launch of Dream Money.

Dream Money’s app, listed on both Google Play Store and App Store, was last updated on August 18 and has crossed more than 50,000 downloads.

As per the information available on the Play Store, the app facilitates users with investment in gold and fixed deposits. For its gold investments, Dream Money has partnered with digital gold platform Augmont. It also helps users with tracking their expenses by adding bank accounts, mutual funds and stocks in one place.

Dream Sports has declined to comment on Inc42’s queries around the development.

Fantasy sports major Dream11 announced the suspension of its cash contests and real-money gaming operations in response to the passage of the Promotion and Regulation of Online Gaming Bill, 2025, which imposes a blanket ban on all such games in India. 

Dream11 is seen as the biggest revenue contributor to Dream Sports, in comparison to its other offerings. The company has transitioned Dream11 into a free-to-play online social gaming platform.

While the fantasy sports giant has paused its operations, its app continues to advertise Dream Money. 

Apart from its online gaming platform Dream11, the parent entity continues to run other verticals, including FanCode, Dream Sports Foundation, DreamSetGo, Dream Cricket 25, Dream Capital and Sixer.

Via its other verticals, Dream Sports offers mobile gaming, digital live sports streaming, sports tour and event experience and much more.

Founded by Harsh Jain and Bhavit Sheth in 2008, Dream11 has been one of the major players in India’s fantasy sports ecosystem, with more than 280 Mn users. It counts Tiger Global, ChrysCapital, Multiples and TCV among its backers. The firm was last valued at $8 Bn in 2021 Dream Sports, the parent company, was formed as the ecosystem expanded to include other ventures like FanCode and DreamSetGo.

The Real Money Gaming Farewell

President Droupadi Murmu yesterday gave assent to the Promotion and Regulation of Online Gaming Bill, a day after it was cleared by the Rajya Sabha.

The Indian real money gaming industry had a sword hanging over its head since 2023, when the government imposed a 28% goods and services tax. While the companies were fighting their stance while taking the load of the taxation rules, the ban came abruptly.

The Act prohibits all forms of real money gaming, whether based on skill, chance or a hybrid of both. It also puts a ban on advertising and promotion of such games across all media platforms and blocks banks from processing financial transactions related to real money gaming platforms. 

It also aims to promote esports by establishing or designating a national-level regulatory authority responsible for supervising the sector.

After the Bill was passed, several notable real money gaming platforms including Rummy Circle, A23, PokerBaazi, Dream11, Rush (Hike), MPL and WinZO, among others, have shut their cash contests and real money gaming offerings.

While the new Act has a wide industry impact, there are also unavoidable financial implications. India collected approximately INR 6,909 Cr in GST from the real money gaming sector during the six months from October 2023 to March 2024, after the new 28% GST regime was implemented.

Real Money Gaming was one of the key revenue drivers for most of these leading gaming companies. 

On the financial front, Sporta Technologies  Private Limited (legal entity of Dream11), recorded a total revenue of INR 6,375 Cr in the financial year ended in March 2023 (FY23), on a net profit of INR 223.1 Cr.