Dream11 launches Dream Money, planning stock-broking and wealth-management services as pivot
Regulatory ban on real-money gaming caused roughly 95% revenue decline overnight
Company pivots to free-to-play model, advertising, sponsorships and diversified monetisation strategies
Dream11 has applied to enter the stock-broking and wealth management business under a new arm called Dream Money, signalling a strategic shift from gaming into financial services after the government’s clampdown on real-money online contests.
The move is a high-stakes diversification by a company that built its scale on paid fantasy contests. Regulators’ recent restrictions on real-money and betting-style games effectively gutted Dream11’s primary revenue engine, forcing the company to explore adjacent digital financial services that can monetise its large user base.
What Dream Money Will Be?
According to reports, Dream Money is being positioned as a discount brokerage and wealth platform that would compete with established brokers such as Zerodha, Angel One and Groww. The push would leverage Dream11’s consumer reach and mobile-first experience to sell broking, mutual funds, fixed deposits and similar retail-investment products.
The business shock that prompted the shift: Industry reporting and Dream11’s own public remarks indicate a near-total revenue wipeout after the government’s ban on real-money gaming, figures cited by company executives and press outlets point to a roughly 95% decline in revenue from the earlier cash-contest model. That collapse prompted the company to suspend paid contests and accelerate alternative revenue plans.
International Expansion
Dream11 on Tuesday announced the start of a major international rollout, making its free-to-play platform available in 11 markets, including the United States, United Kingdom, Australia and the United Arab Emirates, a move the company says will help diversify revenue after regulatory changes at home upended its core business.
The expansion, which also covers New Zealand, Canada, Malaysia, Nepal, Bangladesh, South Africa and Sri Lanka, will initially not include real-money contests in those jurisdictions, MoneControl reported.
Dream11 Pivot
The launch is the latest step in a rapid strategic shift that began after India’s new online-gaming law effectively banned the cash-contest model that generated the bulk of Dream11’s revenues.
Company co-founder Harsh Jain told reporters in August that roughly 95% of the firm’s revenues and all of its profits came from cash-based contests under the old model, a dependence the new law rendered unsustainable and prompted an urgent pivot.
To replace lost income from paid contests, Dream11 has moved to a free-to-play product supported by advertising and sponsorships and has been courting brands to monetise engagement.
Over recent months the platform has begun onboarding large advertisers, including Swiggy, Astrotalk and Tata Neu, and is offering a mix of banner ads, sponsored contests and tailored campaigns aimed at segments from young mobile-first fans to more seasoned sports followers. Dream Sports says fantasy cricket still drives strong engagement on the platform.
