Indian Fantasy Sports Platform Dream11 Raises $100 Million

According to AC Nielsen and the Indian Federation of Sports Gaming, the number of online fantasy gaming operators doubled to 60 from 30 in 2017 and about 100 million Indians are estimated to play fantasy sports by 2019. The leader in the space Dream11 with 90% of the market recently raised $100 million in venture funding.

Dream11’s Journey

Mumbai-based Dream11 was founded by Harsh Jain and Bhavit Sheth in 2012.  It was one of the first fantasy gaming platforms in India. It offers Indian sports fans a platform to showcase their sports knowledge. Fans can create their own team made up of real-life players from upcoming matches, score points based on their on-field performance and compete with other fans.

Dream11 is hosted on AWS. It has built a state-of-the-art Progressive Web App to provide a near-native experience to its users on its mobile web channel. Its backend is being built as a microservices architecture using highly scalable systems such as Cassandra, Kafka, MongoDB, and Spark. Its Android app boasts of 5 million daily active users. During the IPL games in 2018, it hosted 1 million concurrent users.

From 1 million users in 2014, Dream11 currently has over 40 million users playing Fantasy Cricket, Football, Kabaddi, and NBA on its platform. Its growth has been fueled by endorsements from former Indian cricket captain Mahendra Singh Dhoni and cricket commentator Harsha Bhogle. It is also the official fantasy sports partner of National Basketball Association, Hero Indian Super League, Hero Caribbean Premier League, and VIVO Pro Kabaddi League.

Dream11 has had its share of legal woes. In 2017, Varun Gumber, a resident of Chandigarh complained to the Punjab and Haryana high court that he was a victim of illegal gambling and had lost INR 50,000 ($700) while playing some games.

However, the court this year has ruled in Dream11’s favor. It has observed that such games cannot be considered gambling and that playing these games involves substantial skill. Further, Dream11 is a company with due registration that pays service tax and income tax. Therefore, the company is granted protection under Article 19 (1)(g) of the Constitution.

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.