Dream11 Suspends Paid Contests, Ends ₹358-Crore Sponsorship with BCCI

Just weeks before the Asia Cup in Dubai, the Board of Control for Cricket in India (BCCI) has been left searching for a new team sponsor after fantasy gaming giant Dream11 withdrew from its sponsorship agreement. The exit follows the recent passage of a law in Parliament banning real money-based online games.

According to a BCCI official, Dream11 representatives met CEO Hemang Amin earlier this week to convey that they would not be able to continue as the team sponsor under the prevailing circumstances. “They informed us that due to the new legislation, they cannot proceed. As a result, Dream11 will not be associated with the team for the Asia Cup. The board will soon issue a fresh tender to invite new sponsors,” the official said.

The withdrawal, however, will not lead to any penalty since the sponsorship agreement included a clause protecting the company from obligations if government regulations adversely affected its core business.

Founded 18 years ago, Dream11 grew to become India’s largest fantasy sports platform with an estimated valuation of $8 billion. In July 2023, it replaced Byju’s as Team India’s lead sponsor in a three-year deal worth ₹358 crore. The company has also been a key player in the Indian Premier League (IPL), with franchise partnerships and brand campaigns featuring top cricketers including M.S. Dhoni, Rohit Sharma, Hardik Pandya, Rishabh Pant and Jasprit Bumrah. In 2020, Dream11 even stepped in as IPL’s title sponsor when Vivo exited.

Beyond Indian cricket, Dream11 has built a strong global presence. It is the official fantasy partner of the Caribbean Premier League, title sponsor of New Zealand’s Super Smash, and has tie-ups with Australia’s Big Bash League and Women’s Big Bash League. In 2018, it also partnered with the International Cricket Council. The platform has ventured into other sports as well, including football, basketball, kabaddi, and hockey through deals with the Indian Super League, the NBA, the Pro Kabaddi League, and the International Hockey Federation.

The company’s business model was hit hard by the government’s decision to ban online money-based games. Following the new legislation, Dream11 suspended all paid contests and announced that only free-to-play formats would remain on its platform.

The government justified the move by citing concerns over financial losses, addiction-related mental health issues, and risks of illegal activities. The Bill stated that unregulated real-money gaming platforms were linked to money laundering, tax evasion, fraud, and in some instances, the financing of terrorism—posing serious threats to national security and public order.

With the Asia Cup fast approaching, the BCCI now faces the task of finding a new sponsor for Team India in record time.

Also Read: Online Gaming Bill Passed in Rajya Sabha: Centre Outlines Its Benefits