Dream 11 Pulls Out Of Indian Cricket Team's Sponsorship As Parliament Passes Bill Against Real Money Gaming

The Indian national cricket team is in search of a new sponsor, with only two weeks remaining until the Asia Cup in Dubai, as Dream11 notified the Board of Control for Cricket in India (BCCI) that it would no longer be able to sponsor the team.

This comes just days after the enactment of a law prohibiting real-money-based online games by the Parliament, as Dream 11 is a prominent company in this industry.

“(Representatives of) Dream11 visited the BCCI office and informed CEO Hemang Amin that they won’t be able to continue… As a result, they won’t be the team’s sponsors for the Asia Cup. The BCCI will float a new tender soon,” a BCCI official was quoted as saying by The Indian Express.

Another official has stated that the withdrawal won't incur any penalties as the contract comprises a clause. This clause specifies that if the sponsor's main business is affected by any government-enacted law, they are not obligated to make any payments to the cricket board.

Established 18 years ago, Dream11 has grown to become the largest fantasy gaming platform in the nation, boasting a valuation of $8 billion as reported by Bloomberg. In July 2023, it secured a three-year contract worth Rs 358 crore to be the primary sponsor of the BCCI, succeeding the educational tech company, Byju’s.

Dream11 maintains a significant footprint in the IPL, having contracts with numerous franchises. It has enlisted several leading players as its brand ambassadors, such as Mahendra Singh Dhoni, Rohit Sharma, Hardik Pandya, Rishabh Pant, and Jasprit Bumrah.

The reach of Dream11 also expands beyond the boundaries of India. Dream11 is not only the official fantasy partner of the Caribbean Premier League but also the title sponsor of Super Smash, New Zealand's domestic T20 competition.

Additionally, it plays a role in the Australian domestic T20 competitions, namely the Big Bash League and the Women's Big Bash League. In 2018, Dream11 further expanded its reach by announcing a partnership with the International Cricket Council.