Dream11 became the first e-gaming unicorn in India, and for good reason. The company is one of the biggest players in the market, followed closely by the likes of MPL, which also became a unicorn a few fays ago. Now, soon after IPL 2021 resumed in the UAE, the fantasy gaming platform has announced that it clocked a profit of ₹180 crores in FY20, an amount that surpasses the revenue of several franchises playing in the IPL.
Additionally, the company has recorded ₹2070 crores in operational revenue for the same period, an increase from ₹775 crores in FY19. Dream11, whose parent company is Sporta Technologies, today stands as one of the few Indian consumer-tech unicorns to be profitable. Dream11 attributes the astounding growth of its revenue to its innovative marketing strategies and exciting new products.
The thirteen-year-old Dream11, founded by Harsh Jain and Bhavit Sheth, has succeeded in the global arena. Even though it is missing from the Google Play Store (since the app store’s policies do not support real-money games), the platform has over 100 million users. Moreover, Dream Sports raised $400 million in a funding round earlier this year. The company’s expenses grew to ₹1,867 crores in FY20 compared to ₹934 crores the previous year. Much of the expenses (71% to be exact) was spent on advertising and promotions, and expenditure on employee benefits rose by 133.6% to ₹153.21 crore during FY20.
The fantasy gaming market has picked up the pace in recent times, especially with growing popularity of IPL in India. Dream11 allows users to create their very own team using real players for upcoming matches and then compete with others for cash rewards.
How do you earn money while playing on Dream11? After you have created and finalized the team, you will earn points based on the performance of the players in the real-life match, and the more points you earn, the more money you make!
Dream11 offers multiple sports on its roster, including cricket, football, basketball, hockey, kabbadi, and more.
If you think that what Dream11 offers is a lot like online betting and gambling, you are not the first – several states have the same thought, and Assam, Odisha, Telangana, Nagaland, Sikkim, and Andhra Pradesh have even banged the real-money gaming industry. There is a reprieve for Dream11, however, as the Supreme Court has deemed that Dream11 was a game of skill.