WHAT IS DREAM 11 ?
Dream 11 is a fantasy gaming platform launched in 2008 by Harsh Jain, co-founder, and CEO, that allows users to participate in different fantasy games like cricket, football, basketball, kabaddi, etc. Currently, it has 80 million-plus users.
BUSINESS MODEL OF DREAM 11
Their business model is simple as they provide a platform where players across different sections can come together and use their knowledge and skills.
They can make their own teams, select players according to their choice by using their skills, knowledge, and expertise, and then compete with other players who did the same. Those who score the highest will be the winners of the game.
HOW DOES IT MAKE MONEY?
Dream 11 offers a variety of contests with entry fees ranging from Rs. 12 to Rs. 11000 and a prize pool ranging from Rs. 25 to Rs. 35 crores. Along with the range of spots, the spot is nothing but our competitor with whom we will compete.
The spot starts as low as 2 and goes up to 42 lakhs. Let’s try to understand with an example. A cricket match between Mumbai Indians (MI) and Chennai Super Kings (CSK) is scheduled, and to form a team, I can select a maximum of seven players from one team and four from the other.
Then I select a captain and vice-captain. Now I have various options to enter any contest. Let’s say I enter into a contest for Rs. 99 with prize money of Rs. 1 crore with spots for around 123k players.
Now whichever team among 123k players scores the highest will be the winner, and the prize money of Rs. 1 crore will be distributed among the players whose team performs well.
Dream 11 will receive $1,23,00000 (123000 x 99) from 123k players and cut their 20% commission from it: the rest of the money will be distributed as a profit. They profit in this manner.
Competitors List
- Gamezy
- Mobile Premier League
- HalaPlay
- Ballebaazi
- Hitwicket
- My 11 Circle
CONTROVERSIES
In 2017, a petition was registered in the Indian high court against the company, stating that Dream 11 involves gambling, but the high court rejected that plea, stating that playing Dream 11 involves superior knowledge, skills, judgment, and attention.
When Dream 11 launched their app, Google denied downloading it from the play store, stating that we are not allowed any app to download from our platform that involves gambling.
Conclusion
Despite facing many issues, the company is on the growth path and recently got funding of $840 million at a valuation of $8 billion. It is India’s first gaming unicorn company. As their highest revenue comes from IPL, which is already going on, and in the future, they will do well.
Read More : Top 5 Fantasy Cricket Apps in India – Best Fantasy Apps
