In this article, we will talk about the company which has made a “Satta” or “Betting” legal. Betting is just an activity of sports we predict by placing a wager on it.
In India cricket has become a synonym for sports. Likewise, there are many tournaments/series of cricket that are hosted by BCCI & ICC like IPL, T20 Worldcup, Asia Cup, and many ICC tournaments.
But above all IPL consider the most awaited tournament. Many sports lovers love to wager on matches of tournaments of IPL.
Likewise, football is the 2nd most loved sport in India, In which most people wait for English Premier League.
But we all know that betting is an unlawful activity in India. India’s Supreme Court has governed horse racing, a game of expertise, and this is lawful. Nonetheless, all different game wagering depends on the laws of the individual states or the overall laws of India.
Now if you are thinking that sports betting is an illegal activity in India, how can I bet on this. With the help of “Dream 11,” you can bet on sports in India.
This is because dream 11 is not a betting application but it’s a fantasy app where you create your imaginary team and participate in different contests.
On 30th July 2021, the supreme court upheld Dream 11 Fantasy sports as a game of skill.
So Dream 11 is a genuine company with a simple business model for fantasy sports.
About Dream 11:
Dream11 is a fantasy sports application. This application allows its users to create imaginary teams. It was founded in 2008 by Harsh Jain, who did engineering from the University of Pennsylvania, and Bhavit Sheth, who was a graduate of Mumbai’s DJ Sanghvi. They were both around 22.
As Bhavith and harsh was huge fan of English football fantasy leagues so they started the first project of Dream 11 only for football. Later on, they decided to do something similar with the Indian Premier League (IPL).
Initially, Dream 11 was working as an ad-based business model with a long format. In 2012, the company decided to stop this model and focus on daily matches where users can put money.
In 2012, it launched a freemium Fantasy Cricket. Things started to take off in 2014 when it reached 1 lakh users, and the company raised its first round of funding from Kalaari Capital.
In 200 Dream 11 registered 100 million users which got increased to 140 million at 2021.
Dream 11 Business Model:
Dream 11 makes money with a commission-based model. In the dream 11 application, there are many contests for cricket, football, and kabaddi sports a user can participate.
How does Dream 11 Make Money?
Here is an example:
Let’s assume there is one mega contest:
Total no of participants:6000
Entry fee per participant:499 INR
Total money collected :6000*499=29,94,000 INR
Total cash price= 25,00,000 INR
Commission charged is around 4.94 Lakh and that works out to a whopping 16%. The commission earns from running the contest is a business model and earning source of Dream 11.
Dream 11 Founders & Team:
Dream 11 was founded by 2 young entrepreneurs Harsh Jain and Bhavit Seth in 2008.
Harsh Jain (Co-founder & CEO):
According to Biographyinsider: Harsh is an electrical engineer who completed his studies at the University of Pennsylvania. Before dream 11 harsh started one social media agency called Red Digital.
Harsh got his MBA degree from Columbia Business School (New York) in 2012-2014.
In his early life, Jain was very much interested in gaming and playing. He is a great fan of the Indian cricket team since childhood and the Manchester United Football Club. To conquer his love for sports, gaming, and technology, Harsh started Dream11 back in 2008 with Bhavit Sheth and is now focused to make a better platform for every sports fan across the country and all over the world.
Bhavit Sheth (COO & Co-Founder)
According to Yourstory: Bhavit has a Bachelor of Engineering degree from D.J. Sanghvi College in Mumbai and an MBA from Bentley University (Boston). He also holds a Diploma in E-commerce strategies from Harvard. As the COO, he is focused on providing the best, most trusted, user-focused experience via operational excellence throughout the company’s processes. Bhavit is an avid fantasy sports enthusiast, a lifelong Manchester United and Indian cricket team fan.
Dream 11 WorkPlace & Team:
As per the report of August 2020, the strength of dream 11 was 150, while the current LinkedIn profile of Dream 11 has a strength of 500-1000 employees.
Dream11 work culture is sporty and enthusiastic with a work-life balance according to most of its employees. Dream11 is famous for a chilled-out working atmosphere where the Dream11 employees can delve into fun and games to beat boredom.
The company was recognized among India’s Great Mid-size Workplaces in 2019 by Great Place to Work in its list of India’s 50 Great Mid-size Workplaces.
Mission of Dream 11 “ To make sports better”
Funding of Dream 11:
Dream11 has raised 9 rounds of funding to date to mop up close to $1.2 billion, as of April 2022.
The last funding round bagged by dream 11 was 840 Million $. Dream11 has notably raised funding from numerous biggies amongst the investors including the Chinese giant, Tencent, which poured in $100 mn worth of funds via a Series D funding round in September 2018.
Dream 11 Competitors:
Dream 11 is the number one application or platform in the fantasy gaming industry. There are lots of competitors launching their applications to compete with dream 11.
Here are some competitors:
- Fantasy Akhada
- Mobile Premier League
- My circle 11
Frequently Asked Question:
Dream11 started in which year?
Dream11 was launched in the year 2008.
How much is the revenue of Dream11?
Dream11 reported revenue of Rs 2,070.4 crore in FY20.
Is Dream11 making profit?
The Indian fantasy sports market is on its way to becoming an international behemoth, estimated to grow from $4.6 billion in FY21 to over $22 billion by FY25 as per a recent report by the Federation of Indian Fantasy Sports in partnership with Deloitte.
Who is the owner of Dream 11?
Dream11 was co-founded by Harsh Jain & Bhavit Sheth in 2008.
Dream 11 Business Model (In Hindi)
Watch a complete video in Hindi to understand how does dream 11 makes money.
Dream 11 is India’s gaming company that enters become a unicorn. This platform become an income source for sports geek who holds the knowledge of sports or those who wants to showcase their sports analytical skills.