Online Sports Bill: Dream11 CEO opens up about the impact- ‘95% of revenues disappeared…’ | More sports News

Dream11 has a 2023-2026 contract price USD 44 million (Rs 358 crore) for being the title sponsor of the Indian cricket workforce. (AFP)

Dream11 CEO Harsh Jain had dropped a large trace on layoffs days after Parliament handed the Promotion and Regulation of Online Gaming Bill, 2025.Fantasy sports big Dream11 has intimated to the BCCI that it will not have the ability to proceed with the title sponsorship of the Indian cricket workforce as the income stream goes to get hit badly.Dream11 has a 2023-2026 contract price USD 44 million (Rs 358 crore) for being the title sponsor of the Indian cricket workforce.The Dream11 brand is printed on the jerseys of the Indian gamers. It can be the sponsor of a number of Indian Premier League franchises. Dream11 can be the official fantasy associate of the Indian Super League.“95 per cent of Dream11’s revenues have disappeared overnight, and 100 per cent of our profits…,” Dream11 CEO Harsh Jain advised Moneycontrol on Monday.

However, Jain maintained that there will not be any layoffs.“We are not interested in doing any layoffs. All the talent here is safe,” Jain stated.While the new invoice permits social gaming and subscription-based use, the ban on actual cash gaming implies that the greatest chunk of their income stream is finished away with.

In a latest assertion issued after the legislation was handed in the Upper House of Parliament, Dream11 acknowledged: “We have always been a law-abiding company and have always conducted our business in compliance with the law. While we believe that progressive law would have been the way forward, we will respect the law and fully comply with the ‘Promotion and Regulation of Online Gaming Bill 2025’.”Dream11 can be the official associate of the Caribbean Premier League and sponsors Australia’s Big Bash League.The gaming ban impacts platforms for card video games, poker, and fantasy sports, together with India’s wildly well-liked homegrown fantasy cricket apps.The authorities stated the fast unfold of playing platforms had brought about widespread monetary misery, habit, and even suicide amongst the youth.It additionally stated it was linked to fraud, cash laundering, and terrorism financing.