After facing a ban on real-money gaming, Dream Sports, the parent company of Dream11, is strategically diversifying its portfolio into fintech, AI, and sports entertainment, including a new wealth management and stockbroking platform, to engage its 300 million registered users.
Photograph: Courtesy, BCCI
Key Points
- Dream Sports is diversifying its business beyond real-money gaming, focusing on 11 companies, including a new fintech venture.
- The company has received Sebi approvals to launch a wealth management and stockbroking platform, aiming to compete with firms like Zerodha and Groww with an AI-first approach for the masses.
- Dream11 is pivoting into a second-screen sports entertainment platform, targeting 50 million monthly active users during the IPL by enhancing interactive features and creator engagement.
- Dream Sports is not seeking external funding, relying on its bottom-line growth to invest in subsidiaries like DreamSetGo, Fancode, DreamCricket, DreamPlay, and Dream Money.
- Dream Cricket recently partnered with Winners Alliance to feature official names and likenesses of over 500 international cricketers, enhancing its AAA category game.
Following the ban on real-money gaming, Dream Sports, parent of sports entertainment platform Dream11, is sharpening its focus on a broader portfolio of 11 companies to regain mindshare among its 300 million registered users.
Dream Sports is now focusing on Dream11’s pivot into a sports interactive platform while expanding across other products, cofounder Harsh Jain told Business Standard.
Dream Sports’ Strategic Diversification
In a recent development, Dream Sports has entered the wealth management and stock broking segment.
Jain confirmed that the company has received all the requisite approvals.
The initial focus of the firm will be on wealth management.
He expressed the company’s ability to erve a mass user base when it came to its fintech business.
“We’re also launching a brokerage side, which would then compete in that same space as Zerodha, Groww and Dhan.
“But we want to focus on the masses and artificial intelligence (AI) first.
“Today, AI is actually getting to a place where we can help the long tail of people and the people that lose money,” he added.
“We got all the approvals from the Securities and Exchange Board of India (Sebi). And, so we’re launching that very soon,” he added.
Evolution of Dream11 and Future Plans
Dream11 was earlier known for its popular fantasy game RMG format.
The ban on RMG last year wiped out more than 95 per cent of the company’s revenue overnight.
Later in 2025, the platform pivoted to becoming a second-screen sports entertainment platform, allowing fans to connect with creators. Jain said the company is expecting a monthly active user (MAU) of 50 million during the upcoming Indian Premier League (IPL).
“Now, after the World Cup to the IPL, you will see us doing a lot more on the interactive part.
“There are 130 million people watching on connected TV today and that number is exploding.
“All those people also have a phone in their hand, and they are either on WhatsApp or social media. We want them to be on Dream11,” Jain said.
To deepen user engagement, Dream11 has onboarded around 100 creators, including former cricketers, as it looks to monetise the format through advertising and in-app purchases.
Jain said the structure of the company now includes a setup that reflects an approach similar to how ‘private equity meets incubation’ of startups.
Investment Strategy and Subsidiary Growth
He said the company was not looking to raise funding and was well-capitalised based on the bottomline growth over the past five years.
This would allow it to invest across subsidiaries, such as sports experiential platform DreamSetGo, sports OTT Fancode, AAA category game DreamCricket, AI athlete intelligence DreamPlay, fintech platform Dream Money, and open source and tech service initiative Dream Horizon, among others.
“Each (business) needs a different amount of (investment).
“For example, a brokerage business requires a higher marketing budget because you’re going against incumbents,” he said.
“The way we’re treating it is that each business unit has their own funding requirements and comes to the parent, which is our board of investors, and comes and asks for funding,” Jain added.
To help scale, the company is offering employment stock options (ESOPs) to the founding teams. While the company’s endeavour across fintech, AI athlete platform, and AAA game, among other initiatives, are early ventures, Jain said platforms like Fancode and DreamSetGo had grown to become stable businesses.
When it came to Dream11, he said, “Dream 11 has the ability to grow disproportionately worldwide by redefining, like creating this watch alone, sports space,” he added.
Dream Cricket’s Partnership with Winners Alliance
On Wednesday, Dream Cricket announced a partnership with Winners Alliance, the global athlete-centric commercial entity representing international cricketers through the World Cricketers’ Association (WCA).
As part of this partnership, Dream Cricket will feature the official names, likenesses, and playing styles of more than 500 internationally-recognised cricketers from major cricketing nations.
These include Australia, England, South Africa, West Indies, Zimbabwe, Namibia and Ireland, among others.
