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Indian sports betting platform Dream11 is launching in 11 new markets, including the US and the UK, as it pursues international expansion following a ban on money-based online gaming in its home market.
Key Details:
- Dream11 to launch fantasy games based on soccer, cricket and other sports
- Service will also launch in Australia, New Zealand, Bangladesh, Sri Lanka, Nepal, Malaysia, the UAE, Canada, and South Africa
- Company has more than 250 million players globally
Context:
Dream11 made its name in fantasy sports before expanding into ‘real money gaming (RMG)’, spearheading an industry that comprised more than 400 startups and employed 200,000 people. Dream 11 was also a major sponsor, partnering with the Indian Premier League (IPL) and the Indian national cricket team among other properties.
At one point, Dream11 was valued at US$8 billion. However its prospects have been severely damaged by a blanket ban on RMG by the Indian government, which is concerned about the social damage caused by betting.
It remains to be seen whether the industry will be successful in attempts to find a resolution. Until then, Dream11 is looking to push into other markets and make the most of its other investments in sports-related technology.
In the US it will have to compete with established daily fantasy platforms like DraftKings and FanDuel, while the UK is also served by numerous bookmakers and fantasy games. Dream11 does, however, believe the UK fantasy sports market will be worth US$3 billion by 2030 and will be eager to secure a considerable share.
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