'99% of our users never won more than...': Dream11 co-founder after Centre bans online money gaming

Days after the Centre banned online money gaming, Dream11 co-founder and CEO Harsh Jain made a huge claim regarding his users. Jain stated in a recent interview that one cannot play fantasy sports anytime they want, as it has to be based on a real-life match. 

He said that fantasy gaming has had tiny ticket sizes from its advent in India. Jain claimed that a lion's share of Dream11's user base never won or lost more than ₹10,000. 

"Our ticket sizes were always very small. So, our ticket sizes were, on average, about ₹51 or ₹52. And 99 per cent of our user base had never won or lost more than ₹10,000 in their lifetime. It, very much, was the popcorn to your movie," the Dream11 co-founder said in an interview with Moneycontrol. 

He added that it was very much like an engagement tool for sports enthusiasts. Jain also mentioned that regulation is the only way to solve the problems that the gaming industry is facing, adding that banning anything creates black markets.

"Tamil Nadu has recently launched regulations where they had time limits, KYC, money limits. I think that would make sure that the good operators continue, make sure that the games are meant for engagement and fun and don't cross limits which create problems for people and the government will continue to get its $2-3 billion of tax revenue. And it wouldn't give rise to a larger black market," he explained. 

He also said that Dream11 is going to abide by the new law and won't challenge it. Jain mentioned that his company is going to focus on the future, which is in sports AI as well as strengthening the creator economy. 

Soon after the Promotion and Regulation of Online Gaming Bill, 2025, was passed in Parliament, key platforms such as Dream11 and My11Circle suspended operations.

Dream11 confirmed, "As per The Promotion and Regulation of Online Gaming Bill, 2025, cash games and contests have been discontinued on Dream11." Mobile Premier League stated, "Effective immediately, we are suspending all gaming offerings involving money on the MPL platform in India." They assured users that withdrawals remain seamless.

Moonshine Technologies, related to Nazara Technologies, also halted operations "pursuant to the Promotion and Regulation of Online Gaming Bill, 2025." Zupee and Rummyculture also ceased cash games.