Dream11 has become India’s biggest fantasy sports hit. The company is worth $8 billion right now, that’s ₹65,000 crore in 2025. This puts it among India’s most expensive startups.
Dream Sports owns Dream11. The guys who started it are Harsh Jain and Bhavit Sheth. They kicked this off back in 2008. Now, Dream11 has more than 250 million people using it in India, with around 10 million playing daily.
In September 2025, Dream11 shut all its paid fantasy contests after a nationwide ban on real-money gaming. The platform has now switched to a free-to-play model powered by ads and brand-sponsored contests, yet its valuation remains strong at $8 billion.
Here’s what you should know about India’s top fantasy sports app.
Sources: BusinessToday
What Is The Value Of Dream11? (2025)
Dream11 is worth $8 billion in 2025. That’s about ₹65,000 crore in Indian money. They got this price tag after Dream Sports raised $840 million back in November 2021.
The company made ₹6,580 crore in FY23. Their profit was ₹187.8 crore that same year. These numbers look pretty good for business.
Let’s break down what these mean. Valuation is what investors think the company is worth. Revenue is all the money they bring in. Profit is what’s left after paying all the bills.
Dream Sports runs Dream11 as the main company. This ₹65,000 crore valuation reflects investor confidence before the nationwide ban on real-money gaming announced in September 2025.
Following the ban, Dream11 has pivoted to a free-to-play, ad-supported model. While its massive 250 million user base remains intact, the company’s future valuation may change as the new business model matures.
Sources: Revsportz, TheKredible
What Is Dream11? India’s Leading Fantasy Sports Platform
Harsh Jain and Bhavit Sheth started Dream11 back in 2008. It’s an online fantasy gaming site. You can play cricket, football, kabaddi, and tons of other sports.
Dream11 basically started the fantasy sports craze in India. They were the first company in this space to hit unicorn status. Dream11 pulled this off with some smart marketing moves.
Dream11’s biggest play was sponsoring the IPL. This got them in front of millions of cricket fans. Getting celebrities to promote them also helped build the Dream11 brand big time.
Right now in 2025, Dream11 has more than 250 million registered users in India, with around 10 million playing daily. After the nationwide real-money gaming ban in September 2025, the platform shifted to a free-to-play, ad-supported model but continues to lead the fantasy sports market with its massive user base.
Sources: UnicornOfIndia, BusinessOutreach, BusinessToday, AWS
Who Owns Dream11?
Dream Sports is Dream11’s parent company. It’s based in India and oversees all operations. The company has attracted major global investors over the years.
Key investors include Tiger Global, Steadview Capital, and Kalaari Capital. TPG and other prominent funds have also invested. These investors show confidence in Dream11’s business model.
The founders and employees together hold about 40-45% combined stake. This means Harsh Jain and Bhavit Sheth still have significant control. The remaining stake belongs to various investors.
What Is Harsh Jain Net Worth? 2025
Harsh Jain is the CEO and co-founder of Dream11. He has an Ivy League education background. Jain is known for his leadership skills and vision.
His estimated net worth is around ₹5,500 crore. This wealth comes from his ownership stake in Dream Sports. Jain is also known for his media presence.
He actively promotes responsible gaming practices. Jain often speaks about the skill-based nature of fantasy sports. His leadership has been crucial to Dream11’s success.
Dream11 owner income per day: Based on his net worth, Harsh Jain’s daily income from his stake could be estimated in crores, though exact figures aren’t public.
Dream11 owner income per month: Similarly, his monthly income from the business would be notable, given the company’s profitability and growth.
What Is Bhavit Sheth Net Worth?
Bhavit Sheth is the co-founder and COO of Dream11. He focuses on the technical and operational aspects. Sheth has a strong background in technology.
His net worth is estimated between ₹1,000 and ₹1,500 crore. This comes from his ownership stake in the company. He’s recognized as a successful entrepreneur.
Sheth has won awards for operational excellence and innovation. He works behind the scenes to ensure smooth platform operations. His technical expertise has been vital for Dream11’s growth.
Sources: DreamSports, BusinessToday, Youstory, GutShot
Is Dream11 Profitable? Financial Growth
Dream11 has shown consistent financial growth over the years. Here’s their revenue and profit data for the past four recorded years:
| Financial Year | Revenue (₹ crore) | Profit (₹ crore) |
|---|---|---|
| FY20 | 2,000 | 180 |
| FY21 | 2,210 | 329 |
| FY22 | 3,841 | 143 |
| FY23 | 6,384 | 188 |
Dream11’s FY23 earnings hit ₹6,384 crore, and they made a profit of ₹188 crore. The year before, FY22, they earned ₹3,841 crore with ₹142 crore profit. The money coming in keeps growing.
But their expenses in FY23 were ₹5,839 crore. Just paying employees costs them ₹1,154 crore. That shows they’re spending big on hiring good people.
Their profit margins got better, though. EBITDA margin went from 9% in FY22 to 12.8% in FY23. Over 5 years from FY18 to FY23, their revenue grew about 52% every year. That’s solid growth.
Dream11 has some headaches with higher GST taxes and spending more on promotions. But they still make good cash flow and keep hitting their targets.
Note: These figures represent Dream11’s performance before the nationwide real-money gaming ban in September 2025. The shift to a free-to-play, ad-supported model has significantly altered its revenue structure, and updated earnings for the new model are yet to be reported.
Sources: Inc42, EcoTimes, EcoTimes, StartUp News, FinancialExpress
How Does Dream11 Earn Money?
Dream11 made most of its revenue from paid fantasy contests until September 2025. Players paid entry fees to join contests, and Dream11 kept a commission from each pool. This model helped the company reach ₹6,384 crore in revenue in FY23.
Main ways they earned before the ban:
- People paid entry fees to join contests, and Dream11 kept 15–25% of the prize pool
- Big sponsorship deals with IPL and BCCI
- Sports advertising and brand tie-ups during live tournaments
- FanCode revenue from subscriptions, streaming, and selling merchandise
- Extra charges for premium features and transaction fees
Main ways they Are Earning After the ban:
After the nationwide real-money gaming ban in September 2025, Dream11 shut all paid contests and pivoted to new sources:
- Brand-sponsored free contests that replaced paid entry fees
- In-app advertising and sponsorship tie-ups with brands like Swiggy, Astrotalk, and Tata Neu
- Continued sports partnerships with IPL promotions and BCCI deals
- FanCode earnings from subscriptions, live sports streaming, and merchandise
This shift from entry-fee revenue to ads and brand sponsorships marked a major change in Dream11’s income model, though its massive 250 million registered users and 10 million daily active players continue.
Sources: DreamSports, BusinessScroll, TradeBrains
Why Is Dream11 So Popular?
Dream11 runs the show in India’s fantasy sports world because it’s way bigger than everyone else. Let’s see how they stack up against their main rivals:
| Platform | User Base | Prize Pools | Sports Coverage | Market Position |
|---|---|---|---|---|
| Dream11 | 220+ million | Highest | 10+ sports | Market leader |
| My11Circle | 50+ million | Medium | 5+ sports | Second largest |
| MPL | 90+ million | Medium | 8+ sports | Multi-gaming focus |
Dream11 clearly beats everyone else in users and prize money. They also cover way more sports than the competition.
Why people love Dream11:
- They got into fantasy sports first in India and stayed on top
- Exclusive IPL deals and title sponsorships
- Big celebrity ads and marketing everywhere
- Their app never crashes, and the games are fair with the help of AI
- Biggest cash prizes, which pull in more players
Their tech actually works without problems. When your app doesn’t crash during big matches, people trust you more.
Sources: DataBricks, InstaClustr, OrangeOwl, Dreamsports, ThirdEye
Why Is Dream11 Not Illegal?
The Supreme Court ruled in 2021 that fantasy sports are “games of skill,” not gambling. This legal clarity helped Dream11 operate freely in most states for several years. The skill-based classification was a key factor in its growth.
Dream11 was fully legal in most Indian states, though it was banned in Andhra Pradesh, Telangana, Assam, Odisha, Sikkim, and Nagaland because of stricter local gaming laws.
In September 2025, Parliament passed a nationwide law banning online games involving real money. This new rule forced Dream11 to shut down all paid fantasy contests and switch to a free-to-play, ad-supported model to comply with the regulations.
GST authorities have also served Dream11 with large tax claims, and some legal and regulatory disputes are still ongoing. The company continues to fight these cases in court while operating within the new framework.
Dream11 actively promotes “responsible gaming” practices. They continue to offer user safety measures and self-exclusion options, demonstrating a commitment to ethical and compliant operations under the new law.
Sources: Alhawat Associates, TheBridge, Inc42, TOI, Dream11
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Conclusion: Dream11 Is Valued At ₹65,000 Crores or $8 Billion!
Dream11 has built an impressive business worth ₹65,000 crore. The founders, Harsh Jain and Bhavit Sheth, have created India’s fantasy sports leader. Their net worth reflects this success story.
The company is now adapting to a free-to-play, ad-driven model after the real-money gaming ban, but its massive audience of 250 million users continues to support its high valuation.
For investors and users alike, Dream11 still represents the potential of India’s gaming market. The platform has transformed how Indians engage with sports and remains one of the country’s most valuable startups.
Ready to join India’s biggest fantasy sports platform? Start your Dream11 journey today!
FAQs
Currently, Dream11 has more than 220 million registered users in 2025. The platform adds millions of new users every year across different states in India.
Players must be 18 years or older to use Dream11. The company verifies age during registration to comply with Indian gaming laws and regulations.
Dream11 uses multiple security layers to protect user data and financial transactions. The platform follows responsible gaming guidelines and provides safety tools for users.
Users need to submit ID proof, address proof, and PAN card documents for verification. This process helps secure transactions and meet legal compliance requirements in India.
Dream11 has no direct ownership connection to Mukesh Ambani. However, Reliance Jio maintains business partnerships with Dream11 for promotional campaigns and user acquisition strategies.
