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Setback For BCCI; Dream11 Reportedly Pulls Out As India Sponsor Before Asia Cup

Debashis Sarangi

Dream11 likely to withdraw as India sponsor [Source: @PunnyBhaiya, @beatsinbrief/X]Dream11 likely to withdraw as India sponsor [Source: @PunnyBhaiya, @beatsinbrief/X]

In a massive development, leading fantasy sports platform Dream11 has reportedly considered withdrawing as the sponsor of the Indian cricket team. The development comes after the Indian Government's recently proposed bill related to the promotion and regulation of online gaming. 

Team India To Lose Dream11 As Sponsor Before Asia Cup: Report

Recently, the Indian Government passed the Promotion and Regulation of Online Gaming Bill in both houses of its parliament. The bill proposes a ban on several platforms that generate most of their revenue from real-time paid online gaming. This was a huge financial setback for Dream11, which had grown leaps and bounds as the leading fantasy sports platform in the country. 

Although the platform can still bounce back to the mainstream by amending its existing strategy and modifying its online gaming into a social skill-based activity, the financial constraints due to the scrapping of the real-time gaming have apparently made it incredibly tough for Dream11 to continue as the primary sponsor of the Indian cricket team. 

As reported by NDTV, Dream11 is unlikely to sponsor Team India, with the BCCI likely to invite fresh bids for India's sponsorship rights. 

"As per sources, Dream11 has backed out of the Asia Cup as Team India’s title sponsor. Sources told NDTV that after Dream11’s withdrawal, the BCCI will invite bids soon," the report stated. 

Dream11 bagged India's sponsorship rights by signing a lucrative deal worth INR 358 Crores with the BCCI in 2023. 

Recently, BCCI secretary Devajit Saikia opened up on the possibilities of Dream11 sponsoring the Indian cricket team in the Asia Cup, saying they will abide by the laws set by the Indian Government and indicating they won't help out the platform in this matter.