Online Sports Bill: Dream11 CEO opens up about the impact- '95% of revenues disappeared...'

Dream11 CEO Harsh Jain had dropped a massive hint on layoffs days after Parliament passed the Promotion and Regulation of Online Gaming Bill, 2025.Fantasy sports giant Dream11 has intimated to the BCCI that it won't be able to continue with the title sponsorship of the Indian cricket team as the revenue stream is going to get hit badly.Dream11 has a 2023-2026 contract worth USD 44 million (Rs 358 crore) for being the title sponsor of the Indian cricket team.The Dream11 logo is printed on the jerseys of the Indian players. It is also the sponsor of several Indian Premier League franchises. Dream11 is also the official fantasy partner of the Indian Super League.“95 per cent of Dream11's revenues have disappeared overnight, and 100 per cent of our profits…,” Dream11 CEO Harsh Jain told Moneycontrol on Monday.However, Jain maintained that there won't be any layoffs."We are not interested in doing any layoffs. All the talent here is safe," Jain said.While the new bill allows social gaming and subscription-based use, the ban on real money gaming means that the biggest chunk of their revenue stream is done away with.In a recent statement issued after the law was passed in the Upper House of Parliament, Dream11 stated: "We have always been a law-abiding company and have always conducted our business in compliance with the law. While we believe that progressive law would have been the way forward, we will respect the law and fully comply with the 'Promotion and Regulation of Online Gaming Bill 2025'."Dream11 is also the official partner of the Caribbean Premier League and sponsors Australia's Big Bash League.The gaming ban impacts platforms for card games, poker, and fantasy sports, including India's wildly popular homegrown fantasy cricket apps.The government said the rapid spread of gambling platforms had caused widespread financial distress, addiction, and even suicide among the youth.It also said it was linked to fraud, money laundering, and terrorism financing.