Dream11's parent company, Dream Sports, is entering the financial services sector after the ban on online money gaming. The new app, Dream Money, will offer gold purchases starting from ₹10 daily and fixed deposit (FD) services starting from ₹1000. The company's other non-gaming services will continue as before.
Dream11: Following the ban on online money gaming, Dream11's parent company, Dream Sports, has stepped into the financial services sector. The company will now provide gold purchases starting from ₹10 daily and FD services starting from ₹1000 through the Dream Money App. This move comes after the government's ban on money-based online games. Simultaneously, Dream11's other non-gaming services, such as sports and travel platforms, will continue as before.
New Business Model
The Dream Money App will include gold purchases starting from ₹10 daily and fixed deposit (FD) services starting from ₹1000. This platform will be issued by Dreamsuit, a unit of Dream Sports. According to sources, Dream Money has been operating under a pilot project for the past few months. However, it has not yet been launched for the general public.
Through Dream Money, the company aims to extend the benefits of financial services to small investors as well. The app's design and functionality are such that users can easily buy gold and invest in safe investment options like FDs.
Status of the Old Business Model
Dream Sports has discontinued online money gaming, but its other business operations continue. Dream Set Go (a sports event ticketing service), FanCode (a merchandise platform), Dream Game Studio, and the non-profit organization Dream Sports Foundation are active under Dream Sports. Through these platforms, the company continues to provide sports and travel-related services.
According to the Dreamsuit website, Dream Suit Finance will be introduced with the aim of providing 'seamless financial services'. The company aims to allow users to avail themselves of easy and secure financial services.
Ban on Online Money Gaming
Parliament recently passed a bill in the Rajya Sabha to ban online money gaming. The government described it as a serious social and public health problem. The Center clarified that online games played with money have a negative impact on society. Meanwhile, the government is striving to promote e-sports and online social gaming.
The government's objective is to make India a global center for sports development. Under this, online money gaming has been controlled, but social and recreational gaming platforms will be encouraged.
Dream11 Steps into the Finance Sector
Dream11's new strategy includes expanding into the financial services sector. The company aims to provide safe and simple investment options to small investors and the general public through the new app. According to sources, after the launch of the Dream Money app, the company may gradually introduce its other financial products as well.
Experts say that this plan to enter the finance sector from gaming could be beneficial for Dream Sports in the long term. It will provide new opportunities for investors and a new business model for the company.
