Cricket is a religion in India and to some extent the biggest business. But Dream 11 is if anyone works to sell hope to people by combining religion and business. The Dream 11 company has bagged the title sponsorship for IPL 2020 at Rs 222 crore. 222 crore for four and a half months. It also shows the strength of Dream 11 with IPL. So let's find out how Dream 11 is so successful, the reason behind its success, who is its founder and how sports fantasy came to India.
Dream 11- The business of selling hope
It is everyone's dream to become a millionaire overnight. Dream 11 is the way to make these dreams come true. Cricket fans have to choose the dream team of their choice i.e. 11 out of 22 players. And then have to take part in a mega contest. For example, below is a screenshot of a contest. 2 lakh 71 thousand 2 people can participate in this competition by giving 45 rupees. The first one gets Rs 2.5 lakh, the second one gets Rs 1 lakh and the third one gets Rs 75,000. Now the funny thing is that if you don't get ranked in the top-3, it doesn't mean that you lost Rs 45. If your rank is up to 1 lakh 92 thousand 608, you get 45 rupees deposited by you. Which means it's about to be the most delusional time of the year, as well. If you have knowledge about cricket, you will come in the top 70%. And with luck you will become a millionaire. That’s why the people behind Dream-11 are crazy. Apart from cricket, fans can also play football, hockey, basketball, baseball.
What does Dream 11 earn in this?
As mentioned above 2 lakh 71 thousand 2 people will participate. Each will give 45 rupees. So the total amount is 1 crore 21 lakh 95 thousand 90 rupees. Out of this, the company will sell Rs 1 crore to the public and keep the rest for itself. Thus he earns 15 to 20 percent margin in each contest. The current season has 9 to 10 games a day and 5 to 6 such contests are played in each. According to the Economic Times, the revenue of Dream 11 in 2019 was 800 crores. Which was 230 crore in 2018.
Note: This screenshot is of the Caribbean Premier League starting on Tuesday. When there is an Indian or IPL match, about 1 million people participate and the champion gets Rs 50 lakh to Rs 1 crore.
Isn't this called gambling on players?
The fantasy platform protested in 2017 that it was online gambling and should be banned. However, the Indian High Court said that this determines the outcome of the result on the player's analysis skill. In this, users have to decide on the form of the player, pitch and past performance, judgment of various things. So this is legal. And it will not be stopped. He was granted legal status under Article 19 (1) (g).
Dhoni's reach as a brand ambassador increased
Dream 11 had made MS Dhoni a brand ambassador to expand its reach in the market after winning the legal battle. In 2018, Khelo Or Bano Dimag Se Dhoni's campaign was a super hit. Currently, besides Dhoni, 17 cricketers including Rohit Sharma, Jaspreet Bumrah, Hardik Pandya, Shikhar Dhawan are promoting this fantasy sport. The company had 1.3 million users in 2016, which has grown to 1.3 million in 2018 and 80 million in 2020. It is the only sports fantasy company in India with a valuation of over 1 1 billion. A company with a valuation of more than 1 1 billion is called a unicorn.
The biggest pulse point of transparency
The biggest pulse point of Dream 11 over other online games is that it does not have the fear of cheating the general public. From the start of the match you can see and download the team of other competitors. Whether the contest is for 5 people or 5 lakh people, you can download the pdf of all the teams. The game is not available on the Google Playstore, and must be downloaded from the company's site. Google does not play the game with case transactions on its own platform.
About the founders
The founders of Dream 11 are Harsh Jain and Bhavit Seth. Harsh is the son of Jay Corp fame Anand Jain. Let me tell you, Anand Jain's company had a revenue of over Rs 120 crore in March 2020. However, Hersh started the company without taking a single rupee from his multi-millionaire father. So let's start with how the idea for Dream 11 came about.
Idea
Like the personal project of both Harsh and Bhavit, Dream 11 started. Both are big fans of football fantasy leagues. He had to do something similar in India. Harsh was surprised that cricket is so crazy in India but there is no online fantasy league. Especially for the IPL, which started in 2008. Initially, Dream 11 worked like an advertising-based model, but with little success. In 2012 the company decided that instead we would now focus on daily matches and encourage users to play with money. In 2014, the company received its first funding through Kalari Capital. Since then the company started coming into the limelight with more money and more spending power.
Vishal Mishra, who played the role of advisor in Dream 11, said on social media that Hersh was pushing for a million dollar investment. Too many sales people talked for hours on end when he could easily get finance from his father. I asked him why you do this so he told me, "I want to build Dream 11 on my identity and so I don't tell anyone I am the son of Anand Jain."
Users increased 800 times in 6 years
The Dream 11 company continues to grow. In January 2015, Dream 11 had 3 lakh users. This figure was surpassed by 13 lakh users in 2016, 17 million users in 2017 and 50 million users in 2019 and now there are 80 million + users in 2020. "Our target is the mass market game, it also has entertainment and with a low budget, people are not harmed much," Jain said in an interview. The average transaction in Dream 11 is Rs 35. Now, after becoming the official partner of ICC in Dream 11 World Cup, it has also become the title sponsor of IPL.
Investors have a Chinese company, but it is no threat
Dream 11 has investments from Steadview, Kalari Capital, Think Investments, Multiple Equities and Tencente. Tencent is a Chinese company but has less than 10% investment. A person involved in the Dream 11 and BCCI conversation said on condition of anonymity, "Dream 11 did not want to miss this golden opportunity to get new fans. The Chinese company has single digit investment and has nothing to do with the management of the company. Is. "
Dream 11- The business of selling hope
It is everyone's dream to become a millionaire overnight. Dream 11 is the way to make these dreams come true. Cricket fans have to choose the dream team of their choice i.e. 11 out of 22 players. And then have to take part in a mega contest. For example, below is a screenshot of a contest. 2 lakh 71 thousand 2 people can participate in this competition by giving 45 rupees. The first one gets Rs 2.5 lakh, the second one gets Rs 1 lakh and the third one gets Rs 75,000. Now the funny thing is that if you don't get ranked in the top-3, it doesn't mean that you lost Rs 45. If your rank is up to 1 lakh 92 thousand 608, you get 45 rupees deposited by you. Which means it's about to be the most delusional time of the year, as well. If you have knowledge about cricket, you will come in the top 70%. And with luck you will become a millionaire. That’s why the people behind Dream-11 are crazy. Apart from cricket, fans can also play football, hockey, basketball, baseball.
What does Dream 11 earn in this?
As mentioned above 2 lakh 71 thousand 2 people will participate. Each will give 45 rupees. So the total amount is 1 crore 21 lakh 95 thousand 90 rupees. Out of this, the company will sell Rs 1 crore to the public and keep the rest for itself. Thus he earns 15 to 20 percent margin in each contest. The current season has 9 to 10 games a day and 5 to 6 such contests are played in each. According to the Economic Times, the revenue of Dream 11 in 2019 was 800 crores. Which was 230 crore in 2018.
Note: This screenshot is of the Caribbean Premier League starting on Tuesday. When there is an Indian or IPL match, about 1 million people participate and the champion gets Rs 50 lakh to Rs 1 crore.
Isn't this called gambling on players?
The fantasy platform protested in 2017 that it was online gambling and should be banned. However, the Indian High Court said that this determines the outcome of the result on the player's analysis skill. In this, users have to decide on the form of the player, pitch and past performance, judgment of various things. So this is legal. And it will not be stopped. He was granted legal status under Article 19 (1) (g).
Dhoni's reach as a brand ambassador increased
Dream 11 had made MS Dhoni a brand ambassador to expand its reach in the market after winning the legal battle. In 2018, Khelo Or Bano Dimag Se Dhoni's campaign was a super hit. Currently, besides Dhoni, 17 cricketers including Rohit Sharma, Jaspreet Bumrah, Hardik Pandya, Shikhar Dhawan are promoting this fantasy sport. The company had 1.3 million users in 2016, which has grown to 1.3 million in 2018 and 80 million in 2020. It is the only sports fantasy company in India with a valuation of over 1 1 billion. A company with a valuation of more than 1 1 billion is called a unicorn.
The biggest pulse point of transparency
The biggest pulse point of Dream 11 over other online games is that it does not have the fear of cheating the general public. From the start of the match you can see and download the team of other competitors. Whether the contest is for 5 people or 5 lakh people, you can download the pdf of all the teams. The game is not available on the Google Playstore, and must be downloaded from the company's site. Google does not play the game with case transactions on its own platform.
About the founders
The founders of Dream 11 are Harsh Jain and Bhavit Seth. Harsh is the son of Jay Corp fame Anand Jain. Let me tell you, Anand Jain's company had a revenue of over Rs 120 crore in March 2020. However, Hersh started the company without taking a single rupee from his multi-millionaire father. So let's start with how the idea for Dream 11 came about.
Idea
Like the personal project of both Harsh and Bhavit, Dream 11 started. Both are big fans of football fantasy leagues. He had to do something similar in India. Harsh was surprised that cricket is so crazy in India but there is no online fantasy league. Especially for the IPL, which started in 2008. Initially, Dream 11 worked like an advertising-based model, but with little success. In 2012 the company decided that instead we would now focus on daily matches and encourage users to play with money. In 2014, the company received its first funding through Kalari Capital. Since then the company started coming into the limelight with more money and more spending power.
Vishal Mishra, who played the role of advisor in Dream 11, said on social media that Hersh was pushing for a million dollar investment. Too many sales people talked for hours on end when he could easily get finance from his father. I asked him why you do this so he told me, "I want to build Dream 11 on my identity and so I don't tell anyone I am the son of Anand Jain."
Users increased 800 times in 6 years
The Dream 11 company continues to grow. In January 2015, Dream 11 had 3 lakh users. This figure was surpassed by 13 lakh users in 2016, 17 million users in 2017 and 50 million users in 2019 and now there are 80 million + users in 2020. "Our target is the mass market game, it also has entertainment and with a low budget, people are not harmed much," Jain said in an interview. The average transaction in Dream 11 is Rs 35. Now, after becoming the official partner of ICC in Dream 11 World Cup, it has also become the title sponsor of IPL.
Investors have a Chinese company, but it is no threat
Dream 11 has investments from Steadview, Kalari Capital, Think Investments, Multiple Equities and Tencente. Tencent is a Chinese company but has less than 10% investment. A person involved in the Dream 11 and BCCI conversation said on condition of anonymity, "Dream 11 did not want to miss this golden opportunity to get new fans. The Chinese company has single digit investment and has nothing to do with the management of the company. Is. "
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