Dream11 Shuts Paid Games, Shifts to Free Play

India’s online gaming industry has been on a rapid growth trajectory, with the sector valued at $3.7 billion in 2024 and projected to touch $9.1 billion by 2029 at a CAGR of nearly 19.6%. The country has already attracted $3 billion in FDI in gaming over the last five years, and with 1,888 gaming startups, India has established itself as one of the fastest-growing gaming ecosystems globally.

However, the recent passage of the Promotion & Regulation of Online Gaming Law, 2025 has disrupted the industry by banning real-money online games, including fantasy sports. Following this development, Dream11, India’s largest fantasy sports platform, has confirmed that it will shut down all paid contests and shift to a free-to-play format.

Dream11 Officially Confirms Paid Fantasy Game Shutdown

Just a day after speculation surfaced, Dream11 made an official announcement on Friday, confirming that it has halted all paid fantasy contests on its platform. The company declared the move in a post on X (formerly Twitter), stating:

“This morning, we stopped all paid contests on Dream11 and pivoted entirely to a free-to-play online social game. … We respect the law and will fully comply with the Promotion & Regulation of Online Gaming Law, 2025. See you in our second innings.”

This marks a major turning point not just for Dream11 but for the entire Indian fantasy sports industry, which has relied heavily on real-money gaming (RMG) formats for revenue.

Why Did Dream11 Take This Step?

The decision directly follows the sweeping ban on real-money games, which earlier enjoyed legal protection as “games of skill” under Indian courts. With the new law in place, real-money fantasy contests are now outlawed, leaving platforms like Dream11 with no option but to adapt.

This legislation aims to curb addiction, protect users from financial losses, and regulate gaming in a structured way. While the move has sparked debate in the gaming industry, companies have no choice but to comply.

Dream11’s Journey So Far

Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream11 revolutionized India’s fantasy sports market. Over the years, it grew to a massive user base of 280 million and reported ₹9,600 crore in FY24 revenue, largely driven by fantasy sports contests with entry fees.

Dream Sports, the parent company of Dream11, has been one of India’s most valuable consumer tech firms, last valued at $8 billion in 2021. The company boasts marquee investors like Tiger Global and Multiples, and its brand presence has been amplified through IPL sponsorships and partnerships with Team India.

Dream11 wasn’t just a fantasy sports app; it had become a household name in cricket-loving India, symbolizing the growth of online gaming in the country.

Pivot to Free-to-Play and Other Ventures

With the ban on paid fantasy games, Dream11 is now shifting its focus to free-to-play formats and non-monetised business verticals. These include:

• FanCode – A sports streaming and merchandising platform.

• DreamSetGo – A sports tourism and travel venture.

• Dream Game Studios – A gaming development studio focused on creating original titles.

This pivot will help Dream11 stay relevant while building engagement without real-money stakes.

What’s Next for Users?

For millions of Dream11 users, the key question now is: what happens to their money and accounts? The industry awaits clarity on three major issues:

1. Transition Period – How long companies like Dream11 will take to fully wind down paid formats.

2. Refund of User Funds – Users who had money parked in escrow accounts will need assurances and a clear refund process.

3. Future Oversight – Whether the government will appoint a regulatory body to supervise the shutdown and guide companies toward alternate formats like esports, casual, and social gaming.

Until these details are finalized, players and investors alike remain in a state of uncertainty.

Impact on India’s Gaming Industry

Dream11’s pivot signals a larger industry reset. With RMG formats banned, companies will need to innovate around esports, advertising-driven free-to-play games, and gamified social platforms.

While the law may restrict revenues in the short term, it could also open doors for sustainable, regulated growth, reducing risks around addiction and money laundering.

India’s gaming future now lies in innovation, partnerships, and global expansion—and Dream11’s second innings could set the tone for the industry’s new chapter.

Conclusion

The shutdown of Dream11’s paid fantasy contests marks the end of an era in India’s online gaming history. From being the largest fantasy sports platform with 280 million users to now pivoting toward a free-to-play model, Dream11 has shown its intent to adapt and survive in a changing regulatory environment.

With nearly $9.1 billion in industry potential by 2029, the next phase of India’s gaming growth may be defined not by money stakes but by engagement, innovation, and responsible play.