Dream11 shifts focus, launches new venture post gaming ban

New Delhi (The Uttam Hindu): Dream Sports, the parent company of the popular gaming platform Dream11, is now going to enter the financial services sector. According to sources, the company is testing a new app called 'Dream Money', which will be launched under the 'Dream Suite Finance' brand. This step has been taken after the government banned all money-based online games this week.

What is 'Dream Money' app?

According to media reports, the 'Dream Money' app is currently in the testing phase and has not been officially launched yet. The information given on the Google Play Store states that this app will provide financial services to users like buying gold for a minimum of Rs 10 and making fixed deposits (FD) from Rs 1000. This app has been released by Dream Sports' unit 'Dreamsuit', which is promising to launch 'seamless financial services' soon on its website.

Why did you have to change the business model?

This strategic change comes after the government's decision to ban all online games played with money. Parliament passed the related bill in Rajya Sabha on Thursday this week without debate. The government believes that online money gaming has become a serious social and public health problem. Due to this ban, Dream11 has had to shut down all its money-based games.

However, the government is pushing to promote e-sports and social gaming to make India a global hub for game development. Despite the ban, Dream Sports will continue to operate its other businesses such as sports experience platform 'Dream Set Go', ticketing platform 'Fancode' and game development unit 'Dream Game Studios'.