Dream11 has grown from 2 million users in 2016 to over 20 million in 2018. It holds 90% of the market share with revenues going up from around Rs 83 lakh in FY15 to Rs 62 crore in FY17. Dream11 and the fantasy sport space for ufabet have grown in the lack of regulations.Fantasy sport platforms allow users to act as owners of their own sports teams. On Dream11, player gets 100 credit points to make a team of 11 players in a cricket match. A fantasy team can have players from both the teams and the performance of that virtual team is then based on how the real-life cricketers play in that particular match. Points are then given to the participants for the players’ batting, bowling, fielding, economy rate and strike rate. The virtual team which scores the most points wins the tournament. Depending on the game, there can be a single winner to thousands, where the total money is distributed as per the rank of a team.
But the question is this Sports betting?
Fantasy sport like Ufabet is very much in bed with betting.
Gambling games where the outcome mainly relieson chance is one of the most prohibited and harshly regulated industries in India. Only three places—Goa, Daman & Diu and Sikkim—allow casinos to operate within their jurisdictionn.
Dream11 is also prohibited on the Google Play Store. Then Why has it grown so fast in a country where betting is frown upon? Luck, interest and deep pockets.
Dream11 had a dream run of its own in the last few years. Piggybacking on the growth of the Indian Premier League (IPL), Hotstar and other enabling factors like smartphones and the internet, it has, so to speak, hit it out of the park.
Recent news reports suggest that it might be in talks with Chinese internet firm Tencent Holdings for an investment of $100 million. This could peg Dream11 at a pre-money valuation of $400-$450 million.
“Getting Dhoni was a masterstroke,” says formermanager of fantasy cricket platform .This helps the platform to increase its creditability.
However, Dream11 exists on Apple’s istore, a marketplace, which removed 25,000 illegal gambling apps from its China store after local news reports accused Apple of allowing gambling apps listed as official lottery apps on its platform.
Dream11 sure looks like it’s flourishing without much support from these giants. However, the massive resistance aside, profitability continues to bypass it.
Is Sports Betting Legal?
Is betting legal? Everyone knows that betting is illegal. And sports betting works in the same way. Betting is betting. So, all types of betting are illegal. If the government official knows about the betting, they will surely take a legal action. So it is not safe. So don’t go for this method, if you want to make some real money.