Research Study on Dream11 - GRM Institute

Research Study on Dream11

Dream 11

By Kartik Pillai, PGDRM July’21-22



Fantasy Sports

What motivates fantasy sports players?

Winning- Most players love the idea of getting awarded for playing. The chance of winning money using a skill is appealing.

Social Interaction- Fantasy sports are seen as a way to interact with colleagues, college friends, family and friends. The idea of having fun collectively motivates players.

Competition- The fantasy sports players are competitive in general, their leading reason for being there in the first place. They are driven by the need to be the best in the eyes of their competitors.

Entertainment/Escape- This is a leading psychological factor among fantasy sports players. They are mostly career-oriented or with full-time jobs and see fantasy sports as a way to escape from work or life-related stress.

Dopamine- Fantasy sports boost dopamine just like any other social media interaction or any drug.

(Source: CNN/Psychology Today)


Dream11 is an Indian fantasy sports platform that allows users to play fantasy cricket, hockey, football, kabaddi, and basketball.

• In April 2019, Dream11 became the first Indian gaming company to become a unicorn.

• Dream11 was co-founded by Harsh Jain & BhavitShethin 2008.

• In 2012, they introduced freemium fantasy sports in India for cricket fans.

• In 2014, the company reported 1 million registered users, which grew to 2 million in 2016 and to 45 million in 2018.


Company Highlights



How does Dream11 work?

For a given match, there are many contests. Few are free and few paid.

• For every contest you enter, you create a team.
• The entry fee for a paid contest usually ranges between ₹30-60 ($0.4-0.8).
• Dream11 lets 50% of the participant pool win prizes, with the largest share of the cash prize going to the top-ranked and a smaller share going to lower ranks.
• Unlike a lottery, your odds of winning on Dream11 is 50% thus resulting in high participation
• Minimum withdrawal amount of ₹200, a strategy to keep the user coming back
• Dream11 keeps 15% of this amount as a “platform fee” and the rest is distributed as prize money.









Image Source: Medium


Investor Valuation


Image Source: The Times of India


Marketing with the help of clever tap


Some of the Key Risks

• Regulation Issues & Concerns
• Privacy & Data breach issues (PII)
• Risk from competitors & other market players
• Consumer spending habits –Not necessary expense
• Cross-Cultural conflicts
• Hacker’s Threat -Gaming the system to their advantage
• Accessibility Issues
• Risk associated with online payment platform
• Handling High-Risk Country Card monitoring (HRCC)
• Foreign Exchange fluctuations


Get the full research here: DREAM 11



This report has been produced by students of Global Risk Management Institute for their own research, classroom discussions and general information purposes only. While care has been taken in gathering the data and preparing the report, the student’s or GRMI does not make any representations or warranties as to its accuracy or completeness and expressly excludes to the maximum extent permitted by law all those that might otherwise be implied. References to the information collected have been given where necessary.

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