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The Punjab & Haryana High Court had upheld that Dream11 reasoned that games of “mere skill” do not fall within gambling and betting, and that success in Dream11 comes from a “user’s. Play with over 9 Crore Dream11 users in public contests or create your own private contest Chat with friends on Groups and challenge them to contests Invite others and earn Rs.100 Cash Bonus for each friend that joins Scan the QR Code to download the app. Dream11 is restricted in the states—Assam, Odisha, Telangana and Sikkim due to their strict gambling laws. There are three traditional elements of gambling— consideration, price and chance. Home » Gambling » Dream11 enters unicorn club as Steadview Capital invests 10 Apr 2019 sebbe Leading fantasy gaming website Dream11 has entered the unicorn club (startups with over $1 billion valuation) with news reports confirming last month’s speculations that London-based Alternative Asset Manager fund Steadview Capital has invested.
“It can be seen that success in Dream11’s fantasy sports depends upon user’s exercise of skill based on superior knowledge, judgment and attention,” the bench said.The Bombay High Court recently held that Dream11 Fantasy game “is undoubtedly a game of skill and not a game of chance” and it does not amount to gambling.
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Calling the entire case of the petitioner “untenable, misconceived and without any merit”, the bench said, “It can be seen that success in Dream11’s fantasy sports depends upon user’s exercise of skill based on superior knowledge, judgment and attention, and the result thereof is not dependent on the winning or losing of a particular team in the real world game on any particular day.”
The petition was moved by Advocate Gurdeep Singh Sachar seeking directions to initiate criminal prosecution against ‘Dream11 Fantasy Pvt Ltd’ for allegedly conducting “illegal operations of gambling/betting/wagering” in the guise of Online Fantasy Sports Gaming, attracting penal provisions of Public Gambling Act.
“It is undoubtedly a game of skill and not a game of chance”, the bench added. The court also found no merit in allegations of Goods and Services Tax (GST) evasion by Dream11.
The bench observed, “Since the Online Fantasy Sports Gaming of respondent No.3 (Dream11 Fantasy Pvt.Ltd) are not gambling services, the respondent No. 3 is not in error in paying GST under this entry for its online gaming activities, by paying applicable GST @ 18%.”
The petitioner had argued, “These fantasy games are nothing but means to lure people to spend their money for quick earning by taking a chance, and most of them end up losing their money in the process, which is thus gambling/betting/wagering, being different forms of ‘gambling’.”
The bench also observed, “The petitioner has lost sight of the fact that the result of the fantasy game contest on the platform of respondent No.3, is not at all dependent on winning or losing of any particular team in the real world game. Thus, no betting or gambling is involved in their fantasy games.”
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Dream11 has been named as the title sponsor of the Indian Premier League (IPL) for the upcoming 2020 season.
The online fantasy gaming platform won the rights after bidding INR 222 crore ($29.7m approx.) and will replace Chinese mobile phone manufacturer Vivo, who withdrew its sponsorship in response to the border dispute between India and China.
Vivo had sponsored the leading Twenty20 cricket league since 2016, with its contract running until 2022 but it’s not yet clear whether Dream11 will remain as title sponsor beyond this year’s edition, which is to take place in the UAE from 19 September.
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IPL chairman Brijesh Patel, said: “Dream11 as a fantasy sports brand will only grow the engagement of the IPL with its fans. As a digital brand it will give them leverage to create exciting online engagement for fans sitting at home and watching the matches. We look forward to delivering great value to Dream11.”
Dream11 co-founder and CEO Harsh Jain, added: “Being a proud homegrown Indian brand that is made in India, by Indians and exclusively for Indian sports fans, we would like to thank the BCCI for giving us an opportunity to become the title sponsor of IPL, which in our opinion is the world’s greatest sports property.”
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Dream11 has been the Board of Control for Cricket in India’s (BCCI) official partner of the IPL since 2018 and made its debut as a title sponsor last year, partnering with New Zealand’s 2019/20 Super Smash T20 league.
In 2019, the fantasy sports site became the first Indian gaming company to enter the ‘unicorn club’, after being valued at more than $1bn.