&imwidth=800&imheight=600&format=webp&quality=medium "Dream11 lost 95 per cent revenue due to online gaming ban. Will it lay off staff? CEO Harish Jain says...")
Dream Sports, the parent company of fantasy sports giant Dream11, is facing one of the biggest crises in its history after India’s new online gaming law wiped out nearly all of its revenue. But in a strong message to employees, CEO and co-founder Harsh Jain has assured that there will be no layoffs despite the staggering losses. The Promotion and Regulation of Online Gaming Bill, 2025, banned real-money games across the country. For Dream11, whose business was built around paid fantasy contests, the move proved devastating. Jain admitted that the company’s revenue plunged by 95 per cent overnight, with profits completely erased.
Also Read: Donald Trump's tariff: What will happen to Apple's Made-in-India iPhone supply to the US?
‘No job cuts’
While industry speculation pointed towards mass layoffs, Jain rejected the idea firmly. “We’re not interested in doing any layoffs. All the talent here is safe,” he told employees, adding that the company has a two-year cash runway to protect jobs. “If we lay off talent, we should shut down,” he said.
Instead of shrinking its workforce, Dream Sports has begun a major shift in strategy. The new plan—branded as Dream11 3.0—focuses on:
- Expanding free-to-play fantasy formats
- Building revenue through advertising
- Exploring AI-driven tools, content, gaming studios, fintech, and live sports experiences
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The company will, however, cut back on marketing and sponsorship spends to conserve resources. Employees from the real-money gaming division are being redeployed into these new projects. Jain described himself as a “delusional optimist,” saying Dream Sports has enough capital to rebuild. Importantly, the company has decided not to challenge the government’s ban in court, choosing instead to pivot and adapt. For now, Dream11’s real-money contests are gone, but the platform continues in a free-to-play format. Whether the company can reinvent itself successfully will determine if it remains a key player in India’s sports-tech ecosystem.
