Dream11 launches stock broking platform to replace real-money gaming
Business
Dream11, best known for fantasy sports, is now stepping into the financial world with its new platform, Dream Money.
After India's Online Gaming Bill caused a huge hit to their revenue, Dream11 is shifting gears—offering stock broking and wealth management instead of just games.
After seeing a massive 95% drop in revenue earlier this year
Dream Money will compete with big names like Zerodha and Groww, hoping to turn some of its 260 million users into first-time investors.
Even though retail participation in stocks has surged lately, only about 1 in 12 Indians actually invest.
After seeing a massive 95% drop in revenue earlier this year, Dream11 stopped real-money gaming and switched to free-to-play games supported by ads—now they're hoping finance is their next winning move.