New Delhi7 minutes ago
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After the ban on online money gaming, Dream Sports, the parent company of the Indian cricket team’s lead sponsor Dream 11, has launched a new personal finance app today (23 August). This dream money app will work as financial management.
App will help users in investing in fixed deposits (FD) and digital gold. Also, it will help in tracking the investment along with keeping the account of daily expenses.
The app is currently in beta testing and is available for limited users on Google Play Store and Apple app store. India’s largest fantasy gaming company has taken this step after the online gaming bill 2025 law was enacted.
Online real money games have been completely banned under this law. Due to this, the largest fantasy gaming platform in India has to leave the sponsorship of the Indian cricket team.
Company shutting down real money gaming business
The new law banning online money gaming has a direct impact on platforms like Dream 11. Under this bill, promotion of real money gaming, promoting it or putting money in it can lead to a penalty of up to Rs 1 crore.
Because of this, Dream 11 had to change its strategy and on Friday (August 22), the news came that the company is going to shut down its real money gaming (RMG) business. Dream Sports gave this information to its employees on August 20 at an internal townhall meeting. Not only this, the company may have to give up the sponsorship of the Indian cricket team.
Dream 11, which was known for fantasy sports such as cricket, football and kabaddi, now wants to further strengthen its reach by landing in the fintech sector. The company believes that they already have the trust of millions of users and now they want to convert this trust into financial services.
The interface of the dream money app will look like this …
Dream Money features
- Investment in Digital Gold: Through the Dream Money app, users can start a systematic investment plan (SIP) in digital gold from just Rs 10. This option is special for those who want to start investing with small amounts.
- Fixed Deposit: It also has an option to invest in fixed deposits from Rs 1000, that too without a bank account. That is, if you do not have a bank account, you can still invest in FD.
- Accounts of expenses: The app has a special feature, through which you can track your everyday expenses in the app. This will help you in your financial planning.
- Investment Tracking: Investments like shares, mutual funds and ETF (Exchange Traded Funds) will be facilitated to monitor the same place.
- AI Advisor: This feature understands your investment and gives you the right advice, so that you can take better decisions.
- Security: Users’ investment will also get an insurance cover of up to Rs 5 lakh, which makes it reliable and safe.
App can become an app for the company
The Dream Money app can become a new revenue source for the company, as their earnings have been affected due to gaming ban. At the same time, one can connect millions of users with financial products, who were first associated with Dream 11 for Gaming. However, some experts believe that due to this ban, people can also go towards illegal gaming platforms, which can promote the black market.
Two big challenge in front of the company
- The Dream Money app may face many challenges in the early stages. The Fintech sector already has several big names such as Paytm, Phonpe, and Jerodha platforms. In such a situation, Dream Money has to do something special to make its place.
- Also, there is still a legal battle in the industry regarding gaming ban. Many gaming companies are preparing to challenge this ban in court. If there is any relief on this ban, Dream 11 can run its gaming and fintech business together.
Indian market big personal finance app
|
Fintech App/Company |
Service |
Market value (billion dollars) |
|
Paytm |
Digital payments, wallets, and loan services |
5-6 |
|
PhonePe |
UPI-based payments and financial services |
10-12 |
|
Zerodha (zerodha) |
Stock Trading and Investment Platform |
2-3 |
|
Growww |
Investment and Trading App |
2-3 |
|
Crede (Cred) |
Credit score and payment management |
6-7 |
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