Despite regulatory challenges, fantasy cricket remains a multi-billion-dollar industry, reshaping the sports and gaming landscape in India. The growing influence of Dream11 amid the IPL tournament, has raised concerns about gambling-like behaviour, with critics arguing that it encourages speculative spending among young users.
The exponential growth of fantasy cricket has sparked debate over India’s regulatory policies in stock markets. Experts claim that stringent regulations in the stock market have made it increasingly difficult for retail investors to make money, while online gaming platforms are being aggressively promoted, particularly among the youth.
Finance expert AK Mandhan’s tweet on Monday how Dream11 have surpassed demat accounts in terms of volumes. “Dream11 accounts are now exceeding demat accounts. This is what the government wants in India,” Mandhan tweeted, alleging a deliberate shift in focus from wealth creation through investing to online gaming.
Dream11 has seen exponential growth, fueled by celebrity endorsements and widespread marketing campaigns. With Bollywood and cricketing superstars promoting the app, it has become a household name, especially among young sports enthusiasts.
As per latest available figures, Dream11 has approximately 220 million users in India. This figure reflects a significant growth in the platform’s user base, which has expanded from 150 million to 220 million over the past year.
In contrast, the total number of demat accounts in India has reached approximately 185 million as of early this year.
Mandhan suggests that while the government has introduced various regulations to curb excessive speculation in stock markets, it has not imposed similar restrictions on online gaming. “They have put a lot of regulations in stock markets to make it impossible to make money,” he wrote. “They are making every possible move to shift youths to online gaming by promoting Dream11 with all the superstars.”
The claim has sparked a broader discussion about financial literacy, responsible investing, and the role of online gaming in India’s economy. While the stock market remains an avenue for wealth creation, the growing popularity of fantasy sports raises concerns about gambling-like behavior among young Indians.
The government, however, maintains that its regulations are aimed at ensuring transparency and investor protection in financial markets.
