Dream Money, a new personal financial software that allows users to manage their daily expenses and invest in gold and fixed deposits, has begun testing by Dream Sports, the parent company of Dream11.
Dream11 Discontinued
The move follows the company’s decision to discontinue all paid competitions on its primary fantasy sports app, Dream11, to explore new markets. In accordance with India’s new online gaming law, it now only provides social games that are free to play. The rule, which was approved by the president on Friday, prohibits playing online games where players must deposit real money to increase their winnings.
Want To Start Saving With Just ₹10?
Dream Money allows customers to create a Systematic Investment Plan (SIP) or invest in digital gold with daily or monthly contributions as low as Rs 10. Dream Sports has teamed up with Augmont, a digital gold trading platform, to make this possible. Additionally, without requiring a bank account, the app enables users to invest in fixed deposits starting at Rs 1,000. Users wanting to safely increase their savings can benefit from the flexibility and accessibility of these funds, which can be withdrawn whenever they want.
Regarding Dream Sports Finances
Dream Sports was recently valued at $8 billion following a funding agreement in November 2021. It was founded in 2008 by Harsh Jain and Bhavit Sheth. From ₹3,841 crore in FY22 to ₹6,384.49 crore in FY23, the company’s operational revenue increased by 66%.
In addition to Dream11, it also owns DreamSetGo, a platform for sports experiences, FanCode, a platform for sports content and commerce, and Dream Game Studios, a division dedicated to developing mobile games.
PM Narendra Modi On The Online Gaming Bill
The Promotion and Regulation of Online Gaming Bill‘s passing was welcomed by Prime Minister Narendra Modi as a historic step in achieving a balance between social responsibility and gaming innovation. PM Modi said in a statement on X (previously Twitter) that the law will protect society from the negative impacts of online money gambling while promoting e-sports and online social games.
Dream Sports is making it clear with Dream Money that it intends to expand into the financial technology sector while also adjusting to changes in online gambling regulations. In addition to offering customers easily accessible investment options, the app shows how resilient the company is and how it can change its business plan to adapt to India’s changing legislative climate. This next stage of Dream Sports’ development might position the company as a significant player in digital investing and personal finance in addition to fantasy sports.
Financial Analysis And Suggestions For Users
In addition, Dream Money offers customers cash flow analysis, asset and trend analysis, and daily and monthly financial insights. The app is an aspect of Dream Sports’ post-gaming ban diversification initiatives.
DreamX, a UPI payments app that the company had earlier released with Pine Labs in March 2023, had to be taken down later because of an RBI directive.
Conclusion
Dream Money, which offers easy-to-use, low-entry investment and savings solutions for regular consumers, is Dream Sports’ way of announcing a significant transition from gaming to finance. The company is portraying itself as a forward-thinking player in the digital finance ecosystem and adjusting to India’s changing gaming laws by combining financial accessibility with user-friendly insights. Users will benefit from increased control, more intelligent savings, and the opportunity to begin investing with as little as ₹10.
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