Fantasy sports platforms like Dream11, MyTeam11, MPL and My11Circle thrive during the IPL. Founded by industry leaders such as Harsh Jain and Vinit Godara, these apps leverage user engagement and diverse revenue streams to achieve success.
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The Indian Premier League (IPL) kicks off each year, and one sector that thrives during this period is fantasy sports. Apps like Dream11, MyTeam11, MPL Fantasy, and My11Circle witness an explosion in user engagement, with millions creating virtual teams to compete for real cash prizes.
Once a lesser-known pursuit, fantasy cricket is now firmly embedded in India’s sporting and digital culture, running hand-in-glove with the IPL’s skyrocketing popularity. But who actually owns these apps—and how do they turn user passion into business profits?
Dream11, the dominant player in the market, was founded in 2008 by Harsh Jain and Bhavit Sheth. It operates under Dream Sports, which is backed by global investors such as Tiger Global, TPG, and Steadview Capital.
Notably, Dream11 achieved unicorn status in 2019, the first in Indian fantasy sports, and has since diversified into areas like sports content (FanCode), merchandise, and experiences.
MyTeam11 hails from Jaipur and was co-founded by Vinit Godara and Sanjit Sihag in 2016.
While its user base is smaller, it was among the first to tap into audiences in Tier 2 and Tier 3 cities. It operates under MyTeam11 Fantasy Sports Pvt Ltd and offers fantasy contests across a wide range of sports.
MPL Fantasy is part of the broader Mobile Premier League ecosystem, co-founded in 2018 by Sai Srinivas and Shubham Malhotra. MPL includes everything from casual games to esports and fantasy cricket.
It counts Sequoia India, Times Internet, and RTP Global among its investors and has made acquisitions, such as GamingMonk, to bolster its esports strategy.
My11Circle, launched in 2019 by Games24x7 (also the parent company of RummyCircle), was co-founded by Bhavin Pandya and Trivikraman Thampy.
It grew rapidly, helped by brand ambassadors like Sourav Ganguly, Shubman Gill and Mohammed Siraj. Its parent firm is valued at over USD 2.5 billion and is backed by investors, including Tiger Global.
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These fantasy cricket platforms operate on a freemium-plus model. Users can enter free contests or pay a nominal fee to participate in cash leagues. The real revenue lies in volume—millions of micro-payments pooled per contest.
Platforms charge a ‘platform fee’ or commission—typically between 10% and 20%—on each entry. For example, if a Rs 50 contest attracts one million entries, the gross pool is Rs 5 crore. The platform may retain Rs 50 lakh as commission, while the remaining Rs 4.5 crore is distributed as prize money.
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IPL is the financial engine room for fantasy sports. Platforms structure their entire marketing calendar around the two-month tournament. Tactics include:
My11Circle’s 'Beat the Expert' feature lets users challenge cricket legends like Shane Watson and Ganguly, blending sports fandom with competitive gaming.
Dream11 alone posted revenues of Rs 6,384 crore in FY23 with a net profit of Rs 188 crore, showing clear market leadership.
Meanwhile, MPL reported over Rs 600 crore in FY22. Games24x7, the parent of My11Circle, was last valued at over USD 2.5 billion. Financials for MyTeam11 remain private, but industry experts estimate significant growth driven by regional user bases.
However, the sector now contends with a shifting regulatory landscape. A flat 28% Goods and Services Tax (GST) on full face value, introduced in October 2023, has squeezed margins. Several companies have adjusted contest formats and prize structures to adapt.
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As of now, fantasy cricket is no longer just a side attraction but an industry at the core of India’s digital sports ecosystem. With IPL serving as its biggest stage, platforms like Dream11, MyTeam11, MPL, and My11Circle are rewriting the rules of sports engagement.
Even amid tighter regulation, the industry's innovation and user-centric strategies suggest that the fantasy game is far from over.
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Dream11, MyTeam11, MPL Fantasy, My11Circle: Know the owners and how they profit during IPL – Odisha TV
