“I have been playing Dream11 for the last four years and have earned Rs 2,40,000,” said 29-year-old Ashwin, a freelance writer. Dream11 is an opportunity for him to use his knowledge of sports to earn “some real money”.
“I enjoy watching matches and researching about them. I then use all that research to form my teams. The best thing is that I can use this knowledge to win some real money,” he added.
Fantasy gaming has garnered a lot of attention recently, especially after the Indian Premier League (IPL) tied up with Dream11. But most participants are not as fortunate as Ashwin.
Dream11 typically offers a huge prize pool for games. During this IPL season, it’s offering a prize pool of Rs 15 crore and the first prize winner gets Rs 1 crore per match. Such big prizes attract more users. Around 40-50 lakh teams participate in these mega contests. This is when an individual can make up to 11 teams of his own in a single match. The entry fee per team is Rs 49. So assuming that even 40 lakh slots get filled, the total revenue from the mega contest is approximately Rs 19.6 crore.
However, only 65% get their money back and roughly 0.1%, or 3,710 teams, manage to earn Rs 100 or more, according to the data available on the Dream11 app. Of this, only 14 teams win Rs 10,000 or more. The one at the third spot gets Rs 5 lakh, one who stands second gets Rs 10 lakh and the winner gets 10 times the amount, that is, Rs 1 crore. This shows that the probability to win a large amount is extremely small.
Jatin (name changed), a 23-year-old automation engineer from Bengaluru, was thrilled by the idea of winning cash prizes while enjoying his favourite sport. But he could barely make a profit.
“I have been playing on Dream11 for a year now. I have played around 48 games and my net profit stands at Rs 200. Although it’s fun, it is kind of disappointing that I can’t earn much after investing so much time and effort,” he said.
There are also gamers who haven’t even recovered the amount they invested. Akash Kini, a 26-year old senior software developer, has spent around Rs 1,000 this IPL season and has earned less than Rs 500.
When we spoke to the users, we found out that most of the new entrants win only a small amount which can be attributed to lack of experience and sometimes even luck. “I use it for entertainment only. I cannot think about making serious money through fantasy gaming. The chances of winning big in the games with huge participation is minimal. I try my luck in smaller games,” Jatin added.
These platforms unveil little to no information about the recipients of the Rs 1 crore prize. Many players are also sceptical and allege that the platform could be using bots to achieve the top rankings. “I doubt that it is really genuine. One who can create such big platforms can also create bots which get into the top rankings,” alleged Akash.
The Electronics tried to speak to Dream11, but received no response till the time of publishing this report.
Although the percentage of people getting large rewards is small, the participation in these contests does not seem to be getting affected.
Read more: WireX – October Edition