Indian cricket is looking for a new main sponsor after a fantasy sports gaming platform pulled out of a deal worth $43.6 million following a government ban on online gambling, reports said Monday.
Dream11, the biggest online gaming platform in the country, became the lead sponsor of the men’s and women’s national teams after signing a three-year deal in July 2023.
The Dream11 logo is printed on the jerseys of the Indian players.
It is also the sponsor of several Indian Premier League franchises.
Last week, the Indian parliament passed the Promotion and Regulation of Online Gaming Bill, criminalising the offering and financing of such games, with offenders facing up to five years in prison.
The Indian Express newspaper said Monday that representatives of Dream11 visited the office of the Board of Control for Cricket in India (BCCI) and informed its chief executive, Hemang Amin, that they won’t be able to continue.
“As a result, they won’t be the team’s sponsors for the Asia Cup. The BCCI will float a new tender soon,” the daily said, quoting a BCCI official.
The T20 Asia Cup starts on September 9 in the United Arab Emirates.
“There’s not much time left for the Asia Cup, but we are exploring options,” a board official was quoted as saying by Sportstar website.
Dream11 is also the official partner of the Caribbean Premier League and sponsors Australia’s Big Bash League.
The gaming ban impacts platforms for card games, poker and fantasy sports, including India’s wildly popular homegrown fantasy cricket apps.
The government said the rapid spread of gambling platforms had caused widespread financial distress, addiction and even suicide among the youth.
It also said it was linked to fraud, money laundering and terrorism financing.
