BCCI Seeks New Sponsor as Dream11 Bows Out Amid Gambling Ban

Dream11 has exited as title sponsor of the Indian cricket team due to government regulations banning real money gaming. The Board of Control for Cricket in India (BCCI) is in the process of searching for a new sponsor, with the upcoming Asia Cup fast approaching.

Dream11, a major player in the fantasy sports industry, has stepped down as the title sponsor of the Indian cricket team, following new government regulations that ban real money gaming. The BCCI is left searching for a new sponsor, a process that is expected to take time.

The newly enacted 'Promotion and Regulation of Online Gaming' act has caused a significant revenue loss not only for Dream11 but for the entire fantasy gaming sector. BCCI Secretary Devajit Saikia confirmed that Dream11's partnership cannot continue under the new legal framework.

With only days remaining before India's Asia Cup matches, BCCI faces a challenging timeline to secure a new sponsorship. Meanwhile, other fantasy sports companies like My11Circle, closely tied to real money gaming, are also feeling the impact, especially concerning their agreements with the Indian Premier League.

(With inputs from agencies.)