Dream11, a market leader in the fantasy gaming space, will be the title sponsor of the Indian Premier League (IPL) this season after it was awarded the sponsorship rights for Rs 222 crore (30 Million). If you don't know What Dream 11 actully is, It's just online gambling space.
In India, Gambling is actully banned and considered a foul thing, and people who play it are considered as a waste man. But things are changing...
In recent past, we have seen mushrooming of online gambling games such as Rummy, Dream11 etc. where millions of people rush to test their fate. Since, the law does not adequately address the legality of online gambling, this remains a grey area which requires intervention on part of either legislature or judiciary. While in several Supreme Court decisions Rummy has not been held to be gambling, the clarity is still required when it comes to online casinos.
Companies like Dream 11 are legal just because this loophole. Dream11 has a valution of $2.5 Billion which this just growing. They are changing people's philosphy by making gameling cool and interative. Betting money on IPL was considered bad and illegal but just because of this loophole they are running billion dollar industry.
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