- Fantasy online game company Dream11 had been the lead sponsor for the Indian cricket team since 2023
- It stepped back after India levied a ban on online gaming platforms offering services involving real money bets
- Crypto tokens are also largely unregulated in the country and seen as speculative assets
The Board of Control for Cricket in India (BCCI) has invited bids for the lead sponsor for the national cricket team. In an official statement shared on Tuesday, September 2, the country’s cricket governing body clearly barred crypto firms from applying.
Fantasy online game company Dream11 had been the jersey sponsor for the Indian cricket team since June 2023. The platform, that allowed players to create virtual cricket teams and participate in paid contests, had to take a step back owing to a recent government decision.
Reiterating the government’s stance the BCCI said, “Bidder should not provide any online money gaming, betting or gambling services or similar services to any Person in India. Bidder should not be directly or indirectly engaged in the business of crypto trading or crypto exchange or crypto token or any business of similar nature.”
Newsletter
Get weekly updates on the newest crypto stories, case studies and tips right in your mailbox.
India recently imposed a ban on gaming startups that allowed users to dabble in bets and competitions that involved real money. The direction falls under the Promotion and Regulation of Online Gaming Bill, 2025 aims to regulate India’s e-sports sector and prevent nationals against financial risks.
As far as cryptocurrencies are concerned, digital assets still fall under the speculative category — that remain largely unregulated in the world’s most populated nation. This is why the assets are not advertised as tokens to actively engage with.
Once this bill was passed in the Parliament in August, Dream11 among other similar platforms had to re-consider their operational roadmaps and offerings. The platform, in 2023, had signed a three-year sponsorship deal that was reportedly worth $40.8 million.
As per BCCI’s directives, any bidder operating across multiple categories — any of which falls under the barred ones — are also prohibited from submitting sponsorship proposals. The agency has further prohibited brands to submit bids through surrogates as well.
Companies from the sectors of alcohol, tobacco, and pornography have also been prohibited from applying for sponsorships. The window for applications close on September 12.
