SRINAGAR: A youth from south Kashmir’s area became an overnight millionaire by winning Rs 2 crore on the online fantasy cricket platform Dream11.
Quoting Waseem Raja from news agency KNO reported that he was deep asleep on Saturday late night, when some friends called him and informed him that he is placed at first number in Dream 11 following which he realized that he has won around Rs 2 crore.
As the news broke out, people started congratulating him and his family. I have been trying my luck since last two years by creating fantasy teams in Indian Premier League, he said.
Becoming a millionaire overnight is like a dream. This will help us to overcome.
Videos went viral on social media in which people can be seen congratulating Waseem Raja.
Karnataka High Court
An FIR filed last year against Dream11 co-founders Harsh Jain and Bhavit Seth in Bengaluru has been quashed by the Karnataka High Court.
This was done on the grounds that in view of a division bench’s order striking down several provisions of Karnataka Police (Amendment) Act, 2021 – which had banned real money based online gaming in the state – nothing remains in the FIR.
In February, the Karnataka High Court struck down a state government law that banned online gaming. The state government had notified the law banning betting and wagering in online games in October last year, after Governor assent.
Sports technology company Dream Sports, the parent firm of fantasy sports platform Dream11, said on Wednesday that it completed an investment of $840 million at a valuation of $8 billion. This was led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global, even though the larger gaming sector continues to face regulatory uncertainty. The round also saw participation from existing investors like TPG and Footpath Ventures. This made it among the largest investments globally in the sports technology and gaming sector in India. Our vision and mission is t.....
For the $8-billion sports, technology company Dream Sports, every Indian Premier League season in recent years has been a stepping stone to enhancing scale. Amid a busy schedule at the start of the season, Dream Sports, (Dream11’s parent company) Chief Technology Officer Amit Sharma talks to Choudhury about the challenges of scale, deploying artificial intelligence and machine learning to protect users from bad behavior, and more. Edited excerpts: What are currently your biggest tech challenges? We recently took up the mammoth task of migrating the Dream11 app t.....
Sports tech firm Dream Sports reported a profit of Rs 181 crore in FY2020. This makes it one of the few Indian consumer-tech unicorns to have turned profitable. It had recorded a loss of Rs 87.8 crore in FY2019. Mumbai-based Dream Sports reported its revenues for the financial year 2019-20 as Rs 2,130 crore, a 166 per cent jump since the last financial year, show regulatory documents sourced from business intelligence platform Toiler. There was a 236 per cent increase in the company’s net profit from the last financial year. The company’s total expenses for the fiscal w.....
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