Last Updated: 25 November, 2021
Users agree to be bound by the following payment conditions in respect of any transactions made on the Dream11 platform, including making a payment to participate in the premium versions of Contest(s):
The pre-determined price Users pay to enter the Contest(s) includes the pre-determined platform cost for access to the Dream11 Services paid by Dream11, as well as a pre-determined participant's contribution to the prize pool.
All money received from the User are kept in separate non-interest earning bank accounts, subject to these Terms and Conditions. In line with Clause 10 of these Terms and Conditions, the aforementioned accounts are managed by a third party Dream11 has hired. Payouts may be paid to (a) users (for withdrawals), (b) Dream11 (for Platform Fees), and (c) the government from these bank accounts (towards TDS on Winnings Amount). Through the Escrow Agent, Dream11 gets solely its half of the platform fees.
Dream11 retains the right to charge a Platform Fee, which will be set and communicated by Dream11 on the Contest page, which will be published on the Dream11 platform, prior to a User's participation in that Contest. The Platform Fee (plus any relevant tax) will be deducted from the User's account balance, and Dream11 will send the User an invoice for the same.
The User may enter a Contest in which the User is required to make a pre-determined contribution to the Prize Money Pool of the Contest, which will be distributed to the Contest Winner(s) when the Contest is completed according to the terms and circumstances of the Contest. It should be noted that Dream11 has no ownership or interest in the Prize Money Pool and merely serves as a mediator in collecting and distributing the Prize Money Pool in line with the Contest rules. The amount that the User must pay into the Prize Money Pool will be deducted from the User's account balance with the Trustee.
Users that use Dream11 services are given two types of accounts to use for payment processing and reconciliation: I 'Unutilized' Account, and (ii) Winnings Account. It is specified that any funds in the User's accounts may not be transferred to any other type of account owned by the User or to any third-party account, including a bank account maintained by a third-party:
- User's winnings in any Contest will reflect as credits to the User's Winnings Account.
- User’s remitting the amount through the designated payment gateway shall be credited to User’s Unutlized Account’.
When a User enters a contest on the Dream11 platform, the pre-determined sum will be deducted from the User's account. Any residual amount of the participation fee will be taken from the User's Winning Account after debiting amounts from the User's accounts towards the pre-designated amount of such user.
If the User owes any money in connection with his or her participation in any match(s) or Contest(s), the User will be sent to the appropriate payment gateway to complete the transaction. Any money contributed by the User using such payment method that exceeds the remaining amount of the pre-designated amount will be transferred to the User's 'Unutilized' Account and will be accessible for use in any match(s) or Contest (s).
Debits from the 'Unutilized' Account for the purpose of facilitating a user's participation in a Contest are made in the order of the date of credit of amounts in the 'Unutilized' Account, with sums credited into the 'Unutilized' Account earlier in time deducted first.
All funds awarded to a User's 'Unused' Account must be used within 335 days after being credited. If any unutilized funds remain in the 'Unutilized' Account after 335 days from the date of credit, Dream11 retains the right to confiscate such funds without responsibility or obligation to compensate the User.
Any cash owing to the User in the Winnings Account may be withdrawn by submitting a request to Dream11. Within a commercially reasonable time, Dream11 will make an online transfer to the User's bank account on file with Dream11. The User's Winnings Account will be debited as a result of the transfer. The online transfer of such money from the Winnings Account to the User's bank account on record with Dream11 will not be subject to any processing fees. Users should be aware that in order for Dream11 to execute their withdrawal request, they will need to present acceptable picture identification and address proof papers for verification of identity and residence. The name on the User's picture identification document must match the name supplied by the User at the time of registration on Dream11, as well as the name and address in the User's bank account data as submitted to Dream11. Dream11 will not transfer any Winning amounts to the User if the User has not registered a bank account with Dream11 or has not verified his/her User account with Dream11 to Dream11's satisfaction and in accordance with these Terms and Conditions, and if the User fails to register a bank account with his/her User Account and/or to verify his/her User Account.
Furthermore, Dream11 may freely give Cash Bonus to the User for the purpose of participating in any Contest(s) in order to conduct promotional activities, and no User shall be entitled to transfer or request the transfer of any money into the Cash Bonus. The use of any Cash Bonus granted is subject to the limitations and restrictions imposed by Dream11 and communicated to the User at the time of issuance, including, without limitation, time limits on when the Cash Bonus must be utilised. Any Cash Bonus granted to a user is at Dream11's sole discretion and cannot be sought by any User as a matter of right. The issuance of any Cash Bonus by Dream11 on any given day does not enable the user to demand the issuance of such Cash Bonus at any other time or establish an expectation of such Cash Bonus being issued by Dream11 on a recurrent basis. In line with these Terms and Conditions, the Cash Bonus awarded to the user may be used to offset the contribution to the prize pool in any Contest. The Cash Bonus cannot be withdrawn or transferred to any other account of the User, including the User's bank account, or to any other User or person, save as part of the User's Contest wins (s). If the User closes his or her account with Dream11, or if Dream11 closes the account, all Cash Bonuses will be returned to Dream11, and the User will have no right or interest in the points.
All Cash Bonuses awarded to the User account are valid for 14 days after they are credited. The Cash Bonus will expire after 14 days from the date of credit if it has not been used.
Users acknowledge that once they complete a transaction on Dream11, they are obligated by that transaction and must pay for it.
Any transactions on the Dream11 Platform may take up to 24 hours to complete, depending on the time it takes for bank reconciliations and other external dependencies Dream11 has on third parties. It may take up to 24 hours for any cash paid or transferred into the User's 'Unutilized' Account or Winnings Account to appear in the User's 'Unutilized' Account or Winnings Account balance. Similarly, it may take up to 24 hours for the Cash Bonus or money deducted from the User's 'Unutilized' Account or Winnings Account balance to show in the User's 'Unutilized' Account or Winnings Account balance. Users agree not to file any complaint or claim against Dream11 as a result of any delay, including any missed chance to participate in a Contest or match as a result of a delay in crediting transaction funds into any of the User's accounts. A transaction is definitive once it has been verified, and it cannot be cancelled. After deducting relevant cancellation costs and taxes, Dream11 may, in extraordinary circumstances and at its sole and absolute discretion, return the sum to the User. Users may be asked to accept additional terms and conditions at the time of the transaction, and these extra terms and conditions will govern the transaction. If any provision in the extra terms and conditions conflicts with the current terms and conditions, the additional terms and conditions will take precedence.