Probo betting app raided by ED, Rs 284 cr frozen: What users must know

The Directorate of Enforcement (ED) has launched a crackdown on Gurugram-based Probo Media Technologies Pvt. Ltd., the company behind the online gaming platform “Probo,” for its alleged involvement in illegal gambling and betting operations across India.

 

The ED’s Gurugram Zonal Office conducted search operations on July 8 and 9 at four locations in Gurugram and Jind, Haryana. The raids targeted the premises linked to Probo Media and its promoters Sachin Subhaschandra Gupta and Ashish Garg, under provisions of the Prevention of Money Laundering Act (PMLA), 2002.

 

Why Probo is under investigation

The action comes after several FIRs were filed against the company in Gurugram, Palwal, and Agra, where users alleged they were misled into investing money on a platform disguised as a skill-based game.

 

 

The enforcement action follows multiple FIRs registered under various sections of the Bharatiya Nyaya Sanhita (BNS), 2023 and the Public Gambling Act, 1867 in Gurugram, Palwal (Haryana), and Agra (Uttar Pradesh). 

 

 From ‘Opinion Trading’ to Gambling Allegations

According to ED’s preliminary findings, Probo Media deceptively presented its app and website as a legitimate "opinion trading" platform, promoting it as a game of knowledge and skill. However, investigations revealed that most games offered on the platform are framed as simple "yes or no" questions, effectively making the outcomes binary—similar to betting.

 

ED officials noted, “The success in such games is governed entirely by chance, not skill or insight, and the users are misled into believing otherwise.”

 

"ED investigation revealed that the app/ websites defrauds its users by initially promoting a deceptive image of a legitimate skill-based platform, only to ultimately exploit them through a betting mechanism where success is governed entirely by chance and not by the user's abilities or insights. The company claims its platform as ‘opinion trading’ and knowledge/ skill is required to play the game. However, analysis of games hows that all the games can be answered with ‘Yes or No’ and hence, there are only two possible outcomes which makes it indistinguishable from gambling/ betting resulting in loss of hard earned money of the users," ED said in a statement.

 

 Lack of KYC and Minor Protection

The agency also highlighted serious regulatory lapses. The platform allegedly allowed minors to register without age verification and lacked any proper Know Your Customer (KYC) mechanism. Misleading advertisements and promotion of "opinion trading" related to election outcomes were also flagged as areas of concern.

 

Foreign Funding & Asset Freeze

The probe unearthed that Probo had received Rs 134.84 crore via preference share issuance from foreign entities based in Mauritius, Cayman Islands, and other jurisdictions. The ED suspects these funds may have been routed without appropriate compliance under Indian laws.

 

During the searches, the agency seized several incriminating documents and digital data. Additionally, fixed deposits and shares worth Rs 284.5 crore were frozen, along with three bank lockers linked to the firm.

 

 Next Steps

The ED is continuing its investigation to trace the end-use of foreign investments, assess the extent of money laundering, and determine the platform's role in promoting unregulated gaming activity. The company’s promoters are likely to be summoned for questioning in the coming days.

 

Why this matters to users

Apps like Probo operate in a legal grey area—promoted as games of skill, but sometimes functioning like betting platforms. If you're using similar apps:

 

Be cautious before investing money.

 

Check for age restrictions, KYC processes, and terms of use.

 

Remember: if returns depend on chance, it's not a game—it's gambling.

 

What is Probo?

Probo is an app and website where users “trade opinions” by answering yes/no questions about real-world events—like election results, cricket matches, or news developments. Users put money behind their answers and earn if they’re correct.

 

Why is Probo in trouble?

The ED believes that Probo’s format is no different from gambling. While it promotes itself as a skill-based platform, users’ success depends mostly on chance—not knowledge or expertise. The company is also accused of allowing underage users, running misleading ads, and accepting foreign funds without proper checks.

 

What is ‘opinion trading’? Is it legal in India?

‘Opinion trading’ is a new term used by some platforms to describe prediction-based gaming. It’s not clearly regulated in India yet, but if it involves money and is based on luck, it could fall under laws that ban gambling and betting.

 

How is this different from stock trading or fantasy sports?

Stock markets are regulated and backed by company performance. Fantasy sports require a team-based strategy and usually involve more skill. But apps with binary outcomes (like Yes/No answers) often resemble betting because there are only two outcomes, and chance plays a huge role.