OFFSHORE BETTING APPS
ED searches offices linked to Fairplay app over 'financial fraud'
The Enforcement Directorate (ED) Thursday said it conducted searches on multiple locations in connection with its probe on an offshore illegal betting application, Fairplay. The said app was allegedly involved in illegal broadcasting of cricket matches, including the Indian Premier League (IPL) and various online betting activities including results of recently concluded Lok Sabha polls.
Operators of illegal betting apps moving from Dubai to Sri Lanka
As Dubai's scrutiny intensifies on the online gambling empire Mahadev, illegal betting operators are relocating to Sri Lanka. Offshore call centers and offices, crucial for these betting apps, are being established there. Staff running multiple betting websites are now operating discreetly from Sri Lankan villas, drawn by the country's cheaper costs and less rigorous enforcement compared to Dubai.
If Modi is re-elected, these sectors will get his most attention
Prime Minister Narendra Modi has pledged to propel India to become the world's third-largest economy if re-elected for a third term. His ambitious 100-day agenda post-election includes prioritizing manufacturing, new-age technology, infrastructure development, and clean energy sectors. The government aims to implement reforms to boost economic growth and attract foreign investment.
Denied tickets, betting sites still vie for seats in poll arena
Offshore betting apps in India allow users to bet on elections using rupees. Criminals use mule accounts for money laundering, evading taxes. Gaming experts noted a smaller scale of betting in the 2019 general elections.
Chhattisgarh EOW registers FIR against ex-CM Baghel, others in Mahadev betting app case
Chhattisgarh's Economic Offences Wing (EOW) initiated a case against ex-Chief Minister Bhupesh Baghel and others in the alleged Mahadev online betting scam, based on a report submitted by the Enforcement Directorate (ED). Baghel and app promoters face charges including criminal conspiracy and cheating. The ED alleges involvement of high-ranking officials, projecting proceeds of crime at about Rs 6,000 crore.
Cryptocurrency comeback: Indian exchanges shine amid offshore challenges
What started out as a crypto freeze is showing signs of thaw. But can volumes regain levels they once saw? And can platforms like Binance make a comeback in India? ET decodes the latest developments and what they mean for the Indian market.
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Mahadev betting syndicate resurfaces with new avatars, deepfake tactics
These proxy websites have resurfaced with new betting games under different labels. The banned URL Parimatch has become pari-match-bet.in, Lotus365 is now lotus365.co while Fairplay has become fair-play.com.in or fairplay24.in.
Cobranded credit card rush; threat of complete ban on offshore crypto apps
Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction through large consumer facing internet companies. This and more in today’s ETtech Morning Dispatch
Mahadev app promoters funnelled illegal proceeds into crypto, bogus diamond trade
In the 1800-page supplementary prosecution complaint (PC) equivalent to a charge sheet, the federal anti-money laundering agency has also claimed that one of the accused, Asim Das, the courier who allegedly delivered the money to former Chhattisgarh Chief Minister, Bhupesh Bagel, and who had subsequently retracted his statement claimed that he did this 'under influence'. In a fresh statement Das has claimed that he stands by his original statement.
India's government blocked 174 betting and gambling sites
The Indian government has blocked 581 applications, including 174 betting and gambling app, Pankaj Chaudhury, the minister of state for finance, told the parliament on Monday. Some prominent platforms operating illegally include Parimatch, Fairplay, 1XBET, Lotus365, Dafabet, and Betwaysatta.
Real money egaming banned? Players now game the system
Banned in some states, gamers take WhatsApp & Telegram route, mask location to keep playing.
Offshore betting ads concerning, says ASCI amid increased scrutiny on betting apps
The Advertising Standards Council of India (ASCI) has expressed concerns over the advertising of betting apps featuring well-known celebrities, as scrutiny on such apps and their links to celebrities widens. ASCI emphasized that betting is illegal in many parts of India, making its advertising impermissible. The council highlighted the issue of offshore betting ads, featuring prominent Indian celebrities and being shown to Indian audiences, as a matter of concern.
Govt bans Mahadev, 21 illegal betting apps; cyberattacks against India spike
Controversial betting app Mahadev is among 22 illegal betting apps that the government ordered to be blocked on Sunday, following an investigation and raids by the Enforcement Directorate (ED). This and more in today’s ETtech Morning Dispatch.
Why hasn't Centre arrested Mahadev betting app promoters despite lookout circular, says Baghel
In its press note, the Enforcement Directorate (ED) claimed that a forensic analysis and a statement made by a 'cash courier' had led to "startling allegations" that the promoters of the Mahadev betting app paid about Rs 508 crore to the Chhattisgarh chief minister so far, and that "these are subject matter of investigation".
Offshore egaming apps try no-GST ploy to woo users; Binny Bansal’s Curefoods push
Offshore entities of Indian real money gaming apps are trying to lure customers with social media ads, promising their bets won’t be taxed under the 28% slab of the Goods and Services tax (GST). This and more in today’s ETtech Morning Dispatch.
Offshore gaming apps lure users with ‘No GST’ carrot
Most of these apps are now trying to win over customers, advertising that bets placed on their platforms would not face any GST, people in the know told ET.
Offshore real money gaming apps lure users with 'No GST' carrot
India-based real money gaming (RMG) applications are challenging a tax demand of over ₹1.5 lakh crore from the Directorate General of GST Intelligence (DGGI). Meanwhile, offshore RMG apps are actively advertising that they do not attract GST, taking advantage of the 28% GST imposed on RMG apps in India from October 1.
Key accused in Mahadev betting app case held at Mumbai airport, handed over to Rajasthan cops
Mrugank Mishra, a key accused in the Mahadev betting app case, was detained at Mumbai's airport upon his arrival from Dubai. Mishra is accused of assisting the app's promoters in opening questionable bank accounts to divert scam money. He has been taken into custody by the police in Rajasthan, where he faces charges related to the Mahadev app. Mishra allegedly opened bank accounts in the names of unsuspecting individuals, promising them money from government schemes. The app's company, based in Dubai, was involved in hawala operations and money laundering.
Govt plans stricter rules to deter betting apps; Indian cricket jerseys fly off ecommerce shelves
To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the Centre is planning to tighten the rules, especially on UPI payments. This and more in today’s ETtech Top 5.
Centre planning to raise odds against illegal betting companies
The government found as many as 114 illegal betting and gambling platforms operating in India through domain farming, people aware of the details told ET.
ED summons Bollywood actor Ranbir Kapoor in an illegal betting app case
The Enforcement Directorate (ED) has summoned Bollywood actor Ranbir Kapoor for his alleged involvement in the Mahadev Book App illegal online betting case. The ED claims that Kapoor endorsed the app on social media and received payments from it. The agency wants to know the contact and payment details from the actor, as well as the main accused who are suspected to be in Dubai.
Mahadev app scandal: ED to interrogate talk show host Kapil Sharma, actors Huma Qureshi & Hina Khan
The federal probe agency had already summoned Bollywood actor Ranbir Kapoor for questioning on October 6 at its regional office in Raipur.
ED summons Kapil Sharma, Huma Qureshi, and Hina Khan in Mahadev online betting app case
The Enforcement Directorate has summoned Kapil Sharma, Hina Khan, and Huma Qureshi in connection with the Mahadev online betting app case. Several other celebrities and actors are also under investigation. The app, operated from Dubai, allegedly used benami bank accounts to launder money.
A Rs 200 cr wedding that opened gates to a Rs 5,000 cr scam: The men behind Mahadev betting app
The Enforcement Directorate (ED) in India has summoned Bollywood actor Ranbir Kapoor as part of its probe into the Mahadev Book App case, involving illegal online betting. The ED suspects the total amount involved to be over Rs 5,000 crore. Several other Bollywood personalities are also under scrutiny for allegedly receiving payments to attend or perform at the wedding.
ED seizes Rs 417 crore in connection with betting app Mahadev; what we know about the case so far
The Enforcement Directorate has seized assets worth Rs 417 crore from locations linked to the betting app Mahadev. The app, started by Sourabh Chandrakar and Ravi Uppal, is accused of aiding illegal betting websites and laundering money through benami bank accounts. The ED has conducted searches in multiple cities and arrested four accused so far.
Mahadev betting case: ED seizes assets worth Rs 417 crore
The company promoted by Sourabh Chandrakar and Ravi Uppal, which was running operations from Dubai, was allegedly using the online book betting application to enrol new users, create user IDs and launder money through a layered web of benami bank accounts, they alleged.
Mahadev App scam: ED seizes Rs 417 crore after searches in Mumbai, Kolkata, Bhopal
The agency said that it's probe into the matter has revealed that Sourabh Chandrakar and Ravi Uppal, who hail from Chhattisgarh's Bhilai, are the main promoters of Mahadev Online Book and are running their operations from Dubai.
MIB asks state chief secretaries to impose ban on outdoor media online betting ads
The letter follows similar advisories issued by the MIB against advertisements run by online betting and gambling platforms on TV, print, and digital media, including social media intermediaries like Google, Facebook, and Twitter. In his letter to the chief secretaries dated May 2, MIB secretary Apurva Chandra noted that online betting and gambling ads have been curbed in mainstream print, electronics, and digital media.
GST officers detect tax evasion by offshore entities providing online betting, gambling
These online betting and gambling apps are available on Google Play Store for android phone users and App Store for iOS users and can be freely downloaded.
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