The Enforcement Directorate has revealed that the Mahadev betting network generated over ₹94,400 crore in illegal revenue. This latest charge sheet, which names 42 new suspects, underscores a massive money-laundering investigation and highlights the platform's alleged ability to continue operations despite federal scrutiny.
The Enforcement Directorate (ED) has submitted fresh findings to a special Prevention of Money Laundering Act (PMLA) court in Raipur, estimating that the Mahadev online betting ecosystem has funneled approximately ₹94,400 crore in illicit funds over the last decade. This figure, described by investigators as provisional, reflects the extensive scale of the network, which includes revenue generated from related platforms such as Skyexchange.com and Lotus365.com.
The agency's investigation, which began in October 2022, has now reached a significant phase with the filing of a sixth charge sheet. This document adds 42 new names to the list of suspects, bringing the total number of individuals and entities accused in the case to 116. The ED has also conducted more than 190 searches nationwide as part of its efforts to dismantle what it describes as a highly resilient betting infrastructure.
Central investigators have alleged that the platform’s survival and growth were supported by the connivance of local law enforcement and politically exposed persons in Chhattisgarh. The ED claims these individuals received regular payments to ignore the betting rackets, which operated openly in cities like Bhilai, Raipur, and Bhopal. The platform allegedly used encrypted communication channels, such as WhatsApp and Telegram, to recruit participants and manage betting interfaces for various sports and card games.
Despite the scale of the legal action, the ED has noted that the platform continues to operate, utilizing a vast network of panels across the country. To date, the agency has attached assets valued at ₹2,104 crore, including luxury real estate and gold purchases made by operators using illicit profits. The crackdown has also extended to celebrity endorsers, many of whom are now returning earnings derived from promotional activities for the platform.
For the broader financial and gaming sector, the investigation highlights the regulatory and compliance risks associated with offshore and unregulated betting platforms. The ongoing PMLA case serves as a point of focus for regulators monitoring money laundering risks within digital gaming and payment ecosystems. Investors and observers in the fintech and digital gaming space may track future updates on the court proceedings, as the agency continues to trace the flow of funds and investigate the involvement of local officials and facilitators.