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ED Probes Betting App Endorsements; Harbhajan, Yuvraj, Suresh Raina, Sonu Sood, Questioned — Profit Exclusive
- The Enforcement Directorate (ED) is investigating illegal online betting platforms and their endorsements by celebrities like Harbhajan Singh, Yuvraj Singh, Suresh Raina, Sonu Sood, and Urvashi Rautela.
- These platforms are accused of violating Indian laws by promoting themselves as skill-based games but operating on luck-based outcomes, using rigged algorithms.
- Preliminary findings suggest that the endorsements may breach multiple Indian laws, including the IT Act, Foreign Exchange Management Act, Prevention of Money Laundering Act, and others.
- Some celebrities have been issued notices, and more are likely to follow.
- The ED investigation has uncovered over Rs 50 crore paid to media outlets for surrogate advertising.
- Officials found that these platforms have gained visibility through partnerships with celebrities and influencers, despite government bans.
- The illegal online betting market in India is estimated to be over $100 billion, with tax evasion amounting to Rs 27,000 crore annually.
- Around 22 crore Indian users are believed to use these apps, with 11 crore being regular participants.
- The ED also highlighted the social impact, linking over 1,000 suicides to online betting losses, affecting students, homemakers, daily wage earners, and unemployed youth.
- Investigations revealed schoolchildren skipping classes and college students using tuition money to gamble, leading to family financial crises.
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