Hyderabad: Controversial betting app Mahadev Book Online is back in business, pressing high stakes on the results of five State Assembly elections besides the Indian Premier League (IPL).
What is betting app about?
The Mahadev Book Online betting app has been embroiled in controversy for a while. Politicians, bureaucrats and Bollywood personalities have alleged links with the app, which was raided by the Enforcement Directorate (ED) in 2023.
The app was banned in India along with 21 other platforms following ED investigations in 2023 over allegations of a major money laundering racket.
The domain for the new version was registered on March 9, and it enables bets on all kinds of sports, horse racing and politics.
Bets on poll outcomes
Sources in the betting industry said that the app, among other illegal betting sites, is placing big-time bets on the State Assembly Elections by giving online access, called a button, to the punters who register with them.
Three of the five State Assembly Elections, including Assam, Kerala and Puducherry, were held on April 9. West Bengal and Tamil Nadu are yet to go to polls, on April 23, with the former to have a second phase on April 29.
The stakes are so high that the bookies are expecting a massive overall turnover of Rs 4 lakh to Rs 5 lakh crore from betting on these elections.
Political parties performance, according to bookies
The bookies expect a tough contest in West Bengal, giving an edge to Mamata Banerjee's Trinamool Congress (TMC), predicting 164 to 167 out of 294 seats for the incumbent party. According to bookies, the BJP will follow closely at 123 to 126 seats.
In Tamil Nadu, bookies predict the return of DMK, giving them 140 to 143 out of 234 seats, while in Kerala, they predict a change in the government with an edge to Congress-led United Democratic Front (UDF) with 75 to 77 out of 140 seats. The incumbent Left Democratic Front (LDF) may get 62 to 64 seats, as per the bookies.
In Puducherry, bookies predict a government by NDA, expecting them to win 17 to 19 out of 30 seats. In Assam, the bookies predict the return of the BJP with a huge margin, winning 97 to 99 out of 126 seats as against 23 to 25 seats of Congress.
No operations in India
Sources said none of the big bookies is operating from India to avoid being raided. "They are operating from South Africa, Kenya, Bangkok and Hong Kong," bookie said, requesting anonymity.
The Mahadev betting app case
Mahadev Book Online, created in 2018, was blocked by the government following an investigation by the Enforcement Directorate into the allegations of a massive money laundering racket in 2023.
The case snowballed into a major controversy with allegations of involvement of high-ranking politicians and bureaucrats from Chhattisgarh with the operators of the online gambling app that was being operated from Dubai.
Besides, some Bollywood personalities were alleged to have promoted the app for a fee. Some celebrities also allegedly performed at their events, including the wedding of the promoter, in which around Rs 200 crore of the crime proceeds was spent.
ED raids led to seizure of Rs 1,700 crore
The operators were said to be making a business of Rs 200 crore daily, and the ED raids led to the seizure of assets worth more than Rs 1,700 crore.
App rigged against players
The owners were alleged to have rigged the platform, causing loss to over 70 per cent of the users. The total fraud was valued at around Rs 6,000 crore. The money was laundered using mule bank accounts.