ED Raids 12 Locations Across 4 States In Parimatch Illegal Betting Money Laundering Probe

Mumbai, September 2, 2026: The Enforcement Directorate (ED) on Wednesday carried out searches at 12 locations across Maharashtra, Delhi-NCR, Rajasthan and Gujarat in connection with a money laundering case involving Cyprus-based illegal online betting platform Parimatch and its associates.

The searches, which began early Wednesday, covered five locations in Maharashtra, four in Delhi-NCR, two in Rajasthan and one in Gujarat.

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According to the agency, the premises searched included those of payment companies allegedly involved in converting betting proceeds into cash through Cash Management System (CMS) agents. The ED also searched premises linked to Chartered Accountants (CAs) and Company Secretaries (CSs) suspected of facilitating the movement of proceeds out of the country through illegal remittances and sham Overseas Direct Investment (ODI) transactions.

Premises of payment gateways allegedly handling pay-in and pay-out transactions for the Parimatch platform were also covered during the searches.

The search operation is being continued by the ED's Mumbai Zonal Office under Section 17 of PMLA, 2002, which grants authorised officers the power to conduct search and seizure operations if they have documented reasons to believe that a person is involved in money laundering or possesses proceeds of crime, covering premises of the suspects linked to the case.

Earlier Searches And Seizures

The latest action follows searches conducted by the agency on May 26 at 17 locations across Maharashtra, Rajasthan, Delhi, Gujarat, Daman and Uttar Pradesh as part of the same probe. During those searches, the ED seized movable assets worth around Rs 1.56 crore, including approximately Rs 1.2 crore in cash, and froze funds of around Rs 3.8 crore in various bank accounts. Documents and digital devices were also seized.

The ED initiated its investigation on the basis of an FIR registered by the Cyber Police Station in Mumbai against Parimatch.com over allegations of cheating users through its online betting platform. According to the agency, the platform and its associates generated more than Rs 3,000 crore in a year through the betting operation.

Mule Accounts And Payment Network

The federal agency's investigation conducted so far has revealed that "Parimatch and its associates adopted a complex network of mule accounts, payment intermediaries and financial inclusion channels for collection, layering and transfer of user funds," the ED has said.

According to the agency, in several instances, withdrawals by users were processed without any direct outward payment from accounts controlled by the betting platform. Instead, deposits made by other users were allegedly routed to the bank accounts or UPI IDs of users seeking withdrawals in multiple tranches, making it difficult to trace the actual source of the funds.

The ED has also alleged that user deposits and payouts were routed through current accounts maintained by software, fintech and technology-related entities, some of which were engaged in legitimate businesses. These accounts were allegedly used to collect deposits and process payouts under the guise of vendor payments, business transactions and payment gateway services.

BC Networks And CMS Channels

Earlier searches had also revealed the alleged misuse of Banking Correspondent (BC) networks, mobile money transfer agents, Grahak Seva Kendras, CMS channels, local kirana stores and retail outlets to facilitate payouts and movement of funds linked to the betting platform.

According to the ED, the mechanism involved routing user funds through retailers and Grahak Seva Kendras operating under BC networks. Funds were first transferred to retailers, who passed them on to BCs. The BCs then recharged the retailers’ wallets, which were subsequently used to make payouts to Parimatch users. The arrangement allegedly helped obscure the actual source and trail of the funds.

The agency has further alleged that certain agents diverted cash received through CMS channels and adjusted it against RTGS transfers sourced from deposits made by Parimatch users, thereby disguising the origin and movement of the funds. The cash was subsequently moved out of India through alleged hawala channels, the ED said.

Surrogate Advertising And Promotion

Investigation has revealed that Parimatch aggressively promoted its betting platform through surrogate advertisements under the names 'Parimatch Sports' and 'Parimatch News.' Unlike other betting websites, Parimatch focused on hyperlocal marketing wherein it sponsored teams in local cricket leagues across more than 15 States in India, besides hockey and football tournaments," the agency has said.

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Its investigation has also revealed that the platform promoted betting-related advertisements through leading quick-commerce applications and circulated promotional material along with grocery deliveries to attract and onboard new users. "Such advertisements were strategically displayed to users during app usage and order placements to attract and onboard new users to the platform.

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