Parimatch Faces India Probe After Large-Scale Raids Over Alleged Illegal Operations

India’s Enforcement Directorate has carried out searches as part of an investigation into gambling operator Parimatch. The Times of India reported that searches were conducted at 17 locations across several Indian states.

Investigators allege that Parimatch has been operating in India as an illegal bookmaker and attracting users with claims of potential winnings.

The value of transactions identified on the platform over the past year exceeded $312 million.

Accounts linked to IT and fintech companies, payment agents, retail outlets and money transfer services were allegedly used to receive deposits and make payments to users. Authorities also allege that some of the funds may have been transferred out of India through intermediaries operating outside the formal banking system.

Separate allegations concern Parimatch’s marketing activities. The operator is alleged to have used surrogate advertising* under the Parimatch Sports and Parimatch News brands, while also sponsoring local cricket and other sports tournaments in more than 15 states. Parimatch promotional materials were also allegedly distributed through delivery platforms.

During the searches, assets worth about $162,000 were seized, including around $125,000 in cash. A further $395,000 held in bank accounts was frozen.

In total, access to about $11.65 million in assets has so far been restricted in connection with the Parimatch investigation in India.

Indian authorities had previously frozen multimillion-dollar assets as part of an investigation into the alleged illegal operations of 1xBet in the country.

* The promotion of a prohibited product through formally permitted brands or services with a similar name.