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The Enforcement Directorate (ED) has told a court that alleged proceeds of crime linked to the Mahadev Online Book betting network and its associated platforms have exceeded ₹92,000 crore. The agency claimed that illegal betting operations continued despite the filing of its main prosecution complaint in October 2023.
The disclosure came as the ED secured custody of alleged syndicate kingpin Saurabh Chandrakar until November 19, 2026, for further questioning.
How Did the Mahadev Betting Scam Cross ₹92,000 Crore?
According to the ED, the suspected proceeds of crime were initially estimated at approximately ₹10,000 crore to ₹11,000 crore. However, investigators subsequently revised their assessment after finding indications that the alleged betting operations had continued.
The agency estimated that Mahadev Online Book generated suspected proceeds ranging from ₹75,000 crore to ₹80,000 crore.
Its associated platform, Skyexchange.com, allegedly accounted for another ₹11,000 crore to ₹12,000 crore, while Lotus365.com was linked to approximately ₹2,400 crore. The ED presented these figures as part of its investigation into the suspected money-laundering activities of the betting network.
Investigators claimed that the operations continued even after the main prosecution complaint was filed on October 20, 2023, significantly increasing the suspected financial scale of the case.
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The amounts remain investigative estimates and have not been established as confirmed criminal proceeds by a court.
How Did the Betting Network Continue Operating From Dubai?
The ED alleged that individuals associated with Mahadev Online Book continued managing illegal betting operations from Dubai despite ongoing criminal proceedings.
According to the agency, co-accused Rajat Kumar Singh disclosed that the betting application remained operational and that he was managing approximately eight to 10 betting panels from Dubai.
Another associate, Vishal Ramani, allegedly acknowledged operating around 35 panels from the same city. Investigators cited these disclosures as evidence that the suspected betting network had remained active rather than shutting down after earlier enforcement action.
The agency also referred to its fifth supplementary prosecution complaint, filed on September 10, 2026, which alleged that Chandrakar continued directing illegal betting activities.
The ED maintained that identifying the individuals managing these panels was necessary to establish the network’s existing operational structure.
Why Did ED Seek Saurabh Chandrakar’s Custody?
Chandrakar was extradited from Oman earlier in November and arrested by the Central Bureau of Investigation (CBI) in a related case. The ED subsequently sought seven days of custodial interrogation under the Prevention of Money Laundering Act (PMLA).
The agency argued that questioning Chandrakar was essential to trace the complete movement of funds, determine how the alleged criminal proceeds were used and identify individuals connected to the betting syndicate. The court remanded him to ED custody until November 19.
According to investigators, Chandrakar and other promoters allegedly operated the betting network from overseas. The agency also claimed that he had left India in 2022 to evade arrest.
The ED’s latest submissions have brought renewed attention to the alleged continuation of Mahadev Online Book operations and the substantially increased estimates of suspected criminal proceeds.
The investigation remains focused on tracing the financial network, identifying active betting operators and establishing the roles of individuals allegedly involved in the syndicate.
