Investigation reveals ₹450 crore monthly earnings from illegal betting network

In a detailed investigation, the Enforcement Directorate uncovered that the illegal online betting network associated with Mahadev Online Book and SkyExchange was raking in over ₹450 crore every month. The network operated using a franchise‑based panel system managed from abroad.

The ED’s findings show that the colossal sums were moved through a multilayered financial structure, employing cash, shell companies, and falsified entries to mask the true nature of the income. The money was subsequently invested in shares, securities, and other high‑value assets.

Authorities have attached assets worth ₹940.77 crore belonging to Vikas Garg, his family, and companies under their control. The attachment includes residential buildings, land, equity shares, and other securities as part of the ongoing money‑laundering investigation.

The case, initially based on an FIR filed in Durg, Chhattisgarh, has now expanded to include complaints from multiple states, highlighting the nationwide scope of the alleged fraud.