Latest news with #SportsBaazi
Time of India
27-05-2025
- Business
- Time of India
Supreme Court stays proceedings against Opinion Trading
In a major relief for opinion trading platforms, the Supreme Court has asked Chhattisgarh and Gujarat High Courts to pause the hearings of PILs before them. PILs had been filed before the two courts challenging the validity of opinion trading as games of skill . The Supreme Court's order comes against the backdrop of multiple Public Interest Litigations (PILs) pending in various High Courts across the country, challenging sports engagement gaming formats such as opinion trading and fantasy sports. Notable cases have been heard in the Bombay, Gujarat, and Chhattisgarh High Courts. Recently, Probo approached the Supreme Court asking for all Gujarat and Chhattisgarh PILs to be transferred to the Bombay High court. The transfer is being sought to avoid contradictory orders and save judicial time in hearing similar cases. On 22nd May, the Supreme Court stayed the proceedings and also directed the petitioners in the state PILs to be heard before it. Opinion trading has gained prominence in India over the past few years, driven by a growing consumer appetite for interactive, real-time participation in sports and gaming formats. Some of the key platforms in this emerging space include Probo, Sports Baazi, and MPL Opinio, which are tapping into the demand for predictive, engagement-based experiences. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
23-05-2025
- Business
- Mint
Haryana bans opinion trading apps
Haryana has banned opinion trading apps that allow betting on future events retrospectively from 9 April, according to an official Gazette notification reviewed by Mint. Prompted by a public interest litigation and subsequent high court intervention, the move renders platforms like Probo, SportsBaazi, and MPL Opinio illegal within the state. The state government ordered the ban under its Prevention of Public Gambling Act, 2025. This month, the Chhattisgarh High Court also directed geo-blocking of platforms like Probo, SportsBaazi, and MPL Opinio within the state, though it allowed them to operate elsewhere in the country. While companies did not immediately respond to media queries, MPL Opinio stopped operations in Haryana earlier this week — before the formal notification bringing the law into force. Though the Act exempts games of skill, it leaves out formats like fantasy sports, raising concerns over legal ambiguity. The Haryana Prevention of Public Gambling Bill, 2025 is aimed at curbing public gambling, including betting on sports and elections. One of the key provisions of the Act targets match-fixing and spot-fixing in sports, making such offences punishable with a minimum of three years' imprisonment, which may extend to five years, along with a fine of no less than ₹ 5 lakh. Repeat offenders face harsher penalties, with imprisonment of up to seven years. However, while the Act was enacted earlier, it has only now been notified. Previously, the Securities and Exchange Board of India also distanced itself from the opinion trading ecosystem, stating that such platforms do not fall under its regulatory purview. Despite lingering legal ambiguity, the opinion trading space continues to thrive. Industry estimates suggest that over 50 million users now engage with such platforms, generating nearly ₹ 50,000 crore in annual transaction volumes, with projected revenues of ₹ 1,000 crore for FY25. Leading platforms like Probo have attracted significant investor interest, raising $28 million from names such as Peak XV Partners, Elevation Capital, and The Fundamentum Partnership. TradeX counts Y Combinator among its backers, while SportsBaazi, originally a fantasy sports operator, has ventured into opinion trading—highlighting the sector's growing appeal. The Haryana law broadly defines a "bet" as any agreement—oral, written, or otherwise—between parties on the occurrence or non-occurrence of an event with an uncertain outcome, where incorrect predictions result in the loss or payment of a monetary or non-monetary stake.
India Gazette
21-05-2025
- Sport
- India Gazette
From analysing data to discipline: Inside the minds of India's fantasy gaming professional traders
New Delhi [India], May 21 (ANI): Fantasy sports trading in India is experiencing a sharp ascent, not merely as entertainment, but as a data-driven, skill-based activity aiming to redefine the gaming experience for millions. At the forefront of this shift are power users like Rohan Sultane, a data analyst who has achieved an exceptional 86 per cent win rate on SportsBaazi, and Puneet Dua, the platform's Chief Marketing Officer, whose journey as a passionate gamer during his formative years to a digital industry leader today reflects the sector's explosive evolution. In this exclusive interview, we explored their contrasting yet complementary perspectives on user experience, platform philosophy, gaming misconceptions, and the future of fantasy sports regulation in India. 'It started as a hobby': Rohan Sultane on mastering fantasy sports ANI: Rohan, what sparked your interest in online fantasy gaming? Rohan Sultane:It began with my love for cricket. I've followed the sport since childhood, and as a data analyst by profession, I saw an opportunity to merge passion with skill. I started trading on online fantasy platforms as a hobby, not expecting it to become such a significant part of my life. It's surreal to be giving interviews about it now. Skill vs Luck: What Really Drives Success? ANI: How much of the success in fantasy sports is based on skill versus luck? Rohan Sultane: I'd say it's 50-50 to begin with, but with solid data analysis, you can push your winning chances to 70-80 per cent. You can't predict every ball, but you can increase your edge by understanding pitch behaviour, player form, and match conditions. Puneet Dua: Rohan's a great example. He's not the biggest spender, but he's consistent--his cricket knowledge and analytical approach help him outperform. Even Federer won just 55 per cent of points in his career, but he capitalised on the right moments to deliver a career win record of 82 per cent. We promote the 'Three Ds' at SportsBaazi: Dimaag (Mind), Data, and Discipline. Data Is King ANI: How important is data analysis across different sports on fantasy platforms? Rohan Sultane: It's everything. I focus on cricket because I know the players, pitches, and patterns. If I try kabaddi without that insight, my chances drop. Whether it's cricket, football, or kabaddi, without data, you're basically guessing--and that's a risk. Avoiding Scams: Stick with Verified Platforms ANI: What's your advice for beginners concerned about scams in online fantasy gaming? Rohan Sultane: Always choose registered platforms like SportsBaazi. They pay taxes, follow Indian laws, and offer customer support. Unverified apps may look tempting, but they can leave you with no way to recover your money if something goes wrong. Starting Small: A Smart Gamer's Path ANI: What's your advice for those just stepping into fantasy sports trading? Rohan Sultane: Start with small amounts--Rs 500 to Rs 1,000. Use promotional credits and don't invest your savings right away. I began in the player market with proven performers like Virat Kohli and Steve Smith. Learn how rate changes work, analyse the patterns, and aim for steady profits instead of big wins. Focus on building your understanding first. The Bigger Picture: Growth, Tech, and the Road Ahead ANI: Puneet, where do you see fantasy gaming heading in India? Puneet Dua: We're only scratching the surface. With increased digital literacy and smartphone penetration, fantasy sports are reaching users in Tier-2 and Tier-3 cities. Platforms like ours are also creating jobs, not just games. I believe this growth will continue through 2030 and beyond. On Regulation: A Work in Progress ANI: How is the regulatory landscape shaping up for the industry? Puneet Dua: India is catching up. Mature markets like the UK and Australia took time to implement sound regulations, and we're now seeing similar efforts here. Government involvement and policy discussions are encouraging signs. Clear regulation will ultimately protect users and grow trust in the ecosystem. (Disclaimer: This article is for informational purposes only and does not constitute investment advice.) (ANI)
Mint
18-05-2025
- Business
- Mint
Mint Explainer: Opinion trading apps win relief—but is it game on or just extra time?
A fresh legal twist has kept India's opinion trading apps alive—at least for now. On Saturday, the Chhattisgarh High Court granted interim relief to platforms such as Probo and SportsBaazi, allowing them to operate nationwide while ordering geo-blocking only within the state. The court flagged procedural lapses, noting that the state's blanket ban lacked prior notice or a hearing. This comes even as another court—Punjab and Haryana High Court—hears a public interest litigation (PIL) seeking a complete ban on such platforms, alleging they promote online betting and misrepresent themselves as skill-based games. Mint explains what opinion trading platforms are, how they operate, why courts are cracking down, and what this legal relief means for the industry. Also read: Betting ads mushroom in regulatory grey zone What are opinion trading platforms? Platforms like Probo, TradeX, MPL Opinio, Trago, and SportsBaazi let users stake real money on real-world outcomes—be it election results, cricket scores, or film releases. These are framed as 'yes/no" binary questions—such as 'Will India win the next T20 match?" or 'Will XYZ film cross ₹100 crore in its first weekend?"—where users buy or sell positions based on market odds. Also read: Mint Explainer: Why is IPL 2025 plastered with fantasy gaming and 'pan masala' ads? While the platforms claim their games are skill-based, regulators and courts are still undecided—raising concerns that these mimic gambling more than gaming or investing. What is the market size and investor interest? Despite the legal ambiguity, the opinion trading space is buzzing. According to industry estimates, over 50 million users now engage with such platforms, generating nearly ₹50,000 crore in annual transaction volumes, with projected revenues of ₹1,000 crore for FY25. Major platforms like Probo have raised $28 million from prominent investors including Peak XV Partners, Elevation Capital, and The Fundamentum Partnership, while TradeX counts Y Combinator among its backers. SportsBaazi, originally a fantasy sports operator, has also forayed into opinion trading, reflecting the sector's growing traction. However, funding has slowed. Per Tracxn, 2022 saw $26.6 million raised across six rounds; in 2023, it crashed to just $154,000—a sign of growing investor wariness amid tightening regulation. While currently led by 5–6 dominant players, a wave of startups is entering the fray—particularly targeting users in Tier 2 and 3 cities. However, with Securities and Exchange Board of India (Sebi) distancing itself and courts now questioning the legal basis of these platforms, the industry's future remains in a regulatory grey zone. What did the Chhattisgarh HC say? The Chhattisgarh High Court provided interim relief to SportsBaazi and Probo by allowing them to operate outside the state while directing them to geo-block access within Chhattisgarh. This decision came after the platforms challenged a directive from the state's Inspector General of Police, which ordered telecom and internet service providers (ISPs) to block access to these platforms under Section 79(3)(b) of the IT Act and local gambling laws. The block order was issued by Chhattisgarh Police, but applied to the whole of India, which the petitioner argued is beyond the state's jurisdiction. The court observed that the platforms were blocked without any prior notice, hearing, or formal complaint — pointing to possible procedural lapses in the enforcement action. What are the platforms saying? Both Probo and SportsBaazi maintain that they are simply technology platforms, hosting skill-based games like Rummy. They also argued that, as intermediaries, they are protected under Section 79 of the IT Act, which shields platforms from liability for user actions unless they're directly involved in illegal activity. They claimed they should have been given notice and a chance to respond before being blocked — as required under the IT Rules. They also claim they were not given a fair chance to respond to the ban, violating due process laid out in the IT Rules. What does Sebi think? These platforms had hoped to be brought under the regulatory ambit of Sebi, similar to how the Commodity Futures Trading Commission (CFTC) regulates prediction markets in the US. However, those hopes were dashed when Sebi made it clear that opinion trading doesn't fall within its jurisdiction. While these platforms claim to be skill-based and seek to distinguish themselves from gambling, stock trading, or fantasy sports, regulators remain unconvinced. Also read: Sebi's warning leaves opinion trading apps in limbo 'They were hoping to be regulated by Sebi. But now it looks like MeitY is the next possible regulator. Their attempt to carve out a new financial category is starting to look shaky," said an industry executive familiar with the matter, requesting anonymity. Meanwhile, in court, authorities have argued that these platforms operate more like betting apps, relying largely on chance rather than any demonstrable skill. What's happening in other courts? Recently, a PIL was also filed in the Punjab and Haryana High Court seeking a ban on opinion trading platforms, alleging that they misrepresent themselves as skill-based games while effectively operating as gambling services. The court has issued notices to the central government, Reserve Bank of India (RBI), and Sebi, indicating a broader legal momentum against such platforms. This mainly concerns the new Haryana Prevention of Public Gambling Act (HPPGA), 2025, which has triggered much of the ongoing litigation. 'The new Haryana legislation is very ambiguous— which is why all this litigation. It fails to clearly classify skill-based games like fantasy sports and opinion trading. While it bans games of chance and exempts skill-based ones, it doesn't specify where these platforms fit," said another industry executive familiar with the matter. What is the path ahead for these startups? The industry is at a crossroads. Calls for self-regulation are growing, but without clarity from courts or regulators, these platforms operate in a precarious space—much like crypto exchanges did until 2022. Until a dedicated regulator steps in or lawmakers provide clarity, opinion trading platforms will remain legally exposed—thriving on user demand, but shadowed by regulatory risk. Also read: Gaming or Gambling? Young Indians are getting addicted to 'opinion trading', and losing huge sums
India Gazette
17-05-2025
- Sport
- India Gazette
Chhattisgarh High Court gives relief to skill gaming platform SportsBaazi
Bilaspur (Chhattisgarh) [India], May 17 (ANI): The High Court of Chhattisgarh at Bilaspur has granted interim relief to SBN Gaming Network Pvt. Ltd., the operator of SportsBaazi, in response to its legal challenge. The Court issued an interim directive restraining the petitioner from operating its website within Chhattisgarh. The court ordered the platform to be blocked in the state through 'Gio block.' However, SportsBaazi remains permitted to function in other parts of India until the next hearing, said the court. Justice Amitendra Kishore Prasad, presiding over the case, observed that the petitioner's app, which offers 'Rummy,' qualifies as a skill-based gaming platform and is not prohibited under the IT Act or IT Rules. The Court also noted that the app was blocked nationwide without prior notice or an opportunity for the petitioner to be heard, raising concerns over procedural fairness. Additionally, the ruling highlighted that while betting and gambling fall under List-2 (State List), skill-based gaming is governed by the IT Act, which falls under List-1 (Union List). This distinction suggests that state authorities may not have jurisdiction to impose restrictions on such platforms. The Court acknowledged that the app's gameplay involves elements of strategy, mutation, and combination, reinforcing its classification as a 'Game of Skill' rather than a 'Game of Chance.' The company's petition contests a directive dated May 5, 2025, issued by the Inspector General of Police (Technical Service), Chhattisgarh. This directive had instructed telecom and internet providers to restrict access to specific platforms, including SportsBaazi, citing provisions under Section 79(3)(b) of the IT Act and regional gambling laws. Represented by Senior Advocate Mukul Rohatgi, the petitioner argued that SportsBaazi operates a legally compliant, skill-based fantasy gaming platform, and that the action taken 'was arbitrary, lacked due process', and extended beyond the territorial jurisdiction of the state. (ANI)
