Probo, a platform that once let users predict real-world events for money, has suddenly shut down its real-money gaming business. In a quiet update on its app, the
Probo, a platform that once let users predict real-world events for money, has suddenly shut down its real-money gaming business. In a quiet update on its app, the company told users: “In light of recent developments, we have paused all recharge activities in your best interest. We request you to withdraw your funds.”
This move comes just as a major piece of legislation is about to change India’s online gaming landscape. A new bill—now awaiting President Droupadi Murmu’s approval—seeks to ban all real-money games across the country, including platforms like Dream11, WinZO, and RummyCircle. The consequences are serious: up to three years in prison and a fine of ₹1 crore for anyone who breaks the law.
“As unfortunate as it is, we respect the Government of India’s latest Online Gaming Bill,” said a Probo spokesperson. “In light of this development, Probo has decided to discontinue its real money gaming operations with immediate effect until further notice.”
Probo’s entire model was built around what it called “opinion trading.” Users could place binary bets—Yes or No—on questions like “Will it rain in Delhi tomorrow?” or “Will India win the match today?” It was marketed as a knowledge- and skill-based platform, not gambling.
A user from Gurugram filed a complaint claiming he lost ₹20,000 on the app. The FIR alleged that Probo was effectively enabling gambling while pretending to be a financial prediction platform. The complaint invoked old and new laws—namely, the Public Gambling Act of 1867 and provisions from the Bharatiya Nyaya Sanhita, 2023.
Probo is facing legal heat from multiple directions. The Bombay High Court has temporarily paused trial proceedings in one case. Meanwhile, the Supreme Court is handling a set of petitions that question the legality of platforms like Probo.
Across India, several public interest litigations are being heard, all echoing a common message: platforms like Probo are no different from betting apps and should be regulated—or banned—accordingly.
Probo’s business head, Anurag Dhandhi, has publicly argued that opinion trading is a tool for education and digital participation. In his words, “By fostering responsible participation, opinion trading goes beyond entertainment. It contributes to financial literacy, data-driven decision-making, and strengthens the larger digital economy.”
He even pointed out that similar platforms exist in the United States and are regulated by the Commodity Futures Trading Commission. There, they’re seen as part of the financial markets—not gambling.
But Indian regulators and courts don’t see it the same way.
Probo CEO Sachin Gupta didn’t sugarcoat the reality. In a LinkedIn post, he wrote:
“We fully accept the Government of India’s decision, and though tough for the team, we make our peace with it. For 16 years, almost everyone advised me against this idea—today they seem right. Love to all who cared and still do.”
It was a rare moment of honesty from a startup founder—accepting defeat, thanking supporters, and admitting the risk may not have been worth it after all.
Probo’s exit is more than just one company shutting down—it could signal a major shake-up in India’s gaming industry.
The real-money gaming sector is massive. According to industry estimates, it supports around two lakh jobs and contributes close to ₹20,000 crore in taxes. A nationwide ban could create ripple effects in employment, advertising, and digital business.
There’s also uncertainty for users. While Probo is encouraging everyone to withdraw their funds, there’s always the worry: Will everyone get their money back? What happens to the balance if the company shuts down completely?
Everything now hinges on whether the President signs the bill into law. If that happens, the ban on real-money games becomes official. Even skill-based platforms may need to rethink their offerings or shift toward free-to-play models.
At the same time, courts will continue to hear cases and challenges. Some platforms may argue for a distinction between gambling and skill. Others might push for regulation rather than a total ban.
In any case, companies that operate in the gaming space—especially those involving money—are on high alert.
Probo’s journey shows just how fast things can change in the tech world. What begins as a disruptive idea can quickly become a regulatory nightmare. Even with public support, investor backing, and a growing user base, one law can shut it all down.
For Sachin Gupta and his team, the vision might have been ahead of its time—or simply misaligned with Indian law. Either way, the end came swiftly.
