Mumbai: As part of its ongoing probe into offshore betting applications, the Enforcement Directorate (ED) has asked quick-commerce platform Zepto to join its investigation into alleged money laundering linked to Parimatch, a Cyprus-based betting platform that is banned in India but allegedly continues to target Indian users through mirror websites, surrogate advertising and digital promotional campaigns, people familiar with the matter said.
Promotional Flyers for Offshore Betting Platform Were Included in Zepto Deliveries to Households
According to officials, the agency is examining promotional activities linked to Parimatch and has sought information from Zepto to provide details regarding advertisements that investigators believe were circulated through the platform. Sources said the scrutiny stems from findings that advertisements for the offshore betting platform were circulated through promotional flyers included in Zepto deliveries, prompting the agency to question the company as part of the probe. Officials said the investigation found that promotional campaigns linked to the betting platform were run through the quick-commerce platform and that flyers carrying Parimatch advertisements were distributed along with customer orders, effectively delivering betting-related promotions directly to households.
However, Zepto has not been named as an accused in the case, and there is no indication so far that the company is facing allegations of involvement in the alleged money laundering operation. Officials said the company has been asked to cooperate with the investigation and furnish information sought by the agency.
Zepto Says Ad Was Placed in March 2025 Through Third-Party Media Agency for Merchandise Entity
Responding to queries,,a Zepto spokesperson said that though the official channel ED requested for cooperation, the company had fully cooperated with the ED and shared all information available with it
“The matter relates to an advertisement placed in March 2025 through a third-party media agency arrangement for a merchandise entity. Zepto did not directly onboard, contract with or manage the advertiser in question and had no involvement in any betting, gaming, payments, user acquisition or operational activity linked to the entity under investigation,” the spokesperson said.
Parimatch Allegedly Used Surrogate Platforms 'Parimatch Sports' and 'Parimatch News' to Redirect Users
The spokesperson added that the company had connected investigators with the vendor responsible for the advertisement to assist further inquiries. “Any suggestion that Zepto had an operational role in the matter is incorrect,” the spokesperson said.
According to the agency, Parimatch allegedly operated surrogate advertising platforms under the names “Parimatch Sports” and “Parimatch News”. While these entities presented themselves as providers of sports-related content, officials claim they were used to redirect users to betting platforms. Sources said the advertisements under examination in Zepto’s case were linked to Parimatch News, prompting investigators to examine the nature of the promotional arrangement and the user-redirection mechanism involved.
Investigators Probe Allegations That Proceeds Were Routed Through Multiple Bank Accounts
The ED’s Mumbai office is investigating Parimatch under the Prevention of Money Laundering Act (PMLA) on the basis of a cyber police FIR. The agency alleges that the platform generated thousands of crores of rupees from Indian users through illegal online betting operations and routed funds through a network of mule accounts, payment intermediaries, cryptocurrency channels and other mechanisms to conceal the movement of funds.
Investigators are probing allegations that proceeds generated through the platform were routed through multiple bank accounts and intermediaries in violation of anti-money laundering laws.
Officials said several offshore betting operators have created social media pages that appear to provide sports-related content while redirecting users to betting platforms.
India's offshore betting market is estimated to be worth over Rs 85,000 crore, with some platforms allegedly generating annual revenues ranging from Rs 3,000 crore to Rs 5,000 crore. Investigators claim betting operators frequently engage influencers, actors and sportspersons through informal arrangements, with payments often routed through overseas jurisdictions including Cyprus and Dubai.
According to the ED, Parimatch and its associates allegedly used a complex network of mule accounts, payment intermediaries and financial inclusion channels to collect, layer and transfer user funds.
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