Indian techie loses $110,000 on betting app, files complaint
A 37-year-old software engineer in India has filed a complaint with cybercrime authorities after losing ₹9 million ($110,000) over two years on an online betting app, according to a report by The Hindu. The police in Bengaluru, the capital city of the southern state of Karnataka, have registered a case under the country’s IT Act and Section 318(4) of the newly implemented Bharatiya Nyaya Sanhita (BNS), which covers fraud involving dishonest inducement.
From small wins to massive losses
, the victim was introduced to the betting platform Namma Exchange in June 2023 by a friend who claimed it was a lucrative investment opportunity. Upon signing up, he found a variety of betting options, including cricket, football, 바카라 games, and other gambling formats.
His initial experience was positive—after depositing ₹10,000 ($120), he won ₹40,000 ($480) on the same day. Encouraged by this quick profit through betting, he invested ₹5 million ($60,000) from his personal savings. The app credited his initial winnings to his account, further reinforcing his trust in the platform.
Cycle of debt and desperation
As he continued gambling, his losses mounted. Seeking advice from the same friend who had introduced him to the app, he was told that initial setbacks were normal and that further investment would help him recover. Taking this advice, he transferred another ₹5 million ($60,000) from his savings. However, he recovered only ₹1 million ($12,000) in winnings, leaving him in financial distress.
Desperate to regain his losses, he took out a ₹4 million ($48,000) loan and continued betting daily from June 2023 until March 6, 2025. Ultimately, he lost the entire sum.
Authorities probe possible betting fraud
The police have launched an investigation into Namma Exchange and its operators, suspecting that the platform might be part of a larger network of fraudulent online betting schemes. The case speaks volumes about the growing concerns about online gambling addiction and the risks associated with unregulated platforms that lure users with promises of high returns.
This incident also highlights broader regulatory challenges as governments worldwide grapple with the rise of online gambling. While some jurisdictions have strengthened consumer protections, many apps continue to operate in legal grey areas, making enforcement difficult.
