Originally Syndicated on August 6, 2023 @ 9:49 am
Probo Game app claims to be a game of skill, but many people believe that it is actually a form of gambling.
Probo Game is an app that allows users to trade their opinions on future events. Users can bet on whether they think an event will happen or not, and if they are right, they win money. The app claims that this is a game of skill, as users need to have knowledge and understanding of the events they are betting on.
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However, some people believe that the Probo Game is actually a form of gambling. They argue that the outcome of events is unpredictable and that users are essentially just betting on luck. They also point out that Probo Game is not regulated by any gambling authority, which makes it even more risky.
It is important to note that there have been no reports of Probo Game being a scam. However, there is also no guarantee that it is a legitimate way to make money. If you are considering using Probo Game, it is important to do your own research and to understand the risks involved.
Probo Game A Scam?
Here are some of the red flags that suggest Probo Game may be a scam:
- The app is not regulated by any gambling authority.
- There is no information about the company behind the app.
- The app makes unrealistic promises of easy money.
- The app has a history of complaints from users.
If you see any of these red flags, it is best to avoid using Probo Game. There are many other legitimate ways to make money online, and it is not worth risking your hard-earned money on an app that may be a scam.
Probo Game Faces Legal Troubles in India
Probo Game is under investigation by the authorities in India. The app has been accused of being a scam and of violating gambling laws.
In February 2023, the Mumbai Police Cyber Cell raided the offices of Probo Game and arrested two of its employees. The police allege that Probo Game is a Ponzi scheme and that it has defrauded investors of millions of rupees.
The app has also been accused of violating gambling laws in India. Gambling is illegal in India unless it is conducted by a state-licensed entity. Probo Game is not licensed by any state government, and therefore it is operating illegally.
The investigation into the Probo Game is ongoing. It is not clear what the outcome of the investigation will be, but it is likely that the app will be banned in India.
In addition to the investigation by the Mumbai Police Cyber Cell, the Reserve Bank of India (RBI) has also issued a warning against Probo Game. The RBI has said that Probo Game is not a legitimate investment platform and that it should be avoided.
The RBI warning is a serious blow to Probo Game. The RBI is the central bank of India and its warnings are taken very seriously by the financial community. The RBI warning is likely to lead to a decline in the number of people using Probo Game.
It is not clear what the future holds for the Probo Game. The app is facing serious legal challenges and it is likely that it will be banned in India. However, the app may still be able to operate in other countries. It is also possible that the app will be able to rebrand itself and continue operating in India.
Probo Game is registered in Gurgaon, India. The company’s registered office is on the 7th Floor, IndiQube Vatika Towers, Tower B, Sector 54, Gurugram, Haryana 122003. The company’s directors are Abhishek Goel, Vaibhav Singla, and Sahil Kapoor.
It is important to note that Probo Game is not registered with any gambling authority in India. Gambling is illegal in India unless it is conducted by a state-licensed entity. Probo Game is not licensed by any state government, and therefore it is operating illegally.
The app has been accused of being a scam and of violating gambling laws. The Mumbai Police Cyber Cell has raided the offices of Probo Game and arrested two of its employees. The police allege that Probo Game is a Ponzi scheme and that it has defrauded investors of millions of rupees.
The Reserve Bank of India (RBI) has also issued a warning against Probo Game. The RBI has said that Probo Game is not a legitimate investment platform and that it should be avoided.
Probo Game’s Funding Rounds
Probo Game has raised a total of $30 million in funding from a number of investors, including Sequoia Capital, Elevation Capital, and Fundamentum.
The company’s first round of funding was a $2.5 million seed round in March 2021. This round was led by Sequoia Capital and Elevation Capital. Other investors in this round included Rohit Bansal, Kunal Shah, Kunal Bahl, and Vaibhav Domkundwar.
In February 2022, Probo Game raised a $25 million Series A round. This round was also led by Sequoia Capital and Elevation Capital. Other investors in this round included Fundamentum, Blume Ventures, and other angel investors.
The company plans to use the funding to expand its team, develop new products, and grow its user base. Probo Game is also looking to expand into new markets, such as the United States and Southeast Asia.
It is important to note that Probo Game is not a publicly traded company. Therefore, it is not required to disclose its financial information to the public. As a result, it is difficult to say exactly how much money the company has raised or how it is spending its money.
the Reserve Bank of India (RBI) has issued a warning against Probo Game. The warning was issued on February 23, 2023, and it states that Probo Game is not a legitimate investment platform and that it should be avoided.
The RBI warning is a serious blow to Probo Game. The RBI is the central bank of India and its warnings are taken very seriously by the financial community. The RBI warning is likely to lead to a decline in the number of people using Probo Game.
The full text of the RBI warning is as follows:
The Reserve Bank of India (RBI) has come across information that Probo Game is operating a fraudulent investment scheme. Probo Game is not a registered investment platform with the RBI and is not authorised to collect deposits from the public. The RBI cautions the public against dealing with Probo Game and advises them to stay away from its investment schemes.
The RBI warning also includes a link to a fact sheet on investment fraud. The fact sheet provides information on how to identify and avoid investment fraud.
The RBI warning against Probo Game is a strong indication that the app is not a legitimate investment platform. If you are considering using Probo Game, I urge you to reconsider. There are many other legitimate ways to invest your money, and it is not worth risking your hard-earned money on an app that may be a scam.
The Probo Game app is not available on the Google Play Store for a few reasons.
- Google Play Store policies: The Google Play Store has a number of policies that apps must adhere to in order to be listed. These policies include requirements for age ratings, privacy policies, and financial disclosures. Probo may not have met all of these requirements, which is why it is not available on the Google Play Store.
- Google Play Store fees: Google Play Store charges a fee for apps that are listed on the store. Probo may not be willing to pay this fee, which is why it is not available on the Google Play Store.
- Google Play Store competition: There are a number of other opinion trading apps that are available on the Google Play Store. Probo may not want to compete with these apps on the Google Play Store, which is why it is not available in the store.
Full review: Probo
Company Rating
We see that the owner of the website is using a service to hide his/her identity. This may be because the owner does not want to get spammed. However, it also makes it difficult to identify the real owner of the website. As a result, websites hiding their identity get a slightly lower score.
Webshop Analysis
According to Tranco, this site has a low Tranco rank. This means that the number of visitors to this website is quite low. You can expect this from a small, starting or niche website. A popular website however should have a higher ranking.
The name of the website has been claimed for more than a year in advance. This is a good sign. Most website owners only register their domain name for one year and renew every year. Companies who register their domain name for a longer term (up to 10 years) mean to continue their business for a long time. Most scammers sell the name of their websites after a few months once their scam has become common knowledge.
This website was set set-up several years ago. We consider this a positive sign. The longer a website exists, the more it can be expected that it is legit. However, the age of the website is unfortunately no guarantee. In some cases, scammers have been found to buy existing domain names and start their malicious practices here. So checking a website remains a necessity.
We tried to analyze the content of the website but we failed. It may mean a temporary technical error, that the site is not active, that there is no content, or that the website is actively blocking our efforts to analyze the information it is offering. As we analyze more than 2 million websites every month we recommend caution. Extra research to determine if this website is legit or a scam is recommended.
Investigation Against Probo Game App
Mumbai police have filed an FIR against prediction app Probo under various sections of the Indian Penal Code, the Maharashtra Prevention of Gambling Act, 1887, and the Information Technology Act, 2000, reported India Legal Live.
” Indian government had tightened the rules on online gaming making it difficult for gaming apps to engage in online betting. Earlier action was taken on hundreds of apps involved in online betting. Now a similar case has come up in Mumbai where the business of online betting was run through IPL and various methods by an app in the name of Fantasy Gaming.
A police officer on the condition of anonymity, said that for a long time, there were complaints of online betting being done on the Probo app. After this, a policeman downloaded the app as a customer to investigate and play the game himself.
On investigation, it was revealed that this app was doing online betting in the name of fantasy gaming. Upon bare perusal of the app, one can find questions like “Which team will win the match? India or England” which does not require any element of skill and is betting which is prohibited.
The police FIR claims that not only the app is involved in online betting, but it was also not available on usual app stores like the Play Store or Samsung App Store. Investigation revealed that this app can be downloaded by the APK file to the customers only through the company’s website.
At the same time, to register on the app, the age limit set by the government was not being followed, in such a situation, there has been the possibility of many minors being associated with this betting app. Probo has not even taken permission from any authorized centre or Maharashtra government to play online games. Interestingly, as per Entrackr, Probo was going to raise $15M from Sequoia and Elevation Capital last year.
Taking cognizance of this app and the people associated with it, the police have started further action by registering a case under I. P. C., section 4. a, 5 of Maharashtra Game Act and section 66.d of Information and Technology Act. “
Haryana’s excise and taxation Dept serves Rs 1,500cr GST notice on Gurugram-based online betting firm Probo Game App
May 2023
In a first-of-its-kind action, Haryana’s excise and taxation department has issued a notice of Rs 1,500 crore to Gurugram-based M/s Probo Media Technologies Private Limited, an online betting company. The notice has accused the company of misclassifying its services.
The GST is applicable 100% on the face value of the bet and the tax rate on the chance of winning in betting, gambling, or horse racing in a race club is 28%. However, this firm was paying 18%, thus evading tax of Rs 1,500 crore.
The action taken on secret information by the Haryana GST intelligence wing found that the firm was misclassifying its work in order to evade tax. An investigation established that the firm was non-operational at the principal place of business declared by it on the GST portal. The firm’s actual premises were located and it was found to be running a mobile application called Probo and also a website/web portal of the same name.
The mobile app and the website allowed users to bet on real-life events in sports and non-sports categories. All the bets on the app/website were designed by the firm. “The users on the app or the website place their bets in a binary form, that is a yes or a no.
Every time a bet is placed on the platform, it searches for another user who would then accept the bet and place a counter bet. In case the first user wins, the money is deposited into the user’s online wallet and a platform fee/commission is deducted from all winnings and withdrawals,” an official said.
Ashok Kumar Meena, excise and taxation commissioner, Haryana, said, “The company has been issued notice for evading the tax and the action has come following the consistency probe by the GST intelligence wing of the state government. We are using the IT tools in an effective manner and on the basis of the IT tools and data analytics, we are generating red flex. In such cases, we are also initiating a detailed investigation. If someone is evading the tax, we are taking stern action against such defaulters. Based on continuous efforts, we managed to achieve one of the highest growth in India in the last financial year.”
Respond within 30 days
The notice reads, “If no cause is shown against the action proposed to be taken within 30 (thirty) days of the receipt of this notice or they do not appear before the adjudicating authority when the case is posted for hearing, the case will be decided ex-parte on the basis of the evidence available on records. If no mention is made, it would be presumed that they do not wish to be heard.”
User Complaints Against Probo Game App
There have been reports of scams associated with the Probo game app. Some of these scams include:
- Fake winnings: Users have reported being scammed by fake winnings notifications from the Probo game app. These notifications claim that the user has won a large amount of money, but when they try to withdraw the winnings, they are told that they need to pay a processing fee or taxes. The processing fee or taxes are usually never refunded, and the user loses their money.
- Fake customer support: Users have also reported being scammed by fake customer support from the Probo game app. These scammers pose as customer support representatives and try to trick users into giving them their personal information or financial details. Once they have this information, they can steal the user’s identity or money.
- Fake app: There is a fake version of the Probo game app that is available for download. This app is not affiliated with the real Probo game app, and it is designed to scam users. The fake app will ask users to deposit money, but it will never pay out any winnings.
If you are considering playing the Probo game app, it is important to be aware of these scams.
