Probo
Probo was an Indian opinion trading platform that enabled retail users to place real-money bets on binary Yes/No outcomes of real-world events. It served over 50 million registered users before shutting down in August 2025 following India's Online Gaming Bill.
- Company typePrivate
- Founded2020
- HeadquartersGurugram, India
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What Probo does
Probo was an Indian opinion trading platform that enabled retail users to place real-money bets on binary (Yes/No) outcomes of real-world events including sports, politics, entertainment, and current affairs. Founded around 2019-2020 and headquartered in Gurugram, Haryana, the platform operated as a self-serve mobile application where users deposited funds and wagered on event outcomes. Probo positioned itself as a skill-based prediction market rather than a gambling platform, seeking to differentiate through the informational and analytical element of its users' predictions. The company drew funding from prominent Indian venture firms including Fundamentum, Sequoia Capital India, and Elevation Capital.
The platform scaled rapidly to over 50 million registered users and achieved Rs 459 crore in FY24 revenue, representing 5.4x year-over-year growth. Probo generated revenue through transaction fees on user wagers, operating a product-led growth model with app-based distribution and organic viral acquisition. Despite its scale, the company faced existential regulatory headwinds. In July 2025, India's Enforcement Directorate raided Probo's offices and froze Rs 284.5 crore in assets under the Prevention of Money Laundering Act, alleging the platform operated illegal betting operations disguised as skill-based gaming. Following the passage of India's Online Gaming Bill in August 2025, which eliminated the skill-versus-chance legal distinction and banned real-money gaming, Probo shut down operations. The company's website currently displays a notice confirming closure and warning users about scam entities falsely claiming to represent the business.
Probo firmographics
Firmographics- Name
- Probo
- Legal name
- Probo Media Technologies Pvt. Ltd.
- Website
- https://probo.in
- Company type
- Private
- Founded year
- 2020
- Operating status
- Closed
- Headcount range
- 51–100 employees
- Short description
- Probo was an Indian opinion trading platform that enabled retail users to place real-money bets on binary Yes/No outcomes of real-world events. It served over 50 million registered users before shutting down in August 2025 following India's Online Gaming Bill.
- Ownership category
- akta.pro rank
Probo industry classification
Industry- Product category
- Real-Money Prediction Trading
- NAICS
- Investment Banking and Securities Intermediation (523150)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Money Markets & Repo Trading Platforms (FSAFANAG)
- akta.pro secondary industry
- In-Game Wallets, Stored Value & Virtual Currency Issuance (MPAFAJAB)
Keywords
Where Probo is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Probo business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel
Revenue model
- Trading Fees/Transaction Revenue: Probo generated revenue through transaction fees on user bets placed on opinion trading outcomes. Users deposited money and placed wagers on binary (Yes/No) outcome questions, with the platform retaining a portion of each transaction as revenue.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Probo product offering
Product offeringCore offering
Probo operated a mobile-app-based opinion trading platform that allowed individual users in India to deposit funds and place monetary predictions on binary (Yes/No) questions tied to real-world events such as sports, politics, and entertainment. The platform retained a portion of each wager as transaction revenue and grew to over 50 million registered users before shutting down in August 2025 following India's Online Gaming Bill 2025.
Product overview
Probo operated as a single unified opinion trading platform where users could place bets on Yes/No propositions about real-world events. The platform functioned as a mobile app-based service where users predicted outcomes of events. Probo has since shut down operations following India's Online Gaming Act 2025 which banned real-money gaming platforms.
Differentiator
Problem solved
Functional benefit
Products and services
- Probo Opinion Trading Platform
Quantifiable outcome
- Over 50 million registered users
- +1 more outcomes
Companies that use Probo
Customer profileSegments1 record
Ideal customer profiles1 record
Probo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Probo partnerships and signals
Strategic signalScale indicators7 records
Recent moves6 records
Expansion highlights2 records
Probo competitors and assessment
Company assessmentDirect peers
- Dream11: India's largest real-money fantasy sports platform with over 200M users. Most directly comparable to Probo as an Indian real-money gaming platform operating on skill-based arguments, facing similar regulatory scrutiny under the Online Gaming Bill 2025.
- Mobile Premier League (MPL): Indian real-money gaming platform offering multiple game formats with monetary stakes. Comparable to Probo in target market, mobile-first distribution, and regulatory exposure to India's real-money gaming ban.
- Games24x7: Indian real-money gaming company behind My11Circle and RummyCircle. Comparable business model (real-money skill gaming), similar customer base, and similar regulatory vulnerability to the 2025 Online Gaming Bill.
- WinZO: India-based real-money gaming platform offering 100+ casual and competitive games with monetary stakes. Directly comparable to Probo in operating model, target segment, and current regulatory exposure.
- Adda52: Indian real-money online gaming platform (rummy/poker) with skill-based positioning. Comparable regulatory argument framework and Indian consumer base, though different game vertical.
Broad incumbents
- Dream Sports: Parent of Dream11 and broader Indian gaming/sports technology portfolio. Operates in the same real-money gaming ecosystem as Probo with much larger scale and was also impacted by the Online Gaming Bill 2025.
- Nazara Technologies: Listed Indian gaming and sports media company with diversified real-money gaming exposure. Comparable to Probo in market and regulatory environment, with broader portfolio and public market liquidity.
Emerging players
- Polymarket: Crypto-based prediction market platform offering binary outcome event contracts. Closest conceptual peer to Probo's opinion trading model, but operates in different regulatory jurisdiction using blockchain rails.
- Kalshi: US CFTC-regulated prediction market exchange offering event contracts on real-world outcomes. Represents the regulated version of Probo's core proposition, validating the skill-based trading argument Probo attempted to make in India.
- PredictIt: US-based prediction market focused on political and economic events. Functionally similar to Probo's real-world event prediction product but operating under CFTC no-action relief rather than Indian gaming law.
Market position
Strengths3 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Probo social profiles
Digital presenceProbo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Probo leadership team
Management profileNumber of profiles
Profiles2 records
Probo funding detail
Funding detailFunding overview
Funding rounds2 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Probo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Probo
What does Probo do?
Probo operated a mobile-app-based opinion trading platform that allowed individual users in India to deposit funds and place monetary predictions on binary (Yes/No) questions tied to real-world events such as sports, politics, and entertainment. The platform retained a portion of each wager as transaction revenue and grew to over 50 million registered users before shutting down in August 2025 following India's Online Gaming Bill 2025.
Is Probo a public or private company?
Probo is a private company. It is classified as venture growth investor backed and is currently closed.
When was Probo founded?
Probo was founded in 2020. It employs 51 to 100 people.
Where is Probo based?
Probo is headquartered in Gurugram, India, in the Asia region.
How does Probo make money?
One revenue line is on record: trading Fees/Transaction Revenue.
Who are Probo's main competitors?
Direct peers on record are Dream11, Mobile Premier League (MPL), Games24x7, WinZO and Adda52. Broad incumbents are Dream Sports and Nazara Technologies. Emerging players are Polymarket, Kalshi and PredictIt.
Does Probo have an API?
No public API is recorded for Probo.
What industry is Probo in?
Probo's product category is Real-Money Prediction Trading. Its primary akta.pro industry code is FSAFANAG, Money Markets & Repo Trading Platforms, with a secondary code of MPAFAJAB, In-Game Wallets, Stored Value & Virtual Currency Issuance. Its NAICS code is 523150 and its SIC code is 6211.