Lawyers here, please enlighten me on this. Is Opinion Trading legal in India?

Community Forums Legal Advice India Lawyers here, please enlighten me on this. Is Opinion Trading legal in India?

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    • #36601 Reply
      Fiercerekha7982
      Participant
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        Fiercerekha7982
        PARTICIPANT
        March 12, 2025 at 4:12 pm
        Ok, so recently I came across an app named β€œProbo” [CAN I BE SUED FOR NAMING THE APP?]. Now, the thing is, you need to make yes/no predictions based on skill, that’s what THEY say. And then? If you win, you get profits.

        The bigger picture is, I’ve started to earn a lot from it recently, my profit-to-loss ratio is 83%, almost every trade I buy at low price, I win it. But, after all, what proves that β€œit requires skill” to know who will win the match? who will score more fours? LIKE WTF? HOW WILL YOU PREDICT NO. OF RUNS IN AN OVER WITH SKILL? WOW. And they also have this, who will have more strike rate, thing. Really? Isn’t it pure betting? I mean, I’ve never betted in my life but isn’t making predictions and risking money on it to win more, the simple definition of it?

        Also, they gave football, basketball, and other options like YouTube views, like this video will reach this amount of views by AB:XY am, or not?Oh, this is easy, check last 5 minute stats from last 30minutes, and boom, easy peasy. NOO! Sometimes, the views fluctuations are 10k (1) , 31k (2) , 11k (3) , 15k (4) , 3k (5) , 19k (6) , 27k (7).
        By (x), where x=number, I mean to say that first batch of 5 minutes, then next 5 minutes and more. The fluctuations are usually unpredictable, as sometimes, there are 0.00k views added in 5 minutes, because YouTube doesn’t updates views on time.

        So? Any queries on how it works, or something, please ask me. And do let me know, game of skill or chance? It’s 70% chance only, I can be wrong.

      • #36605 Reply
        Aparnastar251
        Participant
          A
          Aparnastar251
          PARTICIPANT
          March 12, 2025 at 4:44 pm
          Scam

          • #36608 Reply
            Fiercerekha7982
            Participant
              F
              Fiercerekha7982
              OP
              March 12, 2025 at 4:45 pm
              Well, I mean it’s there since 2019. They charge 20% commissions on profits and when I withdraw money, they deduct TDS for its definitely very sus, not because they’ll be a scam, but because it seems like clear betting.

          • #36604 Reply
            Mightywolf347
            Participant
              M
              Mightywolf347
              PARTICIPANT
              March 12, 2025 at 6:52 pm
              It falls under a grey area like Dream11. I personally think it’s illegal but these companies have deep pockets

            • #36603 Reply
              Sonaliknight376
              Participant
                S
                Sonaliknight376
                PARTICIPANT
                March 15, 2025 at 3:00 pm
                The way they operate is, using the loop hole of no law available that says it’s illegal

                • #36607 Reply
                  Fiercerekha7982
                  Participant
                    F
                    Fiercerekha7982
                    OP
                    March 15, 2025 at 3:02 pm
                    But isn’t it just betting? I mean any sane person can know, NO ONE CAN PREDICT a simple thing like no. of views. I have chatgpt+ subscription and even that can’t predict accurately even for once, then leave which team will win and what will be the price of Bitcoin. It’s laughable, honestly.

                    • #36610 Reply
                      Sonaliknight376
                      Participant
                        S
                        Sonaliknight376
                        PARTICIPANT
                        March 15, 2025 at 3:41 pm
                        Funny thing, offline betting is illegal and online is not

                        • #36612 Reply
                          User_e50d342e
                          Participant
                            U
                            User_e50d342e
                            PARTICIPANT
                            March 27, 2025 at 5:48 am
                            Its not true because lots of bank account freeze who plays online betting.

                            • #36614 Reply
                              Sonaliknight376
                              Participant
                                S
                                Sonaliknight376
                                PARTICIPANT
                                March 27, 2025 at 9:48 am
                                Every website has the option to fund the account via Paypal or other wallet, users can take this route to bypass the issue

                                • #36616 Reply
                                  User_e50d342e
                                  Participant
                                    U
                                    User_e50d342e
                                    PARTICIPANT
                                    March 27, 2025 at 10:42 am
                                    True but still withdrawing in bank is dangerous

                        • #36602 Reply
                          User_e50d342e
                          Participant
                            U
                            User_e50d342e
                            PARTICIPANT
                            March 27, 2025 at 10:43 am
                            Can you tell me whats your winning strategy ?

                            • #36606 Reply
                              Fiercerekha7982
                              Participant
                                F
                                Fiercerekha7982
                                OP
                                March 27, 2025 at 10:47 am
                                I’m watching cricket since 9+ years so I easily predict runs in session, like 2over, 3over, 4over and so on.

                                8-9/10 times I’m right about it. For YouTube, now I’m not just looking for 3-4 trends but I see if there’s a pattern in 4hour trends and usually, there is some pattern. Prediction of next view candle isn’t easy but it always goes right when a general trend is followed without discrepancy. I sometimes buy at low rate because I somehow predict that this video will/will not reach these views by the simple graphs they give, but ~2-5% I can be wrong and in loss too.

                                • #36609 Reply
                                  Fiercerekha7982
                                  Participant
                                    F
                                    Fiercerekha7982
                                    OP
                                    March 27, 2025 at 10:49 am
                                    Yesterday only, rr vs kkr, I made 17k from sessions, but you can call it good luck because it’s really not VERY predictable. I don’t call it a very hard earned skill because after all, it’s prediction-? But I’m doing this because no one can predict the stocks too, I heard some big traders and they call is a little gamble too, so why not gamble where I win 90-95%.

                                    • #36611 Reply
                                      User_e50d342e
                                      Participant
                                        U
                                        User_e50d342e
                                        PARTICIPANT
                                        March 28, 2025 at 3:41 am
                                        Nice and How do you make your investments?

                                        • #36613 Reply
                                          Fiercerekha7982
                                          Participant
                                            F
                                            Fiercerekha7982
                                            OP
                                            March 28, 2025 at 3:43 am
                                            As in? Elaborate your question please

                                            • #36615 Reply
                                              User_e50d342e
                                              Participant
                                                U
                                                User_e50d342e
                                                PARTICIPANT
                                                March 28, 2025 at 4:34 am
                                                Ok So, you must have to invest/bet huge amount for such a small return, right? Then what if there’s a sudden loss?

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