Is crypto betting legal in India?

Cryptocurrency betting in India operates in a legal gray area, as there are no specific laws that explicitly permit or prohibit it. The prevailing view is that since gambling itself is largely illegal, any form of betting with cryptocurrencies is also not permitted. The Indian government does not recognize cryptocurrencies as legal tender, further complicating their use for gambling.

The Prevention of Money Laundering Act, 2002 (PMLA) was recently amended to include transactions involving virtual digital assets (VDAs), which means that platforms dealing with crypto assets are now considered 'reporting entities.' They are required to register with the Financial Intelligence Unit of India (FIU-IND) and adhere to strict KYC and reporting obligations.

The most significant recent development is the Promotion and Regulation of Online Gaming Act, 2025. Although not yet in force, this act is expected to impose a blanket ban on all real-money online games, which will also apply to stakes made in the form of cryptocurrencies, effectively making crypto betting illegal nationwide.