1XBET Closes Site After the Times Investigation
Renowned sportsbook 1XBET has been forced to shut down in the wake of a report from The Sunday Times, which uncovered a slew of rule violations. The Russian-owned betting site allegedly took wagers on underage athletes—less than 18 years old—competing in various sports. They also ran marketing campaigns touting a casino that had a distinctly porntastic theme, and they accepted bets on cockfighting. With its global reach and significant partnerships with sports franchises like FC Barcelona and Chelsea in the English Premier League, as well as Liverpool and Tottenham Hotspur, the well-known bookmaker faces the potential of a significant financial hit.
The 1XBET sports betting site was operating under false pretenses and without a license in the UK. Instead, the online betting site operated under a license held by its white-label partner FSB Technology (UK) Ltd. The UK Gambling Commission has since looked into 1XBET overall business practices.
UKGC Probes 1XBET Sports Betting Site
The Sunday Times report has drawn a prompt response from the UK Gambling Commission. They called out 1XBET, along with its associated companies, for breaching the piracy laws. The most disreputable accusation leveled at the gaming operator has to be that of providing nude croupiers at the gaming site designated ‘pornhub casino’. The gambling website wasted no time in providing an explanation. A spokesperson said that this was likely a result of "third-party networks or partners". An immediate investigation into the allegations will be conducted, said the spokesperson.
Master License Holders of Curacao-Based Gambling Corridor
A recent investigation by the Times named 1xBet as one of four master license holders in a Curacao-based gambling corridor. The report estimated that over 12,000 online operators were authorized via contracts with those four license holders — Cyberluck Curacao N.V., Gaming Curacao, Curacao Interactive Licensing N.V., and Antillephone NV — who themselves approve sub-licenses to applicants at annual fees between 35,000 and 45,000 euros. Pick a number; these licenses are purported to bring in around 120 million euros a year for each master license holder. In response to the findings of the investigation, 1xBet closed its site immediately.
The History of 1XBET Sports Betting Site
The sportsbook started out in Russia before moving to Cyprus, where it obtained a license from Curacao. Partnerships with elite football clubs enabled the casino to reach a global audience, and its profile was lifted even more when it was rumored that it was working with former Gibraltar regulator, the UK Gambling Commissioner. Then came the unexpected closure. Players were fretting over their balance, but FSB Tech, the platform provider for 1XBET, told players not to panic and that once the investigation is finished, their accounts will look much the same as they did before the 1XBET appeared in the SA press.