1XBET Closes Site After the Times Investigation
Famed sportsbook 1XBET has been shut down following a report by The Sunday Times for a host of breaches in gambling rules. The Russian-owned gambling site has been allegedly taking bets for underaged sports featuring participants younger than 18. They were also promoting a porn-themed casino and accepting cockfighting betting options. The award-winning bookmaker stands to lose a lot since its affiliation with global sports franchises in FC Barcelona and English Premier League clubs Chelsea Liverpool, and Tottenham Hotspurs.
1XBET sports betting site has been operating under false pretences and without a license in the UK. Instead, the online betting site operated under a license held by white-label partner FSB Technology (UK) Ltd. The UK Gambling Commission has since conducted an investigation into 1XBET overall business practices.
UKGC Probes 1XBET Sports Betting Site
The UK Gambling Commission has responded promptly to The Sunday Times’ report. They cited 1XBET movie file-sharing platform as in breach of piracy laws. The most disreputable charge that has been directed at the gaming operator has to be the nude croupiers at the gaming site dubbed ‘pornhub casino’. The gambling website was quick to offer an explanation. A representative said that this was likely a result of “third-party networks or partners”. The spokesperson has said that an immediate investigation will be conducted into the allegations.
Master License Holders of Curacao-Based Gambling Corridor
Recently, the Times published an investigation naming 1xBet as one of four master licence holders of a Curacao-based gambling corridor. This report estimated that over 12,000 online operators were authorised through contracts with those four licence holders - Cyberluck Curacao N.V., Gaming Curacao, Curacao Interactive Licensing N.V., and Antillephone NV - who approve sub-licenses to applicants at annually fees between €35,000 and €45,000. Combinedly, these licences are purported to drive in around €120 million every year for each master licence holder. In response to the findings of the investigation, 1XBET closed their site immediately.
The History of 1XBET Sports Betting Site
Originally, the sportsbook was based in Russia and later moved to Cyprus receiving licensing in Curacao. The profile of the casino was boosted by having partnerships with elite football clubs, which gave the bookmaker a global audience. After the closure, players were worried about their money, however, the platform provider for 1XBET, FSB Tech reassured them that their accounts will still reflect their balance after the investigation is finished. To learn of the fate of the online bookie, stay tuned for the latest Philippines sports news online.