1xBet

1xBet is an online gambling company licensed by Curaçao eGaming License. It was founded in 2007 and registered in Cyprus. In 2019, they experienced considerable growth, briefly sponsoring Chelsea FC and Liverpool FC. The organization operates a franchise business model.
Expansion
Since the company's inception in 2007, 1xBet has operated within the Indian Market.
In 2018, 1xBet made partnerships with the Nigerian Football Federation and African Confederation of Football. Later, in January 2022, 1xBet was granted a Nigerian national licence and expanded into the region.
In 2019, 1xBet announced that the company had signed an agreement with MGA Games, expanding its portfolio to include a range of new online slot and video bingo games.
In March 2020, 1xBet confirmed the company’s expansion into the Mexican market following its approval for an operational licence. The company also announced its plan to focus on the esports betting market within the Latin American country.
In March 2022, 1xBet expanded into the Chilean market via the signing of a partnership agreement with the Chilean football championship, with the company becoming part of the 138 matches of the 2022 season.
During August 2022, 1xBet announced that – as part of its expansion plan – the company had acquired a partnership deal with local Latin American payment company PayRetailers. The partnership saw the companies deploying a payment strategy tailored to the Latin American region.
In August 2022, 1xBet signed an operation agreement with DS Virtual Gaming (DS VG). The agreement resulted in 1xBet expanding its virtual sports offering with DS VG’s virtual games, including RacingDogs, RacingHorses and Roulette.
Sponsors
In May 2019, OneTouch, a supplier of mobile slot and table games, announced an agreement with 1xBet. The deal would see OneTouch’s full library of both mobile and table games added to the 1xBet games portfolio.
In July 2019, FC Barcelona announced they had signed a partnership with 1xBet to name the company as the team's new global partner. The partnership will see the organizations working together in different activities with the partnership running until 30 June 2024.
In May 2022, 1xBet signed an agreement to become the title partner of esports organisation Team Spirit.
During May 2022, esports organization OG Esports announced that the company had signed a sponsorship deal with 1xBet. The agreement names 1xBet as OG's official betting sponsor, with the company logo to appear on Dota 2 roster jerseys.
On 1 August 2022, Paris Saint-Germain announced 1xBet as their new regional partner in Africa and Asia.
In August 2022, E-sports gaming organization Tundra Esports announced a three-year contract naming 1xBet as Tundra's official betting sponsor, with the company logo to appear on Dota 2 roster jerseys and events to take place on the 1xBet website.
In September 2022, 1xBet were announced as the 'Official Regional Partner' of French football club LOSC Lille. The agreement grants 1xBet promotional rights to use the club's logos and player images, in addition to match advertising.
During February 2023, The Professional Fighters League (PFL) announced a new sponsorship deal with 1xBet. The deal names 1xBet as the official sportsbook for the PFL in Latin America and Saharan Africa. Also in February 2023, the Tajikistan Higher League announced 1XBET as their new title sponsor.
In May 2023, Samuel Eto signed a two-year contract to become 1xBet's brand ambassador.
In 2023/24 season Of Indian Super League club Mohun Bagan Super Giant sign 1XBET as shirt sponsor.
Accolades
In June 2023, 1xBet was named ‘Sportsbook Operator of the Year’ at the SiGMA Americas Awards.
Controversies
Following an investigation by The Sunday Times in 2019, 1xBet's license was rescinded by the UK Gambling Commission (UKGC) after revelations of involvement "promoting a "pornhub casino", bets on children's sports and advertising on illegal websites."
1xBet features on Russia's payment processor and Federal Tax Service blacklist.
Criminal investigation
In early 2020, awareness was raised of an unlawful practice.
Later in August 2020, the Directorate of the Investigative Committee for the Russian Bryansk Region released the names of the supposed creators of 1xBet. These are "Sergey Karshkov", "Roman Semiokhin" and "Dmitry Kazorin".
The trio are suspected of organizing the online bookmaker 1xBet, and are defendants in a criminal case, with penalty of imprisonment. A number of estates in Russia with a total value of 1.5 billion rubles were seized. The Investigative Committee of Russia has put them on the international wanted list. All three have Cypriot citizenship.
In 2021, Parlan Law Firm announced a search for victims of 1Xbet in Russia. The company has organized a service for filing applications to the investigative committee. They filed a lawsuit against the owner of the Russian version of 1Xbet - bookmaker 1XStavka.
Bankruptcy
In November 2021 1xBet's subsidiary company, 1хCorр MV, filed for bankruptcy in a Curaçao court after it refused to refund a group of gamblers represented by the foundation for curaçao gaming victims. The company was declared bankrupt in June 2022 but continued to operate.
The individuals state that 1xBet structurally deniеs the legitimate wins of players with millions of euros in unpaid winnings.
In January 2023, 1xBet was declared bankrupt by the Dutch Supreme Court in the Netherlands.
References
External links
Russian companies established in 2007
Online casinos
Bookmakers