1xBet has found itself the target of a Sunday Times piece focused on irresponsible business practices. The report accuses the brand of allegedly circumventing a number of gambling regulations…
…and dwelling in borderline illegal practices. Representatives from the company have dismissed all accusations.
Irresponsible Business Practices:
The report goes into specifics regarding the allegations. 1xBet, a live betting and online casino operator, is accused of a number of things, including running ads on prohibited websites. Representatives from the company have…
…denied such accusations, claiming any ads appearing on prohibited sites was done without their prior knowledge or consent.
“We take very seriously the allegation that 1xBet’s brand has been promoted on prohibited sites,” a spokesperson for the brand, said.
“We have launched an immediate internal investigation to ensure we improve our monitoring in this regard.”
The company has expressed its intent to fully cooperate with UKGC in resolving the issue.
“We are an established, international gaming company, which abides by all the relevant laws and regulations in every jurisdiction in which we operate,” the spokesperson has added, “We are fully committed to creating an environment that protects people from irresponsible gambling and addiction.”
The company ceased its operation in the United Kingdom, which they ran through FSB Tech.
In the meantime, the UKGC has refrained from commenting on the matter aside from stating that there is an ongoing inquiry into FSB Tech and their relationship with 1xBet.
Although on the defense, 1xBet has announced that they are already working on returning to UK regulated markets.
“We wish to reassure you that our application for a full UK operating license is on track and we are fully committed to the UK market,” the spokesperson said.
The company has also taken steps towards ensuring that such incidents don’t occur in the future. They have contracted UK’s leading consultants specialized in iGaming, gambling and the UK regulated market. The popular operator has recently signed a number of high tier sponsorships and deals in the UK. Namely, they have signed agreements with both Chelsea and Liverpool football clubs.
Having to cease their operations in the light of this incident might put some strain on these sponsorships.
Fans of their blackjack and other live casino titles will also have to wait for this entire situation to be resolved.
About:
1xBet is an online betting company that offers services ranging from online casinos, live casinos and bingo to virtual sports, live betting…
…and everything in-between.
The company is licensed in Curacao where they also have their headquarters. With that said, it covers a large portion of the European markets with its services.
They have over 400,000 online users, and that number is constantly growing. The wide array of services offered makes them one of the largest operators of their kind on the market. Aside from…
…regular offerings, it also holds annual tournaments where players can potentially win valuable prizes. Users of this betting company can place wagers on a variety of different sports aside from the favorite few. They offer cycling, golf, skiing and a number of other individual sports.
Source: “1xBet rejects allegations of irresponsible behavior” https://www.igamingbusiness.com/news/1xbet-rejects-allegations-irresponsible-behaviour. iGaming Business. August 13, 2019.
