Dubbed “The Wagner Group of Sports Betting” by gambling industry experts, 1xBet represents the most sophisticated criminal gambling operation in modern history. This Russian-owned betting empire, founded by three fugitives subject to international arrest warrants, has transformed from a regional illegal operation into a global criminal enterprise generating an estimated $2 billion annually while exploiting children, fabricating sporting events, and laundering money through some of the world’s most prestigious football clubs.
Ownership and Criminal Charges:
1xBet is controlled by three Russian nationals—Roman Semiokhin, Dmitry Kazorin, and Sergey Karshkov—who face international arrest warrants issued by Russian prosecutors in 2020 for operating illegal gambling operations. Allegedly, in 2021 that the company made more than 63 billion rubles (US$655 million) in illegal gambling activities.
Founding and Corporate Structure
1xBet was founded in 2007 in Bryansk, Russia, by the three Russian nationals who would later become the subject of international criminal investigations. The company operates through a complex web of corporate entities designed to obscure ownership and evade regulatory oversight:
Primary Operating Entities:
- 1X Corp N.V. (Curaçao) – Primary international licensee holding Curaçao eGaming License
- Cyprus “Headquarters” (Limassol) – Public-facing operational base providing EU legitimacy
- Exinvest Limited (Cyprus) – Operational entity linked to payment processing
- Bookmaker Pub LLCÂ (Russia) – Domestic Russian operation trading as “1xStavka”
- Multiple subsidiary companies across various jurisdictions
The company’s franchise business model allows it to operate through local partners while maintaining centralized control, creating layers of legal protection and regulatory evasion opportunities.
Founders, Primary Owners, and Key Individuals
Sergey Karshkov – Co-founder and current CEO
- Former cyber intelligence officer
- Acquired Cypriot citizenship through “Golden Passport” program
- Subject to international arrest warrant issued by Russian prosecutors
Roman Semiokhin – Co-founder
- Co-developed initial business concept in Bryansk
- Subject to international arrest warrant
Dmitry Kazorin – Co-founder and alleged primary owner
- Key figure in corporate structure development
- Subject to international arrest warrant
- Reportedly died in Switzerland in 2023
Evgeniy Kiriushin – Senior operational executive
Alexandr Tikhonov – Senior operational executive
These individuals maintain operational control through the complex corporate structure while avoiding direct legal liability through jurisdictional arbitrage.
Financial Crime and Money Laundering:
India’s Enforcement Directorate is currently investigating 1xBet for alleged money laundering, tax evasion, and fraud involving “crores of rupees”. The investigation has expanded to question numerous Indian celebrities, including cricketers Yuvraj Singh, Suresh Raina, and Shikhar Dhawan, about their promotional activities for the platform.
Gambling Farms & Fraudulent Sports Operations:
Perhaps most shocking is how 1xBet has weaponized football’s global prestige to legitimize its criminal operations. Despite international arrest warrants for its founders, ongoing money laundering investigations, and documented exploitation of children, elite clubs like FC Barcelona and Paris Saint-Germain maintain lucrative sponsorship deals worth an estimated €15 million annually. The company’s spokesperson, “Alex Sommers,” was revealed to be entirely fictional—his photograph stolen from a CNN journalist—yet these partnerships continue unabated.
In 2024, Bellingcat (link) and Josimar (link) investigations revealed that 1xBet operates a massive network of fake sporting events, streaming up to 1,200 fabricated matches daily featuring fictitious teams with names resembling real clubs like “Arsenal,” “Real Madrid,” and “Barcelona”. These operations involve children as young as 14 and are filmed in Russia, Ukraine, and Belarus—countries where 1xBet is banned.
The most disturbing revelation: children as young as 14 are being exploited in these gambling farms. In venues traced to a children’s football school in Bryansk—the same Russian city where 1xBet‘s founders began their criminal careers—investigators found minors unknowingly performing for global gambling audiences. The Russian football blogger Viktor Kravchenko said in a 2021 Instagram post that young footballers were recruited to play in shifts and claimed games were fixed.
Some facilities partner with Putin’s United Russia Party and Gazprom, suggesting either remarkable indifference or outright complicity by Russian authorities.
Global Regulatory Actions:
1xBet has been banned or restricted in numerous jurisdictions, including the US, UK, France, Spain, Germany, Russia, and Ukraine due to regulatory violations. Ukraine recently confiscated nearly UAH 2 billion from 1xBet-related companies and revoked all licenses due to Russian connections.
Bankruptcy and Unpaid Winnings:
1XCorp, 1xBet‘s holding company in Curacao, was declared bankrupt by a Dutch Supreme Court in January 2023 for failing to pay customer winnings totaling approximately 830,000 euros.
Payment Facilitators and Financial Network
Despite extensive regulatory restrictions, 1xBet maintains operations through a sophisticated network of payment facilitators and financial service providers.
Primary Payment Processors
Processing.com – Global merchant payment processing partner since 2017, providing:
- Multi-jurisdictional acquiring services
- Convergent acquiring to optimize approval ratios
- Single integration access to multiple acquirer networks
- Support during high-traffic events (FIFA World Cup referenced)
Regional Payment Partners:
- MoonPay – Cryptocurrency conversion services
- Khalti (Nepal) – Digital wallet services (95% of transactions)
- IME Pay (Nepal) – Mobile money services
- Connect IPSÂ (Nepal) – Interbank payment system
- Nagad (Bangladesh) – Mobile financial services
- bKash, Rocket (Bangladesh) – Mobile banking
Banking Relationships
Documented Banking Partners:
- NIC Asia Bank (Nepal) – Direct banking services
- Sterling Bank, FCMB, Zenith Bank, Access Bank, Providus Bank (Nigeria) – Internet banking
- Various regional banks across Africa, Asia, and South America
Alleged Connections
The Rainbet Connection
Some insiders claim that the offshore casino Rainbet, for example, is also affiliated with 1XBet. While direct ownership connections are not explicitly documented in public records, several circumstantial factors raise questions:
Similar Operational Patterns: Both platforms use identical licensing jurisdictions (Curacao/Anjouan), target similar restricted markets, employ crypto-focused payment systems, and maintain comparable affiliate marketing structures.
Infrastructure Sharing: Some industry observers have noted similarities in platform architecture and operational methodologies, though specific technical connections require further investigation.
Regulatory Scrutiny: The emergence of Rainbet coincides with increased regulatory pressure on 1xBet globally, potentially suggesting operational restructuring or brand diversification strategies commonly employed by offshore operators facing enforcement actions.
Other Suspected Connected Brands
Industry analysis suggests operational connections to:
- Melbet – Similar corporate structure and operational patterns
- 22bet – Shared technical infrastructure
- Betwinner – Common ownership indicators
- 1XBit – Cryptocurrency-focused variant
Regulatory Risk Assessment
Both platforms exhibit hallmarks of offshore operators that prioritize market access over regulatory compliance. The documented pattern of 1xBet‘s violations—including money laundering, fake sports operations, unpaid winnings, and celebrity endorsement schemes—establishes a concerning precedent for any potentially affiliated operations.
The lack of transparent ownership disclosure for Rainbet, combined with its operational similarities to 1xBet, warrants heightened scrutiny from both regulators and potential users, particularly given the extensive financial crime allegations surrounding 1xBet‘s documented activities.
Call for Information
FinTelegram seeks additional information from industry insiders regarding:
- Payment Processing Relationships – Details on financial service providers facilitating 1xBet operations
- Corporate Structure – Information on beneficial ownership, subsidiary relationships, and shell company networks
- Regulatory Communications – Internal communications between 1xBet and regulatory authorities
- Sports Partnership Details – Contract terms, due diligence processes, and compliance protocols
- Technical Infrastructure – White label providers, software vendors, and operational partners
- Money Laundering Mechanisms – Specific methods for moving funds across jurisdictions
Confidential submissions can be made through:
- Encrypted communications channels
- Anonymous document submission systems
- Intermediary legal counsel
- Whistleblower protection programs
Your information could be instrumental in exposing the full scope of this criminal network and protecting consumers from continued fraud and exploitation.
Contact FinTelegram for secure communication protocols and source protection procedures.
