However, the ultimate owners of this business do exist. This system was built for about 15 years so that 1XBet could operate both legally and illegally, and the real owners were protected from claims by government agencies and law enforcement agencies in different countries. Legally, there is no single ultimate owner in this group, and it may seem to be no connection between some of the companies.

Some companies are responsible for the development, some for marketing, others for finance, intellectual property, and other activities. It is a multi-level system of offshore enterprises that are intertwined with people, services, and contracts. Officially, 1XBet is a large fragmented structure made up of hundreds of companies around the world. He and his family are associated with some businesses in Ukraine and abroad. This businessman from Dnipro city has other dubious assets. The company has one “owner”, Serhiy Petrovych Tsybin. This is the conclusion reached by the Ukrainian Commission for the Regulation of Gambling and Lotteries (KRAIL) specialists and this is why they issued two licenses to Your Betting Company LLC: one for bookmaking and another for organizing gambling on the Internet. It was registered in June 2021 and, from a legal perspective, does not have any connection to the russian company, apart from the brand. The “official” 1XBet registered in Ukraine will operate on behalf of Your Betting Company LLC (Ukr. This way, in PrivatBank, payments to the betting site were named housing and communal services.

A company has russian final beneficiaries, yet it was licensed during the war in Ukraine and now, it is trying to use its influence to circumvent sanctions in various countries.ġXBet worked in Ukraine even before gambling was legalized in the country, it was laundering money via miscoding. To reveal such business, we publish a new study on the activities of the 1XBet bookmaker and the influence it has. Readers have rightly pointed out that it is not only European countries but also Ukraine that host russian business that tries to circumvent sanctions. This study has been translated into many languages and has caused a significant resonance in the Ukrainian and foreign media. On June 14, 2022, we published a joint study by the Economic Security Council of Ukraine and the international intelligence community InformNapalm on how companies from Switzerland, Italy, and Germany help russia circumvent sanctions to produce weapons.

1xbet com ua