Gaming firm 1xbet declared bancrupt

Kenyans punters might be in for a rude shock as Dutch court declares Russian gaming firm 1xbet bancrupt.

The company has not collapsed yet but is unable to settle huge winnings.

This is not the first time that 1xbet has been declared insolvent.

The company that sponsors various sports clubs and online games is said to stay afloat using porn stats who it uses to lure punters to its sites.

1xbet has appealed the decision to be declared bancrupt at the Supreme Court in the Hague.

The betting company’s bankruptcy, which is also a prominent sponsor of football teams Barcelona and Paris Saint-Germain (PSG), was covered initially by investigative sports journalism site Josimar, on Jan. 20.

As per esports.gg, a website that tracks all esports news. The writer Michael Hassall, 1xbet lost its license in Russia in 2021 and has been forced to operate Illegally in some markets.

The world’s top mone laundering destination, London, allows 1xbet operations. So does Kenya and Nigeria.

Complaints against 1xbet include not honoring winnings, poor service, slow withdrawals, and accusations of scamming.

Kenyan punters are warned to withdraw their monies abs stop using the site.