Ball Street

Betting operator 1XBet, one of football’s biggest and most controversial sponsors, has been declared bankrupt for refusing to pay out to customers and faces losing its licence. At the same time the company is expanding its global operations

By Steve Menary

1XBet sponsors high profile clubs and leagues from FC Barcelona to Italy’s Serie A and is expanding across Africa and South America but has been declared bankrupt in the Caribbean island of Curaçao, where the company has a licence that allows it to offer bets around the world.

1XBet is being pursued in a class action lawsuit by the Foundation for Representation of Victims of Online Gaming (SBOK), which represents a group of players alleging that they are due a total of 1,6 million Netherlands Antillean guilders (roughly 830 000 euro) in winnings.

A court in Curaçao first ruled against 1XBet’s parent company 1XCorp last year. An appeal was dismissed by a Curaçao court on 6 May and 1XBet was declared bankrupt, according to court documents obtained by Josimar.

A local lawyer, Arend de Winter, has been appointed as a trustee to wind up the company. As part of the bankruptcy proceedings, Mr de Winter has written to Curaçao eGaming, which issued 1XBet’s licence, to request that the company’s licence be cancelled.

Mr de Winter said: “In insolvency land, the trustee is in charge. The fact of the matter is that I am in charge of the company that holds the master lic...

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