Magicwin Exposed: The Betting Scandal with Glitz and Glamour

The Enforcement Directorate uncovered illegal activities of a betting website, Magicwin, linked to Pakistani nationals. The site illicitly broadcasted T20 matches and mishandled funds. Incriminating documents and sizable assets were seized during raids in India. Several celebrities also promoted this facade.

The Enforcement Directorate (ED) has conducted fresh searches against Magicwin, a betting website allegedly owned by Pakistani nationals, which illegally broadcasted Men's T20 Cricket World Cup matches. These searches, which took place between December 10-12 in Delhi, Mumbai, and Pune, are part of an ongoing case by the federal agency.

The ED's investigation, under the Prevention of Money Laundering Act (PMLA), traces its origins to a First Information Report (FIR) by the Ahmedabad Police's cyber crime unit in Gujarat. During raids, bank deposits worth Rs 30 lakh were frozen, and incriminating documents were seized, according to an ED statement.

Magicwin is described as a betting site disguised as a gaming portal, largely operated by Indian nationals based in Dubai. Investigations reveal that the profits, often exceeding 50% of total player deposits, were funneled through shell accounts and invested in cryptocurrencies, or transferred abroad via Hawala. Prominent celebrities who endorsed Magicwin at a launch event are now under scrutiny.

(With inputs from agencies.)