ED Crackdown on Magicwin: Illicit Betting Empire Exposed

The ED's Ahmedabad Zonal Office raided 21 locations tied to Magicwin for illegal broadcasting and betting linked to the T20 World Cup. Owned by Pakistani nationals, Magicwin disguised itself as a gaming site but engaged in extensive betting operations, laundering profits through shell accounts and cryptocurrencies.

The Directorate of Enforcement (ED) in Ahmedabad has acted upon suspicions of illegal activities linked to Magicwin, a site allegedly involved in the unauthorized broadcasting of Cricket Men's T20 World Cup matches and various online betting maneuvers. In a decisive move, the agency raided 21 sites across Delhi, Mumbai, and Pune.

The ED's investigation is rooted in an FIR by Ahmedabad's Cyber Crime Police against Magicwin. Findings suggest that while the platform masquerades as a gaming hub, ownership traces back to Pakistani nationals. Meanwhile, Indian associates, primarily based in Dubai, run day-to-day operations.

Further inquiries have uncovered that Magicwin exploited betting games from jurisdictions where gambling is legal, re-broadcasting them with duplicated APIs. Monetary flows from bettors were funneled through intricate networks of shell accounts, culminating in profits that flowed into cryptocurrencies, cash, or Dubai via hawala systems.

The probe also unearthed promotional activities involving Bollywood celebrities, who participated in Magicwin's launch event and extensive marketing campaigns. The ED disclosed that over 50% of total player deposits have been pocketed as profits. Moreover, 68 total searches have resulted in seizures worth approximately Rs 3.55 crore, with further investigation in progress.

(With inputs from agencies.)