Pune: Pakistani-Owned Betting Platform Busted by ED; High-Profile Bollywood Links Exposed
Pune, 18th December 2024: The Directorate of Enforcement (ED), Ahmedabad Zonal Office, has intensified its investigation into the illegal operations of the betting website “Magicwin” by conducting search operations across 21 locations in Delhi, Mumbai, and Pune on 10th and 12th December 2024. These raids were carried out under the Prevention of Money Laundering Act (PMLA), 2002, as part of an ongoing probe into the illegal broadcasting of the Men’s T20 Cricket World Cup matches and various online betting activities.
During the searches, the ED froze ₹30 lakh in bank funds and seized numerous incriminating documents and digital devices. The investigation was initiated based on an FIR lodged by the Cyber Crime Police in Ahmedabad against Magicwin and its associates.
Magicwin’s Pakistani Connection and Betting Modus Operandi
ED’s investigation revealed that Magicwin, disguised as a gaming website, is owned by Pakistani nationals. Its operations are largely managed by Indian nationals residing in Dubai. Further findings indicate that the games hosted on the website are neither live nor genuine but re-telecasted versions of games originally played in countries like the Philippines, where betting is legal. Magicwin’s operators manipulate the betting process, including deposits, wagers, and withdrawals.
According to the ED, the funds deposited by bettors are funneled through multiple shell companies and mule bank accounts before being withdrawn in cash, converted into cryptocurrency, or sent to Dubai via hawala channels. Additionally, winnings are transferred to bettors’ accounts through merchant accounts linked to shell companies via payment gateways or domestic money transfer (DMT) mechanisms.
Celebrity Endorsements and Advertising Campaign
Magicwin’s promotional activities have also come under scrutiny. The platform hosted a lavish launch party in India attended by Bollywood celebrities, who endorsed the platform through advertisements, video shoots, and social media posts. The betting website also invested heavily in out-of-home (OOH) advertising, including hoardings across Gujarat and Maharashtra.
Seizures and Financial Impact
The ED disclosed that the profits generated by Magicwin amounted to over 50% of the total deposits made by players. As of now, the agency has conducted 68 raids in the case, freezing or seizing assets worth ₹3.55 crore.
