Who is Behind 1xBet — Owners of the Famous Bookie and Casino

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Xenia Luch

18 April 2024

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1xBet founders

Pictured: Sergey Karshkov, Roman Semiokhin, Dmitry Kazorin

Founding Trio of 1xBet: Who Are They?

1xBet, a renowned name in the gambling world, was established in 2007. The platform was built by three individuals from Bryansk, Russia: Roman Semiokhin, Dmitry Kazorin, and the late Sergey Karshkov. For many years, the identities of the founders were not publicly known. 

It was only in 2020 that the Investigative Committee of Russia revealed their names. Roman, who was part of the venture from the very beginning, is considered the main creator and beneficiary of 1xBet. 

Today, they are on an international wanted list due to a criminal case related to the illegal organization and conduct of gambling.

The Inception of 1xBet

In 2007, Roman Semiokhin embarked on a venture in the betting industry by opening his 1st betting shop under the Fonbet franchise. This marked the beginning of what would later become 1xBet. 

By 2012, Semiokhin’s enterprise had grown to encompass over 300 betting shops, extending far beyond his home region of Bryansk, which led him to part ways with Fonbet in the same year.

Following this decision, businessman Alexander Mironov came into the picture, helping with a license: he brought these betting shops under his LLC and took a share of the profits.

Eventually, their business visions diverged, leading Semiokhin to buy out Mironov’s company, Bukmeker Pub LLC, in 2014.

This acquisition included the license, which enabled Semiokhin to continue operating his own betting shops, and – together with Sergey Karshkov and Dmitry Kazorin – lay the groundwork for the 1xBet platform. 

Legal Entanglements

The trajectory of 1xBet took a turn in 2014, when the founders established Techinfusion Ltd in Gibraltar, marking a period of strategic partnerships with Russian credit organizations. 

This expansion, however, came under scrutiny when The Investigative Committee of Russia, acting on information from the Federal Tax Service, initiated a criminal case for the period of their activity from 2014 to 2019. The allegations centered around the illegal organization of gambling, which subsequently led to the founders being on an international wanted list.

international wanted list - 1xbet

Controversial Practices

In 2019, 1xBet’s UK operations hit a snag following a Sunday Times expose that brought to light some eyebrow-raising practices, like a “pornhub casino” with topless dealers, bets on children’s sports, and ads on some not-so-kosher websites. The company vowed to straighten things out, but the UK license was ultimately revoked.

Moreover, in 2020, a Group-IB report shed light on 1xBet’s controversial ads practices. The company was found to have funded the dubbing of over 900 pirated TV series. And it wasn’t just a few pirate sites here and there – they had their ads on more than 80% of them in the CIS. To maintain this extensive network, regular investments of $5000-8300 were made into at least 17 voice over studios each month.

What Do the Owners Do Now?

While the official stance paints a picture of evasion, Semiokhin’s life in Cyprus tells a different story. Roman appears to be taking the international warrant in his stride, strolling around Limassol with an air of nonchalance. However, the story of his fellow co-founder ended quite differently. 

Karshkov’s untimely demise in Switzerland in 2023, at the age of 42, added a layer of mystery to the narrative, considering his past association with the Russian police. His death, reportedly due to an allergic reaction to MRI contrast fluid during a medical checkup, left many questions unanswered.

Sergey Karshkov - co-founder of 1xBet
Sergey Karshkov, who was the tech genius behind the company, sadly passed away in 2023 at the age of 42

Franchise Model and Global Presence

In an interview with Forbes, Semiokhin explains that 1xBet operates on a franchise model, akin to McDonald’s, which means that “in different countries, it’s different people” who run the operations. 

Roman Semiokhin - co-founder of 1xBet
Roman Semiokhin during his insightful interview with Forbes

This decentralized structure has given rise to over 200 franchises globally, each with the freedom to tailor their operational strategies to local markets.

Here’s what he says on the franchise model: “The local partner decided for themselves how to operate, with whom, and which license to obtain”.

Dmitry Kazorin- - co-founder of 1xBet
Dmitry Kazorin with family

Expansion and Recognition

1xBet has seen considerable growth, especially in Africa and Latin America, which are considered among its top markets. 

Here’s a snapshot of 1xBet’s global presence:

Did you know? 1xBet was a top advertiser on Runet in Q1 2019, only behind Google and PepsiCo.

FAQ

Who Owns 1xBet?

1xBet was founded by Roman Semiokhin, Sergey Karshkov and Dmitry Kazorin.

Is 1xBet legit?

1xBet has a valid Curaçao license and local licenses in Spain, Kazakhstan, Cameroon, Nigeria.

When Was 1xBet Founded? 

1xBet was established in 2007 in Bryansk, Russia, and has since grown to have a global presence, including significant markets in Africa and Latin America.