Firms Shut Down Black Market Gambling Network Ahead of Report

UK-focused offshore gambling giant dismantles major corporate entities days before new probe report is released, sparking renewed concerns over accountability and regulatory gaps.

Black Market Betting Network Dissolves Key Companies Before Investigative Report

The results, due to be published by GAMRS and Deal Me Out, examine a group that has been widely linked to brands including MyStake, GoldenBet, DonBet and Rolletto. It is believed to have taken billions of pounds of bets from UK users without a proper license to operate in the market.

Ahead of publication, details show that two key companies in the structure, Santeda International B.V. and GTW B.V., have formally been closed down. The timing has attracted interest, given the increased scrutiny created by prior investigations into the group’s activities.

In late 2025, the last GAMRS report described a sprawling, multi-jurisdictional system for concealing ownership and avoiding regulation. The Curaçao-based entities acted as licensing fronts, with operational control largely traceable to Georgia, and technical and financial hubs throughout Europe. In this way, the network was able to operate in both regulated and unregulated markets with low transparency.

The backbone of the ecosystem is platform provider Upgaming, which, investigators said, was more than just a software supplier. The earlier report provided evidence that multiple gambling sites had shared backend infrastructure, hosting environments, and even customer service systems, indicating that they were centrally managed behind the scenes.

Millions of UK Bettors Use the Websites Despite Crackdown

The traffic analysis also revealed the scale of the operation. Associated platforms drew millions of visits, with the UK being the largest source of users. Enforcement efforts have cut off some access to content, but engagement levels remained high.

The companies, which have recently been dissolved, were run by corporate services provider IGA Group. Following the entity’s cessation of involvement, directorship was reported to have passed to an individual called Xianbo Wei before the entity was ultimately deleted from official registers.

Investigators suggest legal entities are dissolved, and operations continue through active websites, leaving consumers exposed. However, there is no clear corporate body to deal with disputes, so users may face significant problems in recovering funds.

The latest report was briefly delayed by legal correspondence from a leading UK law firm, but the report’s authors have confirmed it will be published after a short right of reply period for named parties.

The paper that follows will likely extend these results, looking in more detail at how the network responds to pressure. These include altering corporate structures, keeping shared technical systems, and continuing to target restricted markets. With billions of alleged UK betting volume and increasing media attention, the case is likely to spur calls for tougher enforcement against offshore operators and those who provide their infrastructure.