Weekly Sportsbetting News for January 6th

Sportsbetting has grown into one of the largest industries worldwide, with thousands of operators competing for market space. In these efforts, some individuals will illegally maintain their business operations. This became relevant again when it was revealed that Aspire Global reached an agreement with the Israeli Tax Authority. Per the contract, this firm will payout €12.7 million for their previous illegal actions relating to a tax audit. Aspire Global didn’t provide critical information regarding their jurisdiction control, management staff and permanent establishments in Israel.

The Israeli Tax Authority provided an official statement to reporters, clarifying that this ends ten years of related investigations regarding Aspire Global. It wasn’t mentioned if Policing Authorities in Israel will consider criminal proceedings going forward, with most claiming that bribes will save the day for the executive at Aspire. It should be noted that Aspire Global isn’t required to payout this €13.7 million fine until the next tax period until 2020. This follows after governing authorities couldn’t come to a conclusive result before the 2019 taxation period. Aspire Global won’t face any penalties towards their daily operations as part of this settlement agreement.

1xBet Receives African License

The African betting market has been over shrouded with corruption and illegal behaviours for more than ten years. With the markets potential finally coming into fruition, one operator plans to set the new standards required for operators in Africa. This betting firm is 1xBet, who just received a National License to maintain their brand legally in Nigeria until 2020. It’s not surprising that this agreement was made, with 1xBet being a long-term advertiser for the Nigerian National Football team. This firm also sponsors the Football Confederation of Africa.

Now standing as one of the leading operators in Nigeria and Africa, 1xBet looks to be a model for other operators. The accumulation of International, Nigerian and African sports offered through this sportsbook will compete at higher levels than any of the illegally corrupted sites. Additional betting options will centre around Politics, Cinema and Music.

It should be noted that throughout the last five years, 1xBet has worked substantially to become the leading operator in the continent of Africa. They’ve selected the perfect moment to move forward with Nigeria, as an international focus on betting safety. 1xBet didn’t provide reporters with a timeframe towards the release of their upcoming products. However, analysts anticipate that the fully-fledged sportsbook will be legally released to the public before the end of February.