It is known that betting attracts large financial investments. It is a lucrative sphere not only for the players, but also for the owners of such a business. And where there is a lot of money, scammers are bound to appear. Together with 1Win bet, we will tell you how scammers use betting for profit.
Money Laundering Through Betting
Money laundering is the process of legalising illegally obtained income. With the help of laundering, fraudsters bring illegally obtained money to the status of legal income. Specialists of the 1Win site said that according to the UN research, every year 2-5% of the world GDP is laundered. If translated into exact amounts, it is from 800 billion to 2 trillion U.S. dollars. Money is laundered in various ways, including betting.
There are a total of three stages of laundering:
- Placement. Criminal money is placed in the financial system;
- Stratification. This stage hides the trail of the origin of this money by moving it through the financial system;
- Integration. Making money look legitimate, e.g. through the purchase of property.
And all of these steps can be applied to money laundering through sports betting. Fraudsters often attempt to use betting platforms to quickly legalise their profits. One scheme that is now impossible to apply to almost any site, including 1Win India, looks like this:
- The fraudster registers an account and makes a deposit (often using anonymous payment systems);
- After that, the fraudster does not place bets or bets small amounts (to avert suspicion);
- After a while it requests a withdrawal;
- The bottom line is that the money is legitimised as it is now the proceeds of winnings that the legitimate operator has transferred.
The next most popular laundering method that is not possible on the 1Win Official Website is segregation. It is used in bets where there is a double choice. For example, a bet on the total in football: more than 2.5 or less than 2.5 goals per match. The cheater bets the same amount on both outcomes. Let’s assume that the match ends with the score 2-0. This means that one bet did not play, but the other one did. Yes, this way some money is lost, but additional profit is gained from the betting site. This is a kind of commission for laundering illegal funds.
Modern methods of tracking such schemes have come a long way. Thanks to advances in neural networks and machine learning, 1Win website experts have developed methods to monitor and detect suspicious activity on user accounts. These methods have helped to keep 1Win website almost completely free from money laundering scammers.
Regulation has played an equally important role in reducing betting fraud. Many countries are now legalising betting, which entails additional government control.
Why 1win Is A Reliable Platform Without Scammers
To start with, 1Win is legal in India and provides its services under a Curaçao licence. The site has been operating in India since 2018, offering players the opportunity to bet on sports and play other gambling games. The operator cooperates with international organisations, acting as a sponsor for FIFA, UEFA, UFC, NHL, FIBA and many others, which once again confirms its reliability.
1Win India login users are protected by advanced end-to-end data encryption (SSL) technology. Additionally, individual transactions and other suspicious activities are checked by specialists. This approach makes 1Win Website a reliable resource that is safe to play on and does not raise suspicions from government regulators.
An additional degree of 1 Win protection is the verification procedure. This is the name given to the verification of users’ personal data. It is necessary to prevent fraudsters from creating multiple accounts or returning to the site after blocking profiles. To pass the verification, a 1Win login user must provide:
- A photo of your face next to your ID (passport or driving licence);
- Bank statement or other proof of payment funds;
- Additional documents to verify residential address (not always).
The algorithm for passing is simple:
- 1Win sign in in the app or on the website;
- Open the settings and select “Personal data”;
- Upload the required documents in the appropriate boxes.
Conclusion
Let’s conclude this article with a small 1Win review. The site offers more than 30 sports for sports betting. Here you can place both pre-match and live bets. The platform is scrupulous about security, which is why it is the most trusted in India. Betting here is safe as the administration thoroughly checks every player. 1Win betting values its reputation as a reliable operator, so it constantly makes sure that no money is laundered through the platform. For this purpose, the administration uses technologies to track suspicious activity, applies neural networks and machine learning. There is no doubt that 1 Win will continue to remain legal in India.
