Dutch Supreme Court Decision
The Dutch Supreme Court found that the Russian bookmaker 1xBet, connected to many esports organizations, was insolvent. The decision was made in the Netherlands. The bookmaker is accused of not paying winners, blocking or freezing withdrawals, and overspending on advertising when broke.
In addition to having strong ties to the world of soccer as an official partner of Barcelona and Paris Saint-Germain. 1xBet emerged in 2022 as one of the most prominent sponsors of esports organizations and competitions. During this time, soccer was 1xBet’s primary focus.
In 2022, Team Spirit, OG, and Tundra Esports signed major sponsorship arrangements with the Russian bookmaker. During their relationships, 1xBet served as a direct sponsor for some of the content that these clubs produced. The company worked with WePlay and esports clubs and ran its contests.
In 2021, 1xBet was stripped of its authorization to conduct business in Russia. Even if the bookmaker’s creditors became more vocal over time, they still had to expand into other countries, and the bookies had a very successful year in terms of partnerships in 2022.
1xBet Expansion to Continue its Operation
1xBet continued its expansion around the world, particularly in the countries of India and Africa, aided in no little part by its flourishing affiliate network. Although increased customers would increase revenue, 1xBet was still striving to escape its past.
They continue to push aggressive marketing strategies worldwide; they just recently kicked off a Maserati Levante campaign in India. Although the bookmaker’s past has finally caught up with them in the Netherlands, they continue to push aggressive marketing strategies everywhere in the world.
After the judgment handed down by the Dutch Supreme Court, it is now unknown how those brands linked with 1xBet will proceed. Most esports and soccer organizations may reevaluate their collaborations because they also work on content to promote the bookmaker’s name.
Where Do Things Stand With The Esports Teams That 1xbet Supports Now?
It needs to be made apparent what repercussions this will have for the teams that it sponsors. ESL and WePlay have recent investments so a single betting sponsor won’t hurt them. As a result, they will likely remain unaffected by this development. However, esports teams like OG, Tundra, Team Spirit, and MiBR may feel the squeeze if a big sponsor goes out of business. It is still being determined to what extent 1xBet funded these teams, although sufficient funds were exchanged for them to be listed as a jersey sponsor for at least part of the teams.
OG, Team Spirit, and Tundra’s Twitter banners still had 1xBet when this post was written. Several teams’ jerseys for the current season still include the sponsor’s name.