Online gambling agent Asianconnect88 has closed its business with a website connected to Betfair following a recent investigation by the Financial Times. The FT investigated anonymous funds flowing onto the platform, and now Asianconnect88 has announced to its customers that it will no longer be working with the peer-to-peer gambling exchange.
Asianconnect88 worked through 9Wickets, a Betfair clone site that allowed customers access to the peer-to-peer gambling exchange. Through this Asianconnect88 offered its customers access to Betfair, but on Friday the company said in an email that it would no longer broker accounts with 9Wickets and all relevant accounts would be suspended from July 6th.
Betfair is now part of Flutter Entertainment, but was previously Paddy Power Betair. Recently, a Financial Times investigation used a 9Wickets account created through the Asianconnect brand to show how Betfair’s B@B partner sites offered a backdoor into the exchange without the usual checks regarding identity, which undermines anti-money laundering laws.
Powered by Betfair
Asianconnect is one of a number of affiliate agent sites who funnel money through the Betfair exchange without the same checks on identity or fund sourcing. The brand describes themselves as being ‘Powered by Betfair’ as they use the programming interface but without meeting any of the stringent checks customers would face on Betfair itself.
The clone sites that act as bridges between the official Betfair site and other sites are often used by people in countries where online gambling is largely banned, such as the US and India, and as the clone sites accept cryptocurrencies that aren’t monitored, they fail to meet safe guidelines and gambling regulations in many countries.
After the investigation the FT contacted both companies, but Asianconnect did not respond to a request and Flutter, who own Betfair said it did not comment on specific details of commercial partnerships.