ED charges Magicwin owners for major online betting and money laundering
The Enforcement Directorate (ED) has filed a chargesheet against Magicwin, an online betting portal registered in the UK but owned by two Pakistani nationals based in the UAE.
Indian nationals in Dubai helped run the site, which is accused of illegally streaming ICC Men's T20 World Cup 2024 matches and offering bets on sports and casino games.
The case was filed in Ahmedabad on January 15, 2026.
What's been uncovered so far
ED's investigation has named 14 people and companies linked to Magicwin.
68 searches across cities led to seizures worth ₹3.55 crore—including frozen bank funds, incriminating documents, and digital devices—with ₹30 lakh frozen, according to the ED.
Bollywood celebrities reportedly promoted Magicwin at launch events and on social media.
The portal allegedly moved money through shell/mule bank accounts and merchant accounts of shell companies, took profits via crypto or hawala channels, and paid out winnings using payment gateways or direct transfers.
The probe is still ongoing.