AHMEDABAD – India’s Enforcement Directorate (ED) has reached a critical milestone in its investigation into Magicwin, filing a formal chargesheet on January 15, 2026. The move targets a complex cross-border betting exchange operated by UAE-based Pakistani nationals and supported by an extensive network of Indian entities.
From Piracy to PMLA Probe
The investigation stems from a cybercrime FIR regarding the unauthorized streaming of the 2024 ICC Men’s T20 World Cup.
- Copyright Infringement: Magicwin illegally broadcasted matches for which Star India Private Limited held exclusive rights, using the high-demand event as a “hook” to lure users into gambling activities.
- Betting Exchange: Beyond cricket, the platform facilitated wagers on football, tennis, and horse racing, alongside live casino games like Teen Patti and Poker.
The UAE-UK-Pakistan Connection
The ED’s filing arraigns 14 individuals and entities, highlighting a sophisticated international structure:
- Corporate Shell: Magicwin Sports Limited, a UK-registered company, is led by directors Gulab Harji Mal and Omesh Kumar Gurnani—both Pakistani citizens based in Dubai.
- API Duplication: The platform allegedly rebroadcasted live dealer games from legal jurisdictions (e.g., the Philippines) by copying original APIs to deceive Indian users.
- Celebrity Endorsements: High-profile influencers and Bollywood stars were used to promote the site, amplifying its reach despite the national crackdown on illegal wagering.
Laundering Routes: Hawala & Crypto
The ED alleges that betting proceeds were funneled through layers of mule bank accounts and shell companies before being siphoned out of India via Hawala channels and cryptocurrencies. As of late 2025, authorities have conducted over 60 raids, leading to the seizure of assets and digital records valued at approximately ₹3.55 crore.