Slotoking rebrands as BetKing: new facade, old schemes

Slotoking, one of the most scandalous representatives of the Ukrainian gambling industry, rebranded in December 2024, changing its name to BetKing. 

However, this image change appears to be less a genuine overhaul of operations and more an attempt to distance itself from a series of scandals. The company’s dark past continues to raise questions and doubts.

Cryptocurrency operations and tax evasion
According to journalists, BetKing actively uses cryptocurrencies, including Solana and USDT, for financial operations. Transactions with Russian partners appear particularly suspicious. This allows the company not only to avoid paying taxes in Ukraine but also potentially to finance the interests of the neighbouring state.

From offshore licences to KRAIL
Slotoking began its operations in 2012 with an offshore licence obtained in Curaçao, primarily serving a Russian-speaking audience. In 2021, the company received a licence from the Ukrainian Commission for the Regulation of Gambling and Lotteries (KRAIL). However, this did not prevent it from maintaining dubious connections and continuing to operate under its previous schemes.

Fines without consequences
In recent years, the company has been fined several times. In December 2023, Slotoking was penalised for tax violations, and in 2024 – for allowing individuals from the restrictions register to access games. Yet these “sanctions” had no tangible effect, resembling formal measures rather than actual punishment.

Rebranding without change
Under the new BetKing brand, the company continues to operate using the same schemes. The use of cryptocurrencies enables it to bypass financial monitoring, while questions regarding potential support for Russian interests remain open.

Reflection of a systemic problem
The legalisation of the gambling industry in Ukraine was originally intended as a step towards transparency and control. However, the Slotoking/BetKing case demonstrates that instead of an orderly industry, society has been confronted with companies that, while evading the law, continue to act in their own interests, possibly even to the detriment of the country.