Ultra Seven

About Ultra Seven

Officials alleged that the individuals involved had been operating illegal betting websites and had facilitated the movement of proceeds from gambling through Türkiye’s financial system. 

The Interior Ministry insisted that the crackdown on digital illegal gambling would persist as part of a broader strategy to prevent criminal proceeds being fed into the economy via banking and payment infrastructures. 

Türkiye’s Law No. 7258 criminalises the operation of gambling activities without a licence. Offences are often combined with money laundering and fraud charges, amplifying legal consequences for offenders.

About Ultra Seven

Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.

By comparison, the long tail of smaller black market sites rely heavily on affiliates to generate traffic.

Much of the onus for the increasing black market is put on increasingly restrictive policies enforced by regulators across the licensed sector.

How to play Ultra Seven

CEO Levin, who is set to transition to a chair role, commented on the shift, saying that he was very confident that Konstakis has what it takes to be CEO and drive OpenBet to new heights.

He [Konstakis] knows our business, our customers and our technology inside out, and has played a central role in shaping our priorities and how we execute against them. Furthermore, Nikos has been a true confidante and partner in the business since coming on board over eight years ago.

Levin added that he is looking forward to supporting the company and the wider team from his new chair role.