Rainbet: Offshore Gambling Empire Built on Regulatory Arbitrage and Deceptive Practices

Executive Overview

Rainbet illustrates the most concerning aspects of unregulated offshore cryptocurrency casinos. Established through a multi-layered corporate network and exploiting legal inconsistencies between Curaçao and Anjouan, the company has expanded into a global gambling operator while disregarding consumer protection laws, breaching self-exclusion policies, and marketing unlawfully in prohibited jurisdictions.

An investigation by FinTelegram highlights how Rainbet employs fabricated promotions, fails to safeguard player funds, and sustains an intentionally non-transparent ownership structure designed to evade accountability.

Company Profile and Legal Structure

Establishment and Development

• Officially launched in 2023, though sources suggest activities dating back to 2017.

• Marketed as a “modern” casino focused on crypto payments, minimal compliance obligations, and global reach.

Legal Entities

Primary Operating Entity:

• RBGAMING N.V. – Curaçao registration (#163051)

• Address: Zuikertuintjeweg (Zuikertuin Tower), Willemstad, Curaçao

• License: Anjouan Internet Gaming License (#001-2023-AJG)

Regulatory Strategy:

• Curaçao incorporation: provides legitimacy and access to banking.

• Anjouan license: minimal oversight, no meaningful dispute resolution, and virtually no consumer protection.

Ownership and Management

Claimed Leadership

• John Evans – CEO & Co-Founder (identity unverified)

• Sean R. – Chief Marketing Officer (no public record)

• Guilherme Fideles – COO (documented links to grey-market gambling projects).

Analysis of Backgrounds

• John Evans: Multiple LinkedIn profiles exist but none verify industry experience. Likely a constructed persona.

• Sean R.: No independent record outside Rainbet’s own PR.

• Guilherme Fideles: Connected to defunct or problematic ventures, including BoglaGold, MaisBet, MMO Games LP, and Tokenbets.

Regulatory Status and Compliance Issues

Licensing Discrepancies

• Anjouan License: lacks consumer fund protection, no external audit, no self-exclusion enforcement.

• Curaçao Registration: only corporate incorporation, not a full gambling license.

Restricted Market Access

Rainbet’s terms prohibit operations in: UK, Germany, France, Spain, Austria, Ireland, USA.

However, FinTelegram testing confirmed active registration and deposits from:

• Austria – full payment functionality.

• Italy – unrestricted platform access.

• United Kingdom – user sign-ups and deposits processed despite UKGC regulations.

Payment Systems Used:

• MoonPay (Visa/Mastercard)

• Interac (Canada), Pix (Brazil)

• Gift cards via Kinguin.net

Self-Exclusion Failures (UK)

• No GAMSTOP integration.

• Self-excluded gamblers still accepted.

• Deposits not refunded.

• Targeted marketing continues post-exclusion.

These constitute breaches of the UK Gambling Act 2005, Consumer Rights Act 2015, and UKGC codes.

Networks and Operational Links

Similarities to 1xBet

• Same licensing jurisdictions (Curaçao/Anjouan).

• Identical payment gateways.

• Affiliate models built on aggressive jurisdiction targeting.

Distinction from Stake.com

• Stake owned by Ed Craven and Bijan Tehrani under Medium Rare N.V.

• Unlike Rainbet, Stake adheres to recognized compliance standards.

Marketing Tactics and Influencer Recruitment

Fabricated Promotions

FinTelegram received evidence showing Rainbet systematically pays influencers to publish fake winning slips.

Operational Scheme:

• Coordination: private Discord servers.

• Influencer Payments: $50 per post, up to $1,500 monthly.

• Content: pre-made betting slips portraying fabricated wins.

• Requirements: influencer bio must include “@Rainbet.”

Contact Channels for Recruitment

• Telegram: @rainbetshin

• Discord: rainbetshin

• Email: [email protected]

Regulatory Breaches:

• ASA (UK): undeclared ads.

• EU UCPD: hidden marketing banned.

• FTC (US): endorsement disclosure required.

Consumer Protection Deficiencies

Player Risks

• No segregated accounts; deposits mixed with operating funds.

• Arbitrary freezing of withdrawals.

• Refusal to refund deposits from self-excluded players.

• Continued targeting of gambling-addicted individuals.

Testimonials

• Users reporting instant re-access after self-exclusion.

• Addiction support requests ignored.

• Debt encouraged through bonus structures.

Comparative Industry Table

Risk and Market Impact

Estimated Scope

• Annual Revenue: $200M–$500M

• User Base: 500k–1M active players

• Key Regions: UK (30%), Germany (25%), Australia (20%)

Risk Levels

• Consumer Risk: Extremely high.

• Regulatory Risk: Persistent violations in key jurisdictions.

• Industry Risk: Highlights failures in cross-border gambling regulation.

Call for Information

FinTelegram is collecting insider intelligence, including:

• Ownership documentation

• Payment processor details

• Evidence of AML violations

• Records of self-exclusion breaches

• Influencer contract data

Submission Methods:

• Encrypted email (by request)

• Anonymous drop services

• Legal support for whistleblowers

Conclusion

Rainbet stands as a case study in offshore regulatory evasion. Through fabricated marketing, systemic consumer protection failures, and deliberate opacity, it poses a severe risk to players worldwide.

FinTelegram’s investigation calls on insiders, regulators, and affected players to share evidence to help expose the full scope of this operation.