1X-BET; HIDDEN FINANCIAL CRISE: SOMALIA'S GOVERNMENT SHOULD FORBID 1X-BET IN ORDER TO SAVE OUR SOCIETY'S WEALTH.

 1x-Bet is a well-known digital gambling company all over the world. In the ancient Era, there was a manual casino, but now is being changed, although the casino is still existing. The technological advancement has taken an immensely role on the needy of digital casinos until transformed the manual casino, which resulted many businesses and individuals rely as a source of revenue.

Let me explain you briefly about 1x-Bet. 1X Corp N.V. (also known as "1xBet") is an online gambling company licensed by Curaçao eGaming License. It was founded in 2007 and registered in Cyprus. In 2019, they experienced considerable growth, briefly sponsoring Chelsea FC and Liverpool FC before being ousted for their involvement in illegal activities. It’s headquarter located in Limmadol, Cyprus, its owners called Sergey Karshkov, Roman Semiokhin, Dmitry Kazorin. Initially, a Russian casino it expanded its online presence in 2014 by partnering with 'Bookmaker Pub'. It maintains operations in Malta, Cyprus and Abuja. As of January 2023, 1xBet no longer appears to be located in Curaçao, after being declared bankrupt, following a lawsuit against the company and its licensor. The website continues to operate online and has since relocated to Nigeria.

Factors would be incentivized financial bleed out.

Due to the peak point of unemployment rate in Somalia, it leads to the young generations fall un certainly, which likely to lose their little bit of money through digital casino aiming to generate profit from it. Unfortunately, each day, the digital casinos primarily 1xPet gained from Somalia's worth, which couldn't be estimated definitely. But what we know all of us is that the casino place is always the winner.

Telecommunication firms perceive to inspire this financial bleed out. How the telecommunication firms took big role is, in the digital casino you may need to receive digital medium such as SAHAL, SAAD, E-DAHAB and EVC services, which would make it easier for you to invest your money. breaking up this breach between digital casinos and users, society may bring to save money. Furthermore, gambling always motivates you to ensure illusory dreams of profit maximization and ultimately leads you to lose at all.

The impact of 1xPet on Somali users.

Youth are the most suffering group on this issue. The negative consequences of 1xPet include financial problems, self-stress, frustration, and, in some cases, loss of life and suicide. All of the problems I've outlined have occurred in our country, and the Somali elites are aware of them, but they've never spoken about it.

In terms of the economic side, gambling has completely deactivated the economy. For example, bringing something to market as an entrepreneur leads to the generation of employment and income, and the government may levy a tax to help the society by promoting social services such as education, health, and welfare, which brings economic stability and well-being, whereas gambling may harm such a long economic chain.

Looking at the side of social culture and our Islamic principles, it's out of at all, and therefore, Allah tells us in the Qur’an that gambling is strictly prohibited, and it's for the evil function. In the last recent years, Numerous shocking cases of suicide have been reported in Somalia, which was might their cause root is 1xBet. Actually, it's for a heartbreaking to hear some stories like this, but what we need for right now is widespread awareness against using 1xBet.

Recommendation and conclusion.

1.      1. Awareness boosting:

Each segment of the society should take a role of impeding economic bleeding through the 1xBet platform.

Islamic jurists are crucial in determining how to regulate the use of digital gambling platforms in our country, combining their great knowledge of Islamic principles with their voice that has yet to be heard.

Academic institutions and hubs may also have a significant positive impact on how our society's thinking develops through student mentoring and training on youth empowerment by providing the young generation grants and business skills.

2. Somali government's participation in Combating 1xBet,

Many governments across the world were panned this application and others like it, reasoning by the negative influence on their Socio-economic well-being.

despite the telecommunication sector has not under control of public sector but still government could have a regulatory mandate for the telecommunication sector.

However, government should literally suspend any harmful program like digital gambling through Formulating laws and policies to protect the society's wealth.

3.Telecommunication Firms role.

Throughout that, by cooperating both Somali government and telecommunication parties should address suffering resulted by 1xPet to save the Somali society riches.

Conclusion;

Somalia is one of the top ten of worst economy in the world, furthermore endless conflicts, droughts and floods resulted by the climate change, un limited corruption, Authority abuse and many other challenges have been meeting people living in Somalia. As existing countless challenges, 1xBet negative impact on socio-economic level added, whereby many Somalis who has been suffering and struggling to their lives were lost un limited wealth by seeking to earn a profit from the digital gambling through 1xBet platform.

Therefore, unfortunately, now Somalia's young generation and other users are experiencing disabling innovation, self-stress, and doubling their family problems resulted from 1xBet.

Thank for your time.