Daily Mail

Betway backer revealed

Philanthro­pist has stake in controvers­ial gambling firm

- By Mario Ledwith and Tom Witherow in Durban

Tell us who’s behind ‘grooming’ betting giant, MPs demand

From the Mail, January 20

A MILLIONAIR­E South African philanthro­pist was last night revealed as one of the secretive backers of online gambling giant Betway.

Martin Moshal, 49, admitted he was an investor in the controvers­ial company after a Daily Mail investigat­ion into its offshore ownership structure.

Betway is facing outrage over secret documents that reveal VIP managers ‘groom’ addicts by using manipulati­ve messages and cash bonuses to keep them hooked.

In one case, a gambler stole £370,000 from his employer to fund his addiction after receiving hundreds of messages from Betway staff. Betway refunded the money in a tacit admission of guilt. Although licensed to operate in the UK, Betway’s real owners are hidden behind shell companies in Malta, Guernsey and the British Virgin Islands.

Now the Mail has establishe­d that ‘tech genius’ Mr Moshal is a beneficiar­y of a trust registered in the Isle of Man which is a shareholde­r of Betway. The venture capitalist, who is said to share his time between South Africa and London, where he and his wife Ilana once owned a seven- bedroom mansion in Hampstead now worth £7.8 million, admitted he had shares in Betway via a trust.

Despite referencin­g his business success in speeches, the tycoon has been reluctant to discuss the exact source of his wealth.

On the website for the Moshal Foundation, which provides scholarshi­p programmes, he simply describes being ‘involved in several technology and real estate investment­s, as well as start-ups’.

But the Mail can also reveal how Mr Moshal became known as one of the ‘most influentia­l figures in online gaming’, a global industry valued at more than £340 billion that is viewed by critics as an unregulate­d ‘Wild West’.

His influentia­l role in transformi­ng old-fashioned bookmaking is detailed in dozens of patents for the technology behind online gaming. They include jackpot wagering systems, virtual slot machine games, bonus promotions to ‘induce’ players, mobile devices for payment and an array of ‘multi-player’ online games.

Mr Moshal was born in Durban, and studied finance and computer science at the University of Cape Town, graduating in 1992. His gaming empire was started in a small flat in Durban, where he began rolling out inventions through the Microgamin­g company, which he remains a major shareholde­r of. By the mid2000s, Microgamin­g was said to supply more than a third of the online gaming market and clients estimated it was bringing in more than £400 million of revenue annually.

Mr Moshal first became involved with Betway after its website was created in 2002, when he helped set up its poker and casino platform.

In the past five years, he bought his first stake in the company, and has since increased his investment.

He denied any involvemen­t in the day-to-day running of the business, but he retains a relationsh­ip with its senior managers. Mr Moshal’s spokesman acknowledg­ed that he was an ‘important figure in the early days of the industry’ but said his ‘importance has declined’.

MP Carolyn Harris, chairman of the all-party parliament­ary group on gambling, called on the Gambling Commission to reveal the firm’s other owners.

She said: ‘It makes me furious that other secretive multimilli­onaires who control Betway remain unaccounta­ble to MPs, its customers and the general public.’

Betway said: ‘Betway Group is a Guernsey company and holds gaming licences in the UK. As a responsibl­e, licensed operator, all of our regulators (in all jurisdicti­ons) are provided with the details of our ownership, as is required by law.’

 ??  ?? Influentia­l role: Computing expert Martin Moshal, 49, and his wife Ilana
Influentia­l role: Computing expert Martin Moshal, 49, and his wife Ilana
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