VELKI: A Threatening Online Betting Platform Exploiting Youth

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Today's Desk
November 22, 2024

By Nurul Islam- VELKI, an online gaming platform, initially launched its services in Bangladesh and India, focusing on sports betting and casino games. Over time, the brand has expanded its operations across Southeast Asia, offering various gaming products. While the website provides sports and casino gaming options, its primary focus remains on betting. VELKI operates two live websites and mobile applications, offering games like cricket, football, kabaddi, basketball, horse racing, volleyball, boxing, Formula 1, tennis, table tennis, e-sports, and more. Users can select their preferred games from the menu, and the site updates its calendar with new events daily.

Targeting Youth through Deceptive Practices

VELKI primarily targets young individuals, luring them into online gambling. At first, it entices users by showcasing lucrative offers and profits. However, the promise of security is a mere facade, as the platform siphons off significant sums of money.

This unreliable and unsafe gambling platform, VELKI Live 123, uses manipulative advertisements to attract people from all walks of life, regardless of age or financial status. Initially, it shows small gains to hook users, turning gambling into an addiction. Gradually, users lose everything, leaving them financially and emotionally devastated.

VELKI’s Gaming and Gambling Trap

VELKI offers over 25,000 exciting games, including baccarat and slot games, with promises of daily bonuses and prizes. It claims to have over 14,000 gambling activities daily, but these promotions are empty promises. Despite the massive number of games, families are losing their savings due to the deceptive nature of this platform.

How VELKI Deceives Users

  1. Small Wins to Lure Bigger Deposits:New users deposit small amounts (e.g., BDT 1,000–2,000) and see minor profits. Encouraged by these gains, they invest larger sums, often exceeding BDT 10,000 or even millions. Eventually, the entire amount is lost.

  2. Withdrawal Restrictions:While depositing funds is made extremely easy, withdrawing them is almost impossible. VELKI often imposes conditions and technical barriers, ensuring users never retrieve their money.

  3. Addiction through Rewards:The platform tempts players by showing portions of their winnings in their accounts. To access these “profits,” users are prompted to make more deposits, leading to further losses.

Devastating Personal Accounts

In a shocking account, Main Uddin from Gulshan, Dhaka, shared his experience. Initially, he opened an account and deposited BDT 1,000–2,000. Later, he increased his deposits to BDT 10,000 and beyond. Over time, he lost his father’s savings of BDT 1.8 million. Today, he is left destitute, struggling to rebuild his life. His story mirrors the fate of thousands of young people who have fallen victim to VELKI’s predatory tactics.

Terms and Conditions: A Legal Cover for Fraud

VELKI uses vague and unfair terms to trap users, ensuring they have no recourse:

  • All operations are governed by Betfair rules, and users must unconditionally accept any decision by VELKI management.

  • Users must claim rewards within two hours of depositing funds; otherwise, the funds are forfeited.

  • Any technical error made by VELKI’s agents cannot be challenged by users.

  • If a bet is canceled, users receive no compensation, and the reasons for cancellation are solely determined by VELKI.

A Growing Social Menace

Online gambling has become a severe societal issue, destroying families and futures. Youth are falling into addiction, and many businesses face bankruptcy as people lose their savings. If left unchecked, the impact of platforms like VELKI will lead to increased crimes such as robbery, murder, and fraud.

Call for Immediate Action

The government must take urgent steps to shut down predatory betting sites like VELKI. By banning these platforms, the authorities can protect the youth from financial and psychological ruin and safeguard the nation’s wealth from being siphoned abroad.

Platforms like VELKI are not just a threat to individuals but also a danger to the broader society, eroding values and creating a culture of desperation and loss. Immediate intervention is necessary to curb this growing menace.