Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Latest News

BOS Claims Swedish Banking Institutions Have Suspended Services Provided to Licensed Gambling Operators

Published

on

Reading Time: 3 minutes

 

Gustaf Hoffstedt, secretary-general of the Swedish trade association Branscheforenigen för Onlinespel (BOS), has claimed that all of the country’s major banking institutions have suspended services they provide to licensed gambling operators.

BOS said that “all major Nordic banks” – including SEB, Swedbank, Nordea, Handelsbanken, DNB Nor and Danske Bank – stopped providing services to Swedish-licensed gambling operators at some point this year.

Claiming this is in violation of Swedish law, Hoffstedt has filed a complaint to the country’s Financial Supervisory Authority (Finansinspektionen).

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Most of these banks, Hoffstedt said, cited internal risk assessments or Sweden’s Anti-Money Laundering Act (PTL) as the reasons for account closures. The BOS secretary-general added that “in some cases the banks have not stated any reason at all”.

“As far as I am aware, no concrete justification for the dismissals and banks’ assessment has been provided in any case,” Hoffstedt said.

Hoffstedt added that gambling operators cannot function without banking services.

“Online gambling companies are, as stated above, dependent on basic financial infrastructure in the form of banking and payment services to conduct their business,” he explained. “This requires [them] to be able to store customers’ funds as well as receive deposits and make payments to customers.”

He added that the suspension of services meant that operators could no longer use Bank-ID, used to verify players’ identities. This meant they had lost access to a tool that was vital for fighting fraud and money laundering, Hoffstedt.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Without access to the Bank-ID system, online gambling companies need to use alternative solutions to identify their customers. These solutions risk being neither as effective for companies nor as safe for users,” he explained.

Swedish Banks also provide the Swish payment service, which Hoffstedt said was also “very important” for operators.

Hoffstedt said that the banks’ decisions had worsened operating conditions for the country’s igaming licensees, as well as counteracting the goals of the Gambling Act.

He went as far as arguing that the actions were illegal.

Hoffstedt said banks have a contractual obligation to continue to provide banking services to these customers, unless there is a clear reason to break this agreement. Only in incidents where continuing to provide banking services would violate the PTL, or if the banking customer had committed misconduct, could agreements be broken, he claimed.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

While Hoffstedt noted that banks may terminate agreements if they suspect a customer has connections to money laundering, he pointed out the PTL made clear that these assessments are at the customer level. They can, therefore, not be applied on a sweeping basis to a legal industry.

“Given that a large proportion of BOS members also received notice or notice of termination from the banks – all with general and overarching references to the risk of money laundering in the business – it seems obvious that the basis for the dismissals is a general business policy decision rather than a valid application of PTL,” he said.

“Under these circumstances, there is no possibility for the banks to deviate from their contractual obligation.”

BOS requested a dialogue with the Financial Supervisory Authority and said the regulator “should initiate a supervisory investigation of the banks’ handling and possibly intervene against the banks”.

SEB – one of the banks mentioned by BOS – however, argued it was not systematically ending relationships with gambling operators but rather examined the risk for every client on an individual basis.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We always make an individual assessment of individual client relationships,“ SEB said. “When it comes to gambling companies, we generally have a cautious approach based on the raised risk level, not least connected to risks relating to money laundering and financial crime.”

Danske Bank, meanwhile, denied it had a policy specifically preventing gambling businesses from operating, but did say these businesses undergo a stricter screening process.

“Danske Bank does not exclude banking services for gambling operations as such,” Danske Bank said. “However, our assessment is that the gambling industry in general is associated with high risk and due to that we have tailored screening principles to ensure that the companies operate responsibly.

“In a case where a specific gambling client does not meet the requirements of our KYC-process or ESG-assessment, the ultimate consequence could be that we limit our offerings or refrain from enter into a business relationship.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Gambling in the USA

Terrible’s Mobile Gaming Introduces 5-Card Draw Poker in Nevada

Published

on

terrible’s-mobile-gaming-introduces-5-card-draw-poker-in-nevada

Renowned for its deliberately different philosophy, JETT/Terrible’s Gaming is now revolutionizing mobile gaming with the launch of Terrible’s Mobile Gaming. Offering Nevadans fast-paced Multi-Player 5 Card Draw Poker on mobile devices statewide, this groundbreaking multiplayer app enables real-money games anytime in Nevada, complete with thrilling features like Royal Flush bonuses of up to $4,500Four-of-a- Kind payouts of up to $175, and more.

“JETT/Terrible’s Gaming and the Terrible’s brand in general have been making life more convenient for Nevadans for over 65 years. Now, we are excited to bring that same level of convenience to mobile gaming—delivering the excitement of Multi-Player 5 Card Draw Poker directly to our customers, wherever they are, and within the palm of their hand,” said Tim Herbst, President, JETT Gaming & Terrible Herbst Inc.

To celebrate the launch, Terrible’s Mobile Gaming is offering a *deposit match of up to $500 every week. Download the Terrible’s Mobile Gaming app on the App Store and Google Play Store for *details:

  • Download for iOS
  • Download for Android

In collaboration with Real Gaming, one of Nevada’s pioneering licensed iGaming operators, Terrible’s Mobile Gaming integrates state-of-the-art technology to provide an unparalleled gaming experience across the state.

“Nevada players know that both the JETT Gaming and Terrible’s Gaming brands mean convenience, and that’s exactly what we’ve delivered,” said Lawrence Vaughan, co-founder of Real Gaming. “Players are loving it!”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Blockchain’s growing influence

ClickOut Media casts its sports betting predictions for 2025

Published

on

clickout-media-casts-its-sports-betting-predictions-for-2025

As the sports betting industry continues to evolve, the year 2025 is poised to usher in a wave of innovation, technology and strategic growth. Advancements in technology and data analytics are reshaping the way bettors engage with their favourite sports.

ClickOut Media, the established multi-channel marketing company whose expertise cover multiple niches including the betting sphere, takes a closer look at what the new year holds for sports betting predictions and how players, operators and regulators can prepare for the upcoming changes.

Rise of AI-powered predictions

Artificial Intelligence (AI) has already made its mark on sports betting, and in 2025, its ever-present role is set to expand. At the heart of AI’s influence lies its predictive analytics. Machine learning algorithms are becoming more sophisticated, capable of analysing vast data sets to predict outcomes with greater accuracy. Considering variables such as player performance, team dynamics, historical data and even weather conditions, these systems are providing bettors with increased real-time, data-driven insights. For operators, integrating AI into their platforms will be a game-changer, ensuring that the personalised approach guarantees users recommendations that align with their preference and risk appetite, transforming every bet into a bespoke experience.

Expansion of micro-betting

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Micro-betting, the ability to place bets on specific moments within a game, will also see its presence within the landscape grow over the next 12 months. This will be particularly true in markets such as the US where sports betting is maturing as a product. With the proliferation of 5G and faster internet speeds, real-time micro-betting is becoming increasingly seamless which aligns directly with younger bettors who favour a dynamic and engaging betting experience. AI again makes its mark within this forecasted shift, with an ever-growing number of analytics platforms using the phenomenon to provide real-time data and predictions, allowing bettors to make informed decisions as games are unfolding.

Emergence of esports

When we think of sports betting, traditional sports like football, basketball and horse racing usually dominate the conversation. However, esports is no longer a niche market, rather a mainstream betting category with its influence set to experience a continued upward trajectory in 2025. Millennials and Gen Z, the digital natives, are leading the charge in esports betting with both groups not just watching esports, but actively participating, placing bets and engaging in fantasy leagues. According to a 2023 report by the Esports Integrity Commission, more than 70% of esports bettors are under 35. As more betting options emerge, driven by technological innovations like AI, mobile apps and cryptocurrency, sportsbooks are likely to expand their esports betting options to cater for a vast tech-savvy, youthful audience.

Blockchain’s growing influence

Originally created for the financial sector and trading of digital currencies, blockchain has been growing its reach in recent years with the sports betting sphere a market of particular interest that is set to make considerable strides in 2025. Sports betting has always been surrounded by a layer of controversy and risk of corruption. Blockchain technology has the potential to revolutionise the industry by offering greater transparency, security and fairness to players. Smart contracts, which automate payouts based on match results, are expected to gain steady adoption. A greater number of betting platforms will continue to also accept cryptocurrencies, putting more trust in the hands of bettors with no sharing of personal data required like bank account numbers or credit card details. User safety will also be strengthened through the reduction of data breaches and identity thefts that are linked to standard payment channels.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Conclusion

The sports betting industry in 2025 is set to be more dynamic, data-driven and user-centric than ever before. With innovations like AI, blockchain and micro-betting leading the charge, both operators and bettors will benefit from a more engaging and transparent ecosystem. For operators looking to stay ahead, focusing on technology, user experience and responsible gambling will be key to success. ClickOut Media, in its role as a global marketing and content company, remains committed to providing invaluable insight and coverage on the evolving and exciting developments as 2025 unfolds.

 

Continue Reading

Latest News

ClickOut Media casts its sports betting predictions for 2025

Published

on

clickout-media-casts-its-sports-betting-predictions-for-2025
Reading Time: 3 minutes

As the sports betting industry continues to evolve, the year 2025 is poised to usher in a wave of innovation, technology and strategic growth. Advancements in technology and data analytics are reshaping the way bettors engage with their favourite sports.

ClickOut Media, the established multi-channel marketing company whose expertise cover multiple niches including the betting sphere, takes a closer look at what the new year holds for sports betting predictions and how players, operators and regulators can prepare for the upcoming changes.

Rise of AI-powered predictions

Artificial Intelligence (AI) has already made its mark on sports betting, and in 2025, its ever-present role is set to expand. At the heart of AI’s influence lies its predictive analytics. Machine learning algorithms are becoming more sophisticated, capable of analysing vast data sets to predict outcomes with greater accuracy. Considering variables such as player performance, team dynamics, historical data and even weather conditions, these systems are providing bettors with increased real-time, data-driven insights. For operators, integrating AI into their platforms will be a game-changer, ensuring that the personalised approach guarantees users recommendations that align with their preference and risk appetite, transforming every bet into a bespoke experience.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Expansion of micro-betting

Micro-betting, the ability to place bets on specific moments within a game, will also see its presence within the landscape grow over the next 12 months. This will be particularly true in markets such as the US where sports betting is maturing as a product. With the proliferation of 5G and faster internet speeds, real-time micro-betting is becoming increasingly seamless which aligns directly with younger bettors who favour a dynamic and engaging betting experience. AI again makes its mark within this forecasted shift, with an ever-growing number of analytics platforms using the phenomenon to provide real-time data and predictions, allowing bettors to make informed decisions as games are unfolding.

Emergence of esports

When we think of sports betting, traditional sports like football, basketball and horse racing usually dominate the conversation. However, esports is no longer a niche market, rather a mainstream betting category with its influence set to experience a continued upward trajectory in 2025. Millennials and Gen Z, the digital natives, are leading the charge in esports betting with both groups not just watching esports, but actively participating, placing bets and engaging in fantasy leagues. According to a 2023 report by the Esports Integrity Commission, more than 70% of esports bettors are under 35. As more betting options emerge, driven by technological innovations like AI, mobile apps and cryptocurrency, sportsbooks are likely to expand their esports betting options to cater for a vast tech-savvy, youthful audience.

Blockchain’s growing influence

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Originally created for the financial sector and trading of digital currencies, blockchain has been growing its reach in recent years with the sports betting sphere a market of particular interest that is set to make considerable strides in 2025. Sports betting has always been surrounded by a layer of controversy and risk of corruption. Blockchain technology has the potential to revolutionise the industry by offering greater transparency, security and fairness to players. Smart contracts, which automate payouts based on match results, are expected to gain steady adoption. A greater number of betting platforms will continue to also accept cryptocurrencies, putting more trust in the hands of bettors with no sharing of personal data required like bank account numbers or credit card details. User safety will also be strengthened through the reduction of data breaches and identity thefts that are linked to standard payment channels.

Conclusion

The sports betting industry in 2025 is set to be more dynamic, data-driven and user-centric than ever before. With innovations like AI, blockchain and micro-betting leading the charge, both operators and bettors will benefit from a more engaging and transparent ecosystem. For operators looking to stay ahead, focusing on technology, user experience and responsible gambling will be key to success. ClickOut Media, in its role as a global marketing and content company, remains committed to providing invaluable insight and coverage on the evolving and exciting developments as 2025 unfolds.

 

The post ClickOut Media casts its sports betting predictions for 2025 appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending