

Compliance Updates
Spelinspektionen: New Guidance for Working Against Money Laundering and Terrorist Financing
The Swedish gambling authority, Spelinspektionen, has published new guidance relating to money laundering and terrorist financing, aswell as a new risk assessment.
This updated guidance and risk assessment comes as reports from the gambling industry to the Financial Intelligence Unit (FIPO) are said to be on the rise.
In May, the European Gaming and Betting Association (EGBA) showed support for the EU’s anti-money laundering (AML) package. The European Council approved the EU’s new AML package, finalising the union’s new framework for combatting financial crime.
Spelinspektionen during 2024 worked on money laundering issues in preparation for the FATF review, while it also participated in the EU’s preparatory work on the new EU Anti-Money Laundering Authority (AMLA) and for this upcoming regulation related to money laundering in the EU.
On top of this, the authority during the year gave talks to advise on the risks of money laundering being conducted within the gambling industry, with accounts and companies potentially being used to conduct the illegal action.
Its work against money laundering has been assisted by the Swedish Financial Supervisory Authority, the Swedish Economic Crime Authority and the Swedish Financial police.
Spelinspektionen Director General Camilla Rosenberg said: “The gambling industry is a risk area for money laundering, and we have seen a need for further clarification and guidance in this area.
“We have therefore revised our guidance and are also conducting a new risk assessment.”
The post Spelinspektionen: New Guidance for Working Against Money Laundering and Terrorist Financing appeared first on European Gaming Industry News.
Australia
VGCCC Imposes $80,000 Fine on Online Bookmaker QuestBet

The Victorian Gambling and Casino Control Commission (VGCCC) has fined online bookmaker QuestBet $80,000 for continuing to accept bets from a customer displaying observable signs of gambling-related distress.
Announcing the fine, VGCCC CEO Suzy Neilan said QuestBet’s non-compliance with its gambling harm minimisation obligations was indicative of a concerning culture.
“Our investigation of QuestBet’s practices found the bookmaker failed to have in place adequate systems to protect individuals identifiably at risk of gambling harm,” Ms Neilan said.
“Minimising gambling harm is an obligation every operator holds – including bookmakers – who must monitor customer wellbeing and intervene if they observe signs of distress.
“This substantial penalty demonstrates the seriousness of the bookmaker’s failure to meet its legal and moral obligations.”
The VGCCC investigation was prompted by a complaint from a customer who claimed QuestBet had allowed them to continue betting – and losing – a significant sum of money in a matter of weeks, without intervention.
“We found that between April and June 2023, the customer contacted QuestBet more than 20 times to request additional credits and bonus bets. On 6 occasions, they mentioned having experienced several large losses.
“This was a clear sign that the customer was struggling. A sign that QuestBet chose to ignore, instead encouraging and enabling the customer to keep gambling with the aid of bonus bets in 5 of the 6 occasions.
“Consequently, the customer lost about $15,000 over two months,” Ms Neilan said.
Staff of gambling operators must provide assistance to customers facing negative consequences from their gambling. There is a range of tools and resources staff might suggest to customers in this situation to assist them to, for example, set and track time and money limits, take a break, self-exclude or access help services.
“QuestBet suggested none of these, thereby breaching the Victorian Bookmakers’ Association Responsible Gambling Code of Conduct and causing further distress to the customer.
“Nor did the bookmaker formally respond to our request for an explanation for its lack of care or a reason not to be sanctioned, despite requesting, and being granted, several extensions to do so,” Ms Neilan said.
The post VGCCC Imposes $80,000 Fine on Online Bookmaker QuestBet appeared first on European Gaming Industry News.
Compliance Updates
BGaming Secures Swedish License

Rapidly expanding content provider continues European expansion with landmark Swedish license
Popular iGaming content provider BGaming is proud to announce it has been granted a license by the Swedish Gambling Authority (Spelinspektionen), marking a significant milestone in its ongoing European expansion.
The B2B license has been issued under the Decision of the Swedish Gambling Authority. It allows BGaming to provide its innovative portfolio of certified games to licensed operators in Sweden.
For the first time, players in Sweden will be able to enjoy BGaming’s exciting game catalogue. This includes popular titles like Merge Up and Aztec Clusters, as well as any new and exciting games that hit the market.
This entry into the Swedish market is a significant step forward in BGaming’s ongoing expansion. The Swedish market is renowned for its high standards of player protection and robust regulatory framework. It is also home to some of the most respected operators in the industry, creating a wealth of opportunities for BGaming.
BGaming’s Head of Legal & Compliance, Antanina Ivanova, said: “Securing approval to enter Sweden marks a significant milestone for us in one of Europe’s most competitive markets.
Our team is always working to ensure full compliance with the highest regulatory standards, and being granted entry into one of the industry’s toughest markets is a testament to this.
We look forward to partnering with leading operators in Sweden and introducing our distinctive gaming experiences to local players for the first time.”
The post BGaming Secures Swedish License appeared first on European Gaming Industry News.
Campaign for Fairer Gambling
Final CFG USA 2024 Online Gambling Report Confirms: Crime Wins After Years of Legalization

The Campaign for Fairer Gambling (CFG) has released 2024 CFG USA State Supplement #2: All States, the final report in its landmark CFG USA 2024 Series, warning that the rapid expansion of legal online gambling is fueling more gambling and higher consumer losses – all without displacing crime from the total marketplace.
The analysis, produced by technical marketplace intelligence platform Yield Sec, offers the most comprehensive national and state-by-state breakdown ever produced across the US online sports betting, casino, and poker marketplaces. It shows that states with more legal operators record the highest Gross Gambling Revenue (GGR) per capita as a percentage of income – but, illegal operators continue to dominate, with 74% of total GGR across US online gambling being stolen by crime during 2024.
In 2024, the total US online gambling marketplace was worth $90.1 billion, of which $67.1 billion (74%) was illegal. The illegal sector grew by 64% year-on-year, outpacing the legal sector’s 36% growth.
There are three states with legalized online sports betting where the market is below the average of 0.31% GGR per capita as a percentage of income for states with no legalization, being Oregon, Maine, and Arkansas. These states have operator numbers of Oregon 1, Maine 2, and Arkansas 3, for an average of 2, below the national average of 9.
There are three states with both legalized online sports betting and casino gaming where the market is below the average of 0.77% of GGR per capita as a percentage of income for states with legalization of online sports betting only, being Delaware, Rhode Island, and Connecticut. These states have operator numbers of Delaware 4, Rhode Island 2, and Connecticut 3 for an average of 3, below the national average of 14.
There is a pronounced correlation between having a small number of legal operators and lower GGR per capita as a percentage of income.
The proponents of legalization assert that having more legal operators is better for competition and implies that this will help reduce the size of the illegal sector. The evidence, contained in CFG reporting from years of monitoring and the most comprehensive study ever conducted upon the US online gambling marketplace at both the national and state levels, contradicts this assertion.
Derek Webb, Founder and Funder of CFG, said: “The onus is on the proponents of legalization to provide an explanation as to how they managed to get it so wrong – at the least, they should apologize to the legislators they influenced based on their misleading representations. There should now be a moratorium on state expansion until effective action reduces illegal revenues and enables effective control of online gambling marketplaces.”
Ismail Vali, founder and CEO of Yield Sec, added: “Decades of illegal online gambling in the USA were meant to end with legalization and regulation. The hope was simple: legal, licensed options in each state would ‘channelize’ the marketplace and eliminate illegal gambling. This has not happened.
“Seven years after state legalization began in 2018, the US online gambling marketplace remains a fortress of crime, and the zero-sum game hope that legalization and regulation would, on their own, remove crime, has failed. Illegal gambling isn’t one problem – it’s many. You can only control it through process – MPEO: Monitor, Police, Enforce, Optimize. Crime has now stolen hundreds of billions of dollars from American commerce and communities over more than three decades – it’s time to make this end.”
The post Final CFG USA 2024 Online Gambling Report Confirms: Crime Wins After Years of Legalization appeared first on Gaming and Gambling Industry in the Americas.
-
gaming3 years ago
ODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory8 years ago
iSoftBet continues to grow with new release Forest Mania
-
News7 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News7 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry8 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News7 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry8 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News7 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018