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UNODC: Casinos and Cryptocurrency Fueling Underground Banking and Crime in Asia

Published

2 years ago

January 18, 2024

Reading Time: 3 minutes

A new report by the United Nations Office on Drugs and Crime (UNODC) has found that casinos, junkets and cryptocurrency have emerged as a critical piece of the underground banking and money laundering infrastructure in East and Southeast Asia, fuelling transnational organised crime in the region.

Titled “Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden, Accelerating Threat”, the study highlights the nexus between illegal online casinos, e-junkets and cryptocurrency exchanges that have proliferated in recent years alongside surging cross-border criminality throughout the region.

“Casinos and related high-cash-volume businesses have been vehicles for underground banking and money laundering for years, but the explosion of underregulated online gambling platforms and crypto exchanges has changed the game. Expansion of the illicit economy has required a technology-driven revolution in underground banking to allow for faster anonymized transactions, commingling of funds, and new business opportunities for organized crime. The development of scalable, digitized casino- and crypto-based solutions has supercharged the criminal business environment across Southeast Asia, and particularly in the Mekong,” said Jeremy Douglas, UNODC Regional Representative for Southeast Asia and the Pacific.

As outlined in the report, countless recent cases demonstrate that online casinos and related businesses have been used by major organised crime groups to move and launder massive volumes of state-backed fiat as well as cryptocurrencies, effectively creating channels for integrating billions in criminal proceeds into the financial system. At the same time, the creation and success of these underground banking mechanisms has helped expand the region’s broader illicit economy, in turn attracting new networks, innovators and service providers to the criminal ecosystem.

Cases examined also highlight how illegal online casino operators have diversified business lines to include cyberfraud and cryptocurrency laundering, with extensive evidence of organised crime influence within casino compounds, special economic zones and border areas, including those controlled by armed groups in Myanmar to conceal illicit activities.

“Organized crime groups have converged where they see vulnerabilities, and casinos and crypto have proven the point of least resistance. That said, operations against syndicates in countries including Cambodia and the Philippines have caused a partial displacement, and we have seen criminals moving infrastructure into other places where they see opportunity — basically where they expect they will be able to take advantage and not be held to account, to remote and border areas of the Mekong, and recently elsewhere,” Douglas added.

UNODC analysis estimates there were more than 340 licensed and unlicensed land-based casinos operating in Southeast Asia as of early 2022, with most having shifted online to offer live-dealer streaming and various proxy betting services. According to latest available industry data, the formal online gambling market is projected to grow to more than US $205 billion by 2030, with the Asia Pacific region representing the largest share of market growth between 2022 to 2026 at a projected 37%. The study describes several policy developments and enforcement measures implemented by governments in the region to address illegal casino-based capital outflows, corruption, and money laundering that have in part driven these trends.

The technical policy brief describes the mechanics, intricacies and drivers of underground banking in the region, and has been developed through extensive examination and analysis of criminal indictments, case records, court filings, related public disclosure and other data collected in consultation with authorities and partners over more than a year. Its development has included an extensive mapping and analysis of thousands of so-called “grey and black business” online groups, including clear web and dark web forums and marketplaces, used for illicit activities. The study also provides a list of recommendations geared towards strengthening knowledge and awareness, legislation and policy, and enforcement and regulatory responses in the region, intended to assist governments to address the situation.

“It’s clear that the gap between organized crime and enforcement authorities is widening quickly. If the region fails to address this criminal landscape the consequences will be seen in Southeast Asia and beyond as criminals look to reinvest profits and innovate operations. We trust the report will prove as a useful reference for deeper engagement between countries in Southeast Asia, UNODC, and international partners. At this point, we are just scratching the surface,” said Benedikt Hofmann, UNODC Deputy Regional Representative.

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From ‘Mummyverse’ to Crash Games: Belatra Reviews a Landmark 2025

Published

2 days ago

December 23, 2025

George Miller

Editor’s Take

Why this matters: Belatra has been a steady hand in the slots world for a long time, but 2025 marked a distinct shift in strategy. By entering the Crash vertical with Goose Boom Bang and winning big at SiGMA Africa, the studio is clearly pivoting to capture the high-growth, high-frequency players in emerging markets. They are no longer just a “classic slots” developer; they are diversifying the portfolio to ensure relevance in regions like LatAm and Africa.

The Full Story

Belatra Games, the specialist online slots developer, has issued a strategic review of its 2025 operations, celebrating a 12-month period defined by entry into new game verticals, significant franchise expansion, and high-profile industry recognition.

The year was characterized by a dual strategy: deepening engagement in established markets while aggressively expanding its content portfolio to suit local preferences in emerging territories.

Portfolio Evolution: Crash and Battles 2025 saw Belatra move beyond its traditional slot roots. The company made its debut in the high-demand Crash game vertical with the launch of Goose Boom Bang, a title designed to tap into the fast-paced gameplay preference of younger demographics.

Additionally, the studio introduced a fresh game concept with the launch of Battles, a new format unveiled for the first time in 2025, with further development planned for 2026.

The ‘Mummyverse’ Expands For fans of classic slots, the highlight of the year was the aggressive expansion of the Mummyverse. Belatra nearly doubled the size of this franchise over the year, making it the most extensive game universe in their entire catalog.

The developer also focused on B2B localization, releasing a number of exclusive bespoke games created specifically for selected operator partners to meet specific local market tastes.

Awards and Recognition The company’s strategic shifts were validated by industry accolades. Belatra secured over 30 nominations throughout the year, with standout wins including:

Best Slot Provider (awarded by BitStarz).
Most Played Game of 2025 for Make It Gold at the SiGMA Africa Awards.
Player’s Pick Award.

Management Commentary Misha Voinich, Head of Business Development at Belatra, commented on the studio’s momentum:

“This year has truly defined who we are as a studio – ambitious, creative and focused on building long-term partnerships. We’ve expanded our universes, launched new ones and entered exciting new markets that will all help us carry this momentum into the New Year.”

The post From ‘Mummyverse’ to Crash Games: Belatra Reviews a Landmark 2025 appeared first on Gaming and Gambling Industry Newsroom.

Latest News

‘Chaos and Soul’: Ebaka Games Plots Global Expansion After Viral Launch

Published

2 days ago

December 23, 2025

George Miller

Editor’s Take

Why this matters: The “Instant Game” vertical (Crash, Plinko, Mines) is becoming crowded, but Ebaka Games is cutting through the noise with a distinct brand personality. By securing BMM Testlabs certification so quickly after launch, they are signaling to Tier 1 operators that despite their “chaotic” marketing vibe, the math underneath is solid and compliant. The backing of industry veteran Dmitry Belianin also adds immediate commercial credibility to the startup.

The Full Story

Ebaka Games, the fledgling studio that promises to bring “chaos and soul” to the iGaming sector, has outlined an aggressive growth strategy for 2026 following a landmark launch period in late 2025.

The studio, which officially debuted in November, reports that its initial rollout reached more than five million people worldwide. The launch saw its portfolio go live with the operator Menace, serving as the initial testbed for its mechanics and “Ebaka modes.”

The Product: Instant Games with Personality Ebaka is bypassing traditional slots to focus on the high-growth vertical of fast-paced, instant-win games. Their initial lineup includes:

Plinko
Mines
Tower
Limbo
Crash

Differentiation is achieved through unique mascots and signature gameplay tweaks designed to offer high win potential and distinct visual identities, moving away from the generic interfaces often found in this genre.

Regulatory Milestone Crucially for its 2026 roadmap, Ebaka Games has confirmed it has secured certification from BMM Testlabs. This accreditation validates the fairness and integrity of its RNG (Random Number Generator) and game engines, removing a major barrier to entry for regulated markets. With this certification in hand, the studio plans to launch with a number of “major brands” in the coming year.

Management Commentary Vitalii Zalievskyi, CEO of Ebaka Games, commented on the studio’s unorthodox approach:

“It’s only been a few weeks since we first introduced Ebaka Games to the world. The feedback has been breathtaking, and it vindicates the decision for us to take a different path to the rest of the industry. You don’t need huge marketing budgets to grab people’s attention if you are building something truly innovative.”

Industry Backing The studio describes itself as being “created by players for players” but boasts significant industry firepower in its corner. The team includes Dmitry Belianin, a well-known figure in the sector who is the co-founder of Blask and Menace, as well as Managing Partner at Already Media.

The post ‘Chaos and Soul’: Ebaka Games Plots Global Expansion After Viral Launch appeared first on Gaming and Gambling Industry Newsroom.

Latest News

Racing Meets Nightlife: SBK Backs ARC’s New ‘Friday Night Live’ Series

Published

2 days ago

December 23, 2025

George Miller

Editor’s Take

Why this matters: British racing has a well-documented demographic problem; its core audience is aging. “Friday Night Live” is a direct attempt to fix this by blending high-stakes racing with the “experience economy” (DJs, nightlife vibes) that appeals to Gen Z and Millennials. Bringing SBK on board—a mobile-first, app-only sportsbook—is a perfect demographic fit, while the Racing Post adds the necessary credibility to ensure the actual racing product remains the focus.

The Full Story

Arena Racing Company (ARC) has unveiled the strategic commercial lineup for its upcoming Friday Night Live series, confirming SBK as the Exclusive Betting Partner and The Racing Post as the Official Media Partner.

Set to launch in January 2026, Friday Night Live is a new initiative created in collaboration with youth-focused events company INVADES. The series is designed to overhaul the traditional race day experience, featuring fast-paced fixtures under floodlights, DJ sets, and significant entertainment elements sandwiched between races.

The Commercial Deal

SBK: As the exclusive betting partner, the Smarkets-owned sportsbook will take naming rights and on-course branding for all 35 races. Crucially, these races will be broadcast live on mainstream television via ITV Racing as well as Sky Sports Research.
The Racing Post: As the Official Media Partner, the publication will provide content, coverage, and promotion across its digital platforms, aiming to bridge the gap between established racing purists and the new audience ARC hopes to attract.

A High-Stakes Experiment The series is not just a marketing exercise; it carries serious sporting weight. Each of the five scheduled nights will feature over £200,000 in prize money. The fixtures will rotate across three of ARC’s all-weather tracks: Wolverhampton, Newcastle, and Southwell.

Management Commentary David Leyden Dunbar, Group Director of Commercial Strategy at ARC, was clear about the target audience:

“We have been very clear that one of the aims of Friday Night Live is to engage the next generation of racing fans… Both [partners] have shown real enthusiasm to work with us… as well as using the platform that these fixtures will offer them to also engage with more established racing and sports fans.”

Adam Baylis, Marketing Director at SBK, added:

“Friday Night Live [is] a fresh and engaging concept that brings a new energy to British racing. SBK has always been built around sport… our focus is on enhancing the live race day experience in a fun, social and responsible way.”

The 2026 Schedule The series kicks off immediately in the new year: