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LeoVegas: A myth-enshrouded industry
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The gambling industry is a bit myth-enshrouded, including by a number of falsehoods about it. Below we explain a few of the things that are often questioned or unknown in an area intended to provide entertainment and relaxation for many people. In Sweden alone, hundreds of thousands of people play games every week.
A young company with Swedish roots
Many people do not know that LeoVegas was established in 2011 in Sweden by two individuals, that the Parent Company is Swedish, and that LeoVegas has a gambling licence that is regulated by the Swedish Gambling Authority. LeoVegas is also regulated in several other countries, which entails continuous oversight by licensing bodies and authorities. This is just like many other regulated industries, such as banking and telecom.
Who owns LeoVegas?
LeoVegas’ stock is listed on Nasdaq Stockholm, and roughly 85% is owned by Swedish shareholders, including mutual funds, insurance companies and more than 15,000 private investors (as per 1 January 2020).
Can anyone play as much as they want?
LeoVegas puts strong emphasis on ensuring that players have the financial means to support their gaming, and that players do not exhibit unsound gaming behaviour or signs of such a tendency. Many control mechanisms are in place, including algorithms that monitor gaming behaviour, personal contacts, and tools that players themselves can use, for example, to regulate the amount of time they spend playing and set amount limits.
How young can you be to play?
LeoVegas has an age limit, and you must be 18 to play.
What does a person need to do to limit their gaming?
LeoVegas offers various options for players to limit their gaming. LeoSafePlay, which is LeoVegas’ proprietary tool for responsible gaming, is one way. The website Spelpaus.se is another means, whereby players can limit their gaming with all gambling companies that have a licence to conduct gambling for money in Sweden. Players can also block themselves from playing and from direct marketing for one, three or six months, or until further notice. Other markets have similar self-blocking systems, such as Rofus in Denmark and GamStop in the UK.
Do the same rules apply for all gambling companies?
In licensed markets, all operators work under the same rules, which is important for consumer protection, among other things. Unfortunately, every regulated market has a black market, entailing gaming outside of the licence system. For example, in Sweden players can play with unlicensed gambling companies, which to not abide by the Swedish rules. These companies do not pay any gambling taxes, and the blocking mechanisms provided by Spelpaus.se do not work. There is no oversight of these companies, and there is a large risk that they are used for money laundering.
How much is the gambling tax?
Most countries have a gambling tax. In Sweden, revenue from gambling tax amounted to an estimated SEK 3.6 bn in 2019. This is tax revenue that was previously excluded from the national treasury. This amount corresponds to the costs (salaries and related payroll costs) for 5,100 nurses per year, or roughly twice the budget of the Swedish Security Service.
How much does LeoVegas play in gambling taxes?
The gambling tax rate varies from country to country. In Sweden it is 18%, while in the UK it is 21%. In total LeoVegas paid EUR 49.7 m in gambling taxes in 2019 (corresponding to SEK 525 m). In Sweden LeoVegas paid SEK 153 m in gambling taxes in 2019.
How much are the winnings at LeoVegas? How large is LeoVegas share of winnings?
For every krona in wagers with LeoVegas, 93%-98% goes back to players in winnings. This can be compared with other popular games in Sweden, such as V75 (pari-mutuel horse racing), where 65% of wagers go to winnings, or Triss (scratch lotteries), where only 49% of players’ wagers are returned in winnings. In general, the state-controlled operators in the various countries offer a considerably lower share of winnings to players than what LeoVegas and other commercial operators offer.
Why does LeoVegas have operations in Malta?
The island nation of Malta, which borders to Sicily and the rest of Italy, is a republic with a population of just under 500,000 and a member of the EU. Historically, gambling in many European countries has been run as a state monopoly, including Sweden until 2019. Malta was out early in offering a European gambling licence, under which gambling companies could offer their services to countries within the EU entirely legally. This was the starting shot and the main reason why many companies chose to establish themselves in Malta, including LeoVegas. Apart from this, the sunny climate and Mediterranean Sea attracts many to work on the island, which facilitates recruiting. Malta is the prime hub for gaming in Europe, and a number of large European gambling companies are domiciled in Malta.
How many people work for LeoVegas?
LeoVegas has approximately 800 employees from nearly 60 countries (including more than 400 in Malta and just under 200 in Sweden). The company has extensive breadth in its employees’ expertise, including 250 IT specialists, gaming developers and product specialists, 40 lawyers, five specialists in artificial intelligence, 20 designers, 80 people who work with marketing, 50 HR specialists, 35 economists and 150 customer service representatives. A total of some 70 people work with compliance and responsible gaming. LeoVegas is constantly searching for additional talent.
How many customers does LeoVegas have?
LeoVegas has roughly 500,000 active customers, and during a given month LeoVegas handles more than 1.2 billion gaming transactions.
What does LeoVegas provide for players and for society?
With ease of accessibility LeoVegas provides a moment of relaxation and entertainment for everyone (18 years and older). People have played games through the ages – even when the Great Wall of China was built, parts of it were financed by lotteries.
LeoVegas contributes large amounts to countries’ treasuries as a taxpayer through gambling taxes, income taxes, employer payroll taxes and other taxes.
LeoVegas is part of the Swedish IT wonder. The company employs highly educated people in programming, technology, search engine optimisation and artificial intelligence. It offers attractive jobs at numerous offices, including in Malta, where 412 work, and in Sweden, where LeoVegas has 182 employees in Stockholm, Västerås and Växjö.
What is LeoVegas doing to address players who exhibit an unsound relationship to their gaming?
Advocating for sound gaming and being vigilant about where gaming wagers come from have top priority. The part of our operations that addresses customers’ gaming is called responsible gaming.
The part of operations that is working to counter money laundering is called Anti-Money Laundering (AML). Put simply, money laundering refers to an operation where black money, i.e., money that has been obtained illegally, is used in a way that it appears to be legally originated or can be used for private consumption without raising suspicions. Black money can be, for example, money that has been received legally, in private or through business, but which has avoided taxation, or money that has originated from criminal activity, such as smuggling, drug trafficking or theft. Today the concept of money laundering also refers to legally or illegally obtained money that is used to finance terrorism.
Following is a description of a few areas in which LeoVegas is working on this issue:
- Responsible gaming
- LeoSafePlay
- Anti-Money Laundering (AML)
Responsible gaming
The responsible gaming department receives information on a continuous basis from all departments that have customer contact, such as customer support, the risk department, the fraud and payments departments, and so on. They review customer accounts to determine if there is a need to contact individuals based on their gaming behaviour and also based on customers’ correspondence with LeoVegas. The company also conducts proactive reviews of customer behaviours and trends in customers’ transactions to be able to identify a need to act. Following a thorough analysis, a decision is made on any measures to be taken. This may be in the form of an email, phone call, or offering education and/or information on unsound gaming. LeoVegas also has a dedicated website, separate from the Group’s gaming website, called LeoSafePlay. Here customers can find additional information about responsible gaming and tools to help individuals who may have a potential problems. LeoSafePlay is also targeted at family members or relatives of persons who exhibit unsound gaming behaviour.
LeoSafePlay
LeoSafePlay is the name of LeoVegas’ platform and work approach for responsible gaming. It incorporates everything from technology and technical solutions to the daily work in the operating activities with this issue. LeoSafePlay also includes the website LeoSafePlay.com, where players themselves can assess their gaming profiles and set time limits and wagering limits for their gaming, among other things. The website is a source of all information surrounding the company’s work with responsible gaming. One of the most important technical solutions used by LeoSafePlay is built upon extensive data analytics to proactively create a long-term relationship with customers and promote responsible gaming.
Central self-exclusion system
On the external website Spelpaus.se, individuals can block themselves from all gambling and from direct marketing during a self-chosen period. Unfortunately, the site does not cover unlicensed companies that operate and advertise in Sweden. This represents more than SEK 700 m in lost revenue to the country’s treasury.
Anti-Money Laundering (AML)
LeoVegas’ Anti-Money Laundering (AML) department works closely with the customer support and compliance departments to ensure full compliance with regulatory requirements and LeoVegas’ policies and routines. This is done by applying a risk-based approach employing system-generated warnings, transaction monitoring algorithms and specialist-trained employees augmented by mandatory training for all employees in the organisation. Identification of fraudulent behaviour helps reduce risks that the company may be exposed to daily. AML risk assessment has high priority and is initiated as soon as a customer registers with LeoVegas.
FACTS ABOUT THE SWEDISH MARKET
How many companies have gambling licences in Sweden?
After the new Gambling Act (Spellag (2018:1138)) came into force on 1 January 2019, 96 companies are now licensed in Sweden (as per 5 March 2020).
How much money do swedes spend on gaming?
Customers in Sweden (18 and older) spend an average of SEK 173 per month with operators licensed in Sweden, net, i.e., after paid winnings. Added to this is gaming with operators without licences, amounting to an estimated SEK 70 per month. (By gaming is meant gaming for money, i.e., where the chance of winning to various degrees is based on odds. Source: Swedish Gambling Authority2018 https://www.spelinspektionen.se/om-oss/statistik/).
What portion of the Swedish population plays games?
Sixty per cent of all Swedes say that they have played for money during the last 12 months. Of those who play, 33% play once a week, and 58% play once a month. Lotteries and pari-mutuel horse racing are the most common forms of gaming/betting. Seventy-five per cent of those who have played games have bought lottery tickets, 38% have bet on horses, and 5% have played casino games. Number games, such as Lotto, account for 50%, and sports betting, such as Oddset, account for 21%. (In this compilation, players may have played more than one type of game, which is why the sum is greater than 100%.) The gender breakdown for gaming is even.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: LeoVegas: A myth-enshrouded industry
This year has been an exciting journey for SmartSoft. Both internally and externally, the company has undergone significant transformation. SmartSoft continues to pursue ambitious goals driven by teamwork and unity. The company fosters a culture of collaboration, where team members and partners support one another, share objectives, and work towards common interests. This synergy is powered by a diverse group of individuals, united by a shared mission to redefine the iGaming industry.
As a result, the number of unique customers grew by an impressive 75%—a remarkable achievement.
So, how did SmartSoft achieve such success?
Team Expansion and User Growth
SmartSoft made great progress this year by adding 40 new team members, strengthening its skills and knowledge across different areas. This expansion helped create a more dynamic work environment and played a key role in improving the company’s overall performance. As a result, SmartSoft saw an impressive 75% growth in unique users compared to last year. This increase in users highlights the company’s growing global reach, its ability to attract a wide audience, and its commitment to offering exciting and innovative gaming experiences.
New Markets and Partnerships
This year, SmartSoft made remarkable strides by entering 25 new markets, significantly enhancing its global footprint. The company also established several strategic partnerships with leading operators and platforms, including Betfair, Betway, Stoiximan, Betnacional, LottoStar, Betmexico and Qtech. These collaborations are expected to unlock new opportunities and open doors to fresh audiences worldwide. SmartSoft is excited about the direction these partnerships will take, and more details about these ventures will be shared soon.
JetX’s Unstoppable Rise
Also, JetX as SmartSoft’s flagship and pioneer crash game proved that its actually top game not only for SmartSoft but in the whole iGaming industry – its users rose by 80% which is a great number to imagine.
If there’s anyone still unfamiliar with JetX, it was the pioneer crash game developed by SmartSoft. Since its launch, JetX achieved extraordinary success, becoming a favorite among players and partners alike. The game is always evolving with regular updates, as the SmartSoft team constantly works to make it even better. Its innovative gameplay, which challenges players to cash out at just the right moment, captivated audiences worldwide. Breaking records and redefining expectations. The continued rise of JetX signifies the company’s ongoing commitment to offering exciting, innovative, and highly engaging products to its users.
Performance of Top Games
SmartSoft’s portfolio of top games saw incredible engagement, with a great increase in user participation across its leading titles, including Balloon, Mine Island, HelicopterX, PlinkoX, and FootballX. This phenomenal growth demonstrates that the company’s gaming offerings are not just popular but are setting industry benchmarks for user interaction and satisfaction. It’s clear that SmartSoft’s games are playing a key role in redefining the entertainment experience for players worldwide.
Exciting New Games
This year, SmartSoft introduced a total of 18 new games, including three games and slot games, all designed to offer players a unique and immersive experience. Some of the most anticipated releases included:
- 4 Bonuses Bonanza – Plinko Spin
- Mad Slot
- Rodeo X
- Dracula’s Fortune
- Jungle Sisters Deluxe
- Samba da Deusa
These new games have attracted more than 2 million new users, underscoring their appeal and the growing demand for SmartSoft’s innovative approach to gaming. The diverse range of titles further strengthens SmartSoft’s position as a leader in the gaming industry, offering games tailored to every interest.
Partnerships and Sponsorships
SmartSoft strengthened its position in the global market by extending its partnership with the Argentine National Team. This collaboration now includes SmartSoft becoming the Official Crash Game Partner. Sponsoring the Argentine national team and being a member of the World Champions Family is proof of SmartSoft’s commitment. Through these initiatives, company aims to spread the spirit of football, which brings people together and fosters a sense of community. Through this renewal in 2024 with the Argentine Football Association and the Argentine National Team, SmartSoft continued on a journey that combined passion and excellence, where the worlds of business and gaming converged with the magic of Argentine football. The company expressed delight in continuing as the gaming partner in Europe for the Argentine National Team and voiced confidence that this collaboration would drive both the company and its games to new horizons. Additionally, plans were announced for new content and marketing actions featuring the stars of the national team.
Memorable Moments and Extraordinary Partnerships
2024 was a year of remarkable achievements and unforgettable experiences for SmartSoft. The company participated in 8 major industry exhibitions, earning prestigious nominations such as Best Innovator, Best Interactive Experience, and Best Crash Game. Beyond the awards, SmartSoft cemented its reputation for innovation and connection through extraordinary events and partnerships. The Legend Series brought partners face-to-face with football legends like Zanetti, Palacio, and Milito, while an exclusive Champions League experience in London with José Mourinho left lasting impressions. In Lisbon, partners enjoyed the privilege of meeting Javier Mascherano at the SmartSoft booth and engaging in personal conversations during a special dinner. The collaboration with the Argentine national football team reached new heights with an in-depth interview with Lionel Scaloni, offering an insightful glimpse into the team’s journey. Further strengthening its connection to the sports world, SmartSoft proudly partnered with Georgian football legend Shota Arveladze, strengthening its ties to the sports world and bringing people even closer together.
Additionally, the launch of the Partners’ Club during a three-day celebration in Georgia showcased the company’s commitment to fostering collaboration and shared success.
Licensing Achievements
SmartSoft reached several important licensing milestones in 2024, underscoring its commitment to expanding its global operations while adhering to regulatory standards. The company’s Greek license, originally obtained in 2023, became fully operational this year, allowing SmartSoft to expand its reach in the European market. The company also achieved authorizations in Peru and obtained compliance certification in South Africa, further strengthening its position in these growing markets.
Certifications
SmartSoft earned 79 new certifications in 2024, an impressive achievement that reflects the company’s dedication to maintaining the highest standards in the industry. These certifications cover a wide range of areas, reinforcing SmartSoft’s commitment to delivering top-tier products that meet international quality and regulatory standards.
Looking Forward
The year 2024 was one of remarkable growth, innovation, and unforgettable achievements for SmartSoft. As the company continues to build on this momentum, it remains committed to delivering exceptional entertainment experiences, expanding into new markets, and redefining the gaming landscape. SmartSoft is excited about what the future holds and is looking forward to further strengthening its position as an industry leader in the years to come.
As we step into the new year, SmartSoft continues to soar, staying true to its motto: Keep Flying Even Higher.
The post SmartSoft’s 2024 Story – Year of Growth and Success appeared first on European Gaming Industry News.
Latest News
Prague Gaming & TECH Summit 2025: The Must-Attend Event of the Year for Gaming and Tech Enthusiasts
The Prague Gaming & TECH Summit 2025, happening on 25–26 March, is shaping up to be one of the most anticipated events in the gaming and tech calendar. Set in the heart of Europe, this boutique-style conference is renowned for delivering cutting-edge insights, fostering meaningful networking, and tackling the industry’s most pressing challenges.
Key Highlights of the 2025 Agenda
This year, the summit promises a robust agenda that combines the latest in innovation with actionable strategies for growth. Attendees can look forward to:
- AI and Blockchain Innovations: Explore how artificial intelligence and blockchain are transforming operations, enhancing security, and redefining user experiences.
- Regulatory Challenges and Compliance: Stay ahead of the curve with expert insights into navigating Europe’s evolving regulatory landscape.
- Fintech Advancements: Learn about the latest payment solutions and technologies driving seamless transactions and user satisfaction.
- Sustainability & ESG Initiatives: Discover how the gaming and tech industries are embracing sustainability and responsible business practices.
Global Reach Without Leaving Europe
One of the standout features of this year’s summit is the dedicated panels on Latin America and North America. These sessions bring insights from two of the most dynamic gaming markets directly to European attendees. No need for long-haul flights—gain valuable knowledge from industry leaders as they discuss trends, opportunities, and challenges in these regions.
Networking in the Golden City
Prague’s status as a vibrant business hub and cultural gem makes it the perfect backdrop for this gathering. The event offers ample networking opportunities, from structured meetups to informal conversations, ensuring every attendee can connect with peers, industry leaders, and potential partners.
Why Attend the Prague Gaming & TECH Summit?
- Exclusive Access to Thought Leaders: Hear from speakers shaping the future of gaming and tech.
- Tailored Content: Topics designed to address regional and global industry needs.
- Hands-On Workshops: Gain practical insights to tackle real-world challenges.
- Boutique Atmosphere: A focus on quality over quantity ensures meaningful engagement.
The Prague Gaming & TECH Summit is more than just a conference—it’s an opportunity to be part of the conversations that will shape the future of gaming and technology.
👉 Register now and join us in the Golden City this March to be part of the innovation.
The post Prague Gaming & TECH Summit 2025: The Must-Attend Event of the Year for Gaming and Tech Enthusiasts appeared first on European Gaming Industry News.
NBA superstar Tristan Thompson is the latest big name to partner with Sportsbet.io, the world’s favorite crypto-first sports betting site, as its newest global ambassador.
Thompson, a Cleveland Cavaliers center and 2016 NBA Championship winner, will bring his star power and passion for cryptocurrency to the Sportsbet.io community for the next two years.
The Canadian basketball legend will be sharing his views on the latest action for Sportsbet.io, where fans will have the opportunity to take part in some exclusive promotions.
Tristan Thompson, Sportsbet.io ambassador, said: “Sportsbet.io brings together my two biggest passions: sports and cryptocurrency. I’ve been following the crypto sector for some time now and have seen how transformative it can be. There’s no better place to combine that with my love of sports than Sportsbet.io.”
Shane Anderson, Director Partnership, Content and Brand, Yolo Entertainment, the operator of Sportsbet.io, added: “We’d like to give a huge Sportsbet.io welcome to Tristan, an elite athlete whose passion for both basketball and cryptocurrency makes him a perfect match for us. We’re thrilled to have him on the team, and we already have some exciting plans in the works. Watch this space.”
Thompson’s crypto credentials are already well established; he’s been a vocal supporter of Bitcoin, and recently celebrated as it reached a new all-time high in price.
He will be providing weekly betting tips on a range of sports, including NFL, MLB, European soccer, tennis, golf, UFC and boxing.
The partnership with Thompson marks another exciting new chapter for Sportsbet.io, which has earned a reputation for both its innovative approach to gaming, and its star-studded line-up of ambassadors, including cricket legend Brett Lee, Kenyan rapper King Kaka and many more.
Sportsbet.io is also an official partner of LALIGA and Newcastle United.
The post NBA star Tristan Thompson signs for Sportsbet.io appeared first on European Gaming Industry News.
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