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Swedish Regulator Penalises ATG and Spooniker Over Deposit Cap Loophole

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Swedish Regulator Penalises ATG and Spooniker Over Deposit Cap Loophole
Swedish Regulator Penalises ATG and Spooniker Over Deposit Cap LoopholeReading Time: 2 minutes

 

Swedish Gambling Authority Spelinspektionen has fined both Kindred brand Spooniker and former racing monopoly AB Trav och Gallop (ATG) SEK1m a week after discovering a loophole that allowed customers to circumvent the country’s controversial deposit cap.

Both sanctions come from a July 2020 inspection in order to ensure that operators were complying with the country’s SEK5000 deposit cap for online casinos, implemented because of the Covid-19 pandemic.

Both operators were required to explain how they complied with the rule, and each said it made all players set a deposit limit as is required by Swedish law. Those with a limit of more than SEK5000 were only permitted to use the operator’s betting offering.

However, Spelinspektionen pointed out that a player could simply set a high limit, deposit more money and then lower their limit and play online casino games with more than SEK5000.

ATG said fewer than 100 players raised their deposit limit on its site, deposited more money and then lowered their limit again and said it contacts players who show signs of problem gambling. It added that those who repeatedly alter their limits in a manner that suggests they have a problem are blocked from playing.

Both operators also said that the rules concern deposit limits that must be in place for online casino players, rather than the size of the deposits currently in an account, so it argued its implementation of the rules was fair.

“To apply the provision in the way that Spelinspektionen has would be contrary to the principle of legality. ATG has implemented the provision in accordance with the wording and in accordance with the Government’s memorandum,” ATG said.

However, Spelinspektionen pointed to a line in the law that said operators must “ensure that the limit cannot be exceeded.” It said that licensees must ensure that players do not spend more than SEK5000 of weekly deposits on online casino games.

“If it turns out that a player through can add more than SEK 5000 per week for online gaming, e.g. by first putting in money under the pretense that they will be used for betting, but then making the money deposited available for online gaming, the licensee is not considered to act in accordance with the temporary regulation,” it said.

In addition, it noted that this loophole allowed players to spend up to SEK50,000 of new deposits in a week on online casino games.

“That fact that ATG has chosen to suspend a number of players who have bypassed the deposit limits in the manner described above do not change the Swedish Gaming Inspectorate’s assessment, but only reinforces the image that the way that ATG has chosen to manage the deposit limit does not fulfill its function,” it added.

Spelinspektionen ruled that the breach of the rules could neither be classed as serious – which could lead to a licence revocation – or trivial, which would allow just a fine to be applied.

It ordered both operators to close the loophole immediately and pay a fine of SEK1m for every week it remains open, starting three weeks from the publication of the ruling.


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: Swedish Regulator Penalises ATG and Spooniker Over Deposit Cap Loophole

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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7777 gaming joins the World Lottery Association as a Member

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7777 gaming, a leading provider of innovative iGaming content, is proud to announce its membership in the World Lottery Association (WLA). As a recognized organization shaping the regulated lottery and sports betting ecosystem, the WLA provides value to its members by supporting their efforts to create a positive societal impact while upholding the highest standards of integrity and responsible gaming.

For over a decade, the 7777 gaming team has been developing an extensive portfolio of lottery products for both online and offline gaming markets. Today, the company is focused on providing digital lottery solutions, offering a comprehensive range of products, including Electronic Scratch Tickets, Instant Win Games, Ticket Lottery, Sports Lottery, Instant Keno & Bingo, Slottery, and more.

Elena Shaterova, Chief Commercial Officer at 7777 gaming, expressed the company’s excitement about joining the WLA, stating: “Becoming a member of the World Lottery Association is a significant step for 7777 gaming as we continue to expand our footprint in the regulated lottery market. We are committed to adhering to the highest standards of responsible gaming and integrity, and we believe that our partnership with the WLA will help us achieve these goals while contributing positively to the industry as a whole.”

Luca Esposito, WLA Executive Director, commented: “We are delighted to welcome 7777 gaming as a new member of the World Lottery Association and look forward to collaborating with them.”

Furthermore, 7777 gaming is excited to announce its participation in the upcoming World Lottery Summit (WLS) 2024, organized by the WLA and FDJ. The event will take place in Paris, France, from October 21 to 24, 2024, and will gather the global lottery and sports betting community to discuss key industry trends and developments.

The summit will revolve around the theme, “Impacting Society Together,” and will explore three crucial pillars: Impact of lottery and sports betting operators’ know-how, Society at the heart of lottery and sports betting operators’ values, Together we are stronger.

As a new WLA member, 7777 gaming looks forward to actively participating in the discussions and contributing to the future of the regulated lottery and sports betting ecosystem.

The post 7777 gaming joins the World Lottery Association as a Member appeared first on European Gaming Industry News.

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Gaming Americas Weekly Roundup – September 23-29

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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International Game Technology PLC (IGT) has announced that Shondra DeLoach-Perea, IGT Vice President Field Services, Call Centers and Technology Operations, has been named a recipient of Global Gaming Women’s (GGW) 2024 “Patty Becker Pay it Forward Award”. The annual award programme honors women in the gaming industry who have contributed to GGW’s initiatives and helped support women in their organisation and community.

Caesars Entertainment has launched the Caesars Sportsbook Muckleshoot app, which is now accepting mobile sports bets at Muckleshoot Casino Resort in Auburn, Washington. Guests 21 and older who are interested in wagering on mobile devices can download the Caesars Sportsbook Muckleshoot app and must be physically present on the property at Muckleshoot to verify their registration for an account and place wagers during their visit, in accordance with state law.

Aristocrat Technologies, a leading global provider of gaming solutions, has achieved a significant legal victory in Aristocrat’s case against Light & Wonder (L&W) concerning infringement of Aristocrat’s intellectual property, including misappropriation of Aristocrat’s trade secrets in connection with L&W’s Dragon Train game. On September 23, 2024, Judge Gloria M. Navarro of the United States District Court for the District of Nevada issued a decision granting Aristocrat’s motion for a preliminary injunction on its trade secret claims against L&W.

Jim Collopy has become the champion of the 2024 Poker Masters presented by the PokerStars NAPT. Collopy cashed in four consecutive events during the eight-event series, amassing $521,600 in prize money and securing the coveted Poker Masters Purple Jacket. He also earned a $25,000 PokerGO Tour (PGT) Passport and a PokerStars Gold Pass for his victory.

JCM Global has been licensed by the Colorado Division of Gaming, authorising JCM to sell the TITA Table Game System directly to customers throughout the state, in addition to its other leading transaction and automation solutions. The license builds on JCM’s more than 170 active gaming licenses the company holds and maintains across North America and around the world. Most recently, JCM earned licensing in the State of New Mexico.

New Partnerships

LexisNexis Risk Solutions has announced a strategic alliance with Radar, a recognised leader in geofencing technology. This collaboration integrates Radar’s robust geofencing, mapping and geo-compliance capabilities with the advanced data and technology from LexisNexis Risk Solutions. Together, they will deliver a robust solution for gaming and gambling operators, that will help ensure that devices used for online gambling in the US comply with applicable state regulations.

Quick Custom Intelligence (QCI) and The Casino at Nemacolin have announced a strategic partnership that promises to revolutionise the gaming and hospitality industry in the western Pennsylvania market. This strategic alliance sets the stage for an exciting fusion of technology and hospitality, with The Casino at Nemacolin at the forefront.

Sportingtech has announced a new partnership with 23:59. The partnership reinforces Sportingtech’s dedication to offering operators efficient tools to enhance their ability to develop localised campaigns and reach clients globally, particularly in Brazil. 23:59, with its global sports events and holiday consolidation, simplifies the planning of successful campaigns aligned with these events.

The post Gaming Americas Weekly Roundup – September 23-29 appeared first on European Gaming Industry News.

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SOFTSWISS Becomes Employer of the Year at SBC Awards 2024

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SOFTSWISS celebrates its success at the esteemed SBC Awards, triumphing in the Employer of the Year category. The SBC Awards took place in Lisbon, crowning all SBC Summit events with a memorable ceremony. 

Providing premier networking opportunities in a dynamic and memorable setting, the SBC Awards honours excellence across the gaming and betting industry. Notably, SOFTSWISS, alongside reputable industry leader, Betsson Group, garnered the biggest number of nominations, being shortlisted for 8 categories. The Employer of the Year category rewards companies that provide exceptional working conditions for their employees. 

SOFTSWISS experienced significant growth last year, expanding its workforce by 22% to over 2,000 employees across 26 countries, working from comfortable offices or remotely. The employer fosters an inclusive and dynamic work environment with a near-equal male-to-female ratio and a strong commitment to employee well-being and professional growth. 

The company provides extensive development programs, with over 800 employees participating in training initiatives and over 700 benefiting from free language courses. Employees enjoy comprehensive health insurance, flexible work options, and mental health support through the company’s mental health program. 

SOFTSWISS prioritises employee engagement through wellness programs, environmental campaigns, charity projects, and sports activities. Recently, the company organised community-driven events like quests, tree planting, and animal aid volunteering, and also participated in relief programs for flood victims in Brazil and Poland. 

Through initiatives like the Book Club and Sports Community, SOFTSWISS continues to support employee growth and foster a strong sense of involvement. The Company encourages personal and professional achievements by offering sports compensation, celebrating special events, and operating the internal rewards shop, WIN STYLE.

Natalia Perkowska, Deputy Chief HR Officer at SOFTSWISS, expresses her gratitude: “We are happy to achieve such a valuable recognition. Guided by core values like ‘WE CARE’ and ‘WE SEE PEOPLE,’ SOFTSWISS prioritises employee well-being, professional growth, and satisfaction. Our talented team is one of our most valuable achievements, and we are really proud of it.”

In January 2024, SOFTSWISS earned the Great Place To Work® certification in Poland, a testament to its dedication to creating a positive workplace culture. SOFTSWISS’ Values Fest held in 2023 in Turkey was recognised among the best corporate events of the year.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Becomes Employer of the Year at SBC Awards 2024 appeared first on European Gaming Industry News.

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