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MuchBetter Settles Outstanding Wallet Balances with EEA Customers Out of its Own Pocket as UAB PayrNet Continues to Withhold Customer Funds
MuchBetter has officially resumed service in Europe today after a lengthy disruption due to an investigation into its previous European partner (an electronic money institution that MuchBetter was an intermediary of), UAB PayrNet.
On June 22, 2023, the Bank of Lithuania made an announcement stating that it had decided to revoke UAB PayrNet’s license and initiate bankruptcy proceedings against it due to its severe and continuous regulatory breaches. This included anti-money laundering, reporting, safeguarding customers’ funds, sanctions and other requirements. The Bank of Lithuania also determined that due to revocation of the licence, UAB PayrNet must repay all customer funds within a given timeframe.
UAB PayrNet has since failed to settle with its customers by the August 22 deadline. MuchBetter’s legal team has made several concerted attempts to contact UAB PayrNet, all without success.
In keeping with the MuchBetter ethos of always putting its customers first and to ensure they do not suffer as a result of the UAB PayrNet issues, MuchBetter has chosen to settle the outstanding PayrNet balances of its European customers from its own funds. Settlements will be made via its new European partner with the final settlement figure expected to reach millions of euros.
The move showcases the financial strength of MuchBetter while also demonstrating it has fully invested in its return to the European market. It further expresses MuchBetter’s appreciation for its customers’ continued support and patience. MuchBetter shares its customers’ frustrations at such a lengthy process and decided to settle using its own company funds to prevent further disruption and provide reassurance to customers.
Once customers have accepted updated terms of service and agreements, MuchBetter customers in Europe will have access to both their accounts and previous account balances from before activity was paused in mid-February. More regulatory steps are required in some European countries, so while most customers can now access their funds, a few countries will have to wait a little longer. We will continue to keep our customers informed of developments.
With its return to Europe, MuchBetter has worked on improving the user experience of its digital wallet app, with further new and exciting features being delivered in coming months based on customer feedback and overall innovation.
“Now that the Bank of Lithuania’s investigation into UAB PayrNet has concluded, we are excited to be back operating in Europe,” a MuchBetter spokesperson said. “The Bank of Lithuania has confirmed that we had nothing to do with the UAB PayrNet investigation and we are relieved to now have this behind us. Most importantly, we’re glad we can help ease the worries of our European customers by settling their outstanding balances held by UAB PayrNet rather than waiting for UAB PayrNet to release their funds.
“We’d like to thank our customers for their patience and support and have some exciting things in the pipeline soon, including a loyalty programme.”
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Season 2 of the Series in Development for 2026
Esports World Cup: Level Up, the five-part docuseries from Emmy-winning filmmaker R.J. Cutler (Billie Eilish: The World’s a Little Blurry, Elton John: Never Too Late, Martha), is now streaming for free on Prime Video’s official YouTube channel.
The Level Up series, produced by This Machine (part of Sony Pictures Television) in partnership with the Esports World Cup Foundation (EWCF), offers an unprecedented look behind the scenes of the world’s largest esports and gaming festival, redefining what it means to be a champion in the digital age. A second season is now confirmed, continuing the story of the EWC and the next generation of Clubs and players shaping the future of global esports.
In the first season, Level Up captures human stories of the competition. From Oakland’s Soka of Team Falcons, a swaggering extrovert who defies gamer stereotypes while carrying the weight of a tough past, to FAKER of T1, a South Korean icon battling the loneliness of his own legend, each player’s journey reveals the person behind the avatar.
In the Philippines, 19-year-old Sanford of Team Liquid fights for his family after tragedy strikes, while Drazah of Atlanta FaZe traces his rise from a small shed in Alaska to the global stage. Indonesian sisters Chel and Cinny of Team Vitality lead a dominant women’s team even as personal loss tests their resolve.
Beyond the players, Yevhen Zolotarov of NAVI competes to support a war-torn Ukraine, and Mossad Aldossary, the 24-year-old CEO of Team Falcons, shoulders the hopes of a nation as he strives to keep the championship at home in Riyadh.
Together, their stories reveal what truly drives esports’ greatest figures, not just victory, but purpose, pride, and resilience.
Stay tuned for more information about Season 2 of Esports World Cup: Level Up.
The post Esports World Cup: Level Up Now Streaming on Prime Video YouTube Channel appeared first on European Gaming Industry News.
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Innovecs Games Hosts Expert-Led Webinar: “From Crisis to Clarity — A New Blueprint for AAA Game Development”
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Innovecs Games, a leading game development studio under the Innovecs brand, announces its upcoming live webinar: From Crisis to Clarity: A New Blueprint for AAA Game Development!
Following two years of widespread studio closures and layoffs, the webinar will focus on how forward-thinking teams are reimagining workflows and talent structures to sustain creativity, efficiency, and innovation.
Confirmed speakers include:
- Nader Alikhani, VP of Games at Innovecs
- Chris Rowe, Business Development Director at Innovecs Games
- Amir Satvat, Founder of Amir Satvat’s Games Community
- Sam Carlisle, Co-Founder of XDS Spark
“These conversations are crucial as we collectively reimagine how the AAA ecosystem can thrive,” said Nader Alikhani, VP of Games at Innovecs. “Our goal is to share not just insights — but real frameworks for sustainable growth and creative resilience.”
The event will take place on November 19, 2025, at 9:30 AM PDT / 6:30 PM CET, and will include a live Q&A session. Participation is free and open to all professionals in game development and production.
Register here: innovecsgames.com/online-webinar-future-of-aaa-development/
The post Innovecs Games Hosts Expert-Led Webinar: “From Crisis to Clarity — A New Blueprint for AAA Game Development” appeared first on European Gaming Industry News.
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Softquo Holding to showcase integrated content strategy for Caribbean market at GAT Expo Santo Domingo
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Softquo Holding, the international technology group driving innovation across the global igaming sector, announced its participation at GAT Expo Santo Domingo 2025 (12th–13th November). The group will present the unified strength of its ecosystem, featuring industry leaders GoldenRace and Spinmatic, at Stand B3, highlighting a complete content and technology strategy for the burgeoning Dominican and Caribbean markets.
Softquo Holding’s focused presence in Santo Domingo acknowledges the region’s rapidly ascending market status. The Dominican Republic is emerging as a crucial igaming hub, bolstered by the imminent regulation of online gaming and a strong commitment to transparency and prevention of money laundering. GAT Expo Santo Domingo represents the essential meeting point for operators seeking secure, scalable and high-performance solutions in this high-potential region.
At Stand B3, Softquo Holding is dedicated to demonstrating how the combined expertise of its brands delivers holistic, integrated solutions for every betting and content vertical:
- GoldenRace: Highlighting the global market’s leading Virtual Sports, including the high-revenue Multiplier feature on horse and dog races and the dedicated LatAm solution, Baseball2Win, designed for unparalleled player engagement.
- Spinmatic: Showcasing a premium portfolio of slots and casino games, engineered for immersive gameplay and deep resonance with Caribbean and global audiences, driving increased Lifetime Value.
- Novusbet: Available for strategic discussions regarding its next-generation sportsbook and omnichannel platform technology, essential for rapid customisation and market entry.
Meet the Softquo Holding team at Stand B3 on 12th and 13th November to discuss how this unified content, platform and technology approach can immediately elevate your strategic growth in the Caribbean and LatAm markets.
The post Softquo Holding to showcase integrated content strategy for Caribbean market at GAT Expo Santo Domingo appeared first on European Gaming Industry News.
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