Connect with us
SIS

Compliance Updates

Maltese Company Yobetit Welcomed by Swedish Market

George Miller

Published

on

Maltese Company Yobetit Welcomed by Swedish Market
Reading Time: 2 minutes

 

Yobetit recently acquired its Swedish license, providing the Maltese iGaming company with the opportunity to break into the Swedish market – and that’s exactly what they’ve done.

Prior to obtaining the Spelinspektionen Swedish license, Yobetit’s marketing was focused on Maltese players, but now the horizon has widened. Swedish players are flocking to sign up with Yobetit’s betting, lotto and casino platforms, and Yobetit’s player base is already shifting the scales towards its Swedish players.

The Maltese company is growing on the international market, and is looking to become one of Sweden’s biggest sports brands. Yobetit has already been adopted as many of the top Swedish influencer’s favourite sportsbooks.

Yobetit is not only making an impact on betting, but the company is also showing its support in Sweden. Yobetit is sponsoring local and upcoming events such as Swedish Padel Open taking place in June, as a way to give back to sports and local talent.

“Obtaining a license through Lotteriinspektionen opens a lot of opportunities for Yobetit. Our platform is proprietary which allows us to securely and reliably offer betting, lotteries and casino to Swedish players. The competition is harsh, however, I’m very positive that our fresh portal, being mobile first will attract and fulfill the player’s needs for years to come. We are not new in the Swedish market, and understand the needs of both the players and the regulatory body, making it our top priority for the coming months. Our plan is to keep moving forward and accomplish great things as we have done over the past few years.” said CEO Nikolai Livori

“ Swedish players are welcoming Yobetit with open arms, and we couldn’t be happier to provide our service to them. Yobetit continues to grow internationally and we hope to keep up the momentum.” Michael H

Head to Yobetit.com to find out more.

 

Yobetit.com is licensed by Spelinspektionen (Swedish Gambling Authority). License number 18Li12831 issued on 11th April 2019. Yobetit.com Ltd is duly registered on the 12/10/2012 under the laws of Malta with registration number C57860, having a registered address at Mdina Road, Haz-Zebbug, ZBG 9018, Malta, and licensed and regulated by the Malta Gaming Authority (MGA) under the following license: MGA/B2C/227/2012 issued on 1st August 2018.

George Miller 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.

Continue Reading
Advertisement
Comments

Compliance Updates

MGA Cancels the Gaming Licence of Wish Me Luck Ltd

Niji Narayan

Published

on

MGA Cancels the Gaming Licence of Wish Me Luck Ltd
Reading Time: 1 minute

 

The Malta Gaming Authority has cancelled the gaming licence of Wish Me Luck Ltd.

Wish Me Luck Ltd has thus been directed to proceed with the cancellation process of the authorisation and to suspend all gaming operations with immediate effect.

The Malta Gaming Authority notifies that any websites operated by Wish Me Luck Ltd or associated with Wish Me Luck Ltd and which make reference to the Authority or the above-quoted licence is not approved to be operational by the Authority.

Continue Reading

Compliance Updates

EGBA Brings Case Against Online Payment Blockings In Norway

George Miller

Published

on

EGBA Brings Case Against Online Payment Blockings In Norway
Reading Time: 2 minutes

 

This week the European Gaming and Betting Association (EGBA), along with Entercash payments processor, brought a case against the Norwegian Ministry of Culture in Oslo District Court over the Norwegian government’s policy of seeking to block online gambling payments.

EGBA believes payment blocking infringes on European Union law and the freedom of payment processors to do business across the European Economic Area (EEA).

Instead of enforcing restrictive payment blocking measures to protect the revenues of the state monopoly and fend off outside competition from EU-licensed operators, EGBA urges the Norwegian government to undertake a more fundamental review of how the country regulates online gambling.

The adoption of a multi-licensing regime – like in the vast majority of EEA countries, including those with existing state-owned monopolies – would improve the functioning of Norway’s online gambling market and bring with it several other benefits.

Online gambling is a consumer-driven market – but monopolies naturally restrict consumer choice. This lack of choice available locally might lead some Norwegian players to search elsewhere and play on gambling websites based outside of Norway – which neither apply Norwegian laws nor pay taxes in Norway.

The introduction of a multi-licensing regime would enable a greater variety of products, brands and competition on the Norwegian market to meet existing consumer demand. This would make the local market more attractive to Norwegian players and encourage more of them to play on websites which are licensed and regulated in Norway – and not on websites based outside it.

This is important because it would ensure more Norwegian players are protected by Norwegian laws when they play online and generate greater tax revenues for the state from local gambling activity.

“In today’s digital age it is virtually impossible to enforce national borders on the internet but that’s what the Norwegian authorities are trying to do by introducing payment blockings for online betting.

Rather than being a tool to benefit consumers, such restrictive measures are aimed at protecting the revenues of the state-owned monopoly by cutting off outside competition from reputable EU-licensed operators.

This is not only in breach of the EU’s internal market principles but out of step with the reality of a consumer-driven betting market, where players will inevitably search around the internet for value and choice in the games they play.

This reality is why we’re seeing national gambling monopolies across Europe slowly being replaced by multi-licensing regimes which facilitate better consumer choice and enable better functioning national markets. Norway is one of only two EEA countries which do not have a licensing regime yet – but it is inevitable they will have to confront this decision sooner or later.

The introduction of a multi-licensing regime would be a win-win: it would encourage more effective channelling which would benefit player protection, more effective local control of gambling activity and increased tax revenue for the Norwegian state.” – Maarten Haijer, Secretary General, EGBA.

Continue Reading

Compliance Updates

UKGC fines Platinum Gaming Ltd £1.6m for social responsibility and money laundering failures

George Miller

Published

on

UKGC fines Platinum Gaming Ltd £1.6m for social responsibility and money laundering failures
Reading Time: 1 minute

 

AN online gambling operator will pay £1.6m for failing to identify gambling harm and prevent money laundering.

The Gambling Commission launched an investigation following reports that a convicted fraudster had spent £629,420 of stolen money with Platinum Gaming.

During Commission enquiries it was revealed the customer’s deposits were so high and losses so significant Platinum Gaming should have considered refusing or barring service to the customer. Instead the operator continued to allow the customer to gamble.

Investigations also revealed the operator breached anti-money laundering regulations, including a failure to make adequate enquiries about the source of the funds the customer used to gamble.

As part of a settlement with the Commission, Platinum Gaming returned £629,420 to the fraudster’s victims and will pay £990,200 in lieu of a financial penalty. This money will be spent accelerating delivery of the National Strategy to Reduce Gambling Harms.

Richard Watson, Gambling Commission Executive Director, said: “There were weaknesses in Platinum Gaming’s systems and as a consequence, more than half a million pounds of stolen money flowed through the business. This is not acceptable and I would urge all operators to carefully read this case and learn lessons so they don’t make the same mistakes.”

“This is yet another example of us taking firm action against online operators who fail to protect consumers or implement effective safeguards against money laundering. We must see the industry stepping up and providing consumers in Great Britain with the safest and fairest gambling market in the world.  Where we continue to see failings, we will continue to take action.’

Read Public Statement 

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.