PICKS 11 TIPSTERS 702 BOOKMAKERS 42 BONUSES 24 Join as tipster / Rules PREMIUM PICKS VERIFIED SERVICES FORUM
Forgotten password Close [x]
BETRUSH HOME PREMIUM PICKS VERIFIED SERVICES BETTING FORUM

Videoslots online casino wins legal battle against Swedish Gambling Authority

13-12-2019

Videoslots, the UK-based online casino operator secures a longer license period in Sweden, following their appeal against the decision made by the Swedish Gaming Authority to limit their licence period to two years, online.casino reports.

Videoslots operating licence was extended to the 31st of December, 2023.

The two-year term was based on settlement between Videoslots and the UKGC

The Swedish Gambling Authority (SGA/Spelinspektionen) made the decision to grant Videoslots with only a two-year term gaming license, due to the previous settlement between the operator and the UK Gambling Commission over flaws in the due diligence process and in particular the source of funds process.

The flaws exposed by the UKGC in November 2018 showed insufficient source of funds checks by the operator on UK players with high deposit amounts.

It also found players was able to register and play using fake IDs.

Instead of getting a financial penalty by the Gambling Commission (which could have been much bigger) Videoslots agreed to settle and pay £1 million for the failings, and £12,000 for the Gambling Commission’s costs.

The SGA decided this was enough to limit the operators license term.

Videoslots, however, argued the UKGC found the operator had addressed the flaws found by taking proactive and timely measures, as well as being fully transparent and open during the whole investigating.

“This makes it obvious that the company is a serious business that makes an effort to follow the regulations to which it is subject,” Videoslots appealed.

“The British supervisory case, therefore, cannot be considered a reason to deviate from the normal, five-year licence period.”

Videoslots also argued other casinos that had settled with the UK regulator in the past had been granted five-year licenses. Furthermore, Svenska Spel, the operator owned by the Swedish state, was granted a license without any time limits even though they were fined by the SGA as recently as November 2018 for failings in their AML (anti-money laundering) processes.

The Swedish brick-and-mortar casinos “Casino Cosmopol” was then fined a total of SEK 8 million, but only ended up paying SEK 3 million after the penalty was reduced on appeal back in October.

The court agreed the violations were serious, which could be grounds for closer oversight by the SGA of the casino operator.

However, Thomas Kjellgren, the Swedish Alderman, acknowledged the operator had been truly transparent and open in the UKGC investigation and taken important measures to address the flaws in their systems. He meant the decision by the SGA was unjustified and not in proportion of the offence.

The Alderman ruled that Videoslots license will be extended and run from the 1st of January 2019 to the 31st of December 2023.

The SGA announced that they don’t have any intention of appealing the decision made by the Linnköping Administrative Court.




BOOKMAKERS SEE ALL
bet365 1xbet Rivalo WWin VOdds Betsafe Bonkers Tornadobet Optibet LV Bet Tipbet Marathonbet

Free picks & PRO betting blog, reviews, advanced individual stats, contests, surebet tools. BIG forum of tipsters
Check BETBLOG.com
Betting Predictions
Free Betting Predictions from tipsters with verified statistics. Tipster Competitions with money prizes every month
Join the Bettors.Club
PREMIUM PICKS
Get more and win more!
Betrush Premium features some of our best tipsters and has delivered over 15,000 picks and steady profits since the start in 2011. We care about serious betting - no makeup, odds are advised exclusively with Pinnacle and the Asian market. Subscriptions are affordable for everyone, starting from just €9.90 per week and cover all picks and tipsters on the BP site
TIPSTERYIELDPICKS
alexis1016+12%624
Yippee+11%362
The_Tabak+9%301
mguille+9%107
bfischer+7%1690
Damir+6%206
cristiandinu+5%931
abdulalhazred+5%632
Adan+3%364
RedBacon+3%1376
IN FOCUS
A Brief Outline of Common Football Betting Terms For The..., 06-04
What Makes a Good Slot App?, 06-04
VN88 - The Trusted Online Casino In Vietnam, 03-04
Why Online Gambling is the Safer Option These Days, 01-04
Gambling Professionally What You Need to Know as a..., 01-04
Canceled Sports: What to Bet on Now that Major Sports..., 01-04
Canceled Sports Events: Sportsbooks Gets Creative with..., 01-04
Land-Based Casinos Suffering due to the Quarantine Measures, 25-03
Online Casinos and Sportsbooks asked to impose a betting..., 24-03
Online Betting 101: Understanding Sportsbook Rules and..., 23-03
Biggest Advantages of Online Betting, 20-03
How Will Covid-19 Virus Affect Online Bookmakers?, 19-03
Top Poker Players over the Last 3 Years, 18-03
Earn Consistent Income With Expert Soccer Picks, 13-03
The Do`s And Dont`s When Competing On The Sports Betting..., 12-03
5 Champion Hurdle Contenders for the 2020 Cheltenham..., 09-03
Five Football Games to Bet in March 2020, 07-03
Overview of Wazobet Sports Betting and Casino Platform, 06-03
Should we trust tipsters?, 03-03
Betfair Sets the Odds for Trump’s Re-Election, 27-02
See more +