Compliance Updates
Swifty Global (Dear Cashmere Holding Company), Confirms the Award of its UK Gambling License
Dear Cashmere Holding Company, known as Swifty Global (Swifty), is a technology company focused on creating ground-breaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Following its award of the Curacao license in November 2021, Swifty is now pleased to announce that it has successfully obtained its UK gambling license. The coveted UK license is the “Gold Standard” and one of the most difficult gambling licenses in the world to obtain. Its award now allows Swifty to upload its eagerly anticipated Swifty Predictions application to the UK Apple and Android stores, allowing users in the UK to download the app and register their account. In addition, Swifty has completed their 3rdparty security audit and is now adding the relevant payment providers. This couldn’t take place until the UK license was approved. Once the payment gateway is live, the software will be submitted for certification which, once obtained, will be made available in the licensed regions. Swifty’s in-house development team are working overtime to ensure that the product goes live as quickly as possible. The commercial team is simultaneously working on obtaining several further gambling licences, including for certain states in the USA.
To grow its user base in the licensed regions, Swifty is preparing to roll out its aggressive marketing plan, with the initial focus being to capture as many users as quickly as possible. From this point, the highly interactive Swifty predictions app brings a new form of engaged betting to users which Swifty is confident will stimulate a substantial amount of viral marketing.
After the successful “soft launch” of its Digital Wallet during the month of March, where several thousand users downloaded and used Swifty’s pre-configured digital currency wallet, the official launch of both the Swifty Wallet and Swifty Predictions app will take place in May. The official launch functions are expected to encompass several celebrity endorsements.
The Swifty Wallet will offer a referral scheme within the wallet itself. This will allow users to refer the app to other users, thereby earning credits which will be cashed in against the Swifty Token. The Swifty Token is scheduled to be launched once Swifty’s user base has reached a critical mass. The company anticipates this being in Autumn 2022. Referral vouchers will also double up to enter referrers into weekly prize draws.
Swifty will aggressively target the UK market to rapidly gain a lucrative share of the existing market whilst also creating a new category of gambling with its proprietary “swipe” technology for micro betting. This will create a new market of users who enjoy a more social, fun, and engaging form of gambling. According to the UK Gambling Commissioner, the UK’s online sports betting and casino gambling market was worth 6.9 billion pounds between March 2020 and April 2021. This was up 18.4% from the previous year. Despite the size of the UK market, there are only 287 companies that have a remote betting operating license and 469 companies that have a gambling software development license in the UK.
Swifty Global CEO, James Gibbons, commented, “We are ecstatic to have finally obtained this license following months of processes to demonstrate our compliance. We were always confident of obtaining the license since, in addition to our compliance, our technology, AML, and KYC capability is both next generation and world leading. However, it is a process that we had to go through, and we are very pleased to now finally be in the game within one of the world’s most active and lucrative gambling markets. We are excited to launch the Swifty Predictions app, especially since it’s within a few weeks of the successful launch of our Swifty Wallet. I am extremely proud of what we have accomplished and incredibly optimistic about our next quarter of business and beyond.”
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Australia
SkyCity Announces Renewal of Queenstown Casino Licence
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SkyCity Entertainment Group Limited confirmed that the New Zealand Gambling Commission has granted SkyCity Queenstown Limited with a renewal of its casino venue licence for a further 15 years from 7 December 2025, pursuant to section 134 of the Gambling Act 2003.
SkyCity Chief Executive Officer, Jason Walbridge, said: “We’re delighted with this outcome. We look forward to continuing to play our part in Queenstown’s fantastic range of entertainment for both locals and visitors.”
The post SkyCity Announces Renewal of Queenstown Casino Licence appeared first on European Gaming Industry News.
Betsson Group
Betsson Group Shortlisted at the Global Regulatory Awards 2025
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Betsson Group has been shortlisted for “Legal Team of the Year” at the upcoming Global Regulatory Awards 2025 (GRAs), while its General Counsel, Corinne Valletta, has been nominated for “Chief Compliance Officer of the Year.”
Organised by Vixio Regulatory Intelligence, the Global Regulatory Awards celebrate excellence across the compliance and responsible gambling sectors, recognising individuals and teams who continuously raise industry standards and champion best practices.
These accolades testify to Betsson’s commitment to raising standards in compliance to ensure a safe and stable business.
The post Betsson Group Shortlisted at the Global Regulatory Awards 2025 appeared first on European Gaming Industry News.
Andrew Rhodes
UK Gambling Commission Concludes Four-part Series on Illegal Online Gambling
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The UK Gambling Commission has published the fourth and final report in its series exploring the complex and evolving issue of illegal online gambling.
The series — launched earlier this year — set out to improve understanding of consumer engagement with illegal online gambling, the risks it poses and the actions being taken to disrupt it.
Over the past months, the Commission has published three reports examining:
Part 1: Consumer awareness, drivers and motivations
Part 2: Consumer engagement and trends
Part 3: Disruption of illegal online gambling
This report — “Estimating the size of the illegal online gambling market” — explores the challenges of quantifying an activity that is, by its nature, hidden.
Understanding the challenge
The report highlights that while measuring the scale of the illegal online gambling market is essential for effective enforcement and policy-making, doing so presents significant methodological challenges. Reliable data is limited, and assumptions are often required to fill gaps — meaning that confidence in any single estimate is inherently constrained.
The Commission draws parallels with other areas of illicit activity, such as the trade in illegal tobacco, where government departments face similar difficulties estimating financial impact.
Building on progress
Although no single estimate of market size has been published, the Commission’s work to date has built a stronger evidence base and clearer understanding of both consumer behaviour and illegal operator tactics.
The series has found that:
• consumer motivations to use illegal sites are varied — there is no single driver of engagement
• some consumers are unaware that they are gambling illegally, highlighting the need for greater public awareness
• not all activity in the illegal market represents a direct loss to the regulated sector, as some consumers are self-excluded or otherwise unable to gamble legally
• there is currently no evidence of sustained growth in engagement with illegal websites where data has been collected
• a range of disruption and enforcement tactics are being deployed, supported by cross-industry and international collaboration.
A shared responsibility
The Commission emphasises that tackling illegal gambling requires a coordinated response. Efforts to measure, monitor and disrupt the illegal market will depend on continued collaboration across government, industry, digital platforms and financial services.
Chief Executive, Andrew Rhodes said: “Illegal online gambling remains a serious threat to consumers and to the integrity of the regulated market.
“While measuring the full scale of the problem is complex, our understanding is growing — and so too is our ability to disrupt illegal operators.
“Our independent research has strengthened the evidence base, improved transparency, and underlined that progress depends on a collective effort across sectors.”
Next steps
Although this marks the end of the current series, the Commission will continue its programme of research, data collection and enforcement activity.
The post UK Gambling Commission Concludes Four-part Series on Illegal Online Gambling appeared first on European Gaming Industry News.
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