Latest News

BOS Claims Swedish Banking Institutions Have Suspended Services Provided to Licensed Gambling Operators

Published

5 years ago

April 26, 2021

Reading Time: 3 minutes

Gustaf Hoffstedt, secretary-general of the Swedish trade association Branscheforenigen för Onlinespel (BOS), has claimed that all of the country’s major banking institutions have suspended services they provide to licensed gambling operators.

BOS said that “all major Nordic banks” – including SEB, Swedbank, Nordea, Handelsbanken, DNB Nor and Danske Bank – stopped providing services to Swedish-licensed gambling operators at some point this year.

Claiming this is in violation of Swedish law, Hoffstedt has filed a complaint to the country’s Financial Supervisory Authority (Finansinspektionen).

Most of these banks, Hoffstedt said, cited internal risk assessments or Sweden’s Anti-Money Laundering Act (PTL) as the reasons for account closures. The BOS secretary-general added that “in some cases the banks have not stated any reason at all”.

“As far as I am aware, no concrete justification for the dismissals and banks’ assessment has been provided in any case,” Hoffstedt said.

Hoffstedt added that gambling operators cannot function without banking services.

“Online gambling companies are, as stated above, dependent on basic financial infrastructure in the form of banking and payment services to conduct their business,” he explained. “This requires [them] to be able to store customers’ funds as well as receive deposits and make payments to customers.”

He added that the suspension of services meant that operators could no longer use Bank-ID, used to verify players’ identities. This meant they had lost access to a tool that was vital for fighting fraud and money laundering, Hoffstedt.

“Without access to the Bank-ID system, online gambling companies need to use alternative solutions to identify their customers. These solutions risk being neither as effective for companies nor as safe for users,” he explained.

Swedish Banks also provide the Swish payment service, which Hoffstedt said was also “very important” for operators.

Hoffstedt said that the banks’ decisions had worsened operating conditions for the country’s igaming licensees, as well as counteracting the goals of the Gambling Act.

He went as far as arguing that the actions were illegal.

Hoffstedt said banks have a contractual obligation to continue to provide banking services to these customers, unless there is a clear reason to break this agreement. Only in incidents where continuing to provide banking services would violate the PTL, or if the banking customer had committed misconduct, could agreements be broken, he claimed.

While Hoffstedt noted that banks may terminate agreements if they suspect a customer has connections to money laundering, he pointed out the PTL made clear that these assessments are at the customer level. They can, therefore, not be applied on a sweeping basis to a legal industry.

“Given that a large proportion of BOS members also received notice or notice of termination from the banks – all with general and overarching references to the risk of money laundering in the business – it seems obvious that the basis for the dismissals is a general business policy decision rather than a valid application of PTL,” he said.

“Under these circumstances, there is no possibility for the banks to deviate from their contractual obligation.”

BOS requested a dialogue with the Financial Supervisory Authority and said the regulator “should initiate a supervisory investigation of the banks’ handling and possibly intervene against the banks”.

SEB – one of the banks mentioned by BOS – however, argued it was not systematically ending relationships with gambling operators but rather examined the risk for every client on an individual basis.

“We always make an individual assessment of individual client relationships,“ SEB said. “When it comes to gambling companies, we generally have a cautious approach based on the raised risk level, not least connected to risks relating to money laundering and financial crime.”

Danske Bank, meanwhile, denied it had a policy specifically preventing gambling businesses from operating, but did say these businesses undergo a stricter screening process.

“Danske Bank does not exclude banking services for gambling operations as such,” Danske Bank said. “However, our assessment is that the gambling industry in general is associated with high risk and due to that we have tailored screening principles to ensure that the companies operate responsibly.

“In a case where a specific gambling client does not meet the requirements of our KYC-process or ESG-assessment, the ultimate consequence could be that we limit our offerings or refrain from enter into a business relationship.”

Latest News

Secure Some Sweet Treats With BGaming’s Sugar Merge Up™

Published

32 minutes ago

March 31, 2026

Wladimir P.

secure-some-sweet-treats-with-bgaming’s-sugar-merge-up

BGaming, the popular iGaming content provider, is serving up a sugary treat with the launch of Sugar Merge Up, the latest addition to its #Entertainment slot portfolio.

Players are invited into a candy-coloured world guided by a playful jelly bear mascot. Set on a 6×6 cluster-pay grid, the game is packed with brightly coloured sweets and candy, offering a vibrant and fun-filled experience.

Returning from BGaming’s previous hit, Merge Up, the cascade-style Merge Up mechanic allows winning symbols to merge and upgrade to the next highest-paying symbol, creating opportunities for even bigger wins on subsequent cascades.

Building on the gameplay of Merge Up 2, Sugar Merge Up introduces exciting new ways to form combos. The standout addition is the Bubblegum symbol, which explodes to destroy up to eight surrounding symbols, boosts multipliers in those cells, and then transforms into a Scatter.

Landing Scatters is key to triggering the Free Spins bonus, with up to 30 free spins available. Players can extend the feature by landing three or more Scatters during the bonus round.

For those eager to jump straight into the action, Sugar Merge Up offers six Buy Bonus options, including:

Chance ×2 – doubles the multiplier for ×1.2 the stake
Random Booster – applies random multipliers up to ×128 on each spin for ×10 the bet
Booster ×16 – ensures ×16 multipliers cover the grid on every spin for ×40 the stake
Free Spins Buy Bonus – prices range from ×100 to ×500, giving players flexible access to the bonus round

Julia Alekseeva, CPO at BGaming, commented:
“Sugar Merge Up takes everything players loved about Merge Up 2 and makes it even sweeter. The added bonus features boost engagement, while the multiple Booster and Buy Bonus options give players plenty of flexibility. The candy theme is always a hit, and combining it with the explosive Merge Up mechanic was a natural next step.”

The post Secure Some Sweet Treats With BGaming’s Sugar Merge Up™ appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

FANS World Cup

Kiron Interactive introduces FANS World Cup ahead of the 2026 FIFA World Cup

Published

32 minutes ago

March 31, 2026

Wladimir P.

kiron-interactive-introduces-fans-world-cup-ahead-of-the-2026-fifa-world-cup

Kiron Interactive has unveiled FANS World Cup, a fast-paced football betting product designed to keep players engaged during the 2026 international tournament, particularly in between live matches when traffic typically dips.

Built on Kiron’s Goal Premier Engine, FANS World Cup integrates seamlessly into existing operator deployments with no additional cost or technical requirements.

The game features international teams competing in matches that resolve in just 60 to 90 seconds, giving players frequent opportunities to bet during breaks in the live schedule. By offering standalone mini-matches, the platform helps operators maintain player activity and reduce drop-off between fixtures.

Using familiar national teams ensures players stay connected to the real tournament, keeping the football context consistent rather than losing engagement between matches.

FANS World Cup covers all core betting markets, including full-time result, correct score, goalscorers, and card outcomes. Operators can also configure jackpot features and bonus multipliers to match their preferred risk profiles.

Steven Spartinos, Co-CEO of Kiron Interactive, commented:
“Tournament traffic comes in waves, and the challenge is keeping players engaged in between matches. FANS World Cup addresses that by offering short, exciting match cycles while staying connected to the teams fans are already following. It helps operators maintain steady engagement throughout the full tournament schedule.”

The post Kiron Interactive introduces FANS World Cup ahead of the 2026 FIFA World Cup appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

DEGEN Studios

DEGEN Studios ignites a brutal blood feud with Vendetta Fury

Published

32 minutes ago

March 31, 2026

Wladimir P.

degen-studios-ignites-a-brutal-blood-feud-with-vendetta-fury

DEGEN Studios has launched Vendetta Fury, a high-volatility slot built around the relentless clash between two powerful forces: Vandal and Havoc.

Vandal embodies chaos and disruption, bending the rules of the grid and reshaping its structure. In contrast, Havoc represents controlled destruction, linking symbols through Wild Beams that build intensity before unleashing their full impact.

This ongoing feud fuels the entire gameplay experience, creating a world where revenge is never settled and every spin feels charged with tension. Wins can accumulate gradually before key features ignite, shifting the balance between the two rivals. Expanding Wilds and multiplier mechanics work together to rapidly transform the grid, turning calm moments into explosive payouts.

The action peaks in the Apocalypse bonus mode, where both Vandal and Havoc appear simultaneously. Their combined mechanics drive a shared global multiplier, dramatically increasing volatility and making outcomes far less predictable as their battle for dominance plays out across the reels.

Danny Gordon, Head of Studio at DEGEN Studios, said:
“A vendetta doesn’t fade — it builds until something finally breaks. That idea is at the core of Vendetta Fury. Vandal and Havoc are locked in an escalating conflict that shapes every part of the game, including its three evolving bonus modes, where control constantly shifts between the two sides.”

“In this world, there’s no forgiveness and no restraint — only rising tension and revenge paid in full.”

The post DEGEN Studios ignites a brutal blood feud with Vendetta Fury appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.