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BOS Claims Swedish Banking Institutions Have Suspended Services Provided to Licensed Gambling Operators
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.”
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FairPlay’s betting technology and AI-powered predictive content drive deeper fan engagement and deliver media opportunities and revenue
FOX Sports Digital and FairPlay Sports Media, the fan-focused and AI-powered global sports media network, have announced a strategic betting tech, affiliate and sports media agreement.
Under the multi-year agreement, FairPlay will serve as the exclusive sports betting affiliate technology provider of FOX Sports Digital, deploying its market-leading odds components, advanced AI-powered predictive data and analytics, and cutting-edge technology solutions on FOXSports.com and the FOX Sports mobile application.
The new relationship powers the newly released FOX Sports Betting Hub which integrates FairPlay’s innovative sports betting-related content enhanced with bespoke, value-added experiences derived from FairPlay’s deep relationships with global sportsbook operators.
“FOX Sports is one of the largest sports rights holders in the world, with incredible access to live games and global events,” said Stuart Simms, Group CEO of FairPlay Sports Media. “FairPlay is excited to work with the FOX Sports Digital team, and we’re honored to serve their millions of users with more engaging, insightful sports media experiences that have proven to drive loyalty, engagement and deliver on brand differentiation.”
FairPlay’s advanced AI technology and robust odds components are already delivering real-time, data-driven insights to help FOX Sports fans and bettors, while monetization frameworks being deployed create revenue opportunities for operators, sportsbooks and digital media buyers.
The agreement enhances and elevates fan engagement by bringing FairPlay’s betting information technology and AI-powered tools to FOX Sports’ digital platforms. FairPlay’s approach enables FOX Sports digital users and fans to access personalized, data-driven betting analytics that deepen their connection and engagement with sports content. As the sports media and betting landscapes continue to evolve, the FOX Sports and FairPlay agreement delivers pioneering, scalable digital experiences for fans and operators alike.
The post FairPlay Sports Media and FOX Sports Digital Launch New Betting Hub appeared first on Gaming and Gambling Industry Newsroom.
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Betfred Launches Checkd Dev’s Automated Betting System to Strengthen Football Betting Offering
Checkd Dev, part of the award-winning Checkd Group and a leading iGaming technology provider, has signed a multi-year agreement to supply its Automated Betting System (ABS) to UK bookmaker Betfred, introducing new levels of efficiency and engagement to pre-match football accumulator betting.
Through the partnership, Betfred has launched a suite of pre-configured, one-click accumulator bets, powered by Checkd Dev’s ABS technology and seamlessly integrated with Betfred’s proprietary pricing.
The solution enhances the customer betting journey while equipping Betfred’s trading team with a robust backend platform to streamline bet creation, management, and settlement. Customers benefit from football bets that are dynamically assigned probabilities based on historic form, providing greater insight and confidence in their selections.
The launch of ABS reinforces Betfred’s reputation as an industry innovator, offering customers smarter, faster, and more engaging betting experiences.
Checkd Dev has refined its ABS user interface through deployments with multiple tier-one operators. Betfred has further strengthened the proposition by integrating its competitive Acca Flex bonus offer, available from launch. Customers can access additional bonuses if their bet wins, while also benefiting from a money-back guarantee if a single leg loses.
Since its introduction two years ago, Checkd Dev’s ABS has evolved from a statistics-driven tool to increase operator conversion rates into a comprehensive system designed to meet the growing demand for automated, pre-configured betting products, powered by the company’s proprietary BRUNO platform.
This agreement extends Checkd Dev’s recent growth trajectory, following high-profile partnerships with William Hill on a fully automated, stats-powered Bet Builder, and a three-year deal with OpenBet to launch a new Trending BetBuilder to market.
Andrew Grimshaw, Commercial Director at Checkd Dev, commented: “We are delighted to be working with fellow Mancunians Betfred on our Trending Bets product. More and more major bookmakers are recognising the tangible value of our automated betting solutions, and it is especially gratifying to collaborate with a local partner on this launch.”
Mark Hartley, Head of Product at Betfred, added: “Since moving onto our propriety platform, we’ve been able to bring new ideas to market much faster. This partnership with Checkd Dev is a great example, helping us solve a simple problem for football fans: researching and building an accumulator can sometimes feel like hard work!
“With one-click, data-driven selections we’ve made the process quicker and easier, while still giving customers the choice and depth they want. Accas are already one of our most compelling propositions, thanks to our popular promotion Acca Flex, and this launch makes them even more engaging. We’re also looking forward to exploring further opportunities to work with Checkd Dev in the future.”
The post Betfred Launches Checkd Dev’s Automated Betting System to Strengthen Football Betting Offering appeared first on Gaming and Gambling Industry Newsroom.
Legendary Title Reborn for a New Generation of Fortune Seekers with Freebies and Bonuses until December 28th
Slotland Entertainment has ceremoniously relaunched its legendary title, Gods of Egypt, across its casinos Slotland, Winaday and now including CryptoSlots and CryptoWins. This revered 5×4, 30-payline slot invites players into a grand temple of mythic wealth.
Wager $1.50 to $30 to awaken divine features: Ra’s Sticky Expanding Wilds, Bastet’s gem-triggered Free Spins, and a Pick Me Bonus with layered treasures. For those betting $15 or more, five Pharaoh symbols unlock the progressive jackpot.
“Gods of Egypt has always been a crown jewel in our collection,” said Michael Hilary, Manager at Slotland. “This relaunch across our entire empire allows a new generation of players to experience its timeless magic and seek its legendary rewards.”
Framed by the regal visages of Anubis and a jeweled queen, the game creates a ceremonial atmosphere of arcade spectacle. It is a call to modern seekers: enter and claim your ancient riches.
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The post Slotland’s Crown Jewel, Gods of Egypt, Resurrects with Enhanced Features appeared first on Gaming and Gambling Industry Newsroom.
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