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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.”

Champions Club

Setanta Bet Joins GR8_TECH’s Champions Club with GREAT_SPORTSBOOK iFrame

Published

27 minutes ago

July 14, 2026

Wladimir P.

setanta-bet-joins-gr8-tech’s-champions-club-with-great-sportsbook-iframe

GR8_TECH has partnered with Setanta Bet, a locally licensed online betting operator in Georgia and part of the wider Setanta Sports ecosystem. The collaboration marks another important step in GR8_TECH’s expansion across regulated markets, with Setanta Bet successfully launching the GREAT_SPORTSBOOK iFrame solution.

By joining the Champions Club—GR8_TECH’s exclusive network of ambitious operators powered by high-performance technology—Setanta Bet gains access to a sportsbook solution designed to accelerate growth, enhance player engagement, and maximize operational efficiency.

“We are delighted to welcome Setanta Bet as a partner of GR8_TECH and a proud addition to our Champions Club,” said Vardan Hakobyan, Head of Sales at GR8_TECH. “The brand has successfully created a strong connection between sports content, player engagement, and entertainment. With GREAT_SPORTSBOOK iFrame, Setanta Bet can further enhance its betting offering while preserving its unique brand identity and delivering a richer, more engaging experience for its players.”

“Setanta Bet was launched on the foundation of the region’s largest and most successful sports media, representing the most vital part of Setanta as a major brand,” said Tamar Badashvili, CEO at Setanta Bet. “It is the ideal synergy between sports media and the betting business, a model already successfully proven by leading global brands. We launched our sportsbook in partnership with GR8_TECH because their regional experience, along with their platform’s features and functionality, perfectly matched our requirements. We believe this collaboration will be mutually beneficial; not only will Setanta Bet succeed, but our vast operational experience in the industry will provide valuable feedback to help further develop the GR8_TECH platform.”

GREAT_SPORTSBOOK iFrame provides Setanta Bet with a scalable, high-performance sportsbook solution designed for rapid deployment and local-market adaptability. The solution delivers more than 180,000 monthly events across 50+ sports and esports disciplines, supported by 24/7 live betting coverage, AI-powered recommendations, embedded CRM capabilities, and extensive customization options.

The solution also includes a comprehensive suite of engagement and revenue optimization tools, including cashout, multi-bets, odds personalization, margin personalization, geo-targeted content, customizable widgets, and a fully mobile-first experience designed to meet the expectations of modern players.

Get in touch with GR8_TECH to learn how the GREAT_SPORTSBOOK iFrame can help launch, upgrade, or scale your iGaming business.

GR8_TECH. Platform for Champions

GR8_TECH is an award-winning provider, delivering high-performance sportsbook and iGaming solutions that empower operators to lead and win in competitive markets. GR8_TECH’s comprehensive portfolio includes the GREAT_TURNKEY and GREAT_CRYPTO TURNKEY solutions, GREAT_SPORTSBOOK, and GREAT_CASINO AGGREGATION.

With a geo-specific approach to solutions, a focus on practical innovations, and an operator-first mindset, GR8_TECH helps its clients achieve measurable results in their target markets quickly and efficiently. Trusted by top operators worldwide, GR8_TECH has over 100 successful cases and earned multiple recognitions, including the title of Platform Provider of the Year by SBC Awards 2025.

The post Setanta Bet Joins GR8_TECH’s Champions Club with GREAT_SPORTSBOOK iFrame appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Awards

NuxGame Wins Casino Platform of the Year at the iGaming News Awards

Published

27 minutes ago

July 14, 2026

Wladimir P.

nuxgame-wins-casino-platform-of-the-year-at-the-igaming-news-awards

NuxGame has been named Casino Platform of the Year at the inaugural iGaming News Awards, the first edition of the awards programme run by industry publication iGaming News.

The Casino Platform of the Year category recognises the platform technology operators use to build and run their casino businesses — the core system behind day-to-day operation rather than any single feature or campaign. It is a meaningful marker for a B2B provider since it points to the technology operators actually rely on. Winning the category in the programme’s first year adds another point of industry acknowledgement for the NuxGame online casino software.

The award caps a strong year for the platform, one shaped by steady work on the product itself. NuxGame added new player-engagement tools such as Achievements, Spin Wheel, and Rakeback, expanded its game aggregator with thousands more titles, and opened up new markets by launching its Sweepstakes and Telegram products and gaining a Class II B2B licence in Romania.

The category win follows other recent recognition for the platform, such as Best Platform Provider at the 2025 SiGMA Eurasia Awards and Best Innovation in iGaming Technology at the 2025 European iGaming Excellence Awards. Together they create a steady awards record for the technology behind the company’s casino offering rather than for a single product or campaign.

“A casino platform is the part of the business an operator depends on every day, so this is the recognition that means the most to us,” said Daniel Heywood, CEO at NuxGame. “We’ve spent years keeping the platform stable, straightforward to scale, and simple to run day to day. And we work just as hard on the support quality behind it. Seeing that commitment recognised by the iGaming News Awards is a proud moment for the whole team.”

NuxGame says its direction for 2026 is to keep the platform dependable and easy to run. The company will also keep expanding the ecosystem around the platform so operators can add proven, pre-integrated partners as they scale rather than vetting and connecting each one on their own. The company reads the win as confirmation that the fundamentals it has invested in remain important for operators — and as a reason to keep strengthening them.

About NuxGame

NuxGame is a B2B iGaming software platform provider that has been helping online casino and sportsbook operators launch and grow their projects for more than 7 years. Founded in 2018, the company now supports more than 100 operators worldwide. What began as a platform provider only has developed into a unified ecosystem. Alongside its own flexible casino platform, turnkey casino and sportsbook solutions, sweepstakes-ready infrastructure, game aggregation and API integrations, NuxGame connects operators to a vetted network of proven partners, spanning CRM, payments, orchestration, aggregation, and traffic. All of it is backed by 24/7 support.

The post NuxGame Wins Casino Platform of the Year at the iGaming News Awards appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.