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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.”

1spin4win

1spin4win reveals key 2025 performance results, including a 56% surge in GGR

Published

7 hours ago

March 24, 2026

Wladimir P.

1spin4win-reveals-key-2025-performance-results,-including-a-56%-surge-in-ggr

The studio reflects on a successful 2025, marked by major performance milestones, new partnerships, and continued market expansion. Among the year’s key achievements was a 56% increase in GGR compared to 2024.

One of the primary drivers behind this growth was the strengthening of collaboration with clients. Last year, the 1spin4win company reached the milestone of 1,000 global partnerships. The slot provider is now trusted by leading aggregators, including SOFTSWISS Game Aggregator, EveryMatrix, Alea, Digitain, and BetConstruct, among others.

Throughout 2025 and in 2026, the studio’s month-to-month retention rate consistently exceeded 40%, highlighting strong, long-term player loyalty. The main contributor to this figure was the 1spin4win portfolio of over 190 classic online slots, regularly updated with four, sometimes five, monthly releases. In 2025, the provider launched 52 titles, presented 10 branded games for partners, and introduced 12 new mechanics.

Recognized for their well-balanced gameplay and transparent math models, 1spin4win’s classic offering also contributed to a robust 64.24% surge in player count and a 52.06% rise in bet count.

Olga Hlukhovskaya, Business Development Director at 1spin4win, shared, “2025 was an outstanding year for us. Alongside the continued success of our slots, our expansion into both new and existing markets also played a significant role in this growth. While maintaining a strong presence in Europe, we significantly strengthened our position in Latin America and Africa. We’re excited to carry this momentum into 2026 and push our games and partnerships even further.”

About 1spin4win

1spin4win is a trusted game provider founded in May 2021 by ambitious developers with over 15 years of experience in the gambling industry. Since its inception, the company has expanded its portfolio to include over 190 classic online slots, all characterized by quality mathematics, transparent mechanics, and well-balanced gameplay — key factors that drive strong player retention. The studio aims to release an average of four new games each month in 2026 and offers effective promotional tools for casino operators to help them enhance player loyalty.

The post 1spin4win reveals key 2025 performance results, including a 56% surge in GGR appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

1spin4win

1spin4win reveals key 2025 performance results, including a 56% surge in GGR

Published

7 hours ago

March 24, 2026

GamingAmericas.com

Recognized for their well-balanced gameplay and transparent math models, 1spin4win’s classic offering also contributed to a robust 64.24% surge in player count and a 52.06% rise in bet count.

About 1spin4win

The post 1spin4win reveals key 2025 performance results, including a 56% surge in GGR appeared first on Americas iGaming & Sports Betting News.

Conferences

Galaxy Gaming to Participate in Indian Gaming Tradeshow & Convention 2026

Published

7 hours ago

March 24, 2026

GamingAmericas.com

galaxy-gaming-to-participate-in-indian-gaming-tradeshow-&-convention-2026

Galaxy Gaming Inc., the world’s largest independent developer and distributor of casino table games and technology, is going to showcase its latest innovations at the Indian Gaming Tradeshow & Convention (IGA). At booth #2551, Galaxy Gaming will highlight its industry-leading portfolio of table games, progressive systems, and licensed content designed to drive performance on the casino floor.

“We’re looking forward to connecting with tribal operators and demonstrating how Galaxy Gaming continues to evolve table games. From iconic licensed experiences like MONOPOLY to our cutting-edge progressive technology, and proven titles like EZ Baccarat, and Player’s Edge, we’re focused on delivering games that engage players and generate meaningful results for our tribal partners. Our commitment to Deal Excitement is on full display at IGA,” said Matt Reback, President and CEO of Galaxy Gaming.

MONOPOLY Reimagined for the Casino Pit

Through an exclusive licensing agreement with Hasbro for table games and ETGs, Galaxy Gaming has brought one of the most recognizable brands in the world, MONOPOLY, to the casino table game pit in a bold new way. The MONOPOLY-branded table games combine familiar brand elements with innovative mechanics, progressive features, and eye-catching visuals, creating a premium player experience that blends nostalgia with modern gameplay.

Built to attract both core and casual players, the MONOPOLY Table Game Progressive delivers added excitement through engaging bonus events and scalable progressive jackpots, making it a standout attraction on the casino floor. It’s perfectly paired with the brand-new Ride Free MONOPOLY edition, which includes exciting bonus wagers like Free Parking, Get Out of Jail Free, and Ride Free!.

Dealing Excitement with GOS Sapphire

Also featured at IGA is GOS Sapphire, Galaxy Gaming’s next-generation table game operating system. GOS Sapphire powers the industry’s most dynamic table game progressives with advanced jackpot configurations, sleek Nebula sensors, and real-time digital tracking. Its flexible electronic bonusing capabilities—including Dynamic Progressive, which can award random multipliers of up to 10x—add excitement to every round of play.

GOS Sapphire also allows operators to link jackpots across multiple tables and properties, providing scalable solutions that enhance both player engagement and operational efficiency.

The Most Comprehensive Table Games Portfolio

Galaxy Gaming continues to offer the most robust table games library in the industry. From proven favorites like 21+3, Lucky Ladies, and EZ Baccarat, to innovative branded and proprietary titles, Galaxy delivers solutions designed to perform across a wide range of tribal casino environments.

Also on showcase at IGA 2026 is Player’s Edge 21 with the electrifying Monster Match Progressive, which thrills players with frighteningly fun animations and multipliers of up to 10X.

The post Galaxy Gaming to Participate in Indian Gaming Tradeshow & Convention 2026 appeared first on Americas iGaming & Sports Betting News.