IPepper news
  1. Main
  2. /

    News
  3. /

    Legal
  4. /

    Swedish Gaming ...
  5. /...
Swedish Gaming Industry Faces Regulatory Challenges with Unlicensed Payment Providers
Source: Scandification

Swedish Gaming Industry Faces Regulatory Challenges with Unlicensed Payment Providers

In Sweden's licensed gaming sector, a growing concern has emerged over unlicensed payment providers like Finshark, which have been reportedly facilitating transactions between consumers and unlicensed operators. This issue, first raised in September by regulated operators, has now intensified with allegations to Infiniza Ltd, a Malta-based company operating without the Swedish license.

Despite holding a license from the Malta Gaming Authority since 2018, Infiniza Ltd is accused of using the national identity verification system BankID and major Swedish banks for transactions. This operation, involving instant payment provider Krofort, lacks clear licensing information, raising questions about regulatory compliance.

This situation has exacerbated the challenges for licensed operators in Sweden. They argue that unlicensed competitors gain unfair advantages by using fast payment services, a critical expectation among domestic players for quick transactions.

In response, the Swedish Gambling Authority (SGA) has the right to block payments to unlicensed operators. Earlier actions included instructing Zimpler to cease payment solutions for unlicensed entities. However, the industry awaits more definitive actions from the SGA.

LegalSweden

Legal
Dutch players demand bookmakers refund their money

28 September 2024, 15:14

Star Entertainment Group reminded of possible licence revocation

15 September 2024, 11:51

US lawmakers prepare new restrictions for the country's gambling market

13 September 2024, 08:24

China bans 43 people for life for match-fixing

10 September 2024, 15:00

Wynn Las Vegas Agrees to Pay Record Fine

9 September 2024, 15:01

Belgium bans gambling for under 21s

3 September 2024, 09:29

Other news
US reports growing gambling industry revenues for the month
US reports growing gambling industry revenues for the month

The American Gaming Association (AGA) has published its revenue report for July, revealing that the industry generated a record $5.7 billion during this period. Additionally, ...

Prominent Casino Player to Host Show with SportsGrid
Prominent Casino Player to Host Show with SportsGrid

Renowned casino influencer and YouTuber Brian Christopher is collaborating with SportsGrid, the first 24/7 sports betting network in the U.S. that offers a wide range of ...

One of Germany's states has been given the green light for online casinos and poker
One of Germany's states has been given the green light for online casinos and poker

Schleswig-Holstein has become the first German state to grant licences to commercial operators for offering online casino and table games. Tipico, BluBet, Cashpoint, and Skill ...

Articles
Why will the Snaitech deal double Flutter's market share in Italy?
Why will the Snaitech deal double Flutter's market share in Italy?

Analysts have welcomed Flutter's acquisition of Italian B2C business Snaitech for €2.3 billion, which took place in mid-September. Flutter can now double its market share in ...

Hiring Talent from Different Industries: Why and How?
Hiring Talent from Different Industries: Why and How?

At Pepper Partners, a leading iGaming CPA network, the team consists of professionals from various industries. For instance, our Chief Commercial Officer (CCO) joined us from ...

The Social Casino Phenomenon: Real Money and Databases for Bookmakers
The Social Casino Phenomenon: Real Money and Databases for Bookmakers

In the gambling industry, the Free to Play model is not dependent on turning players into gamblers for profitability, according to a columnist for the specialised publication ...

Dividing the Peruvian Pie: Who Will Take Over the Market After the Regulatory Law?
Dividing the Peruvian Pie: Who Will Take Over the Market After the Regulatory Law?

Gonzalo Perez, the CEO of Peruvian powerhouse Apuesta Total, believes that the new regulated online market in Peru will likely see dominance from just three or four major ...

Expert Opinion: Why Betting Can't Survive Without AI Analysis of Sports Data
Expert Opinion: Why Betting Can't Survive Without AI Analysis of Sports Data

In his opinion column, IGB expert Tom Waterhouse explores the significance of sports data analytics and data providers within the evolving landscape of sports betting. He ...

Categories