In a routine investigation the SGA found that Videoslots had allowed its players to circumvent the cap by not factoring in reverse withdrawals (withdrawals that a player cancels). This created a loophole that then allowed players to deposit sums well in excess of the mandatory deposit cap.
Videoslots Fined by Swedish Gaming Authority for Deposit Cap Violation Videoslots Fined by Swedish Gaming Authority for Deposit Cap Violation Videoslots Fined by Swedish Gaming Authority for Deposit Cap ViolationVideoslots has argued that the new restrictions contravene EU laws on fair trading but the SGA has refuted those claims. The SGA has since stated that the freedom to offer services within the EU does not mean that those services cannot be restricted by the government. This is especially true with regards to restrictions that protect the public.
While some expected the iGaming provider to be hit with a warning, the SGA felt that the infraction was more than a mere oversight and therefore warranted a penalty.
Videoslots Fined by Swedish Gaming Authority for Deposit Cap Violation after discovering loopholes that also allowed their players to circumvent the deposit cap. Both were fined SEK 1m for every week that the loophole remained in place. Videoslots Fined by Swedish Gaming Authority for Deposit Cap Violation, the deposit cap is likely to stay in effect until July of 2021.
Gambling industry journalist with a background in online poker and trading. Covering the regulated U.S Sports industry and the exciting world of online poker.