Santeda Linked to $2.7 Billion Illegal Gambling Network, According to GAMRS
A GAMRS report links Santeda International BV to a $2.7 billion illegal gambling network, fueled by aggressive marketing and minimal taxation.Summary
A report by the Gambling Industry Accreditation, Monitoring & Registration Service (GAMRS) alleges that Curaçao-based Santeda International BV, operating brands like Mystake, Cosmobet, and Rolletto, is central to an illegal gambling network generating over $2.7 billion annually. The report, co-authored by DealMeOut CEO Jordan Lea, is based on testimonies from 96 customers who collectively lost over $322,500 on the Mystake platform alone, which has an estimated annual turnover of $1.6 billion. GAMRS attributes the network’s success to minimal taxation in offshore jurisdictions, allowing for aggressive marketing strategies, and suggests that increasingly restrictive regulations in licensed markets are inadvertently driving consumers to these illegal operators. One individual shared a harrowing experience of losing over $66,000 despite being registered with Gamstop, highlighting the lack of concern for problem gamblers shown by these platforms. GAMRS warns that further pressure on the licensed sector will only accelerate the migration to the black market, emphasizing the need for regulators to reconsider current policies.
(Source：Gamblingnews)