Sweden’s gambling authority Spelinspektionen has fined Videoslots after considering the online casino operator to be guilty of various AML failures.
The regulator suggests that the online casino operator had deployed “insufficient” customer awareness measures, leading to several deficiencies when it comes to document and information preservation.
Initial orders entailed that Videoslots must pay a fine of SEK 9m (£649k) in damages, but based on a subsequent review which constituted that the violations were not systematic, the fine was brought down to SEK 4m (£288k).
Videoslots has been a license holder since 2018, operating under the Swedish Gambling Act as a supplier of commercial online gambling.
After uncovering the violations, Spelinspektionen proceeded with the production of a penalty fee in accordance with Swedish law. In the regulator’s words, due to the difficulty of calculating how much Videoslots had profited off the back of the infringement, the sanction could have not exceeded SEK 11.8m, or one million Euros.
Therefore, the estimate was based on the company’s total net turnover for the year prior to when the violations occurred, which was around SEK 401m.
Taking this financial position into account, the penalty fee was initially set at SEK 9m, but as it was previously noted, this sum was later brought down to SEK 4m as the regulator constituted that the AML breach was not a systematic occurrence.
Soft2Bet has enhanced its MEGA gamification product with the launch of a Christmas-themed seasonal engine.
Players can take on the role of Santa Claus in skill-based gameplay that offers personalised rewards and boosted engagement during the festive season. They guide Father Christmas through a snow-filled slope, with rewards increasing in value the more the player progresses.
The Christmas engine is designed with the goal of driving engagement, offering daily free attempts that encourage activity and increased session time. Deposit incentives keep the momentum, with bonuses tied to key deposit milestones.
Furthermore, the casino and sports rewards can be easily integrated into a range of brands. The gameplay dynamic is also updated daily with new maps and challenges, increasing the replayability of the offering.
Yoel Zuckerberg, CPO at Soft2Bet, commented: “The Seasonal Christmas engine is another milestone in our mission to deliver gamification tools that engage players and support operators in achieving their growth targets.
“By building on the success of our previous MEGA engines, we’ve created a product that not only brings festive fun to players but also delivers tangible results for our partners.”
Zuckerberg stopped for a quick chat with SBC at SBC Summit Lisbon, where he touched upon the importance of personalisation when developing a product that aims to captivate the audience.
The product in the spotlight then was Soft2Bet’s Bonus Dice gamification engine launched back in August.
He added: “We created Bonus Dice to increase the retention of players. We can see from our brands that our customers are striving for gamification and to increase the player lifetime value so we created these mechanics for our B2C and B2B partners.
“Additional mechanics are on our roadmap and I think it’s very important to mention that the future of these kinds of gamification products would likely have the customers playing against each other, peer-to-peer. That’s the next generation of gamification and something that Soft2Bet is building.”
