Videoslots penalised by SGA for deposit cap breach

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Videoslots penalised by SGA for deposit cap breach

The Swedish Gambling Authority (SGA) has enforced an injunction on Videoslots after the online casino was judged to have violated Sweden’s deposit cap.

The SGA found that Videoslots was non-compliant with the SEK 5,000 ($601) weekly deposit limit for online casino and slots, which was introduced in July in response to the coronavirus pandemic.

The investigation showed that players at the online casino were able to deposit more than the permitted amount if they cancelled up to two-month’s worth of withdrawals.

While the gaming authority found that Videoslots had complied with bonus limits and did require players to set a deposit limit at login, it was also found guilty because withdrawal reverasls allowed players to deposit more than the weekly limit.

The SGA said Videoslots failed to adhere “when it comes to the way in which Videoslots has chosen to let the players be able to cancel a withdrawal from their gaming account in relation to the provisions of deposit limit for commercial online gambling.

“With Videoslots’ interpretation of the provision, it would be sufficient for a licensee to tell players you have a deposit limit of SEK 5,000 per week for commercial online gaming, no matter how much money can be deposited in practice, and in different ways, and be used for games on commercial online games. The Gaming Inspectorate does not share this assessment.”

As a result the SGA has ordered the operator to “end the violation” so players are unable to deposit more than the SEK 5,000 weekly amount. The SGA said in addition to the injunction to remove reverse withdrawals, Videoslots will be fined SEK 250,000 for each week until the change is implemented, which is calculated at three weeks from when Videoslots was notified about the decision.

In a statement sent to Gambling Insider, Videoslots noted the decision but remained defiant overall: «Videoslots notes the decision made by the Swedish regulator and is pleased it confirms compliant implementation of the bonus, deposit and time limits put in place by the Swedish government to counter a perceived increase of risks during the COVID-19 pandemic. 

“According to the decision, these regulations also prohibit the withdrawal-related functionality which remained in question. We will comply and remove this functionality, having already offered to do so during the assessment.

“We do not, however, believe that we were in breach of the COVID-19, or any other regulations, and call for greater clarity to aid responsible operators like ourselves. Furthermore, we maintain our position that these regulations are both unreasonable and unjustifiable.

“Not only are they contradicted by facts and damaging to licensed operators, they are also completely counterproductive to their declared aim of player protection and push players into the arms of illegal operators. We will therefore continue to challenge these regulations.”

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