Videoslots fined by SGA for deposit cap breach

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Videoslots fined by SGA for deposit cap breach

The Swedish Gambling Authority (SGA) has enforced an injunction and imposed a weekly fine on Videoslots after the online casino 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.

Videoslots mentioned how it introduced mandatory deposit limits for its players but chose not to answer questions based on reverse withdrawals as it believed the function had “nothing to do with the requirements on deposit limits” and that it existed due to player requests.

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 guilty because the reverse withdrawals allowed players to deposit more than the weekly limit.

The SGA said the 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 state for the players that 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 it the 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.

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