LeoVegas disregards Danish gambling law
Online players usually know the online casino LeoVegas. This gambling provider operates in several countries, which has increased its popularity enormously. After the online casino always had a valid license, the players assume a reputable provider. This opinion could be shaky after the Danish regulator identified violations.
Violation of money laundering, among other things
In the checks, made by theDanish Gaming Authority, accusations of money laundering arose. These are not provisions of the Gambling Act, but the Danish Money Laundering Act. The online provider LeoVegas has enabled its customers to deposit between 160,000 and 220,000 euros. That would still be legal so far, but thegambling company hasn't checked where the money comes from. Such large sums must be checked to rule out that the money comes from criminal sources.
On the negative side, it was noticed that it wasn't just about one customer. The Gaming Authority checked only 20 customer accounts, butseveral violations were found. In a single case, it could still be an accident. Actually, high deposit amounts always have to be checked. This is what the Money Laundering Act provides for. However, such checks were not carried out in all cases. Another violation was found because LeoVegas only reported the incidents after a few months.
Sometimes 22 months have passed until LeoVegas made a report to the state money laundering secretariat. The gambling supervisory authority also sees this as a violation of the duty of care that every online casino has towards its customers.
LeoVegas gets away with a warning
Regulatory authorities usually impose relatively high penalties when an online provider is accused of such violations.LeoVegas received only one reprimand and does not have to expect a penalty. The well-known gambling provider owes this to several facts:
The alleged violations werecommitted in the years 2017 to 2019. Thus, the violations are in the past. However, this fact alone never means that a gambling operator goes unpunished. In the present case, however, LeoVegas was able to clearly demonstrate that the existing problems have already been resolved and that such an incident cannot occur again.
As early as 2020, theprocesses at LeoVegas were changed in such a way that the deposit of such large sums is immediately reported to the money laundering secretariat. The customer accounts are also better checked, so that no strange deposit can be overlooked. All of this not only makes players feel safe. First and foremost, all regulations are complied with that lead to an online casino retaining its license.
LeoVegas present in many European countries
LeoVegas is a company founded in Sweden and is a subsidiary of LeoVegas AB.LeoVegas AB is based in Malta and therefore also has a Maltese license. Thanks to this, LeoVegas was able to operate in many European countries. However, the online casino also has licenses for the relevant countries. LeoVegas is also represented in Kenya, although so far only in Schleswig Holstein.
Other countries have also extended the license for the online casino. This clearly shows that these gambling regulators consider LeoVegas to be reputable and safe. AfterSweden only renewed the license this year it seems that the previous problems have indeed been solved. Thus, players can continue to access the online casino with their smartphone. That was exactly the goal of the company founded in 2011: to become the number one mobile online casino.
LeoVegas has already received numerous awards
Does LeoVegas now have to fear that it will lose some customers due to the investigation? Given that licenses are constantly being renewed, this danger will not exist. Numerous prizes and awards also prove that LeoVegas is a reputable company. The “Online Gaming Operator of the Year”2020. The "Casino Operator of the Year" award has even been given to LeoVegas several times. prize was only awarded in
In total, the gaming company was pleased to receiveeleven awards and prizes. All of this indicates that LeoVegas always cares about compliance with the respective gambling laws and that in Denmark's case it is indeed an oversight. Incidentally, LeoVegas not only offers online casinos with the typical casino games and slots. There are also sports bets in the range. In order to be able to offer this extensive range, LeoVegas works with NetEnt, Yggdrasil, PlayNo Go, Microgaming and Bally, among others.
In order to make sports betting attractive in Kenya as well, the company entered into a cooperation with Lothar Matthäus and Stefan Kretzschmar. Both well-known personalities should bring sports betting closer to athletes and sports betting fans. Apparently, this project also worked.