Sweden’s gambling authority, Spelinspektionen, has banned WiseAvant OÜ from operating in the local market with immediate effect.
The move comes following an investigation which revealed that the company had offered lottery-style games for skins on its website. The skins were from multiple video games and can be sold outside of the games they are part of.
According to the regulator’s announcement, the website offered customers the chance to win skins by placing bets. If the bet is a losing bet, the customer would lose their money. As the company has no license to offer games of chance or gambling products in Sweden, the regulator found it to be in breach of local gambling laws.
The betting games in question were also marketed on various social media platforms including Twitch. This was another breach of local gambling regulations with regards to marketing.
No further details of the decision or any potential penalties for failure to comply were listed in the public announcement.
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Sweden Bans WiseAvant for Illegal Skins Betting Services
In a recent development, the Swedish government has banned WiseAvant, a popular online gambling platform, for offering illegal skins betting services. Skins betting is a form of gambling where players use virtual items, known as skins, as currency to place bets on various games and events.
The decision to ban WiseAvant comes after an investigation by the Swedish Gambling Authority revealed that the platform was operating without the necessary licenses and permits required to offer skins betting services in the country. This is a violation of Sweden’s strict gambling laws, which aim to protect consumers from unregulated and potentially harmful gambling activities.
Skins betting has become increasingly popular in recent years, especially among young people who are drawn to the excitement and thrill of winning virtual items. However, it has also been criticized for its lack of regulation and potential for exploitation by unscrupulous operators.
The ban on WiseAvant is a clear message from the Swedish government that illegal gambling activities will not be tolerated in the country. It serves as a warning to other online gambling platforms that they must adhere to the law and obtain the necessary licenses if they wish to operate in Sweden.
In light of this development, it is important for consumers to be vigilant when engaging in online gambling activities and to ensure that they are using licensed and regulated platforms. By doing so, they can protect themselves from potential scams and frauds and enjoy a safe and responsible gambling experience.
