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Wednesday, 11 December 2019

Videoslots Granted Five-Year Swedish License Following Appeal

Videoslots Loss Requirements

Videoslots has been granted a five-year Swedish gambling license.

Hugely popular online casino Videoslots, which we praised for its huge collection of games and bonuses, has been granted a five-year Swedish gambling license after appealing the Swedish Gaming Authority’s (Spelinspektionen) decision to only grant them a two-year license last December. The appeal has been successful, extending Videoslots’ license for another three years, Intergameonline reports.

The decision was overturned by the Administrative Court in Linkoping after it was revealed that Videoslots was only given a two-year license due to receiving penalties from the UK Gambling Commission back in November 2018 over weaknesses related to its anti-money laundering and social responsibilities.

The extension means Videoslots can continue operating in Sweden through to 2023. However, this means that the online casino will have to reach an agreement with Spelinspektionen to again extend its gambling license or re-apply for its Swedish gambling license after its expiration.

Speaking about the appeal, Videoslots CEO Alexander Stevendahl said: “Videoslots is firmly committed to keeping gambling both safe and fun and this has been recognised with the full five-year period of our Swedish license. Player safety across all our markets is always our priority and this news is very welcome due to the growth we are seeing in the Swedish market.”

Videoslots: What’s To Come In 2020

The news comes weeks after Videoslots announced a partnership with Betradar to launch a brand new sportsbook in 2020. According to Videoslots, the online casino will use Betradar’s Trading Solutions to implement a sportsbook as part of a move to diversify its gambling content.

However, not much else is known about Videoslots’ upcoming sportsbook. It’s unknown how many games and events the site will allow customers to wager on, or when the service will actually launch. However, Videoslots did confirm that it hopes to launch the platform at the “beginning” of 2020.

The firm has also made headlines after making loss limit requirements mandatory which requires customers to enter a maximum loss limit to keep their spending in check. The site also introduced a groundbreaking mobile split-screen feature which allows customers to play two slots simultaneously, or play one slot while claiming promotions, browsing the game catalogue or depositing money.

Meanwhile, Videoslots has been striking content agreements with numerous casino providers such as High 5 Games, Green Jade Games, and Red Tiger Gaming. The partnerships have helped enhance Videoslots’ catalogue of games while also expanding the player reach for each of the operators.

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