Sweden Shuts Down WiseAvant OÜ over Illegal Skins Betting
Gambling website WiseAvant OÜ has been banned from operating in Sweden for offering games of chance to Swedish customers without the necessary license.
WiseAvant OÜ is the sixth unlicensed operator Spelinspektionen has banned in 2024. (Source: GenOMart, Shutterstock)
LISTEN TO THIS ARTICLE:According to the Swedish Gambling Authority, an investigation revealed that the company offered lottery-style games for skins on its website.
For clarity, skins are virtual cosmetic items in video games that allow players to customize the appearance of their characters, weapons, or equipment. Players can trade skins with each other and sell them outside of the game itself. This has led to skins being used as a form of currency or prize in online gambling, where players can wager skins and receive them as rewards.
Spelinspektionen stated that WiseAvant OÜ offered players the opportunity to win skins by placing bets. However, if the bet were unsuccessful, the customer would lose their money. Since the website does not have a gambling license in Sweden, the regulator deemed the promotion illegal under Swedish gambling laws.
Additionally, the illegal betting games were promoted on multiple social media platforms, most particularly on Twitch, which is a violation of Sweden’s gambling marketing regulations.
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Notably, the action against WiseAvant OÜ makes it the sixth unlicensed operator Spelinspektionen has banned since the start of the year. In January, the regulator restricted True Polygon Entertainment Limited and Smein Hosting NV for operating in its jurisdiction without approval.
In March, three gambling companies were banned for similar breaches. While Newera Frozen PTE Limited and Aprodi Ltd offered video game skin gambling, the third platform, Galaktika NV, allegedly targeted Swedish customers in its online marketing campaign.
In its continued efforts to enforce Sweden’s gambling laws, Spelinspektionen also fined Svenska Spel Sport & Casino for several failures in ensuring player welfare.
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