Santeda Linked to $2.7 Billion Illegal Gambling Network, According to GAMRS
Summary
GAMRS (Gambling Industry Accreditation, Monitoring & Registration Service) has published a report implicating Curaçao-based Santeda International BV and its brands — Mystake, Cosmobet, Velobet, Goldenbet and Rolletto — as central to a black‑market gambling network generating around GBP 2 billion (approximately $2.7 billion) a year. The report combines operator data and 96 customer testimonies, detailing heavy UK traffic on Mystake and cases of severe player harm despite self‑exclusion attempts.
Key Points
- GAMRS estimates Santeda’s illegal network generates roughly GBP 2 billion annually, with Mystake accounting for about GBP 1.2 billion.
- UK players make up 64.8% of Mystake’s traffic; between August and October 2025 Mystake recorded 3.4 million visits (c.1.1 million/month).
- User engagement on Mystake is high: average session ~22 minutes 27 seconds and ~14.93 pages per visit.
- GAMRS gathered 96 customer testimonies; combined reported losses on Mystake totalled GBP 241,152 from those respondents alone, and at least one case described losses of GBP 49,300 despite Gamstop registration.
- The report argues offshore tax advantages let Santeda reinvest heavily in aggressive marketing and retention, undercutting licensed operators who face rising taxes and tighter regulation.
- GAMRS warns that stricter measures and higher taxation in licenced markets may unintentionally push consumers towards riskier black‑market operators offering bigger incentives and no consumer protections.
Context and Relevance
This matters because it highlights a growing friction between regulatory efforts to reduce gambling harm and the unintended consequence of strengthening unregulated operators. With the UK government considering a significant gambling tax rise in the Autumn Budget, industry bodies like the British Gaming and Betting Council have warned that such moves could make the legal market less competitive and drive players offshore. GAMRS’ findings add weight to that concern by showing concrete traffic, revenue and harm patterns linked to one major offshore operator.
Why should I read this?
Because it cuts through the jargon and shows exactly how taxes, regulation and offshore business models can combine to create a dangerous black market — and real people are getting hurt. If you care about responsible gambling, regulation policy, or the economics of the iGaming sector, this short read tells you where the pressure points are and why regulators need to think twice before simply cranking up taxes or restrictions.