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B90 Holdings, its offshore Spinbookie Casino and Gambling Platform, and Other Connections!

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In our series on offshore online casinos and gambling operators, this time we took a look at Spinbookie, which is operated by the B90 Holdings Group via the offshore entity Famagousta B.V. with an offshore license from the Kahnawake Gaming Commission. Spinbookie also addresses players in the EU and other jurisdictions in which Famagousta does not have a regulatory license. We have added Spinbookie to our Red Compliance List.

Spinbookie Key Data

Trading nameSpinbookie
Business activityOnline casino, gambling,
sports betting
Domainshttps://spinbookie.io
https://spinbookie.com
Legal entitiesFamagousta B.V. (Curacao)
Fodenmacko Trading Co Limited (Cyprus)
B90 Holdings PLC
JurisdictionCuracao, Cyprus
AuthorizationOffshore license Kahnawake Gaming Commission
Payment optionsCredit/debit card, e-wallets,
pre-paid cards, crypto
Payment processorsCashlib, MiFinity, NummusPay
Dropayment, Jeton, Rapid,
Neteller, Noda,
Paysafe Card, Skrill
Payment agentFodenmacko Trading Co Limited
Related individualsRonnie Breivik
Compliance ratingRed

Short Spinbookie Narrative

Spinbookie, operated by Famagousta B.V., a Curacao-based company, and its Cyprus-based payment agent, Fodenmacko Trading Co Limited, is one of thousands of Curacao-licensed online casinos, sportsbooks, lotteries, and gambling ventures. Famagousta holds an offshore license issued by the Kahnawake Gaming Commission (License Number: 00939 / issued 5 April 2023).

Although Famagousta holds two offshore licenses, these do not automatically entitle the company to offer its games of chance and online casinos in Europe. Most EU countries, including Germany, Norway, Italy, Austria, Denmark, The Netherlands, and Spain, have their own national regulations and licensing systems for online gambling, and they require operators to obtain a local license or comply with specific rules and standards.

A Similarweb analysis shows that most players on the Spinbookie website come from South America. However, players from North America and EU countries are also among the top 10 countries of origin of website visitors.

Spinbookie addresses players in the EU and other regulatory regimes for which the operator Famagousta does not have a regulatory license. These regulatory violations are a red flag.

The Payment Scheme

Many illegal or unauthorized schemes involved in online gambling or trading are increasingly adopting cryptocurrencies to receive deposits from their customers. Spinbookie also accepts unlimited crypto deposits from customers – even without prior KYC/AML verification. This is another red flag.

Like many other operators of offshore casinos, Famagousta has also installed a payment agent in Cyprus and thus the money is also used for (largely illegal) activities in the middle of the EU.

We could have deposited unlimited Bitcoins, Ether, and other cryptocurrencies without a KYC/AML check. These pre-KYC deposits were even possible before the email address was confirmed.

The B90 Holdings Connection

Spinbookie is part of the B90 Holdings Group (formerly Veltyco Group), a company listed in the AIM segment of the London Stock Exchange, founded in 2016 by Uwe Lenhoff and Dirk-Jan Bakker. Lenhoff was arrested in 2019 for alleged investment fraud via the online platforms affiliated with Veltyco. He died in prison in Germany in July 2020. Cause of death unknown.

In recent years, online gaming veteran Ronny Breivik has steered the fortunes of B90 Holdings. In 2023, Sportingbet founder Mark Blandford has become a strategic advisor and investor in B90 Holdings. His Winforton Investments Ltd is the company’s largest shareholder.

Share Information

If you have any information about Spinbookie, Famagousta, B90 Holdings its operators, and its facilitators, please share it with us through our whistleblower system, Whistle42.

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