Tag: Usoftgaming

It is currently common for online casino, sports betting and gambling operators equipped with an e-gaming license in Curacao to have a payment subsidiary in Cyprus. This also has the advantage of having a location in the EU. The operator of Bet Swagger, Usoftgaming N.V., has also chosen this structure and processes the payments of its customers via the Cyprus-registered Pulsion Processing Ltd. We have heard massive complaints from several customers of this scheme. Therefore, we issue a warning.

Cyprus is certainly the hotspot in Europe for high-risk payment processors and PayTechs working for financial service providers and online casino operators. Many unlicensed and Curacao-licensec Online casinos use companies registered in Cyprus as their payment processors. It is therefore consistent to conclude that a significant portion of the revenues of unlicensed or offshore-licensed online casinos ends up in Cyprus. We would like to know more about this.