Santeda, the group behind offshore gambling platforms MyStake, GoldenBet, DonBet and Rolletto, may finally be forced to face legal action in its home region of Curaçao after several players sued the company for refusing to pay out their winnings. If successful, this legal challenge could add to Santeda’s recent regulatory troubles.
The Lawsuit Does Not Paint the Company in Good Light
According to a recent Next.io report, Santeda may be forced to return EUR 246,500 ($281,000) in player winnings the company allegedly withheld. The case involves roughly 25 player claims. While most eventually settled for far fewer than their winnings, one Spanish bettor decided to pursue the issue in court. MyStake reportedly seized his winnings, claiming that he had violated the platform’s terms and conditions.
The plaintiff’s refusal to settle for less than 75% of his total winnings was apparently unacceptable to Santeda, as the company alleged that he had exceeded its EUR 20 maximum stake. The operator was only willing to pay out EUR 7,500 ($8,500), leading to the current debate. Neither side has been willing to back down.
Unfortunately for Santeda, a Curaçao appeals court is set to confirm a prior ruling supporting the player’s claims. The judge pointed to an option in the operator’s terms that allowed players to adjust their stake. Santeda was ordered to pay out the full winnings plus interest, in addition to legal fees and EUR 4,500 ($5,100) in other costs. If the appeal confirms this decision and the operator refuses to comply, it could face additional penalties.
Santeda Remains in a Precarious Position
An appeals court ruling against Santeda would add to the company’s recent troubles. Last month, regulatory pressure from the UK, where many of the company’s brands operate without a license, forced several software vendors to pull their offerings from the platform, causing major disruptions. Industry watchdogs continue to warn that any business dealing with such platforms risks punitive action.
А publication by GAMRS described Santeda as part of a sprawling, multi-jurisdictional system for concealing ownership and avoiding regulation. The investigation forced two key companies in the structure, Santeda International B.V. and GTW B.V., to shut down their operations, likely out of fear of regulatory scrutiny. This move left the group’s ownership structure even more opaque.
The lawsuit in Curaçao could spell trouble for the group’s licensing fronts that provide a veneer of legitimacy. An appeals court decision is expected on 28 July. It also remains unclear whether local regulators will take additional action against the offending company. However, the sprawling nature of the group’s activities means that its platforms will likely remain active for the foreseeable future.