The firm has released the results of an expert study examining the dynamic landscape of cryptocurrency transactions, which has demonstrated substantial changes for both players and operators. 

Providing insight to the study, TonyBet stated: “Crypto players are still niche players, but their value is on average 3x higher than fiat players. Working with platforms such as CryptoProcessing allows operators to stay compliant and ensures that they are protected from crypto fraud. The most important expectations for crypto players are instant withdrawals and access to top games, including popular crypto games.”

The study described the landscape for crypto players as ‘evolving’, though this evolution is presenting both challenges and opportunities. 

CryptoProcessing also reported that over 60% of Bitcoin transactions occurring over its network were for online gaming; they underlined more than 55% of the global online gambling audience as being a holder of cryptocurrency already, showing its increasing vulnerability in the market. 

On the other hand, 22Bet detailed that cryptocurrency engagement fell from 1.9% in 2023 to 1.6% in 2024, while such transactions fell to 2.4% from 9.9% in the same period. 

It added that at the forefront of focus for stakeholders when integrating crypto should be user experience and ensuring the right levels of support are available for players and operators. 

Peter Jermakov, Growth Lead at Gypsy Partners, commented: “Despite the majority of payments still being processed through fiat, we’ve seen an 8.3% growth in crypto payments since last year. This could mark a milestone and showcase the efficiency of crypto as a payment method, especially in the EMEA market. We believe the role of cryptocurrencies in the iGaming industry will continue to grow and compete with alternative payment methods.”

There are however challenges in terms of integration. Ensuring that the process is done effectively and safely for high risk industries is also important, particularly regarding player education and crafting an impactful KYC process.

BetCare provided insight into how the state of play for crypto has evolved in recent years: “Over the last four years of our operations, more brands have integrated crypto payments, making them an industry standard. While it might seem that crypto is more suited to younger users and could be complicated for those accustomed to traditional methods, modern exchanges have made the process very user-friendly. 

“One major advantage of crypto transactions is the ease of verification — many brands skip this step altogether, which can indeed attract scammers but also saves legitimate players time. Additionally, crypto transactions are much faster than fiat ones, and we’ve experienced minimal issues with deposit or withdrawal delays.”

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Under the terms of the agreement, slot titles produced by Amusnet will become available to Tonybet and its Spanish player base, extending the reach of the studio’s proprietary content portfolio. 

Edwin Cruz, Managing Director at Amusnet Spain, commented: “Partnering with Tonybet is a significant step in broadening our footprint in the Spanish online gaming landscape. We are excited to integrate our game portfolio into their platform and look forward to delivering an immersive gaming experience tailored to local preferences.”

Over 90 Amusnet slots have been added to Tonybet’s online casino service as a result of the deal, allowing the operator’s players to spin the reels on games such as 20 Golden Coins, 27 Eternal Hot, Candy Palace, Shining Crown, Cocktail Rush and Aztec Forest.

Kiryl Liudvikevich, Head of Casino at Tonybet, added: “At Tonybet, our priority is to offer customers the best possible gaming experience through a variety of games that meet the highest expectations; therefore, we are delighted to have started this new collaboration with Amusnet in the Spanish market. 

“We know the games offered by this provider will be well received by our players, and we are committed to growing this partnership together.”

While European expansion has been a recent focus for Amustnet with recent deals in Ukraine and Romania, the firm has also set sights on African growth by forming a partnership with Mojabet in Senegal earlier this month. 

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Under the terms of what is labelled as “the beginning of an exciting collaboration”, Booming Games will integrate a range of its igaming suite.

This will offer TonyBet’s Spanish player base the likes of Megahops Megaways, Buffalo Hold and Win, Cash Pig, The Wild Wings of Phoenix, and Crack the Bank Hold and Win

“We are thrilled to welcome Booming Games on board, a leading game provider that offers an exciting and diverse range of games,” stated Davis Skulte, Key Account Manager at TonyBet.

“We have full confidence that their offerings will meet the needs of our players. We eagerly anticipate the development and prosperity of this partnership, which we believe will benefit both parties”.

An alliance with TonyBet ensures that the content development studio will make its maiden entry into Spain’s online gaming ecosystem, which sees Booming Games take another step amid wider expansion ambitions.

By aligning with the operator, Booming Games has noted that the link-up showcases “ambitious expansion plans” as well as a strategic approach to tap into “rapidly growing and promising” European markets. 

Frederik Niehusen, Chief Commercial Officer at Booming Games, said: “The collaboration with TonyBet, the forefront of the gambling industry, is a momentous achievement for our company. 

“TonyBet sets itself apart by providing the safest, fairest, and most trusted online betting environment for players worldwide. This partnership will greatly strengthen our presence in the Spanish market.”

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Under the terms of the agreement, players of the online sports betting and igaming operator will gain a range of digital casino content, which includes Book of Ra deluxe, Lucky Lady’s Charm deluxe and Sizzling Hot, as well as the Diamond Link and Cash Connections range.

Davis Skulte, Game Providers Key Account Manager at TonyBet, said: “We always aim to deliver a best-in-class experience for our customers. Greentube, as one of the largest gaming providers, ticks all the boxes. 

“We are convinced that this will result in a striking partnership and mutual growth in Latvia, soon to be followed by Spain and other markets. Greentube brings a diverse range of content to the region and we’re pleased to be able to offer its games to our players across the globe.”

In addition to rolling-out content via the operator’s Latvian domain, the Novomatic interactive division is to also see its content grace the TonyBet portal in the regulated market of Spain.

“This deal with TonyBet offers further evidence of our commitment to players in the Baltics and it’s fantastic to see our games go live in Latvia with such a significant operator,” commented Opher Ben Zvi, Deputy Head of Sales & Key Account Management at Greentube.

“TonyBet has made great strides in recent years in building a large customer base, with safer gambling at the heart of its strategy, and we also look forward to serving its players in Spain in due course.”

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This latest action, which was complemented by a warning, was issued for a failure to disclose fair and transparent terms, in addition to social responsibility and anti-money laundering shortcomings.

Online sports betting and igaming operator TonyBet will also be required to undergo a third-party audit to assess whether it is effectively implementing such requirements.

The regulator detailed that unfair terms published on the group’s website include stating that winnings could be confiscated where consumers failed to provide AML documentation within 30 days.

It was also discovered that TonyBet may request identification documents for all withdrawals, while not having insisted on those same checks earlier in the business relationship, which it was said could potentially hamper withdrawals but not deposits

TonyBet may also request identification documents for “all withdrawals” despite not having insisted on those same checks earlier in the business relationship, which the UK noted could potentially hamper withdrawals but not deposits.

Furthermore, it was also found that accounts could be considered dormant after six months of inactivity, when this can only be the case after 12 months.

In addition, social responsibility shortcoming identified included failing to identify customers who may be at risk of experiencing harms associated with gambling, as well as not interacting with those that may be at risk of experiencing such harms.

On the AML front, it is said that TonyBet failed to conduct adequate risk assessments of the business being used for money laundering and terrorist financing. It is added that the business did not ensure appropriate policies, procedures and controls were in place to prevent money laundering and terrorist financing.

Kay Roberts, Executive Director of Operations, said: “Not only does this case illustrate our drive to clamp down on anti-money laundering and social responsibility failures, but also highlights action we will take against gambling businesses who fail to be fair and open with customers.”

Yesterday, it was revealed that Vivaro, trading as VBet, is to make payments in lieu of a penalty package of £337,631 after a UKGC investigation discovered “a series of failings”.

Firstly, the investigation, and subsequent regulatory review, found failings in Vivaro’s implementation of anti-money laundering policies, procedures and controls.

The regulator also stated that deficiencies in responsible gambling policies, procedures, controls and practices, including weaknesses in implementation, were also uncovered.

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Last week the operator was confirmed as the 24th licence of the country’s digital ecosystem by the Gaming Authority, with the five-year certification valid from November 15, 2022, to November 14, 2027.

“TonyBet’s development is focused on Canada, Spain, Portugal, UK and Baltic States,” stated Victor Troitsin, CEO of TonyBet Group. 

“We are very excited to enter the promising Dutch market. We are committed to providing players in the Netherlands with safe, secure, innovative and exciting online gaming. We will adopt and implement our 12 years of international experience and best practices.”

The online sports betting and igaming operator, which is based in the Netherlands with a local office in Utrecht, is preparing to enter the market next year with a gaming platform that is powered by SoftLabs.

While preparing to launch all permitted products, TonyBet noted that special attention will be paid to football offers and various entertainment activities, such as local football leagues.

“Adding the Dutch gambling licence to our growing portfolio of local licences was an important objective and we are very proud to have achieved it,” added Jesse Pas, Country Manager of TonyBet in the Netherlands.

“Although the competition is very high, but still young in the Netherlands, we are sure that there is room for a strong local player with a distinctive approach. 

“We want to accomplish this by not putting the focal point on the product, but also on what can our brand add to the total gambling experience, on and offline. 

“For now, all focus is on building a team in the Netherlands and ensuring a successful launch next year.”

Dutch certification become the latest addition for the company, with online gaming licences previously obtained in Spain, Portugal, the UK, Ireland, Canada, Latvia, Estonia and Malta.

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In the latest in a number of recent developments disclosed by the group, as well as a number of market updates issued by the regulator, TonyBet is looking to follow-up an array of European and North American via this latest certification.

This online casino licence issuance permits TonyBet to enter the Dutch digital ecosystem, with the five-year certification valid from November 15, 2022, to November 14, 2027.

Alongside issuing the permit, the Dutch regulator, which welcomed “an important step” in opening the much delayed market on October 1, 2021, also noted that the domain name that the group will operate is not yet known, but once this information becomes available the country’s online gambling guide, Kansspelwijzer, will be updated.

In September, following a multi-nation integration agreement being inked alongside igaming development studio iSoftBet, TonyBet commenced a Latvian journey amid assertions of wider European aspirations.

Following this move, the group stressed a belief that “there is still room in the market for a strong, international player” despite the “considerable competition” that exists within the region. Market entry came after a €1.5m investment was made to create a platform to do so.

Last month, TonyBet followed-up these European developments by aligning with US Integrity in preparation for a Canadian launch, with the igaming and online sports betting brand plans to execute before the close of the year.

Earlier this month, the Dutch gambling regulator issued an instruction to a pair of online gaming providers, as well as a reminder to the industry, after violations of the country’s Money Laundering and Terrorist Financing (Prevention) Act (WwFt) were unearthed.

This followed a market-wide preliminary study into compliance obligations being conducted, following which it was discovered that the two unnamed licence holders did not sufficiently control the gaming behaviour of the players.

After user data was closely examined, it was found that players, including young adults, were able to lose and top up tens of thousands of euros in a short period of time, without the providers having to intervene or investigate. 

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The igaming and online sports betting brand plans to launch in Ontario before the close of the year, building upon nine online gambling licences and the same number of international offices already boasted by the group.

This comes after the group, which operates on the SoftLabs gaming platform, entered the Baltic nation’s digital ecosystem having made a €1.5m investment to create a platform to do so. 

“The integrity of the sports betting experience at TonyBet is of utmost importance, and we are thrilled to be working with US Integrity as we expand across the regulated Canadian market,” said Victor Troitsin, Chief Executive Officer of TonyBet Group. 

“US Integrity’s proactive approach to maintaining integrity will play a pivotal role in detecting potentially suspicious wagering activity.”

The company will provide integrity monitoring services via its proprietary dashboard to TonyBet. The group conducts analysis across dozens of data sets to proactively identify irregular contest-level, officiating and wagering patterns.

“US Integrity is proud to partner with TonyBet and assist as they grow their brand across the Canadian regulated sports wagering market,” commented Matthew Holt, US Integrity’s CEO & co-founder. 

“US Integrity’s mission is to provide conflict-free, best in class insights & compliance solutions to our clients. We are looking forward to working with the exceptional team at TonyBet. 

“All our partners are committed to the highest integrity standards, and they are no exception. These types of partnerships help ensure sports betting integrity and strengthen the unique & proprietary anomaly detection tools we have developed at US Integrity.”

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This comes after the group entered the Baltic nation’s online gambling ecosystem having made a €1.5m investment to create a platform to do so. Tech solutions have been developed by SoftLabs.

The firm, which also elaborated on wider European ambitions, offers a range of products for players in the country, including online sports betting, igaming and live casino.

“We have already started negotiations with the leading football organisations in Latvia about launching cooperation, stated Valters Rozmanis, Chief Executive Officer of TonyBet in Latvia. 

“We will take special care to provide players with not only an exciting and innovative gaming experience, but also that the services provided are offered in a responsible manner and environment. 

“TonyBet has promoted the principles of responsible gaming in other countries where it operates, and in Latvia we will stand up for the protection of customers’ rights and the reduction of potential risks involving on-line gaming. 

“Since the beginning of our operation in Latvia, we have become a member of the Latvian Interactive Gambling Association, or LIAB, and have introduced all the necessary tools for responsible gaming.”

Furthermore, TonyBet, which boasts online gaming licences in Great Britain, Canada, Spain, Estonia, Latvia and Malta, is eyeing a continued European uptick moving forward that could see its 70 strong employee roster swell “by several times” during the next two to three years.

“Currently, the development focus of TonyBet is on the Baltic States, Spain and Great Britain, and we are really pleased to start our operations in Latvia,” noted Victors Troicins, Chief Executive Officer of TonyBet Group.

“For players in Latvia, we are committed to providing safe, secure, innovative and exciting online gaming. We will adopt our 11-year international experience and best practices regarding the protection of players from possible risks created by the industry, and we will also implement them in Latvia, for example, through Neccton, which is an innovative, digital solution created in Austria to promote customer protection.”

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The collaboration with the online gaming and betting group will allow the IGT PlayDigital subsidiary’s titles to go live in various European nations, including Latvia, Spain and Portugal. 

“Partnering with TonyBet is an exciting moment for us as we continue to identify new ways to grow our footprint across Europe,” commented Lars Kollind, Head of Business Development at iSoftBet.

“They have a major presence in a number of key jurisdictions, and we look forward to supplying our fantastic games to its audiences.”

TonyBet has its own plans to expand into new European locations, with the company preparing to enter the Netherlands market in the near future. 

This recent agreement will allow the company to provide iSoftBet’s complete catalogue of igaming titles in its established European positions, including games such as Ocean Hunter, Gold Digger Megaways and Tropical Bonanza.

Davis Skulte, Key Account Manager at TonyBet, added: “iSoftBet brings a diverse range of content to market, from leading Megaways games to innovative Hold and Win titles, and we’re delighted to be able to offer them to our players across Europe.”

This move continues a busy summer period for iSoftBet as it follows similar agreements made with Löwen Play and Alphawin which saw the studio’s titles platformed in Spain and Bulgaria respectively.

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