Upgaming Linked to Unlicensed Casino Networks in Europe
Investigate Europe and The Guardian расследованию revealed that Swiss-Georgian iGaming software provider Upgaming is linked to a network of unlicensed online casinos operating in the UK and EU.
Upgaming and unlicensed casino websites
Investigate Europe and The Guardian report that the iGaming software provider Upgaming has links to at least eight online casino websites targeting European users without proper licences.
Traffic and scale of operations
The platforms, including Velobet, MyStake and Goldenbet, collectively recorded around 2.3 million monthly UK visitors between November 2025 and January 2026, according to Similarweb data.
Corporate links and domain registrations
Investigations show that several casino domains appear to have been registered by Upgaming or its CEO Tornike Tvauri, based on domain and corporate records from multiple jurisdictions.
Affiliation with Santeda International
Most of the casinos are operated by Santeda International under a Curaçao gambling licence, which is not valid in the UK or most EU countries.
Santeda has also been blacklisted by regulators in several countries, including Greece and Sweden.
Targeting UK and EU players
Some sites linked to Upgaming were designed to reach vulnerable users, including people registered with the UK’s GamStop self-exclusion system.
GamStop-related domains
Investigators identified domains such as nongamstopbookies.org, which appear aimed at bypassing self-exclusion tools and promoting Santeda brands.
Legal response and company position
Upgaming lawyers told расследованию that the company denies wrongdoing and claims Santeda was only a software client.
Termination of partnership
The company confirmed that its partnership with Santeda was terminated due to “unregulated presence in restricted jurisdictions”.
Regulatory actions and blacklists
Several associated brands have been placed on regulatory blacklists across Europe, including in France, Italy and Poland.
Regulatory pressure
Authorities in multiple countries continue to monitor unlicensed gambling operations, while some platforms remain accessible online despite removal requests.
Industry scale and financial flows
Illegal online gambling across the EU generated more than €80 billion in revenue in 2024, according to industry estimates cited in the investigation.
Upgaming financial activity
Upgaming’s Cyprus subsidiary reported €26 million in revenue in 2023, with part of its financing linked to development projects in Tbilisi.