Santeda Linked to $2.7 Billion Illegal Gambling Network, Revealed by GAMRS
Santeda and Its Brands at the Center of a Major Illegal Gambling Network
A recent report by GAMRS, co-authored by DealMeOut CEO Jordan Lea, highlights that Santeda International BV, a Curaçao-based operator, along with its brands Mystake, Cosmobet, Velobet, Goldenbet, and Rolletto, is involved in an extensive illegal gambling network. This network is said to generate around GBP 2 billion (approximately $2.7 billion) annually, making it one of the largest black-market gambling operations.
Understanding GAMRS and Its Role
GAMRS, standing for Gambling Industry Accreditation, Monitoring & Registration Service, is an independent body that collaborates with gambling operators, regulatory authorities, and public bodies to ensure that licensed gambling markets remain free from illegal activities and unsafe providers.
Key Findings from the GAMRS Investigation into Santeda and Its Brands
The GAMRS report included feedback from 96 customers who had wagered on Santeda’s platforms. These individuals reported losses totaling roughly GBP 241,152 (about $322,500) solely on the Mystake site. GAMRS estimated that Mystake alone has an annual turnover of GBP 1.2 billion (about $1.6 billion), which accounts for approximately one-third of Santeda’s total revenue. Notably, players from the UK made up nearly 65% of all traffic to Mystake.
Between August and October 2025, Mystake attracted around 3.4 million visits, averaging 1.1 million visits per month. UK players were particularly engaged, spending on average 22 minutes and 27 seconds per session and viewing nearly 15 pages during each visit.
One testimony detailed a personal struggle where, after the loss of a family member, the individual’s gambling worsened. Despite being registered with Gamstop, they received persistent promotional offers from Mystake and Goldenbet. Over three days, they lost approximately GBP 49,300 (around $66,000), including money borrowed through loans. The individual shared that despite informing Mystake about their gambling addiction, the platform continued to send offers, contributing to severe personal distress.
Why Is This Illegal Gambling Activity Thriving?
GAMRS points out that operators like Santeda, based in offshore locations, pay very little tax compared to regulated companies in licensed markets. This financial advantage allows them to invest heavily in consumer acquisition and retention strategies, outpacing their legally operating competitors.
The organization also notes that increased regulations and taxes in lawful gambling markets may inadvertently push players towards the black market. As gambling taxes grow, legitimate operators are forced to cut back on marketing and player incentives, making illegal sites more attractive by comparison.
In the UK, for example, the planned Autumn Budget includes significant tax increases for gambling companies. Critics, including the British Gaming and Betting Council, warn that this may reduce the competitiveness of legal gaming, pushing users to riskier illegal platforms.
GAMRS shares this concern, highlighting that illegal operators are not bound by such tax and regulatory limitations and are already exploiting these conditions. The report warns that imposing additional fiscal or regulatory burdens on the licensed sector will likely accelerate the migration of consumers to illegal sites, which offer better deals but lack consumer protections.
The report concludes by urging regulators and governments to reconsider current policies, cautioning that measures intended to reduce harm may actually be exacerbating it by strengthening illegal gambling markets.
