SIS and Santeda Offshore Gambling Revenue Deal Revealed
- Sports Information Services (SIS) signed a deal with Santeda in October 2022, taking an 18% cut of gambling revenue from racing bets.
- The agreement included licensing SIS’s racing channels and data to five Santeda-run sites, with a two-year term that automatically renews.
- Since the deal, SIS shareholders have received at least £37 million ($49 million) in dividends.
- Santeda’s license from Curaçao does not cover the U.K., yet investigations found its sites illegally targeting U.K. customers.
- Curaçao has mandated crypto casinos to screen deposit and withdrawal wallets as part of a new crypto risk policy effective September 2024.
The leaked contract between SIS and Santeda highlights significant revenue sharing from offshore gambling activities, raising concerns about legal compliance and ethical practices in the industry. The revelation underscores the tension between regulated markets and offshore operations targeting restricted regions.
SIS’s involvement with Santeda has resulted in substantial financial gains for its shareholders despite regulatory challenges, emphasizing the complex dynamics of global gambling markets.(Source)
