Payments &amp; Capital Chain

Processing CNY for gambling

PBOC/SAFE capital-chain severance; 2,800+ payment platforms shut

SRC-CN-012

Processing CNY for gambling

PBOC/SAFE capital-chain severance; 2,800+ payment platforms shut

SRC-CN-012

Processing CNY for gambling

PBOC/SAFE capital-chain severance; 2,800+ payment platforms shut

SRC-CN-012

Processing CNY for gambling

PBOC/SAFE capital-chain severance; 2,800+ payment platforms shut

SRC-CN-012

Processing CNY for gambling

PBOC/SAFE capital-chain severance; 2,800+ payment platforms shut

SRC-CN-012

🇨🇷 Costa RicaCritical

Relying on card rails for CR-registered gambling

MCC 7995 acceptance declining; PSP de-risking active.

SRC-CR-004

🇨🇷 Costa RicaCritical

Assuming correspondent-bank access

US correspondent banks scrutinise CR gambling flows under FinCEN advisories.

SRC-CR-008

🇮🇳 IndiaCritical

Bank/PSP facilitation of money-game flows

Criminalised (up to 3 yrs/INR 1 crore) under s.7.

SRC-IN-004

🇮🇩 IndonesiaCritical

OJK account freezing (33,252+ accounts)

Payment flows are frozen and forfeited.

SRC-ID-008

🇮🇩 IndonesiaCritical

Banking access critical

No bank will knowingly serve a gambling operator.

SRC-ID-008

🇵🇰 Islamic Republic of PakistanCritical

Processing player funds via JazzCash/Easypaisa/SadaPay

Mobile-money rails are flagged and treated as money laundering.

SRC-PK-008

🇲🇾 MalaysiaCritical

BNM/AMLATFPUAA designates gambling proceeds unlawful

Payment facilitation is itself a criminal/AML predicate exposure.

SRC-MY-005

🇳🇵 NepalCritical

Processing Nepal-origin gambling payments

NRB freeze powers; no lawful online channel; FATF EDD.

SRC-NP-008

🇳🇴 NorwayCritical

Payment-intermediation ban

Banks must block deposits and payouts to/from unlicensed operators, including indirect flows.

SRC-NO-011

🇰🇷 Republic of Korea (South Korea)Critical

Processing Korean-national gambling flows

FSC/KoFIU systematic payment blocking; AML predicate.

SRC-KR-010

🇷🇺 RussiaCritical

SWIFT exclusion of Russian banks

Cross-border settlement effectively impossible

SRC-RU-003

🇷🇺 RussiaCritical

Correspondent banking disruption systemic

No reliable banking for cross-border

SRC-RU-003

🇸🇦 Saudi ArabiaCritical

Processing Saudi gambling deposits/withdrawals

FATF-grade AML monitoring of gambling-linked flows; bank account freezes.

SRC-SA-002 SRC-SA-008

🇸🇬 SingaporeCritical

MAS-directed payment blocking

Payment rails to offshore operators are severed.

SRC-SG-012

🇻🇳 Socialist Republic of VietnamCritical

Routing gambling funds through VN banks/e-wallets

SBV directs blocking; remittances prohibited; AML predicate exposure.

SRC-VN-002

🇹🇭 ThailandCritical

Payment facilitation for gambling is an enforcement target

Indefensible payment-processor risk; AML predicate exposure.

SRC-TH-006

🇹🇷 Türkiye (Turkey)Critical

Mediating or processing money transfers linked to unlicensed betting

3-5 years' imprisonment plus judicial fine under Law 7258 Art. 5/1-c; immediate account freeze risk (48h) under the 11th Judicial Package.

SRC-TR-014 SRC-TR-007

🇺🇸 United States (Federal Layer)Critical

Processing payments for unlicensed gambling

UIGEA criminalises facilitation of unlawful internet gambling funding.

SRC-US-009

🇩🇿 AlgeriaHigh

Crypto criminalised (Law 25-10, 2025)

Eliminates crypto payment ramp and exposes users to criminal liability.

SRC-DZ-006

🇩🇿 AlgeriaHigh

Banque d'Algérie FX/capital controls

No lawful gambling payment channel; cross-border flows restricted.

SRC-DZ-010

🇩🇿 AlgeriaHigh

Correspondent-banking de-risking risk

Grey-list status increases bank caution on DZ flows.

SRC-DZ-011

Accepting credit card deposits

Banned from 11 June 2024 for licensed operators.

SRC-AU-016

Accepting crypto deposits

Digital currency deposit ban for licensed operators.

SRC-AU-016

Accepting credit card deposits

Banned from 11 June 2024 for licensed operators.

SRC-AU-016

Accepting crypto deposits

Digital currency deposit ban for licensed operators.

SRC-AU-016

Accepting credit card deposits

Banned from 11 June 2024 for licensed operators.

SRC-AU-016

British Columbia — Canada (province)High

Accepting crypto deposits

Digital currency deposit ban for licensed operators.

SRC-AU-016

🇦🇹 AustriaHigh

BMF payment-blocking power over PSPs

Disrupts deposit/withdrawal rails for unlicensed operators.

SRC-AT-002

🇧🇩 BangladeshHigh

Cryptocurrency fully banned

Removes crypto as a funding/circumvention rail; FX/AML offence.

SRC-BD-011

🇧🇷 BrazilHigh

Banks barred from transacting with unlicensed operators

Licence is precondition for banking access.

SRC-BR-012

🇧🇷 BrazilHigh

Banks barred from transacting with unlicensed operators

Licence is precondition for banking access.

SRC-BR-012

🇧🇷 BrazilHigh

Banks barred from transacting with unlicensed operators

Licence is precondition for banking access.

SRC-BR-012

Processing payments for offshore operators serving BC players

Outside the legal framework; AML/enforcement exposure.

SRC-CA-BC-005

🇧🇬 BulgariaHigh

Below BGN 1.5m share capital

Statutory minimum for licence eligibility.

SRC-BG-003

🇰🇭 CambodiaHigh

Crypto-based gambling funding

Crypto gambling prohibited; crypto used in illicit flows.

SRC-KH-008

🇰🇭 CambodiaHigh

Correspondent banking reliance

De-risking pressure from FinCEN actions.

SRC-KH-008

🇨🇲 CameroonHigh

Correspondent-banking friction from grey listing

International partners may impose enhanced controls on Cameroonian institutions.

SRC-CM-006

🇨🇱 ChileHigh

PSP/bank payment blocking

Payment access to offshore operators is being voluntarily restricted.

SRC-CL-009

Nested aggregator obscuring China exposure

Detected and prosecuted as part of ecosystem dismantling

SRC-CN-012

Correspondent-bank de-risking from CN player files

Hub-licensed operators face de-risking due to CN exposure

SRC-CN-012

Nested aggregator obscuring China exposure

Detected and prosecuted as part of ecosystem dismantling

SRC-CN-012

Correspondent-bank de-risking from CN player files

Hub-licensed operators face de-risking due to CN exposure

SRC-CN-012

Nested aggregator obscuring China exposure

Detected and prosecuted as part of ecosystem dismantling

SRC-CN-012

Correspondent-bank de-risking from CN player files

Hub-licensed operators face de-risking due to CN exposure

SRC-CN-012

Nested aggregator obscuring China exposure

Detected and prosecuted as part of ecosystem dismantling

SRC-CN-012

Correspondent-bank de-risking from CN player files

Hub-licensed operators face de-risking due to CN exposure

SRC-CN-012

Nested aggregator obscuring China exposure

Detected and prosecuted as part of ecosystem dismantling

SRC-CN-012

Correspondent-bank de-risking from CN player files

Hub-licensed operators face de-risking due to CN exposure

SRC-CN-012

🇨🇼 CuraçaoHigh

Insufficient funding to pay player winnings

Financial-readiness condition; application failure.

SRC-CW-012

🇨🇾 CyprusHigh

No Cyprus banking account

Class B must maintain a valid Cyprus banking account.

SRC-CY-006

🇨🇿 Czech RepublicHigh

Relying on PSPs serving blacklisted sites

PSPs must refuse transactions to blacklisted unlicensed gambling sites.

SRC-CZ-007

🇩🇰 DenmarkHigh

Accepting cash deposits or inter-account transfers online

Explicitly prohibited.

SRC-DK-002

🇪🇬 EgyptHigh

Card or bank payment for gambling

MCC 7995 blocked at issuer level; CBE blocks gambling transactions.

SRC-EG-008

🇪🇬 EgyptHigh

Gambling-related FX conversion

Gambling-related FX remains illegal despite 2024 partial liberalisation.

SRC-EG-008

🇫🇷 FranceHigh

Offering credit for gambling

Prohibited.

SRC-FR-010

🇫🇷 FranceHigh

Offering credit for gambling

Prohibited.

SRC-FR-010

🇫🇷 FranceHigh

Offering credit for gambling

Prohibited.

SRC-FR-010

Georgia (U.S. State)High

No state-licensed payment rails for wagering; federal UIGEA backdrop applies

Any commercial payment processor facilitating GA wagering transactions faces federal exposure absent state licensing

SRC-US-GA-009

🇬🇭 GhanaHigh

Severe cedi depreciation

Erodes USD-equivalent revenue against USD-denominated costs.

SRC-GH-008

🇬🇮 GibraltarHigh

Customer funds not in company-controlled accounts

Breach of licence fund-handling rules.

SRC-GI-012

🇬🇮 GibraltarHigh

Customer funds not in company-controlled accounts

Breach of licence fund-handling rules.

SRC-GI-012

🇬🇧 Great BritainHigh

Credit-card gambling

Banned since April 2020.

SRC-GB-001

🇬🇧 Great BritainHigh

Credit-card gambling

Banned since April 2020.

SRC-GB-001

🇬🇷 GreeceHigh

Payment blocking of blacklisted sites

Offshore deposit/withdrawal disruption.

SRC-GR-007

🇭🇰 Hong Kong SARHigh

Processing gambling payments for unlicensed operators

HKMA suspicious-transaction guidance; bank de-risking risk

SRC-HK-006

🇭🇺 HungaryHigh

Prohibited-payment-account register + MCC rejection

PSPs face HUF 1m–5m fines and must block non-licensed gambling flows.

SRC-HU-005

🇮🇳 IndiaHigh

FEMA inward-remittance bar

Foreign-owned operators cannot lawfully collect from Indian players.

SRC-IN-001

🇮🇩 IndonesiaHigh

e-wallet/VA blocking by BI

Digital funding rails severed.

SRC-ID-007

🇮🇪 IrelandHigh

Accepting credit-card deposits

Credit-card gambling banned under GRA 2024.

SRC-IE-006

Processing JPY card/bank payments for online gambling

METI/FSA/NPA coordinate to remove operators from payment networks; rails are being actively interdicted.

SRC-JP-007

Crypto/stablecoin rails for JP gambling

June 2025 PSA amendment tightens crypto/stablecoin rules; crypto gambling is actively prosecuted.

SRC-JP-007

Processing JPY card/bank payments for online gambling

METI/FSA/NPA coordinate to remove operators from payment networks; rails are being actively interdicted.

SRC-JP-007

Crypto/stablecoin rails for JP gambling

June 2025 PSA amendment tightens crypto/stablecoin rules; crypto gambling is actively prosecuted.

SRC-JP-007

Processing JPY card/bank payments for online gambling

METI/FSA/NPA coordinate to remove operators from payment networks; rails are being actively interdicted.

SRC-JP-007

Crypto/stablecoin rails for JP gambling

June 2025 PSA amendment tightens crypto/stablecoin rules; crypto gambling is actively prosecuted.

SRC-JP-007

🇰🇿 KazakhstanHigh

Routing gambling payments via Kaspi for illegal operators

Mobile-payment blocking against illegal sites since May 2026.

SRC-KZ-006

🇰🇿 KazakhstanHigh

Entering a new gambling zone without US$100–300M

Zone development capital requirements gate entry to institutional investors.

SRC-KZ-003

🇰🇪 KenyaHigh

M-Pesa dependency

Commercial failure without Safaricom Pay Bill agreement.

SRC-KE-009

🇲🇾 MalaysiaHigh

Banks deployed AI gambling-keyword transaction blocking (Oct 2025)

Deposit/withdrawal rails are degrading rapidly.

SRC-MY-011

🇲🇽 MexicoHigh

High banking risk for gambling flows

PSP de-risking and account-freeze exposure.

SRC-MX-010

🇲🇦 MoroccoHigh

Office des Changes FX controls

Restricts capital outflow to offshore operators.

SRC-MA-007

🇲🇿 MozambiqueHigh

USD 2.7m share capital / USD 5.5m investment for casino

Significant capital intensity for small market.

SRC-MZ-004

🇲🇲 MyanmarHigh

KBZPay/AYA Pay rails for gambling

Correspondent banking restrictions; SWIFT isolation.

SRC-MM-003

🇲🇲 MyanmarHigh

Card scheme MCC processing

Visa/Mastercard effectively withdrawn from MM.

SRC-MM-003

🇳🇵 NepalHigh

Casino foreign-currency dealing without NRB approval

Explicitly prohibited; immediate legal action.

SRC-NP-008

🇳🇿 New ZealandHigh

Money remittance without prescribed transaction reporting

DIA fined Qian DuoDuo NZ$1.125m for reporting failures.

SRC-NZ-009

🇳🇬 NigeriaHigh

Operating without CBN-licensed PSP

PSP licence required for payment processing

SRC-NG-009

🇳🇴 NorwayHigh

Bank compliance inspections

Lotteritilsynet inspects banks for payment-ban compliance, tightening rails.

SRC-NO-005

🇵🇦 PanamaHigh

New gambling operator seeks bank account

Post-FATF debanking of gambling operators is a documented elevated risk.

SRC-PA-007

🇵🇪 PeruHigh

Unregistered payment gateway

PSPs must register as Proveedor de Servicios Vinculados to serve licensed platforms.

SRC-PE-005

🇵🇪 PeruHigh

Processing for unlicensed sites

Active MINCETUR/bank payment-blocking targets such flows.

SRC-PE-007

🇵🇭 PhilippinesHigh

Reliance on PH e-wallet/bank rails

BSP delinking directive cut licensed volume ~50%.

SRC-PH-008

🇵🇭 PhilippinesHigh

Crypto funding

Not yet regulated; high AML exposure.

SRC-PH-009

Using crypto as a gambling payment rail

Not permitted under the Gambling Act

SRC-PL-002

Relying on BLIK/domestic rails as an offshore operator

PSPs withdrew rails from unlicensed sites after UKNF warning

SRC-PL-003

Underfunding share capital below PLN 2M

Statutory minimum; sub-minimum capital is a revocation ground

SRC-PL-001

Using crypto as a gambling payment rail

Not permitted under the Gambling Act

SRC-PL-002

Relying on BLIK/domestic rails as an offshore operator

PSPs withdrew rails from unlicensed sites after UKNF warning

SRC-PL-003

Underfunding share capital below PLN 2M

Statutory minimum; sub-minimum capital is a revocation ground

SRC-PL-001

Using crypto as a gambling payment rail

Not permitted under the Gambling Act

SRC-PL-002

Relying on BLIK/domestic rails as an offshore operator

PSPs withdrew rails from unlicensed sites after UKNF warning

SRC-PL-003

🇻🇳 Socialist Republic of VietnamHigh

Underfunding share capital below PLN 2M

Statutory minimum; sub-minimum capital is a revocation ground

SRC-PL-001

🇶🇦 QatarHigh

Crypto/e-wallet deposit routes marketed to Qatari residents

Interacts with reported 2021 QFCRA crypto-services restriction and AML exposure.

SRC-QA-007

Quebec — Canada (province)High

Lawful payments only via Loto-Québec channels

No compliant PSP route for private operators.

SRC-CA-QC-004

🇷🇺 RussiaHigh

CBR payment blocking of unlicensed flows

Payment channels cut for offshore operators

SRC-RU-008

🇷🇺 RussiaHigh

Crypto prohibited for gambling

Grey-market only; legal risk

SRC-RU-001

🇸🇦 Saudi ArabiaHigh

Correspondent banking exposure to Saudi gambling flows

Egmont-member FIU and intensified 2025–2026 bank monitoring.

SRC-SA-002

🇸🇦 Saudi ArabiaHigh

E-wallet routing for gambling deposits

Suspicious transfers to gambling-linked e-wallets trigger AML investigations.

SRC-SA-008

🇷🇸 SerbiaHigh

Failing to maintain EUR 250,000 capital

Capital must be maintained while approval is in force; breach risks revocation.

SRC-RS-009

Cross-border gambling remittance

Prohibited under SBV foreign-exchange management.

SRC-VN-002

🇿🇦 South AfricaHigh

Card processing for offshore casino

Bank-level blocking and AML exposure

SRC-ZA-006

🇪🇸 SpainHigh

Anonymous payment methods

Prohibited; full traceability required.

SRC-ES-013

🇪🇸 SpainHigh

Anonymous payment methods

Prohibited; full traceability required.

SRC-ES-013

🇪🇸 SpainHigh

Anonymous payment methods

Prohibited; full traceability required.

SRC-ES-013

Crypto-based betting settlement

Crypto excluded from legal framework; AML/illegality risk.

SRC-LK-006

Non-rupee / non-approved-gateway settlement

Transactions must use LKR or GRA-approved gateways.

SRC-LK-006

Financing illegal gambling

Statutory offence under the GRA Act.

SRC-LK-007

Crypto-based betting settlement

Crypto excluded from legal framework; AML/illegality risk.

SRC-LK-006

Non-rupee / non-approved-gateway settlement

Transactions must use LKR or GRA-approved gateways.

SRC-LK-006

Financing illegal gambling

Statutory offence under the GRA Act.

SRC-LK-007

Crypto-based betting settlement

Crypto excluded from legal framework; AML/illegality risk.

SRC-LK-006

Non-rupee / non-approved-gateway settlement

Transactions must use LKR or GRA-approved gateways.

SRC-LK-006

🇦🇪 United Arab Emirates — federal jurisdiction (nascent GCGRA framework)High

Financing illegal gambling

Statutory offence under the GRA Act.

SRC-LK-007

🇸🇪 SwedenHigh

Credit-funded deposits after 1 April 2026

Full credit ban with Q2 audits; fines from SEK 1m.

SRC-SE-005

🇸🇪 SwedenHigh

BNPL/Klarna deposits post-April 2026

Explicitly folded into the credit ban scope.

SRC-SE-005

🇸🇪 SwedenHigh

Failure to trace loan-origin funds transferred via bank

Credit ban extends to funds tracing back to borrowed money.

SRC-SE-005

🇹🇼 TaiwanHigh

Processing gambling payments for Taiwan players

PSP facilitation attracts criminal and AML exposure.

SRC-TW-010

🇹🇼 TaiwanHigh

Bank de-risking of gambling-adjacent accounts

Banking risk assessed critical.

SRC-TW-010

🇹🇿 TanzaniaHigh

USD 500k foreign investment floor (3rd-party)

Capital intensity for foreign entrants.

SRC-TZ-013

TexasHigh

Processing TX customer payments for offshore gambling

Elevated banking risk; transactions may be flagged and legally precarious for both processor and bettor

SRC-TX-014

🇹🇭 ThailandHigh

Proposed THB 10bn capital / THB 5bn licence fee

Extreme capital intensity even if EC bill enacted.

SRC-TH-005

🇹🇭 ThailandHigh

BOT directs FIs to block gambling channels

Banking access for gambling flows effectively unavailable.

SRC-TH-006

🇹🇳 TunisiaHigh

Gambling blacklisted merchant category

PSP onboarding routinely rejected; payment flows fragile

SRC-TN-006

🇹🇳 TunisiaHigh

Strict BCT FX controls

Cross-border settlement of gambling flows constrained

SRC-TN-006

🇹🇳 TunisiaHigh

2018 BCT crypto criminalisation

Crypto cannot be used as a compliant funding rail

SRC-TN-012

🇹🇷 Türkiye (Turkey)High

Bank/PSP transfers of TRY 200,000 or more without enhanced due diligence

Mandatory MASAK data-collection and reporting; failure risks administrative/criminal sanction for the institution.

SRC-TR-012

🇺🇦 UkraineHigh

Banking stress and disrupted international card processing

Payment acceptance and settlement are constrained.

SRC-UA-004

🇺🇦 UkraineHigh

NBU FX repatriation restrictions

Profit repatriation may be blocked or delayed.

SRC-UA-004

🇺🇦 UkraineHigh

Baseline-spec names obsolete regulator (KRAIL)

Downstream consumers must use PlayCity, not KRAIL.

SRC-UA-008

PSP/banking access for gaming merchants

TDRA blocking and CBUAE oversight make payment rails high-risk outside licensed conditions.

SRC-AE-014

🇦🇪 United Arab Emirates — federal jurisdiction (nascent GCGRA framework)High

Underestimating capital/suitability bar

Bank-grade AML, audited financials and capital reserves expected.

SRC-AE-009

🇬🇧 United KingdomHigh

Credit-card gambling

Banned since April 2020.

SRC-GB-001

🇺🇸 United States (Federal Layer)High

Card processing in prohibited states

MCC 7995 is blocked in prohibited states per UIGEA.

SRC-US-009

🇻🇪 VenezuelaHigh

Zelle USD as the only practical rail

No formally legal gambling payment channel; AML typology risk.

SRC-VE-004

🇻🇪 VenezuelaHigh

BCV payment oversight severely degraded

No reliable banking infrastructure for settlement.

SRC-VE-004

Alberta — Canada (province)Medium

Unregistered e-wallet supplier

E-wallet providers must register as suppliers; using unregistered providers risks non-compliance.

SRC-CA-AB-009

🇦🇷 ArgentinaMedium

Relying solely on credit-card funding

BCRA restrictions affect gambling card transactions; local rails (Mercado Pago/MODO/DEBIN) are standard.

SRC-AR-005

🇦🇷 ArgentinaMedium

Cross-province cash-out

Players may only cash in/out within the licensing province.

SRC-AR-005

Arizona — StateMedium

Crypto deposits

No ADG-approved crypto gambling pathway.

SRC-US-AZ-002

Arizona — StateMedium

Withdrawal delays

Operator must honour payout obligations to verified players.

SRC-US-AZ-005

🇧🇪 BelgiumMedium

Crypto AML/CFT caution

BGC flagged crypto risk to operators.

SRC-BE-004

Credit-card deposits prohibited

Funnels deposits to PIX/bank rails.

SRC-BR-010

Crypto deposits prohibited

No crypto funding pathway.

SRC-BR-010

Credit-card deposits prohibited

Funnels deposits to PIX/bank rails.

SRC-BR-010

Crypto deposits prohibited

No crypto funding pathway.

SRC-BR-010

Credit-card deposits prohibited

Funnels deposits to PIX/bank rails.

SRC-BR-010

Crypto deposits prohibited

No crypto funding pathway.

SRC-BR-010

🇧🇬 BulgariaMedium

Non-EU bank account for player funds

EU bank account mandatory.

SRC-BG-006

🇨🇲 CameroonMedium

Mandatory InTouch aggregator routing

Single point of failure and control over all online gambling payments.

SRC-CM-004

🇨🇲 CameroonMedium

CFA 200m bank guarantee for online

Material capital lock-up barrier for online entry.

SRC-CM-003

🇨🇦 Canada (Federal Overview)Medium

Assuming uniform card-block policy

No federal gambling card ban; issuer policies vary by bank.

SRC-CA-006

🇨🇴 ColombiaMedium

Mandatory Colombian bank account and local fund management

Banking access friction for foreign entrants.

SRC-CO-008

🇨🇴 ColombiaMedium

Crypto deposits taxable on deposit

Crypto funding carries tax-trigger complexity.

SRC-CO-006

🇨🇷 Costa RicaMedium

Crypto-only as sole rail

Concentration risk; fiat off-ramp friction and volatility.

SRC-CR-007

🇨🇼 CuraçaoMedium

Over-reliance on single PSP for grey-market flows

PSP deplatforming risk during reputation transition.

SRC-CW-010

🇨🇾 CyprusMedium

Accepting cash for online bets

Prohibited under Article 58 for Class B.

SRC-CY-006

🇨🇾 CyprusMedium

Accepting bet without sufficient player funds

Prohibited; breach of Betting Law Part VI.

SRC-CY-006

🇨🇿 Czech RepublicMedium

Crypto/skin betting as funding

Virtual-currency gambling status undetermined; risk of non-compliance.

SRC-CZ-006

🇩🇴 Dominican RepublicMedium

MCC 7995 card treatment unverified

Card acceptance for gambling may be inconsistent.

SRC-DO-008

🇪🇨 EcuadorMedium

AML controls maturing

UAFE online-betting controls still being implemented.

SRC-EC-002

EUR 1m share capital for casino

Material upfront capital lock-up.

SRC-EE-014

2026 licensed-EEA-channel requirement

Payment flows must route via licensed EEA institutions/CASPs.

SRC-EE-006

Crypto now within bet definition

Crypto handling triggers reporting and CASP-routing obligations.

SRC-EE-006

🇲🇴 Macau SAR (Macau Special Administrative Region, China)Medium

Post-Danske Bank banking caution

Heightened bank de-risking sensitivity.

SRC-EE-010

🇫🇮 FinlandMedium

Crypto excluded; outside banking blocks

Offshore operators retain a crypto channelisation gap.

SRC-FI-010

🇫🇷 FranceMedium

PSP de-risking offshore

Selective de-platforming of FR-facing unlicensed operators.

SRC-FR-006

🇫🇷 FranceMedium

PSP de-risking offshore

Selective de-platforming of FR-facing unlicensed operators.

SRC-FR-006

🇫🇷 FranceMedium

PSP de-risking offshore

Selective de-platforming of FR-facing unlicensed operators.

SRC-FR-006

🇬🇭 GhanaMedium

US$2m minimum stated capital condition precedent for sports betting

High barrier to entry.

SRC-GH-006

🇬🇭 GhanaMedium

Mobile-money rail concentration (MTN ~60%)

Single-rail dependency risk.

SRC-GH-001

🇬🇧 Great BritainMedium

Open-loop voucher funding

Flagged high-risk by UKGC.

SRC-GB-001

🇬🇧 Great BritainMedium

Open-loop voucher funding

Flagged high-risk by UKGC.

SRC-GB-001

🇮🇸 IcelandMedium

Payment blocking expectation for offshore gambling

Funds-flow risk for unlicensed operators.

SRC-IS-006

🇮🇸 IcelandMedium

No penalties on banks facilitating offshore gambling

Current gap may close abruptly under reform.

SRC-IS-006

Indiana — StateMedium

Using non-compliant MCC for gambling transactions

MCC 7995 required for licensed-operator transactions.

SRC-US-IN-007

🇮🇩 IndonesiaMedium

Capital-outflow concern (~US$8bn/year)

Politically salient; drives enforcement intensity.

SRC-ID-007

🇮🇪 IrelandMedium

Not returning customer funds on account closure

Statutory obligation around fund return.

SRC-IE-006

🇮🇲 Isle of ManMedium

Failure to hold IM bank account

Statutory requirement absent agreement.

SRC-IM-005

🇮🇲 Isle of ManMedium

Failure to hold IM bank account

Statutory requirement absent agreement.

SRC-IM-005

🇮🇲 Isle of ManMedium

Failure to hold IM bank account

Statutory requirement absent agreement.

SRC-IM-005

🇮🇹 ItalyMedium

Offering crypto funding

Crypto not a permitted ADM funding method.

SRC-IT-004

🇮🇹 ItalyMedium

Cash deposits exceeding €100/week

Strict cash limitation under new framework.

SRC-IT-004

🇰🇿 KazakhstanMedium

Crypto-based deposits

Crypto gambling is prohibited and crypto rails are unreliable.

SRC-KZ-004

🇱🇹 LithuaniaMedium

PSP fines EUR 1,800-3,800 for facilitating unlicensed sites

PSPs de-risk aggressively; affects banking relationships.

SRC-LT-011

Credit restricted to concessionaires

Law 7/2024 limits credit issuance

SRC-MO-002

🇲🇴 Macau SAR (Macau Special Administrative Region, China)Medium

Limited PSP availability for online

No online payment ecosystem

SRC-MO-004

🇲🇾 MalaysiaMedium

E-wallet issuers warned by BNM (Sept 2025)

Alternative e-money rails are also under regulatory pressure.

SRC-MY-011

🇲🇹 MaltaMedium

Banking access diligence for gaming entities

Account-opening friction despite EU status.

SRC-MT-003

Michigan — StateMedium

Unapproved cashiering locations

Cashiering must occur at Board-approved locations.

SRC-US-MI-009

Michigan — StateMedium

Unapproved cashiering locations

Cashiering must occur at Board-approved locations.

SRC-US-MI-009

Michigan — StateMedium

Unapproved cashiering locations

Cashiering must occur at Board-approved locations.

SRC-US-MI-009

🇲🇦 MoroccoMedium

Crypto gambling explicitly banned

Removes crypto as a circumvention rail.

SRC-MA-007

🇲🇦 MoroccoMedium

Bank-level tax withholding visibility

Player transactions visible; no anonymity.

SRC-MA-007

🇲🇦 MoroccoMedium

MCC 7995 issuer blocking

Card-funding of gambling restricted at issuer level.

SRC-MA-007

🇲🇿 MozambiqueMedium

Mobile-money dependency

M-Pesa/e-Mola integration effectively mandatory.

SRC-MZ-010

🇲🇿 MozambiqueMedium

Exchange control on remittances

Banco de Moçambique controls cross-border flows.

SRC-MZ-001

🇲🇿 MozambiqueMedium

Selective card acceptance

Major global PSPs deprioritise MZ licence.

SRC-MZ-010

🇳🇵 NepalMedium

Undercapitalised casino entry

NPR 300m minimum paid-up capital for large casinos.

SRC-NP-007

🇳🇱 NetherlandsMedium

Crypto/virtual currencies prohibited for licensed play

Limits funding-method flexibility.

SRC-NL-005

New Brunswick (Canada)Medium

Building NB-specific payment rails for commercial entry

No commercial channel to serve.

SRC-CA-NB-005

🇳🇿 New ZealandMedium

Crypto deposit channels for NZ players

Crypto gambling sits in a prohibited/unenforced grey zone with AML exposure.

SRC-NZ-001

🇳🇬 NigeriaMedium

Insufficient share capital for foreign-involved entity

NGN 100m required where foreign involvement

SRC-NG-009

🇳🇴 NorwayMedium

BankID restrictions

BankID login/payment integration is increasingly restricted for offshore sites.

SRC-NO-011

🇵🇦 PanamaMedium

MCC 7995 card processing assumptions

Correspondent-banking scrutiny may disrupt card rails.

SRC-PA-007

🇵🇭 PhilippinesMedium

Withdrawal delays

Restricted rails complicate payouts.

SRC-PH-008

🇵🇹 PortugalMedium

Virtual assets prohibited for gambling

Crypto funding is unavailable; only EUR fiat e-instruments permitted.

SRC-PT-007

🇵🇹 PortugalMedium

Virtual assets prohibited for gambling

Crypto funding is unavailable; only EUR fiat e-instruments permitted.

SRC-PT-007

🇵🇹 PortugalMedium

Virtual assets prohibited for gambling

Crypto funding is unavailable; only EUR fiat e-instruments permitted.

SRC-PT-007

Rhode Island — StateMedium

Sports handle declining YoY

March handle down ~28% YoY signals soft demand.

SRC-US-RI-012

🇷🇺 RussiaMedium

TSUPIS mandatory routing

State chokepoint on all legal flows

SRC-RU-006

🇷🇼 RwandaMedium

Dependence on MTN/Airtel mobile money

Concentration risk in payment rails; disruption would impair operations.

SRC-RW-002

🇸🇳 SenegalMedium

20% tax-at-source on withdrawals

Deductions at payout create reconciliation and player-experience friction.

SRC-SN-006

🇷🇸 SerbiaMedium

Non-RSD settlement reliance

Local currency and methods expected; offshore rails constrained.

SRC-RS-004

🇸🇰 SlovakiaMedium

eKasa real-time fiscal reporting from 2026

New technical reporting obligation for online casino.

SRC-SK-011

🇻🇳 Socialist Republic of VietnamMedium

Underestimating casino capital threshold

Integrated-resort casino requires USD 2bn minimum investment.

SRC-VN-001

🇿🇦 South AfricaMedium

Crypto deposits to offshore casinos

Does not legalise offshore casino under ZA law; banking risk

SRC-ZA-006

🇪🇸 SpainMedium

Insufficient capital / guarantees

€100k minimum capital plus scaled economic guarantees required.

SRC-ES-008

🇪🇸 SpainMedium

Insufficient capital / guarantees

€100k minimum capital plus scaled economic guarantees required.

SRC-ES-008

🇪🇸 SpainMedium

Insufficient capital / guarantees

€100k minimum capital plus scaled economic guarantees required.

SRC-ES-008

Reliance on blocked card rails (MCC 7995)

Card-scheme gambling MCC treatment restricted at LK issuer level.

SRC-LK-010

Cross-border capital outflow via offshore platforms

FX-loss policy concern; residual CBSL exchange controls.

SRC-LK-010

Reliance on blocked card rails (MCC 7995)

Card-scheme gambling MCC treatment restricted at LK issuer level.

SRC-LK-010

Cross-border capital outflow via offshore platforms

FX-loss policy concern; residual CBSL exchange controls.

SRC-LK-010

Reliance on blocked card rails (MCC 7995)

Card-scheme gambling MCC treatment restricted at LK issuer level.

SRC-LK-010

British Columbia — Canada (province)Low

Cross-border capital outflow via offshore platforms

FX-loss policy concern; residual CBSL exchange controls.

SRC-LK-010

🇹🇼 TaiwanMedium

Card-scheme MCC exposure for gambling merchants

Selective MCC withdrawal documented.

SRC-TW-010

🇹🇼 TaiwanMedium

Correspondent banking for gambling flows

Emerging disruption pattern.

SRC-TW-010

🇹🇿 TanzaniaMedium

Thin formal PSP stack

Reliance on direct mobile-money integrations.

SRC-TZ-013

Tennessee — StateMedium

Offering credit-card deposits

Credit-card deposits are banned in Tennessee.

SRC-US-TN-003

🇺🇬 UgandaMedium

Heavy dependence on MTN/Airtel mobile money

Concentration risk and BoU suspension powers create single-point payment exposure.

SRC-UG-009

🇺🇦 UkraineMedium

UAH depreciation

EUR-denominated capital and fee estimates are unreliable.

SRC-UA-011

🇺🇦 UkraineMedium

High minimum statutory capital (~EUR 750k)

Significant upfront capital lock-up.

SRC-UA-003

🇬🇧 United KingdomMedium

Open-loop voucher funding

Flagged high-risk by UKGC.

SRC-GB-001

🇺🇾 UruguayMedium

Elevated offshore payment-channel risk

Offshore operators face payment friction given unlicensed posture.

SRC-UY-001

VermontMedium

Credit card funding statutorily banned

Operators must architect payment stacks to exclude credit rails or face sanctions

SRC-USVT-011

Virginia — StateMedium

Inadequate capitalisation/surety

Application requires demonstrated financial ability and bond.

SRC-US-VA-002

West Virginia — StateMedium

Crypto not accepted for gambling

Crypto-funded models have no approved pathway.

SRC-US-WV-005

🇿🇲 ZambiaMedium

Card MCC 7995 processing limited

Forces reliance on mobile money; card-based deposits constrained.

SRC-ZM-012

🇿🇲 ZambiaMedium

Mobile-money operator termination power (BoZ)

BoZ can direct mobile-money operators to cut unlicensed gambling flows.

SRC-ZM-012

🇧🇪 BelgiumLow

No credit/loans for stakes

Article 58 prohibition.

SRC-BE-004

Assuming card schemes block offshore gambling in BC

No confirmed card-scheme/PSP de-risking attributed to BC.

SRC-CA-BC-007

🇨🇲 CameroonLow

Mobile-money concentration (MTN/Orange)

Channel concentration creates dependency on a few PSPs.

SRC-CM-003

🇨🇦 Canada (Federal Overview)Low

Cross-border settlement assumptions

No formal capital controls but FINTRAC AML thresholds apply to casinos.

SRC-CA-008

Credit-card funding assumptions

Card funding is operator/issuer dependent; not guaranteed across all rails.

SRC-US-CO-009

MCC miscoding

MCC 7995 is functional for licensed operators; miscoding risks declines.

SRC-US-CO-009

Credit-card funding assumptions

Card funding is operator/issuer dependent; not guaranteed across all rails.

SRC-US-CO-009

MCC miscoding

MCC 7995 is functional for licensed operators; miscoding risks declines.

SRC-US-CO-009

Credit-card funding assumptions

Card funding is operator/issuer dependent; not guaranteed across all rails.

SRC-US-CO-009