A report published by responsible gambling body GAMRS has uncovered an extensive network of black market operators targeting UK customers.
The investigation focused on the conduct of Curaçao-based operator Santeda International BV and its Mystake.com brand.
GAMRS’ report, co-authored by DealMeOut CEO Jordan Lea, estimated that Santeda’s network was generating turnover of approximately £3.51bn per year.
From this revenue total, 64% was derived from the UK market, equivalent to £2.02bn, as per the report.
In addition to Mystake, other brands referenced in the investigation included Cosmobet, Velobet, Goldenbet and Rolletto.
The report stated: “In contrast to regulated firms operating within licensed markets, Santeda pays minimal tax in the offshore jurisdictions from which it operates. This allows the organisation to reinvest substantial sums, amounting to hundreds of millions of pounds, into aggressive consumer acquisition and retention strategies.
“Such financial muscle, combined with the absence of regulatory constraints, provides a significant competitive advantage over UK licensed operators, and contributes to the strengthening of Santeda’s position within the black market gambling ecosystem.”
Spiralled out of control
As part of the report, GAMRS obtained testimonies from 96 customers who had gambled with Santeda brands.
One individual said: “After losing my father, my gambling spiralled out of control. I signed up with Gamstop but started to receive offers from Mystake and Goldenbet casinos. I spent £49,300 in three days, taking out two large loans.
“Mystake didn’t care. Even after telling them I was an addict they just kept sending me more and more offers to bring me back in. They have ruined my life.”
The 96 respondents testified to losing a combined total of £241,152 gambling solely on the Mystake platform.
GAMRS estimated Mystake to be generating annual turnover of £1.2bn, roughly a third of Santeda’s overall figure, with UK players making up 64.8% of the platform’s global traffic.
Between August and October 2025, MyStake recorded 3.4 million visits, averaging 1.1 million visits per month.
UK users also exhibited the highest session intensity, with an average visit duration of 22 minutes 27 seconds and 14.93 pages per visit, “signalling deep, repeated gambling engagement entirely outside the UK regulatory perimeter”.
When contacted by GAMRS, several suppliers attested that Mystake was accessing their products through game aggregation services and acted quickly to request their removal .
Others claimed the games present on Mystake were either cloned or outside their control.
GAMRS also attested to identifying “extensive evidence” that black market operators are using affiliate marketing to target UK players.
Such campaigns are “often run through legitimate UK-based marketing agencies who are unaware their content is being used to drive UK consumers toward unlicensed gambling sites”.
Increasing consumer exposure
Within the report, GAMRS suggested that restrictive regulatory practices are driving players towards unlicenced operators.
The report continued: “In GAMRS’ assessment, migration to the black market is being accelerated by increasingly restrictive regulation in licensed markets. While regulatory intervention to reduce gambling harm is both necessary and desirable, current approaches are unintentionally strengthening the illegal market and increasing consumer exposure to unregulated, criminal operators.
“As taxation on gambling increases across regulated markets, driven by sustained lobbying and political pressure groups, combined with weak economic performance across Europe, licensed operators are increasingly being forced to re-evaluate their investment in marketing, bonuses, rewards and player incentives.
“Black market operators face no such constraints and are already capitalising on this imbalance. Further fiscal or regulatory pressure on the licensed sector will inevitably accelerate consumer migration toward illegal operators who offer significantly more attractive incentives, fewer restrictions and no consumer protections.
“Regulators and governments must now confront the likelihood that the current well-intentioned policy is in reality amplifying the very harm that it seeks to prevent.”
As part of the Autumn Budget, Chancellor Rachel Reeves announced an increase in the UK’s remote gaming duty from 21% to 40%.
General betting duty was also increased to 25%, from 15%, as part of a major reshaping of the UK’s gambling tax system.
EGR has reached out to MyStake for comment.
The post GAMRS investigation uncovers black market network generating £2bn in annual UK revenue first appeared on EGR Intel.
Responsible gambling body report reveals unlicensed brands operated by Santeda International BV systematically target British players
The post GAMRS investigation uncovers black market network generating £2bn in annual UK revenue first appeared on EGR Intel.