Review: Unauthorized Online Casino Betify, its Payment Facilitators, and the Open Banking Issue!

Ben
Mon, 05 Aug 2024 08:31:46 +0000
Illegal gambling, Illegal Payment Services, Advabet, Altacore, Altacore Group, Altaprime, Betify, Binance Pay, Flexepin, Jeton, MiFinity, Neosurf, PayOp, Skrill Neteller, Tepemonte Media, utPay, Volt

While the main website of the Betify online casino, Betify.com, states Altacore N.V. has a Curacao license as an operator, various other Betify websites do not provide any information about the operators. Costa Rica is stated as the jurisdiction responsible for the terms and conditions. In our reviews at the beginning of August 2024, we discovered the Cyprus-registered Altaprime Limited as the payment processor for anonymous and illegal casino activities.

Short Betify Narrative

The Altacore Group, which operates approximately 20 online casinos, manages the Betify brand under a license issued in Curaçao and through its subsidiary, Altaprime Ltd, based in Cyprus. The group employs a common strategy in the online gambling industry by utilizing numerous additional domains and websites, which are operated anonymously alongside the main site, Betify.com. This approach allows casino operators to bypass even the minimal regulatory standards set by Curaçao.

The overall management of the Altacore Group is conducted by Altacore Holdings Ltd, located in Cyprus. The offshore license from Curaçao serves primarily as a superficial measure, providing a veneer of legitimacy while the group continues its operations with minimal regulatory oversight.

At the Cypriot entities of the Altacore Group with Adrese 5, Floor 4, Flat/Office 401, Atho 6, 1087 Agioi Omologites, Nicosia, Cyprus, the Cypriot Georgios Sofokleous apparently sits as trustee. He is also registered as an officer of other companies at this address.

Compliance Check

The Betify online casino scheme operates through multiple websites. The primary website, Betify.com, is managed by Altacore N.V., which holds an offshore license in Curaçao. Altaprime Ltd, a subsidiary of Altacore N.V., acts as the payment agent for Betify. These two legal entities oversee the operations of several other online casinos.

Similar to many other online gambling schemes, Betify utilizes various additional domains such as Betify.co and Betify1.co, where the operators are not clearly specified, unlike the main domain Betify.com. On these anonymously operated sites, Costa Rica is mentioned as the governing jurisdiction in the terms and conditions. Other online casinos under the Altacore umbrella follow a similar operational model.

Betify and the associated Altacore casinos accept players from all jurisdictions, including their funds. Our review indicates that payments are processed by Altaprime, which is based in Cyprus. This suggests that Altaprime is effectively the operator of these schemes. Despite this, Cypriot authorities do not appear to acknowledge this role.

From a compliance standpoint, the Curaçao license does not authorize the scheme to offer online casinos in EEA jurisdictions or the UK. Additionally, the anonymously operated websites are functioning illegally. Consequently, Betify and the entire Altacore Group warrant a red compliance flag.

Facilitating Payment Processors

In our review of Betify casino, we identified several familiar payment processors such as Jeton, MiFinity, and Binance Pay. Additionally, we discovered the use of open banking service providers, including Volt, Noda, PayOp, and the crypto payment facilitator utPay. These payment options and processors are accessible across all variants of the Betify platforms, including anonymously operated sites like Betify.do, Betify1.co, and Betify2.co. This raises concerns about the effectiveness of KYC (Know Your Customer) procedures or potential gross negligence in their implementation.

On the payment receipts, however, Altaprime Ltd is also stated as the recipient for the anonymous and completely license-free Betify casinos with the associated domain Betify.com even if the players are registered and play at Betify casinos in other domains. Apart from the fact that the Betify.com casino is also unlikely to acquire customers from the EEA or UK.

Players from Germany, Austria, Italy, and other EEA jurisdictions face no significant barriers in making deposits to Betify’s various casinos using their local banks. The extensive use of open banking by the operators facilitates this process. Open banking service providers also promote the benefit of no risk of chargebacks for merchants using their services, which is heavily leveraged by the casino operators.

Altacore Key Data

Trading names | Betify

Related brands

iWildCasino, Flappy, Windetta, Rollino,
Gamblezen, CosmicSlots, SpinsBro, SmokeAce

Business activity | Online casino and gambling operators
Status | Active

Domains

https://betify.com
https://betify.co
https://betify1.co
https://betify2.co
https://betify.partners

Legal entity

Altacore Holding Ltd
Altacore N.V.
Altaprime Limited

Jurisdictions | Curacao, Costa Rica, Cypurs
Authorization | No authorization found
Related individuals | not disclosed

Payment agents

Altaprime Limited
Tepemonte Media Limited
Advabet

Payment options

bank transfer, SEPA Instant, credit/debit card,
e-wallets, crypto

Payment Gateways | Noda, Volt, PayOp, utPay

Payment processors

flexepin, Paysafe Card
Jeton, Skrill, Neteller, MiFinity,
Binance Pay, NeoSurf

Compliance rating | Red

Share Information

We encourage anyone with knowledge about the Altacore, its online casino operations, its facilitators, or any related activities to come forward. Your information could be pivotal in understanding and exposing potentially illegal or unethical practices within this organization. Your contribution is vital in holding the key individuals accountable and safeguarding the integrity of online gaming and financial transactions.