The group behind MyStake, thought to be one of the most-used black market bookmakers among British customers, is moving its brands to a new offshore licence.
The group behind MyStake, thought to be one of the most-used black market operators among British customers, is moving its brands to a new offshore licence following recent scrutiny.
The sites, which include unregulated brands thought to target the UK like Velobet, Donbet, Goldenbet and MyStake, were previously all licensed in Curaçao through an entity called Santeda International B.V.
However, the footer of their websites now instead lists a company called GTW B.V, which holds a B2C licence that the Curaçao register says was granted in June and expired last December.
Jordan Lea, GAMRS chief executive, told NEXT.io: “Changing licence is a common tactic in the black market ecosystem, where regulatory pressure or consumer redress becomes a problem, black market providers simply wipe the slate clean.
“Our report in December shone a light on the operations, and we won’t allow it to disappear into the shadows of regulatory obscurity.”
NEXT.io understands this apparently expired licence allows the company to operate under the same set-up used by Santeda, with the company legally being able to trade ahead of a formal renewal, according to Curaçao law.
It follows media attention towards the black market brand following the publication of a GAMRS investigative report last year, first reported by NEXT.io.
This also included a Guardian investigation from around the same period, which outlined the extent of the network and its lack of safeguards.
This report suggested punters – the majority of whom were British – bet £1.2bn with MyStake and £3.51bn across the wider Santeda network in 2025.
NEXT.io understands a well-known corporate services provider in Curaçao has been handling the move to a new licence.
Santeda brands have historically used affiliates using the not-on-Gamstop phrase to advertise the site, which primarily appeals to self-excluded problem gamblers looking to use websites not registered with the platform.
The sites also lack consumer protections, regulatory oversight and the safeguards against excessive play that are found with licensed operators.
GAMRS has launched a dedicated whistleblower project that has gathered payment histories, customer service transcripts, marketing records and gameplay data from consumers who had used the unregulated gambling network.
The organisation said the evidence revealed a pattern of aggressive retention tactics, refusal to honour self-exclusion requests and marketing targeted towards individuals attempting to block gambling.