SBC News Voice of the Sports Betting Industry
Amid growing money-laundering concerns in the Isle of Man, the owner of the SBOTOP online sportsbook, Celton Manx, has been handed a £3,937,500 penalty from the Isle of Man Gambling Supervision Commission (GSC).
The company lacked evidence of proper risk assessments, ongoing customer monitoring, enhanced due diligence, and sufficient identity verification procedures. The investigation also found that it lacked in handling suspicious activity, performing technology risk reviews and training staff.
The news comes in the midst of wider regulatory difficulties for some firms based on the island. Most notably, Isle of Man-based TGP Europe recently called a close to its UK operations, with all 15 of its operators having put up a notice in May this year.
Prior to this, TGP Europe was operating SBOTOP in the UK via a white label agreement with fellow Isle of Man firm Celton Manx. TGP was subsequently issued a financial £3m penalty by the UKGC.
Just before TGP Europe’s collapse, Celton Manx surrendered its Isle of Man licence. The Isle of Man Gambling Supervision Commission (GSC) said at the time: “A licence holder may surrender their licence for various reasons and the GSC is unable to discuss individual circumstances in this regard.”
The following inspection of Celton’s customer files revealed multiple serious and, in some cases, systemic breaches of Section 19 of the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Act 2018.
However, the regulator has noted that the original penalty of £5,625,000 was discounted by 30% after the company undertook “comprehensive remediation” to address the issues.
A GSC statement read: “The Commission is satisfied that the imposition of the Civil Penalty on Celton Manx reflects the serious nature of the identified non-compliance and the issues and risks identified.
“It was further noted that Celton Manx acknowledged the serious shortcomings in its operational and governance arrangements at an early stage of the Commission’s investigation and thereupon had entered into settlement discussions with the Commission and sought to resolve matters expeditiously.”
The penalty may also cast a spotlight once again on SBOTOP’s partnership with Fulham FC. SBOTOP remains an official partner at the Premier League club, but it is not licensed by the UKGC following the TGP Europe shutdown.
A similar scenario has led to the regulator cautioning fellow top-flight sides Nottingham Forest and Crystal Palace over their relations with Kaiyun Sports.
Celton not alone as Isle of Man ups AML scrutiny
Another betting operator, SK IOM, has also received a £70,000 civil penalty after having breached the same code. SK IOM is headquartered in Douglas and operates the BetInvite domain name – and a statement seen on this website states that the bookmaker has ceased taking bets from 2 July 2025 onwards.
The investigation into SK IOM found that the company did not ensure that its Money Laundering Reporting Officer (MLRO) and AML/CFT Compliance Officer had the necessary seniority, expertise, competency or resources to properly fulfil their roles.
Another sample of customer files showed that the company failed to demonstrate effective monitoring and testing of AML/CFT compliance, and lacked appropriate policies to support these duties.
SK IOM’s Directors were also praised for their cooperation and willingness to settle the matter early. This resulted in the penalty being reduced from £100,000.
In response to rising concerns around money laundering and the impact this could have on the Isle of Man economy, the GSC is reviewing its licensing and supervisory procedures. Government officials have also hinted at a possible tightening of AML rules across the gaming sector later in 2025.
In May 2025, the GSC’s register listed around 80 active online gambling licensees, along with a few land-based bookmakers and casino operators, making the sector a major contributor to the island’s economy – yet also a potential vulnerability if AML safeguards fail.
The Isle of Man Constabulary also reported in June that there are 10 current international money laundering investigations, mostly linked to the e‑gaming sector, and an estimated £300m has been restrained across these operations.
Last year, the GSC also fined CyberHorizon Limited £140,000 for failures in customer risk assessment and due diligence in another early settlement.
The case highlighted deficiencies in record-keeping and technology risk management, suggesting that the company either lacked adequate systems or failed to use them effectively to meet AML/CFT standards.
Such investigations now put the Isle of Man’s standing as a reputable and well-regulated betting jurisdiction at risk, leading to demands for stricter regulations and greater transparency.
The Isle of Man government is also concerned of the international reach of East and Southeast Asian criminal networks targeting the island’s financial networks, particularly regarding the gambling sector.
It is mainly wary that its ‘well established’ extensive financial and gaming sectors are a strong target for exploitation.
