Review: Unauthorized Online Casino Betify, Its Payment Facilitators, and the Open Banking Problem

The main Betify online casino website, Betify.com, identifies Altacore N.V. as the licensed operator under a Curaçao gambling license. However, several related Betify domains provide no clear operator details at all. Instead, Costa Rica is referenced as the jurisdiction governing the platform’s terms and conditions. During reviews conducted in early August 2024, investigators identified the Cyprus-based company Altaprime Limited as the payment processor behind these anonymous and potentially illegal casino operations.

Overview of the Betify Structure

The Altacore Group reportedly controls around 20 online casino brands and operates the Betify platform through a Curaçao license issued to Altacore N.V. The payment infrastructure is allegedly handled through its Cyprus subsidiary, Altaprime Ltd.

Like many offshore gambling groups, Altacore relies on a network of additional domains operating alongside the main Betify.com website. These mirror domains are frequently run anonymously, allowing the operators to avoid even the limited compliance requirements associated with Curaçao licensing.

Corporate oversight of the group appears to be conducted by Altacore Holdings Ltd, headquartered in Cyprus. The Curaçao authorization effectively functions as a formal cover while operational control and payment processing are carried out through other entities with limited transparency and regulatory accountability.

The Cypriot companies connected to the Altacore structure are registered at:

Adrese 5, Floor 4, Flat/Office 401, Atho 6, 1087 Agioi Omologites, Nicosia, Cyprus

At this address, Cypriot national Georgios Sofokleous reportedly acts as trustee and is also listed as an officer for additional companies registered at the same location.

Compliance Review

The Betify casino network operates through multiple interconnected domains. The primary platform, Betify.com, is managed by Altacore N.V., which holds a Curaçao offshore gambling license. Altaprime Ltd functions as the designated payment agent for the operation. Together, these entities appear to supervise a wider portfolio of online casino brands.

As with many offshore casino schemes, Betify also utilizes secondary domains including:

• Betify.co
• Betify1.co
• Betify2.co

Unlike the main website, these domains do not clearly disclose the operating entity. Instead, Costa Rica is referenced in the legal documentation as the governing jurisdiction. Other casinos connected to the Altacore ecosystem reportedly follow the same structure.

Anonymous Operations and Regulatory Concerns

The Betify casinos appear to accept players and deposits from virtually all jurisdictions without meaningful restrictions. Payment testing suggests that Altaprime Ltd, based in Cyprus, processes transactions for the network, effectively placing the company at the center of the operation despite the lack of official recognition by Cypriot regulators.

From a regulatory perspective, the Curaçao license does not permit the offering of gambling services within EEA member states or the UK. Furthermore, anonymously operated domains without transparent licensing information may be considered illegal in multiple jurisdictions.

As a result, Betify and the broader Altacore Group receive a red compliance rating.

Payment Facilitators and Open Banking Integration

During the review of the Betify casino network, several known payment processors and facilitators were identified, including:

• Jeton
• MiFinity
• Binance Pay
• Skrill
• Neteller
• NeoSurf
• Paysafe Card

Investigators also discovered extensive integration with open banking and alternative payment infrastructure providers, including:

• Volt
• Noda
• PayOp
• utPay

These payment methods are reportedly available across multiple Betify domains, including anonymously operated sites such as Betify.do, Betify1.co, and Betify2.co.

The widespread availability of these services raises substantial concerns regarding the effectiveness of KYC and AML controls, or alternatively, the possibility of serious compliance failures by the involved payment facilitators.

Altaprime Ltd Named as Payment Recipient

Payment receipts reviewed during the investigation identified Altaprime Ltd as the payment recipient, including for transactions linked to anonymous and effectively license-free Betify domains.

Even when players registered through alternative Betify domains, the payment flow allegedly routed funds to entities connected with Betify.com infrastructure.

The investigation further indicates that players located in:

• Germany
• Austria
• Italy
• other EEA jurisdictions

can deposit funds without significant restrictions using local banking systems.

The aggressive use of open banking technology appears to simplify these cross-border transactions. Many open banking providers actively market the reduced chargeback exposure for merchants, a feature that offshore gambling operators may heavily exploit.

Altacore Key Data

Share Information

Scam-Or Project encourages individuals with knowledge regarding Altacore, Betify, associated casino brands, payment facilitators, or related activities to share relevant information through the Scam-Or Project Complaints section.

Any insider details, payment documentation, compliance records, or operational information could contribute to a broader understanding of potentially unlawful or unethical practices connected to these offshore gambling operations.