The issue of “third-party payment processors” has been paramount for federal authorities when it comes to offshore sportsbooks with U.S. clients. As Gaming the Game readers know, the movement of “hot money” from these sportsbooks is its own fascinating story. ESPN.com’s David Purdum offers a significant update.
5Dimes, a popular Costa Rica-based sportsbook, has reached a $46.8 million settlement with the U.S. government following a federal money-laundering investigation, according to a settlement agreement obtained by ESPN on Wednesday.
5Dimes agreed to pay $15 million in cash, forfeit more than $30 million in assets and stop accepting wagers from U.S. customers while operating out of Costa Rica, according to the settlement agreement reached with the U.S. Attorney’s Office for the Eastern District of Pennsylvania.
Full article here.