Bonus Scam & CEO Peter Newsted Fired is Not True

The scam is busted by G2G

Content Writer, Vladimir

Last updated on 17th August 2022

Published: 20/02/2020

Categories: News

If you want a great bonus click “Play now” below. If you want to uncover the truth, please continue reading.

Update 10-9-2020: The fake article is still available but now they have changed the casino from LeoVegas to Europa Casino.

Update 5-5-2020: The fake article is still live and now features “personal interviews” with winners of the scam.

Update 17-03-2020: The fake news scam is still active in India however it features different bonus amounts.

Update 11-06-2019: I found out the same news article can be found at Scoops of Today. Depending on which article you’ve read, you will see different bonus amount advertised for the loophole.

G2G busts the CEO mistake news fraud

The latest in the chain of fake CEOs getting fired is non other than Europa Casino. If you haven’t red this article before allow me to fill you in.

A fake news article has been circulating on Indian websites since the beginning of 2019 claiming that a CEO of an online casino has made a huge mistake giving away several lakh to players all over India.

Sadly, this is not true. It is a complete lie that has been used on several casinos such as LeoVegas and Genesis.

So if you are looking for a Europa Casino India mistake, glitch, loophole, error or whatever else you want to call it I have to tell you, there is none.

As for the fired Europa Casino CEO – he is not fired and his name isn’t even Peter Newsted.

You can read the rest of the article below that was written in January to find exactly why it is a fraud.

Previous Fake News

The other day I found an article from Todays Post about the CEO of the online casino LeoVegas being fired. It was due to some kind of loophole in their Terms & Conditions which enabled Indian players to register a new account and get free credits.

The Swedish online casino had apparently lost 46 million Rupees due to the loophole.

But there was something fishy going on in that article. I and my team at G2G decided to take an in-depth look at the loophole ourselves. There was a lot of things which did not make sense.

First of all, the bonus offer is incorrectly written. The welcome bonus for new customers is Rs. 80,000 and not 30,000 as mentioned in the news article. Trust me, I have written a review of 3600 words about LeoVegas.

Second, the bonus terms and conditions are so unbelievably stupid that I just don’t buy it. No CEO or middle manager can be that stupid and miss it.

Third, this type of scam article is something the casino has been targetted before. Earlier in 2020, someone faked a Mega Moolah winner at the same casino.

Fourth, I have seen the EXACT same fake article saying the CEO of Genesis Casino was fired. because of a bonus loophole.

So, it’s time to get this straight once and for all, because I like the website and it’s a good casino & Sportsbook for Indian players. They constantly update their gaming offering for Indians and recently launched the widely popular card games Teen Patti & Andar Bahar.


Wtf is this!?

The original scam article at Todays Post suggests a bonus of Rs. 30,000. The truth is 80,000 which is visible as soon as you land on their website here.

Screenshot of the real Leovegas bonus March 2020
The screenshot was taken 5th of March 2020 of the welcome promotion

As you can see on the page, and the screenshot above, is that either if you choose the slot machine bonus or the live casino bonus you will redeem Rs. 80,000 extra money to gamble for. The welcome offer is divided into a 3-tiered ladder which means you must deposit 3 times to reveal the full bonus.

It surprised me to see how this article promised you Rs. 30,000 when making a minimum deposit, based on some kind of flaw in their Terms & Conditions.

The bonus T&C’s are really clear and it says that the casino will match the amount you choose to deposit. If you deposit Rs. 10,000 you’ll get 10,000 free credits to play for.

Another flaw in the scam article is how they have chosen to convert the minimum deposit amount. It says €10 converts to Rs. 800, which is true in its sense, but at the Swedish casino €10 converts to Rs. 1000. Another homework flaw by the author.

The biggest scam of it all is though how they choose to exemplify with a person named “Abdullah Khan” from Al Wakrah (which is a city in Qatar) who was playing with Indian Riyals. Indian… Riyals…?

Wtf is that!?

Obviously, the author of the loophole article must’ve been drunk when mixing up the currencies from India and Qatar.

Who is Peter Newsted?

In the loophole scam article they mention that the CEO of the casino, Peter Newsted got fired. When I did my research for the review I never saw his name among stakeholders or directors in the company. This was in February 2019 and now when I checked again (May 2020) I still could not find any traces about Peter Newsted.

So, nobody has been fired for presumptive loopholes. Neither in India, Canada or Qatar for that sake. Poor Peter.

However, below is a photo of the REAL CEO who is named Gustaf Hagman. Apart from being the CEO he also founded the company in 2011.

Gustaf Hagman CEO of LeoVegas
The real CEO of the Swedish online casino accused of fake Terms & Conditions.

Be careful what you read on the internet

I have experience from the online gambling industry and I have seen this type of fake news being published to promote casinos on the internet. Not only in India.

The reason why I started Guide2Gambling was just for this sake: to shed light on deceptive marketing methods and fraudulent behaviour.

Important to say is that the online casino had no clue about this article being published.

So why did Today Post write this article?

Well most likely because the author has signed up through a “refer a friend” system. So every time someone registers at the casino from his article he will earn money. I can’t tell for sure because I have not yet been able to get in contact with Todays Post. I commented on the article and sent an email. No response.

5 Steps to start playing with the real bonus offer

Now when I have busted the loophole bonus offer I want to show you how to start playing with the real promotion.

  1. Go to their website here and choose 1 out of 3 different bonuses: Casino bonus (for slots), Live Casino bonus (for Live Casino games) or Sports bonus (for sports betting).
  2. Fill in email, password & phone no. You will receive an OTP which you have to use in Step 4.
  3. Fill in your full name, address and date of birth. It is very important that you use your real details, otherwise, you will not be able to make a deposit. The name of your account must match the name of your Aadhar card.
  4.  Type in the OTP code.
  5. Wait 1 minute and your bonus will be activated. Now you can make a deposit of a minimum of Rs. 1000 to activate your free credits. The amount you deposit will be matched by 100%.

Good luck and welcome back to G2G where we continue to make online casino easy and transparent for Indian players!