Earlier stories suggested it was under scrutiny for holding close links to illegal sites.
The Brussels Times, and later the Times of Malta, said the company had come under severe scrutiny during the Panama Papers investigation.
However, Betway has dismissed the accusations outright , claiming there has not been any communication from the Belgian regualtor.
Roger Parkes, Compliance and Regulatory Affairs Director at Betway Group, said in a statement: "There have been reports in the media that Betway has been sanctioned by the BGC. This is untrue.
"We have not received any communication from the BGC that this is the case. Betway is regulated in multiple jurisdictions and it fully discloses all required information to the relevant regulatory authorities in all of these jurisdictions."
