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Open Banking Can Change the Game in the Post-Credit-Card-Ban UK Gambling Industry

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The consequences of the upcoming ban on credit card gambling in the UK might bring more financial harm to the i-gaming industry and inconvenience to responsible players than good to problem gamblers who constitute roughly 1% of 24 million adults who gamble in Britain. Fortunately, the situation opens the window of opportunity for open-banking payments – even more convenient than cards and e-wallets and not as controversial.

The official rationale of the new restriction imposed by the Gambling Commission (UKGC) might create an erroneous impression that most players in the UK are addicted to gambling and place bets using credit cards. In reality, according to the UKGC’s data, only around 800,000 people in Britain use credit cards for gambling, and just about 22% of those who do are problem gamblers. In other words, the newly introduced regulation, meant to protect less than 180,000 adults from getting into debt by making it just slightly more complicated, will push the remaining 620,000 responsible players, who gamble on credit cards just for convenience and simplicity, towards alternatives.

As e-wallets are very well known and broadly used among players, one could conclude that e-wallet providers are the grand winners here. An increase in the demand could be a good reason for them to raise prices. But the UKGC must know very well that wallet apps can be easily used as proxies for credit card gambling, and thus further restrictions might be a matter of time. But there is a way for all – gaming companies, gamblers, and the regulator – to achieve their goals without causing harm to other parties in the ecosystem. This can be done through open banking.

Open banking enables initiating direct wire transfers between players and gaming companies without the need for the former to leave the latter’s website and fill a transfer order form. The transactions are bank secure as the authentication process is, in fact, on the bank. It’s quick, easy, and does not require any third-party apps. The payee gets a notification on the transaction status in real time, so credits or virtual tokens can be added to a user account instantly, which means no interference with the overall gambling experience. Furthermore, this approach does not allow the player to spend more money than they have on their bank account, so it mitigates the risk of getting into debt. On top of that, pay-outs are easier and cheaper to handle as they take only as much time and cost as a regular Bacs BACS transfer (plus a small technical processing fee). I believe this might be a perfect solution for responsible gamblers who appreciate the simplicity of credit card payments as well as for i-gaming companies willing to enhance their overall user experience.

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Problem gambling needs to be addressed, and people who suffer from gambling addiction as well as their families should be, surely, receiving appropriate support. Although, I don’t think the ban on credit card gambling could, in any way, be the form of support such people need. For the UK’s gambling industry and over 10.5 million online players, smooth open-banking payments can be a way to have a cake and eat it.

 

Straal is an international provider of payment, optimization and fraud prevention solutions for future-minded businesses. The company offers a comprehensive suite of products that make accepting digital payments easier, as well as more effective and secure. Straal enables accepting one-off and recurring payments carried out by customers with credit and debit cards of all major organizations, initiating transactions via open banking APIs, ordering SEPA Direct Debit cycles and more. Thanks to Straal, customers can pay in currencies of their choice (over 150 options), using their preferred desktop and mobile platforms, while merchants can effectively maximise their transaction approval rate and mitigate risk. Founded in 2017, the company is headquartered in Warsaw, Poland. www.straal.com

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Swintt journeys back through the sands of time in Egypt King Book Hunt

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Calling all treasure hunters, thrill seekers and intrepid explorers with a thirst for the unknown – this month, popular premium casino software provider, Swintt, is inviting you back on an epic journey through the sands of time in its action-packed slot, Egypt King Book Hunt.

Set to a backdrop of a long-forgotten temple where mystic relics abound, Egypt King Book Hunt is the third instalment of the popular SwinttPremium series and this time combines simple gameplay and classic graphics and sound with the studio’s much-loved “Book” free spins feature.

Activated whenever three or more of the iconic ‘Book’ symbols appear anywhere on the reels, players will first be prompted to leaf through the pages of an ancient tome until one icon is chosen at random to be the game’s lucky symbol, after which a series of 10 free spins will get underway.

During these bonus games, any instances of the lucky symbol that complete a payline will expand to fill their entire reel – and what’s more, payouts will be awarded for all winning combos regardless of whether the symbols are adjacent or not. On top of that, further free spins can be won for landing additional book symbols and players can even opt to buy into the feature directly.

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With Egypt King Book Hunt being available to play with 5 or 10 fixed paylines, players will be able to customise their experience to the level of variance that they’re most comfortable with and they’ll also have the chance to try and double any winnings they collect in an optional risk feature.

David Mann, Chief Executive Officer at Swintt, said: “The fact that the pyramids have stood for thousands of years is testament to them being a design classic – and we feel our Premium slots fall into much the same category! Combining iconic graphics and sound, intuitive gameplay and popular ‘Book’ free spins, we’re sure Egypt King Book Hunt will be a great addition.”

The post Swintt journeys back through the sands of time in Egypt King Book Hunt appeared first on European Gaming Industry News.

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7777 gaming partners with Relum

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Leading online casino game developer 7777 gaming has joined forces with Relum, a trusted casino engine, to deliver an unparalleled gaming experience to operators worldwide.

This collaboration enables 7777 gaming to bring its extensive portfolio of over 140 thrilling games to Relum’s network of esteemed operators across the globe. Through this integration, online casinos powered by Relum will gain instant access to 7777 gaming’s engaging and diverse selection of games, such as Cash 100, Barbarian, Candy Anyway, Sea of Treasure, Diamonds of Majesty, and Cash 20x. These immersive games promise an unparalleled gaming experience, combining cutting-edge technology with engaging narratives. .

Relum, a trusted name in the industry, has rapidly ascended to a leading position by developing a state-of-the-art casino aggregation platform. The platform provides instant access to a vast array of games, boasting over 20,000 titles from more than 240 content providers through a single API integration and toolbox such as free round, jackpots, tournaments and partner success service to support player engagement and revenue growth opportunities.

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Elena Shaterova, Chief Commercial Officer at 7777 gaming, shared her enthusiasm about the partnership: “Our goal at 7777 gaming has always been to set new standards in the gaming industry. Collaborating with Relum allows us to showcase our commitment to innovation and excellence. We look forward to a successful partnership that will satisfy the players’ requirements for next level of entertainment in any online casino.”

Ashot Sahakyan, Chief Operating Officer at Relum said: “Relum is committed to providing our operators with the most diverse and engaging content available in the market. 7777 gaming’s portfolio perfectly aligns with our vision, and we are confident that this partnership will elevate the gaming experience for our clients and their players.”

This partnership exemplifies the commitment of both 7777 gaming and Relum to delivering top-tier gaming solutions and reinforces their positions as leaders in the online casino industry.

The post 7777 gaming partners with Relum appeared first on European Gaming Industry News.

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Atlas-IAC Unveils Transformation to Atlaslive

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In May 2024, Atlas-IAC underwent a rebranding, resulting in a change of name and company design to Atlaslive, the dynamic iGaming platform. These changes were developed in collaboration with the Banda agency.

The main objective of the rebranding was to communicate the internal transformations as Atlaslive experiences rapid growth and continuous technological advancement, while also capturing the dynamic nature of the iGaming market.

In today’s world, technology is not stagnant; rather, it embodies an ongoing process of evolution that resonates with the dynamism of our surroundings. This philosophy underscores the transition from Atlas-IAC to Atlaslive. The best tech is — the more it looks alive. That’s why the company decided to embrace the concept of “live”. The descriptor of the company further reinforces this notion, emphasizing its evolution into a dynamic iGaming platform.

As a globally recognized leader in providing high-quality solutions for the iGaming industry, Atlaslive is set to redefine the landscape with its innovative technology and unwavering dedication to excellence. Maxim Slobodyanyuk, CEO of Atlaslive, said:

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We are thrilled to introduce Atlaslive. The best tech is live tech. The success of any tech is the quality of connections between people. Our tech is a living entity, not static code. Imagine technology that breathes with the world, evolves, expands, changes, reacts, and adapts to deliver the best results possible. All of this is embodied in Atlaslive.”

The company’s CEO added: “Our rebranding signifies a pivotal moment in our journey as we evolve alongside our global partners. Our strategy revolves around leadership in the iGaming industry, expanding our solutions to enhance the iGaming experience, making it more effective, profitable, responsible, and intelligent. Atlaslive is a dynamic iGaming platform that delivers unparalleled results and enriches every interaction.”

With a focus on trustworthiness, scalability, customization, adaptiveness, sustainability, and security, Atlaslive is poised to set new benchmarks in the iGaming industry and beyond. Experience the impulse of innovation with Atlaslive.

About the company

Atlaslive embarked on creating a multifunctional and automated platform designed to optimize the workflow of sports betting and casino operators. Opportunities  of the Atlaslive Platform include Sportsbook, Casino, Bonus Engine, Payment Systems, Risk management and Fraud Prevention tools, Retail module,  Business Analytics, CRM and CMS. Atlaslive is recognized as one of the leading  Sportsbook Platforms and the absolute winner in both the “Best Sports Betting Provider” and “Rising Star in Sports Betting Technology” categories for Central and Eastern Europe. Follow Atlaslive on LinkedIn to stay updated on the company’s latest news.

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The post Atlas-IAC Unveils Transformation to Atlaslive appeared first on European Gaming Industry News.

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