Compliance Updates
BonusFinder granted Colorado license ahead of 1st May opening
Fourth US state license for player-centric affiliate in less than a year
Bonusfinder.com has been granted a license to operate in Colorado ahead of the state regulating sports betting next month – its fourth US affiliate license in less than a year.
Founded in 2019 with a vision to transform how the affiliate sector creates, captures and converts traffic into profitable returning customers, with a player-centric and brand-driven approach, BonusFinder.com has made huge in-roads in the rapidly growing US market.
The company’s new Colorado license marks its fourth approval in less than a year with existing state licenses in New Jersey, Pennsylvania and Indiana with each market showing rapid growth since launch.
The Centennial state of Colorado will become one of the most open markets in the US next month allowing over 30 casino operators to offer land-based and mobile sports betting to its six million residents.
BonusFinder.com is a finalist in the Affiliate of the Year category at this year’s EGR North America Awards.
Fintan Costello, Managing Director, Bonusfinder.com, said: “We’re thrilled to be launching our fourth stateside offering, presenting Colorado’s keen sports bettors with the best options possible before they commit to opening a new online betting account.
“Our aim is to help players ‘play with more’ within a safe environment. We are very much in favor of regulation and we’re delighted to have made such progress in four progressive and rapidly growing state markets.
“Our core principles are built on a common sense approach to regulation that involve honest and open conversations between regulators, operators, affiliates and players, and this is precisely the approach many US state regulators are taking.”
Last month research carried out by BonusFinder.com monitoring the US market since the closure of major land-based gaming venues and cancellation of live sport uncovered a 100% rise in internet searches for ‘online casino’ across North America.
The research was carried out using Google Trends from February to the end of March this year and uncovered a sharp spike in players searching for ‘online casino’ following land-based venues switching off slot machines and sports events being rescheduled.
The tipping point came on 12th March when more US players searched for ‘online casino’ than ‘sports betting’ with numbers doubling in the following two weeks.
Since the repeal of PASPA in August 2018, 17 US states have regulated sports betting with only five, including Delaware, Michigan, Nevada, New Jersey and Pennsylvania opening up igaming.
Leading sportsbook technology provider ready to deliver premium virtual sports offering to local operators
Altenar has achieved a significant milestone in its LatAm expansion by securing a new certification to offer sportsbook and RGS, including virtual sports in Brazil.
This development underscores Altenar’s commitment to providing cutting-edge and engaging sportsbook solutions in regulated markets, and follows a string of landmark deals with industry leaders, such as Inspired, Kiron, Leap and Sportradar.
To achieve the certification, Altenar underwent a thorough evaluation process, demonstrating the provider’s dedication to compliance and its ability to meet the stringent requirements of the Brazilian market.
The integration of virtual sports from renowned providers will further enhance Altenar’s comprehensive platform, offering a dynamic and exciting vertical for Brazilian players that can be enjoyed 24/7.
Dinos Doxiadis, Director of Product – Sportsbook and Data at Altenar, said: “We are thrilled to achieve certification for virtual sports in Brazil. This marks another significant step in our growth across Latin America and reinforces our commitment to the burgeoning region.
“By joining forces with some of the industry’s most renowned providers, we are confident in our ability to deliver an unparalleled virtual sports experience to operators and players in Brazil. This offering will complement our existing sportsbook solutions and provide further opportunities for engagement and growth in this key market.”
The post Altenar gains ground in Brazil with virtual sports certification appeared first on Gaming and Gambling Industry in the Americas.
The Dutch Gaming Authority (KSA) has warned 711 BV, a provider of online games of chance, for showing gambling ads on a website aimed at minors. The warning followed a report from a parent who saw an advertising banner from 711 on a website linked to homework assignments from primary schools.
By law, gambling providers are not allowed to advertise to vulnerable groups, including minors. This form of advertising is considered by the KSA to be very harmful and therefore a serious violation. Taking action against such advertising and taking extra care to protect minors and young adults will be a priority for the KSA in 2025.
The 711 advertising campaign was carried out by an external partner. This party placed banners on various websites, including sites that are (partly) aimed at minors. In a conversation with the KSA, 711 indicated that it had already discovered this itself after an internal investigation and had taken measures to prevent recurrence. The provider did not report this, but should have done so: licensees are obliged to inform the KSA of errors on their part that could pose a danger to consumers.
The KSA dealt with the violation with a warning, because 711 itself had discovered and ended the violation and taken measures to prevent recurrence.
The post Dutch Regulator Issues Warning to 711 BV appeared first on European Gaming Industry News.
The UK Gambling Commission (UKGC) has issued a warning to operators, reminding them that failure to submit regulatory returns on time may lead to penalties and further enforcement actions.
The warning follows a spate of fines against operators who have failed to submit a regulatory return in the required timeframes for each type of activity for which they hold a licence.
Since October more than ten businesses have been fined up to £750 for not correctly completing and submitting regulatory returns within the required timeframe.
John Pierce, Commission Director of Enforcement, said: “Despite early engagement and the issuing of advice notices, further failures to comply with the regulatory returns process were identified in these cases. Operators are expected to understand their reporting obligations and must ensure returns are submitted on time via our online portal.”
“Repeated breaches and persistent non-compliance is likely to result in escalating enforcement action.”
On 1 July 2024, Licence Condition 15.3.1 – General and regulatory returns of the Licence Conditions Codes of Practice was updated to require all licensees to submit regulatory returns on a quarterly basis replacing the previous annual basis.
The next quarterly returns are due by 28 April 2025 and can be submitted via the eServices digital service on the UKGC’s website.
The post UKGC Warns Operators Over Late Regulatory Returns appeared first on European Gaming Industry News.
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