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Compliance Updates

LEC Introduces Sporting Financial Regulations

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To support the long-term financial stability and competitive balance of the LEC, the league is going to introduce new financial regulations – known as Sporting Financial Regulations (SFR) – for the start of the 2024 LoL Esports Season.

The LEC SFR will encourage teams to maintain the total sum of its five highest-paid player salaries below a certain threshold, with teams exceeding the threshold having to pay an excess fee (SFR Fee).

In doing so, the LEC seeks to create a financially sustainable environment for its pro players, partnered teams, and the league itself, allowing all parties to grow at a healthy and scalable pace, and protect the ecosystem from unsustainable spending practices. In addition, the framework will support the league by creating a better competitive balance and more engaging competition, further enhancing the experience for players and fans.

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“In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole. The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come,” said Maximilian Peter Schmidt, Director of League of Legends Esports EMEA.

SFR will encourage each team to maintain the total sum of salaries (known as SFR Spend) paid to the top five highest-paid players in a team within a certain range. The range includes both an upper spending threshold (SFR Threshold) and a lower spending threshold (SFR Floor), with the lower spending threshold amounting to 50% of the SFR Threshold. Meanwhile, the SFR Threshold is calculated based on a number of considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee.

An exception will be made to teams if a player enters into a contract with the team either during or before the end of the 2023 LEC Season Finals. In this instance, the SFR Spend will be reduced by one-fifth of the SFR Threshold or the actual salary amount; whichever is lower.

The policy will be introduced starting from the 2024 LEC Global Contract Start Date (21 November 2023), with the first cycle running until the 2024 LEC Global Contract End Date (18 November 2024).

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Compliance Updates

KSA: Fine of €734,000 Imposed for Breach of Duty of Care

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The Dutch Gambling Authority (KSA) has for the first time imposed a fine of €734,000 on one of its licensees because the company failed to adequately protect young adults against excessive gambling and gambling addiction.

Gambling companies have a duty of care and must protect players as much as possible against excessive gambling and gambling addiction. According to the KSA, the provider in question has not sufficiently complied with this duty of care and will be fined for this.

The KSA started an investigation after signals about large losses suffered by young adults. In this investigation, a selection of 10 of the player files with the largest losses were examined at the provider, whereby violations were found in all files. These were young adult players (18 to 23 years old) who gambled away tens of thousands of euros in often a relatively short period of time.

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Michel Groothuizen, chairman of the board of the KSA, said: “We have a licensed gambling market based on the idea that anyone who wants to gamble can do so safely. That is why providers have a duty of care towards their players and must respond adequately to excessive gaming. Major losses are an important signal of that. We have intensified our supervision of the online duty of care and we take tough action against violations such as those we find here, because we really do not want to see providers continue to fail in their duty of care, especially for vulnerable young players.”

The post KSA: Fine of €734,000 Imposed for Breach of Duty of Care appeared first on European Gaming Industry News.

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Aviatrix granted certification in Estonia

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Aviatrix has received certification to offer its award-winning crash game to operators in Estonia.

It marks the latest regulated market that Aviatrix has entered into, with the game already live in the country with leading brand FenixBet.

Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “Securing certification in Estonia is another exciting step forward for Aviatrix as we continue to expand into regulated markets. We’re thrilled to already be live with FenixBet and look forward to delivering our innovative crash game experience to even more players in the country.”

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Aviatrix has added a host of regulated markets over recent months, including Spain, Colombia, Brazil and Peru.

It underlines the team’s commitment to bringing the game to players around the world.

Aviatrix is a constantly evolving game, with regular feature updates for partners, including the recent launch of free bets, now available through in-game promo codes.

The post Aviatrix granted certification in Estonia appeared first on European Gaming Industry News.

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Compliance Updates

Playbook Fusion secures UK Gambling Commission licence

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Playbook Fusion has been awarded a supplier licence from the UK Gambling Commission, granting it access to one of the most significant online betting markets in the world.

The approval means Playbook Fusion can offer its flagship Playbook Football™ title to UK-licensed operators for the first time, building yet more momentum behind the rising star studio.

Playbook Fusion made its debut in June 2024 with a mission to bring never-seen-before sports gaming content to the market.

This is done by enabling the worlds of sports betting and mobile/video gaming to collide in an entirely new genre of immersive sports-themed games.

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Playbook Fusion’s unique wagering experience is showcased through Playbook Football™, a football strategy betting game where players build their own teams, compete in matches, earn rewards and climb divisions while placing bets.

UK operators who have an RGS integration with Games Global will be able to get first access to Playbook Football™.

Steve RogersFounder and CEO of Playbook Fusion, said: “Securing our licence from the UK Gambling Commission is a key moment for Playbook Fusion, granting us access to one of the most established online gambling markets in the world. 

“Being able to satisfy the stringent criteria set out by the UKGC is a testament to the strength of the team which we have built at Playbook Fusion and, to achieve this milestone within such a short time period, is an accomplishment that we’re incredibly proud of. “

The post Playbook Fusion secures UK Gambling Commission licence appeared first on European Gaming Industry News.

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