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Latin America

BonusFinder report: Swedish government throwing away tax money

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The latest research from BonusFinder.com on Sweden’s iGaming crisis has revealed an acceleration in Swedes playing off-shore and a huge tax loss for the government – and all thanks to an overly burdensome regulatory structure that may yet be extended. The tax loss – at a conservative estimate around €46m for 2020 – would pay for a further 1,000 ICU nurses, 1,400 extra police, or in times of direst need pay for the salaries of a further 588 politicians.

Back in May 2020 the Swedish government reviewed its iGaming regulations, amid worries of an upsurge in gaming during the pandemic. The result was a weekly spend cap for gamblers, plus exceptionally tight rules on bonusing for new players.

Since then, Sweden’s gamblers have been exploring the temptations offered by unlicensed gambling sites with unregulated bonusing and no spend cap – and the trend is growing, with a domestic market unable to compete with their unrestrained rivals.

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Even in the short term, this has led to tens of millions of Euros in tax revenue lost by the Swedish state – and BonusFinder.com’s report contains some recommendations for the government to stop this loss and turn the industry around.

BonusFinder.com Managing Director Fintan Costello said of developments: “Over-regulation is not working, which ultimately exposes the most vulnerable players to danger.”

Gustaf Hoffstedt, Secretary General of Sweden’s gaming trade association Branschföreningen för Onlinespel (BOS), added: “BonusFinder’s new data show us an alarming development on search words on Google aimed for unlicensed gambling in Sweden. This is something the regulator together with the industry should pay much more attention to.”

You can read the BonusFinder report here.

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Aviatrix

Aviatrix and Vibra Solutions Agree Partnership with Focus on Latin America

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Aviatrix, the crash game that’s changing the way online casinos engage their players, has partnered with platform provider Vibra Solutions in yet another move that expands its reach in Latin America.

Aviatrix’s push into Latin America has really picked up pace over recent months and that continues with this deal.

Vibra Gaming has established itself as a major player in the region since it was founded in 2020 and later with the launch of Vibra Solutions in 2022, its platforms and content aggregation division. Now operators using its platform will be able to offer customers Aviatrix.

“We’ve long admired the fantastic work Vibra Solutions is doing in growing our industry across Latin America via innovative product development,” the Latin America Head of Business Development for Aviatrix, Gabriela Novello, said. “By working alongside it, we’re able to bring Aviatrix to more players in the region and together write a new chapter in this ongoing growth story.”

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“Our commitment to our operator partners is to provide the very best portfolio of games available,” the Chief Commercial Officer for Vibra Solutions, Federico Saini, said. “Some of those we build ourselves but others we onboard via partnerships like this. Aviatrix is one of the most talked about games in the industry at the moment and we couldn’t be happier to be able to offer it to online brands via our platform.”

Aviatrix’s has enjoyed considerable success in Latin America since it was launched a little over a year ago including being named Rising Star in Casino at the SBC Awards LatinoAmerica.

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Brazil

PG Soft Set to Sponsor Key SiGMA Americas Event

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PG Soft, a world-class digital mobile games company, is proud to announce its sponsorship of SiGMA Americas set to take place in Sao Paulo, Brazil, from April 23 to 25. The important iGaming event is being hosted at the Transamerica Expo Center.

As a leading event sponsor, PG Soft will benefit from prominent branding opportunities including the PG Soft logo printed on staff shirts and an exclusive PG Soft logo and video content at the registration table.

This commitment highlights PG Soft’s ambition to amplify its presence in Latin America, particularly the Brazilian market. Before expanding into the jurisdiction, PG Soft completed an in-depth research and analysis project for a true understanding of the local players’ preferences, which included consumer behaviour, purchasing habits and regulatory requirements.

PG Soft has been working on developing bespoke and localised games tailored specifically for the Brazilian audience.

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“Brazil represents a wonderful opportunity for PG Soft and we’re proud to partner with SiGMA Americas for this influential iGaming gathering,” a spokesperson for PG Soft said. “We place huge importance on producing localised content, features and promotions that not only align with Brazilian player preferences, but also meet the regulatory requirements.”

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Latin America

OKTO to Exhibit its Cutting-edge Payment Solutions at SiGMA Americas

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OKTO is poised to unveil its latest payment innovations in Brazil and across Latin America at Sigma Americas, inviting partners and industry peers to join OKTO’s booth J50 from April 23 to 25. Renowned for its commitment to revolutionizing the payment landscape, OKTO will showcase a complete suite of payment and financial solutions designed to enhance user experience and convenience with instant pay-ins and payouts capabilities.

At the core of the showcase will be OKTO’s comprehensive array of tailored solutions addressing the diverse needs of gaming operators in the region, including cutting-edge Advanced Banking Solutions. OKTO’s banking solutions offer seamless fund transfers and robust financial advisory services, ensuring operational efficiency and regulatory compliance. In addition, attendees can experience firsthand OKTO’s innovative eFX services, providing access to competitive foreign exchange rates for gaming operators to manage currency conversions effortlessly, minimizing currency-related risks.

Stealing the spotlight for Brazil is OKTO’s latest offering – Pix Direct & Pay And Play, showcasing seamless functionalities in the realm of open banking. Pay and Play simplifies user onboarding and transaction processing by integrating payment initiation with instant user verification, leading to accelerated player registration, heightened engagement, and retention rates. PIX Direct caters specifically to the Brazilian market, offering a streamlined payment experience through Brazil’s instant payment system, Pix, ensuring fast and secure transactions.

As part of the display will be OKTO’s KYC as a Service, streamlining the Know Your Customer (KYC) process for gaming operators, enhancing operational efficiency and compliance.

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A highlight of OKTO’s booth is its payment orchestration service, specially crafted for the dynamic LatAm regions. This service underscores OKTO’s focus on powerful paytech, unlocking seamless and instant pay-ins and payouts via a single integration across multiple regions, backed by diverse local payment methods, addressing the varied payment needs of the Latin American market.

Exhibition attendees are in for a treat with live demo sessions featuring all OKTO services together with company’s advanced eVoucher payment method OKTO.CASH and the user-friendly online wallet solution, OKTO.WALLET. The wallet is specifically optimized for igaming users, ensuring a secure and effortless platform for managing funds both in and out.

Leonardo Chaves, Country Manager at OKTO, said: “Our dedication to offering compliant, instant and user-friendly payment solutions for both deposits and withdrawals, ensuring a seamless experience for both users and merchants, remains steadfast. We look forward to welcoming partners, clients, and industry experts and friends to our booth, where our team will be available to discuss our customized services designed specifically for Brazil and Latin America.”

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