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Compliance Updates

Gaming Innovation Group awarded new Swedish software licence

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Gaming Innovation Group (GiG) has been awarded a full licence as a gambling software provider for its award winning platform in Sweden by the Swedish Gaming Authority, Spelinspektionen.

The announcement follows recent changes in the local regulatory framework due to come into effect on 01 July 2023, that requires all B2B software providers operating in the Swedish market to licence their technology in accordance with the updated legislation.

GiG continues to enjoy a strong connection with the region, being listed on NASDAQ Stockholm and having been present in the Swedish regulated market ever since the market launched as a leading platform provider powering Suprnation, Lucky Days and Betsson’s Zecure brands, amongst its partners in the Sweden.

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As a leading platform and sportsbook provider, the licence helps affirm GiG’s commitment to expansion in regulated markets globally, with licences in over 29 complex regulated markets worldwide, and a further 8 on the way.

Sweden is one of the most lucrative markets in Europe for online gambling, with an estimated revenue of around €1.5 billion in 2022, representing an annual growth of 6% from the previous year, driven by expansion in the online casino and sports betting verticals.

Claudio Caruana, General Counsel for GiG says; “As regulators continue to build more robust requirements on industry suppliers and operators, we will continue to dedicate our resources to ensuring that the development of our technology and procedures places us at the forefront on matters of compliance.”

Marcel Elfersy, Chief Commercial Officer at GiG added; “We have been an active presence in Sweden for many years, with the company having its origins in the region, and we have a deep understanding of the needs of operators in the local market. Our platform and sportsbook are well suited to the increasingly complex regulatory environments there and we look forward to continuing to help power sustainable growth in Sweden with our depth of experience, leading software and dedicated, localised service.”

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Compliance Updates

eGaming Integrity Launches to Enhance Compliance for OGRA Licence Holders and CSPs

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We proudly announce the official launch of eGaming Integrity, a specialised compliance services provider exclusively dedicated to protecting OGRA licence holders and the CSPs that support them.

Our mission is to enable online gambling operators, and the CSPs that support them, with the tools they need to thrive in the Isle of Man, ensuring integrity, transparency, and adherence to industry standards.

The Isle of Man eGaming sector continues to grow at a rapid pace, with the number of OGRA licensees more than doubling in recent years. With the sector having grown so quickly, it has led to a shortage of highly qualified, well trained, and egaming experienced compliance and AML professionals locally. This skills shortage presents a significant challenge for online gambling operators licensed here.

With our team of industry experts and former regulators, eGaming Integrity enables businesses to remain compliant with the stringent regulatory requirements under the Isle of Man licence through our tailored services which include mock audits, remediation, and internal audits.

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Speaking about the requirement for such services, Emma Shilling, eGaming Integrity director said “licensed online gambling operators and local Corporate Service Providers have been looking for a credible provider to offer specialist services beyond day-to-day compliance. We’ve already helped several CSPs navigate the sector in previous roles, where eGaming isn’t always the primary area of expertise so businesses have sought our experience and industry knowledge to help them service their clients more effectively.”

Fellow director, Nick Bowden added “our in-depth evaluations prepare operators for regulatory visits, remediation support to bring businesses back into good standing with the regulator, and independent assurance makes sure risk management, governance and internal control processes are operating effectively.

eGaming Integrity are now working with a number of OGRA licence holders and local CSPs, providing customised compliance and regulatory advisory services that align with business objectives and operational intricacies.

The post eGaming Integrity Launches to Enhance Compliance for OGRA Licence Holders and CSPs appeared first on European Gaming Industry News.

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Australia Enforces Credit Card Ban for Online Gambling

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Australia has enforced an online gambling credit card ban, meaning that players can no longer use them as a payment method.

Responsible Wagering Australia (RWA) and its members have been strong supporters of this measure and have worked with the Commonwealth Government and the financial services industry since 2021 to deliver this credit card ban.

Responsible Wagering Australia CEO Kai Cantwell said that this change was much needed, as Australians should only be gambling with money that they have.

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“This is an important measure to protect customers, making it easier for people to stay in control of their own gambling behaviour,” Mr Cantwell said.

“It will complement the existing offering of safer gambling account management tools by RWA members.

“RWA and its members support the extension of this measure to all forms of gambling that have been exempted from the ban such as lotteries and keno.

“If consumer protection measures aren’t consistent across all forms of gambling it will incentivise vulnerable Australians to move to less-regulated types of gambling, where they are more at risk of harm.”

RWA members provide a range of tools to ensure people can gamble safely, many of which have been adopted by the Commonwealth Government as part of the National Consumer Protection Framework (NCPF).

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“The NCPF is expected to be evaluated shortly and we look forward to engaging in this process to ensure that consumer protection tools are fit-for-purpose and support a safe and sustainable regulated gambling environment,” Mr Cantwell said.

The post Australia Enforces Credit Card Ban for Online Gambling appeared first on European Gaming Industry News.

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Compliance Updates

Ukraine Regulator KRAIL Blocks 371 Illegal Gambling Sites

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The Ukrainian Commission for the Regulation of Gambling and Lotteries (KRAIL) has announced that it has blocked 371 unlicensed gambling websites. It said joint action with the security service led to the issue of Order No. 451/2256, which instructs service providers to block the domains using Domain Name System (DNS) servers.

KRAIL said that during April and May it issued 1000 orders to limit access to domain names and subdomains.

While KRAIL remains operational, Ukraine’s parliament voted in April to disband the regulator. There had been criticism of the regulator’s collegial structure, which requires at least five of its six members to be present for meetings to be valid. Amid disruption caused by military service following the Russian invasion, this has often led to meetings being cancelled and long delays for licence applications.

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There will be a second reading of the bill before it can be signed by President Volodymyr Zelenskyy. The liquidation of KRAIL would put gambling regulation under the digital transformation ministry until a new regulator is established.

The post Ukraine Regulator KRAIL Blocks 371 Illegal Gambling Sites appeared first on European Gaming Industry News.

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