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Compliance Updates

Jeremie Kanter joins SBTech as Chief Compliance Officer

George Miller

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Jeremie Kanter joins SBTech as Chief Compliance Officer
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Highly experienced gaming executive hired to continue raising award-winning standards across new and existing markets

 

Leading sports betting and gaming technology supplier SBTech has hired highly experienced gaming executive Jeremie Kanter as its new Chief Compliance Officer.

Kanter has more than 14 years’ B2B and B2C experience in the gaming industry across senior compliance, regulatory affairs, product development and operational roles. He has spent most of his career with Playtech, including managing the company’s B2C and network services compliance function.

Based on the Isle of Man alongside, and reporting to, SBTech CEO Richard Carter, Kanter will be responsible for continuing to grow and maintain the high standards of compliance across SBTech’s global business including the wide range of new and existing markets in which it supplies its leading products and services.

As SBTech’s Chief Compliance Officer he will manage, enhance and implement new and existing tools, procedures and processes to ensure the sustainability of the business model across its entire product portfolio, engaging with international regulators to both strengthen and expand the company’s global regulated market presence.

Richard Carter, CEO, SBTech, said: “Jeremie is a fantastic addition to the senior team and I’m delighted to be able to bring hm on board. His experience in setting the highest standards possible, his meticulous approach to encouraging and implementing best practice and navigating some of the most complex issues in the industry will be vital as we continue to launch in newly regulated and regulating markets.”

Jeremie Kanter, Chief Compliance Officer, SBTech, said: “I’m thrilled to join SBTech and already know the team well following many years in the industry. SBTech already sets the benchmark when it comes to compliance and I’m looking forward to the challenge of raising those standards to an even higher level across the business’s leading technology, tools and processes.

“Compliance is an enabler to sustainably and significantly growing the business and achieving even more success, and I’m very excited with the plans the company has for the future.”

SBTech further strengthened its position as the leading provider of betting and gaming solutions in regulated markets by winning the prestigious Innovation of the Year prize at the Gambling Compliance Global Regulatory Awards 2018.

Recognising the most forward-thinking companies that are best prepared for the impact of new regulations, judges said the award was a credit to the work SBTech has carried out in implementing innovative processes to enhance compliance across regulated jurisdictions and its operator network.

 

About SBTech:

SBTech is a global leader in omni-channel sports betting and gaming, with more than 1,100 employees in nine offices worldwide. Since 2007, the group has developed the industry’s most powerful online sports betting and casino platform, serving licensees in more than 20 regulated markets.

SBTech’s clients include many of the world’s premier betting and gaming operators, state lotteries, land-based casinos, horse racing companies, and igaming start-ups. The group supplies highly flexible betting and gaming solutions to clients looking for exceptional configurability and the quickest route to market, complemented by proven business intelligence and reporting capabilities.

The SBTech offering includes its seamless sportsbook, Chameleon360 igaming platform, managed services, on-property sportsbook and omni-channel solutions that provide players with constant access to sports and casino products across all online, mobile and retail channels.

Supported up by unrivalled expertise in trading and risk management, acquisition and CRM, and the highest standards of regulatory compliance, SBTech’s partners consistently achieve rapid growth, enhanced brand loyalty and record revenues.  For more information, visit: www.sbtech.com

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Compliance Updates

EU Report Suggests Consumer Protection Approach to Tackle Loot Boxes

Niji Narayan

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EU Report Suggests Consumer Protection Approach to Tackle Loot Boxes
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A report commissioned by the EU Internal Market and Consumer Protection Committee has recently come to the conclusion that the EU should stop approaching loot boxes as a gambling issue and treat the practice as a consumer protection issue.

The report concludes that while the problematic practice can be dangerous due to the way that it can prey on obsession and addiction, especially in younger players, gambling can only be regulated on a country to country basis. This would leave the rule of law for loot boxes and gambling in gaming fragmented among the Member States that make up the EU as each country will be allowed to create there rules separate from the others.

“Since gambling is a national competence of the Member States, approaching the issue from this angle may lead to a fragmented market for video games within the EU… It is therefore recommended to tackle problematic game designs from a wider consumer protection perspective,” the report said.

As a result of this report, the recommendation has been made that loot boxes and problematic game designs be treated as a consumer protection issues, which the EU has the power to set standards for across all Member States. This conclusion comes from the risks that loot boxes can pose to vulnerable and younger players who either may build addictive behaviours, or not understand the true values of their purchases.

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Compliance Updates

Gaming Innovation Group receives CSIE license in New Jersey, USA

George Miller

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Gaming Innovation Group receives CSIE license in New Jersey, USA
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Gaming Innovation Group (GiG) is pleased to announce its subsidiary, iGaming Cloud Inc., has today been granted a permanent casino service industry enterprise license (CSIE) from the Division of Gaming Enforcement (DGE) in New Jersey, USA. The application was filed back in June 2018, and GiG has supported Hard Rock International’s casino operations in New Jersey under a so-called transactional waiver pending the final approval.

The license is granted for five years and gives GiG a permanent license to provide its real-money online casino platform solution to operators in the state of New Jersey.

Richard Brown, CEO of GiG says: “We are delighted to receive the CSIE license after a long and comprehensive process. This is a great achievement for GiG and gives us a solid confirmation that our platform, procedures and operations are meeting the highest standards out there.”

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Compliance Updates

Smarkets introduces betting exchange to Swedish market

George Miller

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Smarkets introduces betting exchange to Swedish market
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Betting exchange Smarkets has launched in Sweden after receiving approval from the national regulator. The London-headquartered company operates one of the world’s leading peer-to-peer platforms for trading on sport, politics and current affairs, and it is now available to users in Sweden at smarkets.com.

Smarkets will become the second licensed betting exchange in Sweden, where online gaming and betting operators reported revenues of SEK14bn (£1.2bn) in 2019, according to figures from regulator Spelinspektionen and the Swedish Tax Agency.

As well as its UK base, Smarkets also has offices in Los Angeles and Malta, and is one of the industry’s only operators to own its full technology stack.

Jason Trost, Smarkets CEO/Founder, said: “We know that customers in Sweden have been eagerly anticipating us going live, so I’m very excited to launch the Smarkets exchange there.

“I am confident that our market-leading prices and superior product will appeal to Swedish customers. The fact that we own our tech stack is one of the reasons we are able to offer the best pricing in the industry, and I’m really looking forward to growing our user base in Sweden.”

Sweden is the second new market in which Smarkets has recently launched. Whilst Swedish customers will be able to use the Smarkets betting exchange, the company also introduced its SBK sportsbook app to bettors in the US state of Colorado in June, and plans to release SBK in Indiana before the end of the year. Smarkets has been available to users in the UK and Ireland since 2010.

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