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Compliance Updates

Leading Gaming Company Teams Up With The SMP Compliance Academy

George Miller

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Leading Gaming Company Teams Up With The SMP Compliance Academy
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Leading sportsbook and gaming platform provider FSB has partnered with the SMP Compliance Academy to strengthen the company’s compliance training program.

The SMP Compliance Academy, conceived, designed and written by SMP eGaming, is fast becoming the ‘go to’ compliance training portal for digital and land-based gambling professionals and operators.

Considered the industry’s tech leader, FSB offers a definitive sportsbook solution and trading tools which can be adapted according to any customer’s needs. Utilised by operators on four continents, its modern technology is designed for the demands of live betting and a fragmented regulatory landscape, providing light physical deployments worldwide backed by centralised control systems.

FSB provides partners with everything needed to run a responsible gaming business (from full reporting and social responsibility tools to payments and data analytics) helping customers drive revenue, reduce operating costs and maximise marketing ROI.

Ted Pepper, Director of SMP eGaming, said: ‘FSB is an ideal partner for us and has a superb reputation in the industry, we look forward to working with FSB to deliver best-in-class compliance training for their staff, via our bespoke Learning Management Software.

‘Our Compliance Academy provides a comprehensive compliance and regulatory training platform which meets the requirements of regulators and satisfies organisations’ wider compliance training needs for those operating within the licensed gaming sector.

‘We are delighted to team up with a respected name in the gaming industry and it’s a further strong endorsement of the work being undertaken by the Academy and the services we provide.’

Richard Thorp, Business Development Director at FSB, added: ‘The SMP Compliance Academy is an essential tool for professionals throughout the gaming industry and reflects an acute awareness of the growing need to stay fully informed of regulatory and compliance requirements.

‘The platform allows us to apply a risk-based approach to our training via its powerful analytical tools. The team at SMP eGaming clearly has a depth of industry knowledge and this alliance will be of great benefit to all.’

 

About The SMP Partners Group:

The SMP Partners Group is a leading independent trust and corporate services provider which has secured its position over the past three decades by offering a superior level of expertise combined with its focus on delivering results. With offices in the Bahamas, Cayman Islands, Hong Kong, Isle of Man, Malta and Switzerland, it also provides a full accountancy service, tax and VAT consultancy and compliance, fund administration, eGaming and eCommerce and an impressive portfolio of specialist services covering capital markets and yachts and aircraft. For more information please visit our website: www.smppartners.com

 

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Compliance Updates

MONEYVAL Criticises Malta for Failing to Act Against Financial Crimes

Niji Narayan

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MONEYVAL Criticises Malta for Failing to Act Against Financial Crimes
Photo Source: newstatesman.com
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Anti-money laundering body, MONEYVAL has sharply criticised Malta for inadequately tackling financial crimes, in a report highlighting the risks of banking and online gambling sectors. The report is a setback for the island that has sought to repair its reputation following the murder of a journalist investigating corruption.

Moneyval said that the Maltese police seldom used information gathered to trace criminal money and not enough was being done to tackle money laundering risks in online gambling.

A group of Maltese ministers issued a statement to say they were happy with the progress that the country had made so far and they would prepare a one-year plan to implement Moneyval’s 58 recommendations.

Moneyval said that although the country had tried to better understand money laundering risks, investigations were hampered by “limited resources, both human and financial.”

Moneyval added they were “not convinced” Maltese police could effectively investigate and prosecute “cases related to financial, bribery and corruption offences.”

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Compliance Updates

EvenBet primed for global expansion with GLI certification

George Miller

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EvenBet primed for global expansion with GLI certification
Reading Time: 1 minute

 

Key approval follows enhancements made to market-leading poker platform

Leading online gaming software developer EvenBet Gaming has received certification from the Gaming Laboratories International (GLI) for its newly enhanced RNG poker platform, paving the way for the company to extend its global reach.

The supplier has been granted the certification for its leading poker solution, which has been improved to offer a faster and more secure experience.

Following the integration of new software, the product has been retooled through the use of sophisticated and innovative algorithms to guarantee fair play and trust between operators and their players.

Approval from GLI allows EvenBet to confidently enter new markets as part of its global expansion strategy, with moves into Spain and Latin America already firmly in its sights.

EvenBet CEO, Dmitry Starostenkov, said: “GLI certification is an important milestone for the company and will allow us to bring our world-leading poker solution to even more players across the globe.

“We’re constantly evolving our poker platform to deliver the best user experience, and utilising this new software brings even greater sophistication to our offering.”

EvenBet delegates will be on site at this week’s CasinoBeats / Betting on Sports summit at Olympia London. Starostenkov will also be leading a panel on poker’s renaissance (2pm Thursday, Conference Room 6) debating the merits alongside fellow CEO panellists, and reframing the future for this comeback vertical, whose varied digital content and social components are second to none.

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Compliance Updates

Michigan Sports Betting Legislation to be Ready by Super Bowl

Niji Narayan

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Michigan Sports Betting Legislation to be Ready by Super Bowl
Photo Source: engadget.com
Reading Time: 1 minute

 

Michigan State Rep. Brandt Iden, R-Kalamazoo, an active force behind the drive to legalize sports betting in the state following the U.S. Supreme Court order, has said he aims to complete the legalities by the Super Bowl. He said: “My goal is to have this up and running by the Super Bowl. Casinos are moving forward because they know it’s going to come to fruition at some point. If we don’t do this, we will continue to lose consumers to other states.”

Thirteen states and the District of Columbia have approved sports betting in their states since the court order. Michigan lawmakers are following suit by resurrecting an old plan.

Even though the bills had widespread support in the Legislature, they were vetoed by former Gov. Rick Snyder, who opposed the expansion of gambling in the state and feared a loss of revenue for the state lottery, from which revenues are funneled to schools.

Iden is hoping for a different outcome with a new governor in office.

The bill calls for an 8% tax on sports betting, which would generate between $8.7 million to $11.2 million in tax revenues. That’s based on a sport betting market in Michigan, both in the casinos and online, of up to $225 million.

The bill comes as the U.S. Supreme Court paved the way for legalized sports betting across the nation last year. The justices ruled that a 25-year-old federal law that has effectively prohibited sports betting outside Nevada is unconstitutional. The ruling set the stage for other states to expand legalized gambling as a source of government revenue.

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