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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

 

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Compliance Updates

Gibraltar’s GLA Suspends Operating Licence of Addison Global

Niji Narayan

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Gibraltar’s GLA Suspends Operating Licence of Addison Global
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Gibraltar’s Gambling Licensing Authority (GLA) has suspended the operating licence of Addison Global, which operates under the brand name MoPlay.

The move follows advice from the Gambling Commissioner, who according to a Government press statement, has been working with company executives on restructuring proposals put forward by the shareholder of the company, who gave assurances that the intention was to support the business and its further development at all times.

A government statement concluded that these proposals, which included honouring all outstanding liabilities, did not materialise and the Gambling Commissioner was no longer able to accept that the firm is able to meet its licensing conditions.

The Government said the move to suspend the relevant licences has been made to protect consumers from any further detriment. The statement adds the Directors will have to address the solvency issues.

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Compliance Updates

EGBA Proposes Changes for German iGaming Market

Niji Narayan

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EGBA Proposes Changes for German iGaming Market
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The European Gaming and Betting Association (EGBA) has outlined several recommendations aimed at improving the proposals for a Third State Treaty on gambling.

EGBA welcomes the progress towards developing a new online gambling regulation but warns that the draft treaty proposals are inconsistent, overly restrictive in the context of current consumer demand and jeopardise the task of developing a fully functioning online gambling market in Germany.

“A new online gambling regulation is badly needed in Germany, but these new proposals could make the current regulatory dysfunction even worse. An attractive product offer is absolutely essential to achieving a safe and well-channelled gambling environment – but the proposed restrictions would prevent this,” Maarten Haijer, Secretary-General of EGBA, said.

Given the importance of channelling, consumer choice and the “shop-around” nature of online betting, EGBA is concerned that the restrictions proposed in the new state treaty will undermine the success of the future online gambling regulation. Specifically, the cumulative effect of the current product restrictions and the comprehensively restricted access to online casino games, which has been part of the European Commission’s repeated criticism of Germany’s gambling regulations.

To ensure this new regulation is a success, EGBA makes the following recommendations:

  • Online casino: A full product range is essential to support effective channelling; there should be no opt-out for the Länder when it comes to the regulation of casino games.
  • Bet types: Extensive restrictions should be avoided when defining permissible bet types. Any restrictions on live betting would undermine the objective of channelling consumers.
  • Deposit limits: A mandatory cross-provider deposit limit of EUR 1000 will be difficult to implement on a technical level and raises concerns about data protection. A recent study found that the setting of voluntary deposit limits is effective and gamblers who set their own deposit limits would spend significantly less money, compared to players who had not.
  • Player account activity: The proposed waiting times for switching between products and operators are not justified and will undermine channelling because they ignore the “shop-around” nature of online betting behaviour and the nature of price and odds comparisons.
  • Regulatory authority: EGBA welcomes the proposal to set up a central competent regulatory authority but has concerns about how long it will take to set up and how this could affect licensing decisions.
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Compliance Updates

Betway Secures Portuguese Licence

Niji Narayan

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Betway Secures Portuguese Licence
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Betway has secured a licence from the Comissao de Jogos do Turismo (SRJI) to operate B2C online casino and betting services in Portugal.

The government agency which leads licencing initiatives for Portugal’s gambling marketplace, sanctioned by the nation’s Tourism Board has granted online gambling rights to Betway’s Malta operating subsidiary GM Gaming Ltd.

Portugal becomes Betway’s ninth European regulated marketplace, in which the operator maintains operating licences within the UK, Italy, Belgium, Sweden, Spain, Germany, Ireland and Denmark.

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