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Compliance Updates

Nektan Enhances Its Regulatory Compliance Through Partnership With SMP Compliance Academy

George Miller

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Nektan Enhances Its Regulatory Compliance Through Partnership With SMP Compliance Academy
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SMP Compliance Academy has today announced a partnership with Nektan PLC, the fast-growing international gaming technology platform and casino services provider, to further strengthen its compliance and regulatory training programme.

The Compliance Academy, developed by Isle of Man-based SMP eGaming, provides CPD accredited multi-jurisdictional compliance and regulatory training content to gaming professionals and operators. It has quickly established itself as one of the most trusted compliance training portals within the industry.

Founded in 2014 and headquartered in Gibraltar, Nektan has a thriving global network of more than 145 white label online casinos and a growing list of large, tier one B2B operator partners. It has a diverse portfolio of content across its proprietary casino platforms, including more than 700 games on its white label platform, Evolve, and 536 games on E-Lite, its content distribution platform.

Malcolm Campbell, Head of Compliance at Nektan, said: ‘Every aspect of compliance, including security, social responsibility and customer care, is at the heart of our business model. The SMP Compliance Academy is fast becoming an essential tool for gaming professionals to stay on top of regulatory requirements, so choosing to partner with them, was an easy decision for us.

‘Its online training platform offers bespoke, continually updated and engaging content that meets the diverse needs of our ever-growing global casino networks. The partnership with SMP will reinforce our compliance and regulatory efforts as we strive to become the global leader in providing the richest, most robust and socially responsible casino platforms and services within the igaming industry.’

Ted Pepper, Director at SMP eGaming, said: ‘This partnership is another great endorsement of the Academy. It’s encouraging to see another highly reputable industry specialist recognise our expertise and the quality of the regulatory and compliance content that we provide through the platform.

‘We’re looking forward to working closely with Nektan to provide a bespoke compliance and regulatory training solution that compliments its pre-existing cohesive culture of compliance that runs throughout the organisation.’

SMP Compliance Academy is training partners with many of the industry’s largest players including Betfred, Microgaming, William Hill, FSB Tech, Colossusbets and Betcris.

 

 

About SMP eGaming:

SMP eGaming Limited is the e-gaming division of leading corporate and trust services provider, the SMP Partners Group of Companies. It provides objective and unbiased, multi-jurisdictional licensing, regulatory and compliance advice and support to established and early stage e-gaming operators, platform and software providers. Internationally recognised, SMP eGaming is headquartered in the Isle of Man with offices in Malta and Jersey, and comprises of a team of over 30 multi-disciplined gaming professionals. Having successfully advised and guided over 75 gaming operators and software providers through the licensing process across multiple-jurisdictions – Isle of Man, UK, Jersey, Malta, and Curacao, SMP eGaming have acquired a unique insight into the international online gaming sector. For more information please visit our website: www.smpegaming.com

 

About Nektan:

Nektan is an international B2B and white label gaming software and services provider, operating in the regulated, interactive real money gaming (RMG) space, delivering original and innovative solutions to commercial organisations that have established online audiences.

Nektan’s full end-to-end technology platform, Evolve, simplifies and supports the route to mobile and desktop gaming revenues, managing the full customer experience and back-office operations, allowing commercial partners to focus on marketing the product to their consumers.

Nektan’s US operating subsidiary, provides US land-based casinos with in-venue mobile gaming solutions which allow operators to add mobile technology and content to their existing offerings, with products accessible to players across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games™ (on-property mobile entertainment), and other captivating concepts and brands.

Nektan is headquartered in Gibraltar, regulated by the Gibraltar Licensing Authority and the UK Gambling Commission, as well as in the Irish market and maintains sales and customer support operations in its two primary geographical targets, Europe and North America.  The proprietary Evolve technology is developed and maintained by a talented and experienced team of employees from Nektan’s Indian office.

Nektan plc was admitted to the AIM market of the London Stock Exchange in November 2014. Further information on Nektan can be found on the Group’s website at: www.nektan.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

NJ Regulators Impose Fine on DraftKings

Niji Narayan

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NJ Regulators Impose Fine on DraftKings
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The New Jersey Division of Gaming Enforcement has fined DraftKings for violating the self-exclusion rules.

DraftKings has to pay out penalties totalling $7000 to the gaming regulator and return $3277 to customers after failing to adhere to self-exclusion rules.

The regulator hit DraftKings with the maximum $5,000 civil penalty for taking wagers from customers who had requested a “cooling off” period be placed on their accounts.

DraftKings discovered an error within its systems in November 2018 whereby the “cooling off” period had been set to zero days. During the month in which the system was not correctly in place, 54 people who were not meant to be able to deposit were able to place bets totalling $28,887. They lost $3277, which DraftKings will now have to pay back.

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Compliance Updates

State Duma Approves the Bill to Simplify Customer Registration of Russian-licensed Online Sports Betting Sites

Niji Narayan

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State Duma Approves the Bill to Simplify Customer Registration of Russian-licensed Online Sports Betting Sites
Image Source: goldenfrog.com
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Russia’s lower legislative body has approved the bill to simplify the customer registration process for Russian-licensed online sports betting sites.

State Duma has approved the third and final reading of federal law 423799-7, which will dramatically simplify the customer registration process. To take effect, the bill now requires the approval of the Federation Council and Vladimir Putin’s signature.

The bill explains that the “complex duplicate identification procedures” currently required to register with a Russian online bookmaker “encourages players to search for ways to overcome government measures … in order to gain access to foreign sites subjected to blocking by [Russian telecom watchdog] Roskomnadzor.”

The new legislation would allow bookmakers to delegate responsibility for customer identification to the TSUPIS, which will have three business days in which to transfer the info to the bookie. However, bookmakers may opt to conduct some due diligence on any new customer, just to be on the safe side.

If a bettor has already registered with Russia’s public services portal, both the bookmaker and the TSUPIS can accept this information as proof of the customer’s identity, so the customer need not make a physical trip anywhere.

There are some downsides to the simplified registration process, including a cap of RUB60k per individual transaction and a monthly cap of RUB200k for all transactions. However, this monthly cap can be overridden if the player verifies his document at TSUPIS partner’s retail location.

Nikolai Oganezov, who represents Betcity told that the new simplified registration could boost the overall domestic online betting customer base by 5% this year, with the growth up to 15% possible by the end of 2020.

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Compliance Updates

Maine Legislature Passes Sports Betting Bill

Niji Narayan

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Maine Legislature Passes Sports Betting Bill
Image Source: playusa.com
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Maine legislature has passed the sports betting bill. The Legislative Document 553 was given final approval by each chamber of the legislature and will now pass to Governor Janet Mills to be signed into law.

LD553 opens up the market to all of the state’s bricks and mortar gaming venues, such as commercial racetracks, off-track betting facilities, and commercial and tribal casinos. It will also allow mobile operators to apply for licences without the need for a land-based partner in the state.

Successful applicants will have to pay $20,000 as licence fee, 10% tax on land-based wagering revenue and 16% rate for mobile wagering. The bulk of revenue raised through these taxes will be allocated to the Maine General Fund.

Operators will be permitted to offer odds on all professional, collegiate and amateur sports events. Betting on events involving Maine-based colleges and universities will be prohibited. Only citizens aged 21 and above will be allowed to bet.

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