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Compliance Updates

Soft2Bet obtains Swedish Gaming licence, launches two of its leading brands

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Soft2Bet obtains Swedish Gaming licence, launches two of its leading brands
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Regulator grants twin licences as group continues global expansion

Casino and sportsbook operator group Soft2Bet has received SGA licence approval to launch and operate brands on the Swedish regulated market.

The company has certified its platform and two of its leading brands, Campobet and YoYo casino, with established agency, BMM laboratories. After several successful inspections and audits, both are now fully compliant in the regulated territory.

Soft2Bet’s entrance in the Swedish regulated market is the latest strategic move for the operator group as it expands its global footprint across several emerging regions.

Uri Poliavich, COO of Soft2Bet, said: “The granting of this licence is a historical moment for Soft2Bet. The team have put in a lot of effort to qualify for all the requirements and meet all the deadlines.

“This achievement is a product of uncompromising dedication and is another great accomplishment for our executives and our team.”

Among Soft2Bet’s consumer-facing brands are Malina Casino, Cadoola, Zulabet, Wazamba and Nomini. It also has its own affiliate programme, 7Stars Partners. The group currently operates with MGA and Curacao licences, with further certification within the EU set to follow.

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Compliance Updates

1400 Arrests, $8M Seized in Illegal Gambling at Euro: Interpol

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An Interpol operation targeting illegal gambling during Euro 2020 led to 1400 arrests and the seizure of $7.9 million (6.7 million euros) in cash, the Lyon-based global crime agency reported.

Thousands of raids in Asia and Europe also resulted in the confiscation of computers and mobile phones connected to almost $465 million in bets.

“While most of us were watching the UEFA European Football Championship as simple fans, hundreds of specialized officers across 28 countries were targeting organized crime groups looking to earn millions from illegal gambling and related money laundering activities,” an Interpol statement read.

Hong Kong police detained more than 800 suspects, “including the alleged kingpin of a triad-controlled bookmaking syndicate,” the statement said.

In what was described as one of Hong Kong’s most successful operations ever they seized $2.7 million in cash and records detailing hundreds of millions in bets.

In Italy, home of the European champions at the pandemic-delayed tournament, Operation SOGA VIII inspected 280 betting shops and delivered 1.3 million euros in sanctions for illegal betting schemes.

In all, Interpol’s eight SOGA operations have led to more than 19,000 arrests, cash seizures of more than $63 million and the closure of over 4000 illegal betting dens.

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Compliance Updates

You can now search Complitech’s technical requirements database for free

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You can now search Complitech's technical requirements database for free
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The team at Maxima Compliance – the industry’s most established technical and regulatory compliance support firm – has made access to its Complitech tool free for everybody.

Complitech is the largest searchable database of technical requirements for the online gaming industry. It now features over 30 standards, including GLI-19 and GLI-33, every European market, Colombia and several US jurisdictions.

Over the past three years, Maxima’s technical compliance analysts have devoted thousands of hours to translating and categorizing requirements, manually tagging and matching them across jurisdictions.

Thanks to this effort, Complitech has become a highly dependable tool which some of the largest players in the industry are using to empower their compliance department and drive their software development.

Access to this tool is now open to everybody by simply visiting www.complitech.com and registering with an email address. The new version of the tool has the same functionalities of the subscription service, allowing you both to search the requirements of a single jurisdiction, or to create a gap analysis between those of multiple jurisdictions.

Once the user has completed their search and is satisfied with the results, they will now be prompted with the option to download the document containing the results of its searches for a fee. This fee will depend on the complexity of the market or the number of jurisdictions involved in the gap.

Antonio Zanghi, CEO of Maxima Compliance, said: “We are mindful that a lot of start-ups or smaller game studios might only need to do the occasional spot search, or might be focusing on entering one market at the time. This pay as you go functionality offers the power of this unique tool at a fraction of the usual cost, for the occasional user.”

Requirements have been clearly categorised as either belonging to the operator or the supplier, allowing companies to quickly identify those that apply to them. You can search requirements that are specific to a player account management system, a gaming platform, a sportsbook including virtual sports betting, every type of casino product offered in any regulated market, change management programmes and information security management systems.

Complitech has been brought to the gambling industry and is maintained by a large team of technical compliance analysts working at Maxima Compliance. The company has become popular for its unique blend of outsourced technical and regulatory compliance support services, allowing its customers to fast-track their entry into regulated markets.

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Compliance Updates

A Closer look at Italy’s AMMS license

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The number of gambling players is still increasing in Italy, and the reason is simple: Italians love to gamble. Italians love casinos games such as poker, slots, jackpots, and bingo.

The game in Italy has been around for centuries. It is worth remembering that it all started with the Roman Empire, when the predecessor of the modern game of backgammon, Ludus Duodecim Scriptorum, became popular among Roman legionnaires

According to Italian criminal regulation law, gambling is illegal, be it organized in a public place or a private club. However, the Italian authority also considers that there’s a difference between games of luck and games where the outcome depends on the player’s skill. As result of this consideration, sports-betting, lotteries, and some other activities fall into the category of legal and regulated gambling activities.

The AAMS (Amministrazione Autonoma dei Monopoli di Stato – Autonomous Administration of State Monopolies) is the regulator body responsible to inspect operators and regulate gambling sector in Italy by issuing licenses for the approved operators.

Since March 2010, foreign gambling operators have been able to launch online real-money games. Before this change, gambling operators were obligated to get an Italian.

AMMS License

The Agenzia Dogane e Monopolio di Stato (AAMS) is responsible for ensuring a proper conduct of the online operators, preventing the violation of gambling rules and avoiding any fraud, corruption and money laundering in the Italian gambling sector.

The Italian gaming authority are responsible for issue the licenses. The licenses cover skill games, poker games, casino games, sports betting, lotteries, bingo and horse pools. The number of licenses that can be issued by AAMS is limited to 120.

AMMS License Costs

The Italian regulator authority AMMS requires to pay €350,000 + 20% VAT for them for covering the technical management, administration, and supervision expenses. Online casinos must also pay a corporate tax of 27.5% and an additional tax of 0.6% that is based on their turnover on top of this. Once the license is granted, the operator can offer online gambling games for up to nine years.

AMMS license Requirements

It is not so easy to be qualified for an online gambling license in Italy, all operators must meet certain requirements. These include financial, technical, social, and other aspects of the business sector.

To be granted a license, the operator company must manage games in Europe with a turnover of no less than €1,500,000 in the last 2 years. The company must function at a high technical level, providing stable, secure, and easy-to-use services and be incorporated as a limited company. Other important requirements are also imposed, the operator must have reliable administration members, its official residence and a Italian-speaking technical support in one of the EU countries.

Some extra important requirements:

  • Casinos may not advertise their services to underage players.
  • Players must have at least a 90% of winning margin or ROI on casino games.
  • Winning must be paid out within a week.
  • Casinos must use a software that’s proven to offer a sage gaming environment with no fraud and risk.
  • Casinos operators must enforce and maintain measures for secure transactions.

While the AAMS license gives Italian customers a sense of security, there are also downsides to the license as well. According to Non-aams.com, an increasing number of Italians are looking for casinos licensed by other regulatory bodies such as Curaçao. This shows that not all Italian players are satisfied with the imposed Italian gaming laws and how the escape option is being.

Non-AAMS Casinos

Non-AAMS casinos are casinos that do not have an AAMS license, but usually have licenses from authorities in other countries. Are non-AAMS casinos safe to play? The answer is yes, they are reliable and safe to play too. There are many other gambling authorities offering iGaming players protection and operating around the world such as Curacao Gaming Control Board, Malta Gaming Authority, UK Gambling Commission and Swedish Gambling Authority.

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