Compliance Updates
EGBA Criticises New Online Casino Restrictions in Sweden
As part of the measures to protect citizens during the coronavirus lockdowns, the Swedish government has enforced a deposit limit of 5000 SEK (€471) per week for online gamblers. In response, the country’s gambling regulator Spelinspektionen has warned that the deposit limit will have a marginal effect on most Swedish gamblers and could drive high-spending customers towards unlicensed websites.
The European Gaming and Betting Association (EGBA) believes safer gambling is important now more than ever, during the coronavirus-related lockdowns across Europe. However, as outlined in a recent written submission to the Swedish government, EGBA believes the proposed deposit limit could have unintended and detrimental effects, and harm more customers than they protect.
EGBA believes that any positive effects of the deposit limit will be negated by negative effects on channelisation. According to a recent study, 40% of Sweden’s online casino customers, and 34% of sports betting customers, already gamble on unlicensed websites or would consider doing so. The deposit limit could, as Spelinspektionen rightly warn, drive high-spending players towards unlicensed websites which undermine their consumer protection.
“We understand that politicians seek to reassure and protect their citizens during these difficult times, but the proposed gambling restrictions could actually harm more customers than they protect. Many Swedes are already gambling on unlicensed websites and these restrictions will make unlicensed websites – which don’t apply any limits – even more attractive to them. We must remember gambling is human behavior, consumers will always make their own choices and top-down regulation rarely works. In this case, it could have detrimental or counterproductive effects by pushing more gambling onto unregulated websites,” Maarten Haijer, Secretary-General of EGBA, said.
Source: EGBA
Compliance Updates
NSoft’s MGA Recognition Notice: A Catalyst for Continued Growth and Innovation in iGaming
The European Gaming Congress (EGC) returns to Warsaw for 2024 on 15-16 October, and organizer HIPTHER is proud to introduce the conference’s esteemed Sponsors – trailblazing companies and accomplished professionals that help make the magic happen!
We are proud to introduce Pen and Paper Sponsor of the #EGC2024, NSoft, and their MGA Recognition Notice – the catalyst for continued growth and innovation in iGaming!
The European Gaming Congress is now live in Warsaw at the Polonia Palace Hotel, and NSoft’s Senior Legal Adviser, Zora Vidmar Kurtović, is with us and looking forward to connecting with all attendees!
NSoft, a leading software solutions provider in the iGaming industry, has held the Malta Gaming Authority (MGA) Recognition Notice. Now, you might be wondering, “What’s the big deal about this recognition?” This esteemed recognition has been instrumental in NSoft’s sustained expansion into new markets and the successful launch of innovative gaming products. It’s been like a secret ingredient in their recipe for success.
The Significance of the MGA Recognition Notice
The MGA Recognition Notice is a formal acknowledgment by the Malta Gaming Authority of a B2B license issued by another competent authority within an EU member state. Holding this recognition signifies that NSoft adheres to the stringent regulatory standards set forth by one of the most respected regulators in the global iGaming industry. It reinforces NSoft’s reputation for integrity, compliance, and excellence in delivering high-quality gaming solutions.
So, what exactly is this MGA Recognition Notice? “Think of it as a gold star from the strictest teacher in school. The Malta Gaming Authority is kind of a big deal in the iGaming world, and when they give you a nod, everyone sits up and takes notice. This recognition basically says, ‘Hey, NSoft is legit. They’re playing by the rules and delivering top-notch gaming solutions’”, explains Zlatan Omerspahić, Head of Legal & Compliance at NSoft.
How the Recognition Notice Benefits NSoft
Now, you might be thinking, “Okay, but how has this actually helped NSoft?” Great question! This recognition has been opening doors left and right for them.
“It’s like having a VIP pass in the iGaming world. We have been able to expand into new markets smoothly, and all the big-shot operators out there love working with companies that have this kind of recognition. It’s all about trust, you see,” Omerspahić explains.
Sustained Credibility and Compliance
With the MGA Recognition Notice in place, NSoft has consistently demonstrated its commitment to upholding the highest operational standards. This longstanding recognition assures partners and clients that NSoft operates with full compliance to international gaming regulations, fostering trust and reliability in all business dealings.
Strategic Market Expansion
The recognition has been pivotal in enabling NSoft to:
- Efficiently Enter New Markets: Streamline licensing procedures across multiple jurisdictions by leveraging the MGA’s esteemed recognition.
- Forge Strong Partnerships: Collaborate with reputable operators who value regulatory compliance and premium gaming content.
- Enhance Global Presence: Expand its reach to a wider audience, solidifying its position as a global leader in the iGaming sector.
Facilitating the Launch of Innovative Gaming Products
But NSoft isn’t just resting on its laurels. No sir! They’ve been busy cooking up some pretty cool games. The MGA Recognition Notice has allowed NSoft to seamlessly introduce a variety of cutting-edge gaming products to the market. Have you heard of:
Virtual Drag Races: Offering players an exhilarating virtual racing experience that captures the excitement of real-world drag racing.
Crash Cash Online: An engaging game that combines elements of strategy and chance, providing thrilling opportunities for substantial wins.
Casino Slots like Gold of Egypt and Fishy Guy: Immersive slot games that transport players to captivating worlds filled with adventure and rewards.
“The best part? Thanks to MGA Recognition Notice, we can roll out these games faster than you can say “jackpot.” Operators are quick to snap them up because they know they’re getting quality stuff that follows all the rules,” Omerspahić says.
Advantages for Product Deployment
Regulatory Assurance: Operators can confidently integrate NSoft’s games, knowing they meet the MGA’s rigorous standards.
Market Receptivity: Players in MGA-recognized jurisdictions are more inclined to engage with games from trusted providers like NSoft.
Swift Market Entry: The recognition facilitates faster introduction of new games to the market, enhancing competitiveness.
Ongoing Growth and Future Prospects
Building on the foundation provided by the MGA Recognition Notice, NSoft continues to experience robust growth, particularly in the areas of casino slots and virtual games.
“This MGA Recognition Notice isn’t just a piece of paper for NSoft. It’s more like a launchpad. It’s helped us build trust, expand our reach, and keep pushing the boundaries of what’s possible in iGaming,” Omerspahić notes.
The company remains dedicated to:
- Innovation: Investing in research and development to create next-generation gaming experiences.
- Industry Leadership: Pursuing awards and recognitions that highlight excellence in game design, technology, and customer satisfaction.
- Expanding Collaborations: Establishing strategic partnerships to further extend its market reach and influence.
NSoft remains committed to leveraging the advantages of the MGA Recognition Notice to push the boundaries of what’s possible in iGaming. With a focus on quality, compliance, and innovation, the company is poised to continue its trajectory of success, bringing unparalleled gaming solutions to markets around the world.
Compliance Updates
Malta’s National Lottery Earns ISO Certification for Excellence in Security and Operations
National Lottery plc, the exclusive operator of the national lottery of Malta, has been awarded the globally respected ISO/IEC 27001:2022 Certification. This certification acknowledges the company’s outstanding commitment to security, operational efficiency and the highest management standards across all its functions.
The ISO/IEC 27001:2022 certification is a leading internationally recognised benchmark for Information Security Management Systems (ISMS). National Lottery plc’s achievement highlights its dedication to maintaining a robust, visible, and well-documented security environment, essential in fostering public confidence and trust in its games and services.
Mr. Joseph Bonanno, Chief Lottery Officer of National Lottery plc, said: “Achieving this certification underscores our strategic efforts to maintain the highest international standards, ensuring the security and integrity of our operations. This recognition reaffirms the trust that players, the public, and society can place in our games and services. Obtaining this certification within such short timeframes since the commencement of our operations is quite remarkable and attests our commitment to quality, security and integrity.”
Auditors from TÜV HELLAS (TÜV NORD) conducted a comprehensive audit of National Lottery plc’s operations in Malta, evaluating the company’s management, organisation, and lottery/betting systems. The audit spanned across multiple departments, including Legal and Compliance, Information Systems, Operations, Sales and Marketing, Corporate Services, Human Resources and Finance. Key personnel from each area were interviewed to ensure compliance with the stringent requirements of the certification.
A particular highlight of the audit was the inspection of the company’s Live Draw Studios, where the auditors reviewed the procedures governing the live draws of its games. This thorough examination ensures that the draw processes are managed with integrity, bolstering confidence in the fairness and transparency of the games offered.
Another critical facility audited was the Logistics Centre, which manages key operational aspects such as field operations, technical services, warehousing, logistics and fulfilment for the company’s retail network.
This prestigious international recognition will serve as a catalyst for National Lottery plc in its pursuit of and commitment to responsible gaming, security and transparency, always prioritising the interest of players and society at large.
Compliance Updates
Lucky 7 Awarded Dutch Licence with Finnplay Platform
The KSA has granted Lucky 7 the Dutch B2C online gambling licence. The new brand, Lucky 7 will become the fifth brand to go live on the Finnplay platform in the Dutch market, maintaining the Finnish platform provider’s perfect record of licence applications in the Netherlands.
Lucky 7’s COO, Frank Loffeld says, “We are thrilled to have achieved this important milestone, and we now look forward to a very successful brand launch soon. Finnplay’s team was instrumental in helping us navigate the complex application process, and we’re pleased to have their continued support as we launch Lucky 7 to the market.”
Finnplay’s Managing Director, Jaakko Soininen added, “Our team is proud to have helped Lucky 7 get over the line in their Dutch licence application, keeping our perfect record of Dutch compliance intact. We are eager to help them officially launch the brand now and turn it into a very successful business in the Netherlands.”
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