The platform provider has received clearance to enter the Greek-regulated market via two seven-year licenses
Soft2Bet, the award-winning software solutions provider has just announced that the Hellenic Gaming Commission’s Gaming Supervision and Control Commission (the EEEP) has granted the company betting events and casino games remote gaming licenses in Greece.
Following the revival of Greece’s online gaming market in 2021, this region continues to garner more and more interest from different operators. Soft2Bet has continued to rapidly elevate its presence in Europe, particularly after having secured operating licenses in Ireland, Denmark, and Sweden. Of course, the Greek market has been of particular interest to the platform provider and operator group as it seeks to further expand its global foothold, choosing to open in more and more regulated markets.
After a months-long process, Soft2Bet is now among the top figures to enter the highly-regulated Greek market. Being granted entrance into such a competitive market is further proof of Soft2Bet’s commanding position in the global gaming stage. This is also highly indicative of the high standards upheld by the company’s legal and compliance departments as well as Soft2Bet’s growing abilities.
“The issuance of our betting events and casino games remote gaming licenses in Greece is a terrific step forward for Soft2Bet. We view this as a springboard for further growth and are excited to pursue additional license opportunities in the near future. Soft2Bet remains focused on and committed to expanding its operation and bringing our exceptional gaming experience to even further markets across the globe. This very much highlights the company’s commitment for expenditure to even further regulated markets across Europe and around the globe. It is an additional important step in the right direction for Soft2Bet”, Commented David Yatom, Soft2Bet’s Group General Counsel.
Aviator to Take Players in Portugal on the Flight of Their Lives
World’s number-one crash game certified for launch in fast-growing online casino market
Players in Portugal, get ready to strap in for the flight of your lives. Spribe, the developer behind the number-one crash game in the world, Aviator, has been cleared for take-off in accordance with the most recent Portuguese regulations.
Aviator is the original crash game and since it took to the skies in 2019 has become one of the most-played games of all time. Today, it has more than ten million monthly active players with 160,000 bets being placed every minute of the day.
Aviator uses the increasing curve format with a plane that takes off and flies into the sky. As it climbs higher, a win multiplier climbs with it. The player must decide when to cash out; go too early and the win is small but wait too long and the plane flies away with their stake and accrued winnings.
Social interaction is at the heart of the game with players able to chat throughout their session. It’s multiplayer, too, with players competing with others on the leaderboard.
Aviator delivers fast-paced action thanks to its seamless user interface that has been designed for mobile play. Engagement is taken to the next level through bonus features including free spins and rain promo where players can make it ‘rain’ free spins in the chat.
Spribe is on a mission to launch Aviator in all regulated markets and the approval in Portugal is a major step forward in this regard. BMM Test Labs carried out the certification shortly after Portugal added ‘crash games’ in the regulations earlier in the year.
Operators in Portugal can now add Aviator to their lobbies and allow them to see what all the fuss is about by playing the most popular crash game on the planet for the first time.
“We are on a mission to launch Aviator in all regulated markets across the world so being given the green light to enter Portugal is a major moment for us,” the Chief Commercial Officer for Spribe, Giorgi Tsutskiridze, said. “Aviator offers an experience like no other; it’s fun, fast-paced and highly social. This has made it a big hit with players but especially those in the lucrative but hard to engage Millennial and Generation Z demographics.
“Operators in Portugal can now provide these experiences to these players by adding Aviator to their game lobbies for the first time, allowing them to join the ten million players that go for the ride of their lives every month.”
AOJND, President Odeta Nestor – Clarifications Regarding Information Appeared in the Media
BUCHAREST – Odeta Nestor, President of the Association of Remote Gambling Operators (AOJND), has provided insights into the current state of the remote gambling sector in Romania.
Asociatia Operatorilor de Jocuri de Noroc la Distanta (AOJND) represents the principal licensed remote gambling operators in Romania. “AOJND maintains ongoing dialogue with authorities to find the most optimal legislative and regulatory solutions, catering to the interests of gamblers, the industry, and the Romanian economy at large,” asserted Odeta. “In this role, our activities align with other trade associations in various industries operating legally in Romania, whether in banking, telecommunications, or HORECA.”
Regarding the draft law currently under discussion in the Chamber of Deputies, initiated by Deputy Alfred Simonis, Odeta clarified, “We have not taken any stance as it contains no provisions regarding the activities of remote gambling operators.”
Since the establishment of the National Gambling Office (ONJN) in 2013, priority has been accorded to eradicating unfair competition from unlicensed and unauthorized operators. “In our view, the black market is now at its lowest since the revolution, as there are legal controls and regulations in place,” emphasized Odeta.
Odeta added that in Romania, only local operators or those from the European Union or the European Economic Area can hold operating licenses. “Their activities are strictly monitored by the National Gambling Office, which has direct access to game servers through a dedicated platform. Moreover, operators maintain mirror and backup servers on Romanian territory, complying with existing legal provisions.”
She emphasized that all systems undergo audits by independent bodies licensed by the Romanian state, ensuring that transactions are correctly recorded and all safety and responsible gambling standards are met. “Currently, remote gambling adheres to the highest standards of transparency and integrity, with a 100% tax collection rate.”
Odeta praised the progress made in the regulatory landscape of online gambling since 2013, with Romania now being cited as a benchmark for best practices in the sector, having 30 licensed operators for remote gambling.
She pledged the association’s full cooperation to the Romanian Government to thwart the advent of illegal offshore operators and to improve public perception of the sector. “We also agree more needs to be done to protect players and to promote gambling as a form of entertainment, not a get-rich-quick scheme.”
Odeta also highlighted the industry’s initiatives in responsible gambling, preventing abusive gaming, and addiction, with AI systems and strict measures against underage access. “Remote gambling operators report all suspicious transactions to the relevant authorities and maintain a continuous collaboration with law enforcement agencies.”
In conclusion, Odeta assured authorities of the remote gambling operators’ willingness to collaborate in regulating the domain and enhancing its public perception.
LEC Introduces Sporting Financial Regulations
To support the long-term financial stability and competitive balance of the LEC, the league is going to introduce new financial regulations – known as Sporting Financial Regulations (SFR) – for the start of the 2024 LoL Esports Season.
The LEC SFR will encourage teams to maintain the total sum of its five highest-paid player salaries below a certain threshold, with teams exceeding the threshold having to pay an excess fee (SFR Fee).
In doing so, the LEC seeks to create a financially sustainable environment for its pro players, partnered teams, and the league itself, allowing all parties to grow at a healthy and scalable pace, and protect the ecosystem from unsustainable spending practices. In addition, the framework will support the league by creating a better competitive balance and more engaging competition, further enhancing the experience for players and fans.
“In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole. The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come,” said Maximilian Peter Schmidt, Director of League of Legends Esports EMEA.
SFR will encourage each team to maintain the total sum of salaries (known as SFR Spend) paid to the top five highest-paid players in a team within a certain range. The range includes both an upper spending threshold (SFR Threshold) and a lower spending threshold (SFR Floor), with the lower spending threshold amounting to 50% of the SFR Threshold. Meanwhile, the SFR Threshold is calculated based on a number of considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee.
An exception will be made to teams if a player enters into a contract with the team either during or before the end of the 2023 LEC Season Finals. In this instance, the SFR Spend will be reduced by one-fifth of the SFR Threshold or the actual salary amount; whichever is lower.
The policy will be introduced starting from the 2024 LEC Global Contract Start Date (21 November 2023), with the first cycle running until the 2024 LEC Global Contract End Date (18 November 2024).
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