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Compliance Updates

Anjouan Online Gambling License – Who, What, Where, Why and How?

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Anjouan Online Gambling License - Who, What, Where, Why and How?
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In the rapidly evolving era, the online gaming industry has seen significant growth. However, before embarking on this journey, to gain trust and credibility, obtaining an online gambling license is a prerequisite. The Anjouan online gambling license is attracting more and more attention in this context.

Mark O’Neill, the director of Global Gaming Solutions, has recently returned from the iGBL!VE conference in Amsterdam and has learnt that a number of operators are exploring the Anjouan online gambling license as an alternative. This article delves into the details of the Anjouan Online Gambling License, answering the who, what, where, why, and how related to it. Additionally, Mark provides his thoughts for online gambling operators looking to obtain this license.

 

Who

The Anjouan Online Gambling License is not a new product to the online gambling market. In fact, operators have been able to apply for an Anjouan Online Gambling License since 2005.

So why is everyone only speaking about it now? Due to the proposed regulatory changes in Curacao, operators have been looking at alternative jurisdictions such as the Isle of Man, Kahnawake and Malta. Over the past few years, Anjouan has not been regarded as a jurisdiction of choice for online gambling operators. However, over the past six months, there has been a lot of noise about the Anjouan Online Gambling License which has led to more and more operators looking to obtain this license as an alternative.

 

What

In my previous article, we discuss the proposed changes to Curacao which we expect to come into force from the 1st of September 2023. However, there is still a lot of uncertainty regarding the new changes, such as the substance requirements and the transition period for sub-license holders to move to a full Curacao license. Ultimately this uncertainty is why some Curacao operators are looking to make the move to alternative jurisdictions now. Operators need certainty to future-proof their operations and this is why Anjouan is attracting more and more attention.

 

Where

Located off the coast of Africa, Anjouan is one of the three islands that form the Union of Comoros, a small nation that might not be familiar to many. However, it is in the online gaming world where Anjouan has carved a name for itself. Through the provision of online gambling licenses, Anjouan appears to be a cost-effective solution for companies looking to set up their online casinos, sports betting sites, and other gambling platforms.

 

When

The primary legislation, the Computer Gambling Licensing Act, was enacted in Anjouan in 1999. However, it wasn’t until 2005 that Anjouan truly embraced the global gambling scene. This happened when the State of Anjouan Union of Comoros enacted the Computer Gaming Licensing Act 007 Of 2005, which took effect on February 20th, 2005. This Act permitted the Anjouan government to grant licenses to online casinos and provide them with assistance. Due to the changes in the regulatory landscape, we anticipate that Anjouan will become more of a familiar name in the industry over the next 12 months.

 

Why

Anjouan is a jurisdiction which has established a regulatory framework to attract business to the Island. Securing an Anjouan online gambling license provides operators with multiple advantages, the most notable of which is its universal recognition. This license allows operators to conduct their businesses in several jurisdictions, making it a choice for gaming start-ups seeking global outreach. Another benefit of the Anjouan license is its affordable cost. Compared to other jurisdictions that can be quite expensive and demanding in terms of requirements, Anjouan provides a cost-effective licensing solution, making it an option, particularly for smaller companies or those entering the online gaming industry.

 

How

Obtaining an Anjouan online gambling license is a simple process. Online gambling platforms must adhere to certain essential procedures for registration, with the primary requirement being the acquisition and registration of a license under the Gaming License category.

The licensing process is managed by Anjouan’s licensing authority and an annual fixed fee applies to all, regardless of the size of the operation. The licensing authority provides continual guidance during the application process, encompassing business verification, software testing, and compliance checks. Additionally, continual oversight is maintained to ensure that licensed operators adhere to the requisite standards and maintain exceptional operational practices.

 

Our Thoughts

Presently, there are only four casino brands operating under an Anjouan Online Gambling License. Although Anjouan has had the capacity to issue licenses since 2005, it remains a new jurisdiction for many, thus, building a credible reputation within the industry may require time. As with anything new in this sector, key service providers such as banks, payment service providers, software providers, and other service providers will conduct their own assessments to determine whether they’re comfortable with the risk involved in dealing with licensees from Anjouan.

In a world where customer due diligence and source of wealth verification are paramount, it seems that Anjouan has fewer requirements compared to tier-one jurisdictions. While this might raise concerns for some, it may also be seen as a benefit by those seeking a license without the need for extensive customer due diligence. Similarly, obtaining a license in Anjouan can be accomplished within a matter of weeks, a significantly shorter period than the six to twelve months needed in Malta, or the twelve weeks required in the Isle of Man, evidencing the less stringent requirements in comparison to tier-one jurisdictions.

In conclusion, the Anjouan online gambling license may act as a stepping stone for online gaming enterprises looking to expand their global footprint. However, gaining widespread recognition for this license as a credible industry standard will take time and this will present operational challenges when trying to engage with key partners. But given its affordable cost, regulatory framework, and growing acknowledgement, the Anjouan license could serve as an alternative for both start-ups and smaller online gaming operators.

 

For further information on the latest trends in the online gambling industry, please contact us via our website www.globalgaming.solutions or via email at [email protected].

Compliance Updates

EGBA Welcomes Confirmation Of Frankfurt As Seat Of New EU Anti-Money Laundering Authority

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EGBA Welcomes Confirmation Of Frankfurt As Seat Of New EU Anti-Money Laundering Authority
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The European Gaming and Betting Association (EGBA), the association representing Europe’s leading gambling operators, welcomes the recent confirmation of Frankfurt as the seat of the new European Anti-Money Laundering Authority (AMLA). This agreement, reached by the EU institutions, creates a European anti-money laundering authority which will operate together with, and in addition to, the already existing national anti-money laundering (AML) authorities of the EU member states.

AMLA, which will commence operations in mid-2025 with over 400 staff members, will possess both direct and indirect supervisory powers over obligated entities, including the EU’s biggest financial institutions. With the power to intervene in cross-border cases, AMLA is expected to provide comprehensive guidance that further harmonises AML rules and their application, including creating a standardised reporting template for Suspicious Transaction Reports (STRs), which will greatly benefit various sectors, including gambling, by standardising reporting formats across EU countries.

The establishment of AMLA as a new authority is a fundamental part of the ongoing reform of the EU’s anti-money laundering framework, which is expected to be finalised and agreed by the EU institutions before the end of the current EU mandate in June 2024.

As the EU finalises the new AML legislative package, EGBA has developed industry-specific guidelines on anti-money laundering to help online gambling operators comply with the AML rules in the EU, including the upcoming EU AML Regulation. Developed collaboratively with our members, the guidelines offer a risk-based approach and include practical direction for operators in areas such as risk assessments, customer due diligence processes, suspicious transaction reporting, and record-keeping.

To ensure the effectiveness of the guidelines, EGBA members will engage in regular discussions on their implementation and are obliged to submit annual reports to EGBA summarising their progress. To promote transparency and accountability, these regular discussions and reporting will help to identify and address potential issues or areas for improvement in the guidelines and ensure they remain up to date with the latest developments. Other operators are invited to adopt the guidelines and participate in the reporting requirements.

“We welcome Frankfurt as the chosen seat of the new European Anti-Money Laundering Authority. Given the city’s position as the centre of European finance, it is a logical choice. We look forward to collaborating with AMLA to ensure the representation of the gambling sector’s voice in future EU-level AML discussions and help contribute positively to the fight against money laundering. The standardisation of STRs will really benefit gambling operators, particularly those who operate in many countries, because there are currently many different reporting formats across EU member states. By implementing our AML guidelines, operators can also already be well positioned for the EU’s incoming AML rules and play their part in raising standards across the industry.” – Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs, EGBA.

 

Source: EGBA

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Compliance Updates

BOS Opposes Swedish Government’s Credit Card Ban

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On Friday, the government came out with a proposal to ban the use of credit cards for gambling. The government is thus going against its own state investigation into the matter, the so-called Over-indebtedness Inquiry.

In a previous opinion, BOS has supported the Over-indebtedness Inquiry’s conclusion to continue allowing credit cards for gambling.

“It is sad that the government does not listen to its own expertise and instead proposes a ban on credit cards when gambling, contrary to what the government investigation has concluded. Interestingly, the government does not propose a corresponding credit card ban for the purchase of alcoholic beverages, which in Sweden is only offered by a retail monopoly owned and operated by the government itself,” Gustaf Hoffstedt said.

“The government is handing yet another competitive advantage to the unlicensed gambling market, which has a 41% market share when it comes to online casino. The risk is great that unlicensed gambling will overtake and gain a larger total market share than licensed gambling in 2024. The government needs to change focus and show that it is on the same side as the licensed gambling companies and the safeguarding of consumers,” Gustaf Hoffstedt added.

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Compliance Updates

James Blake Fined for Breaching Tennis Sponsorship Rules

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Miami Open tournament director and former top 10 player James Blake was fined $56,250 for violating tennis’ rules about betting sponsorship, the International Tennis Integrity Agency announced Wednesday.

The London-based ITIA said the violation was unintentional and Blake “cooperated fully with the investigation and did not contest the charge”.

If Blake breaks the rules again during an 18-month probationary period that began on Feb. 9, the agency said he would be subject to an 18-month suspension and an additional fine of $131,250.

The TACP rules state that: “No Covered Person shall directly or indirectly, facilitate, encourage and/or promote Tennis Betting (Facilitation).”

Karen Moorhouse, CEO of the ITIA, said: “Across our members – the ATP, WTA, ITF and Grand Slams – the rules prohibit accredited individuals from having commercial relationships with betting companies.

“This case is more a matter of perception, rather than corruption. The rules apply to players, coaches, officials and accredited tournament staff – who all have the ability to influence results or have access to inside information.

“We urge anyone in the sport who is unclear or is considering commercial deals like this to get in touch with us to seek guidance.”

The ITIA is an independent body established by its tennis members to promote, encourage, enhance and safeguard the integrity of professional tennis worldwide.

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