Compliance Updates
The Indispensable Importance of an Isle of Man Software License
In our weekly series’ second installment focusing on the Isle of Man, we feature insights from one of our regulatory collaborators, Mark O’Neill, the Director of Global Gaming Solutions. In this piece, Mark discusses the advantages of securing a Software Supply license in the Isle of Man.
The Isle of Man is internationally recognised for its robust regulatory standards, thereby making a license from this jurisdiction a symbol of trust and transparency. Such a license is a powerful testament to a software supplier’s commitment to providing a quality, reliable, and secure service to its clients. With regulatory changes on the horizon across multiple jurisdictions, software providers, aggregators, and resellers have never had a better time to obtain such a robust and credible license.
Here are some key points that software providers should be aware of:
- 12 weeks license turnaround;
- Operators with an Isle of Man license are more successful at securing banking in comparison to Curacao, Kahnawake, Costa Rica and Malta operators;
- Competitive tax regime including 0% corporation tax and 0% capital gains tax;
- Isle of Man B2C operators can deploy B2B licensed games on their site without requiring an RNG testing certificate;
- No requirements relating to player registration such as; server location, KYC and AML for B2B licensees;
- 25% of Isle of Man license holders are currently targeting LATAM markets;
- Blockchain token software licensing.
Protecting the Integrity of Operations
Acquiring an Isle of Man Software Supply License demonstrates that a company operates under a trusted and proven regulated framework, significantly enhancing its reputation amongst both content providers and clients. This license is a testament to the company’s dedication to industry best practices. It is a clear indication that the software supplier abides by internationally recognised standards and respects the legal and regulatory requirements of its operations.
Enhancing Client Trust and Confidence
In a world where business transactions are often conducted virtually, trust becomes a valuable commodity. Both clients and suppliers often consider a company’s licenses and certifications when determining their trustworthiness. A Software Supply License from the Isle of Man is more than just a piece of paper; it is a confidence booster for clients, assuring them that they are dealing with a reliable, well-regulated, and internationally recognised business entity. It has become increasingly apparent over recent years that software suppliers need to demonstrate to key stakeholders that they operate to high standards of corporate governance. As a result, we are seeing an increased amount of software providers, aggregators and resellers applying for an Isle of Man Software Supply License.
Ensuring Legal Compliance
The Software Supply License also serves to enforce compliance with the Isle of Man’s legal requirements. These regulations help to ensure the ethical conduct of businesses and create a level playing field within the industry. Licensed software suppliers are required to adhere to the principles of fairness, transparency, and security, thereby protecting the interests of all stakeholders.
Driving Business Growth
A Software Supply License from the Isle of Man can also significantly impact a company’s growth trajectory. It opens doors to new domestic and international business opportunities as other jurisdictions and potential partners recognise the value and credibility associated with this license.
A Commitment to Quality
Ultimately, securing a Software Supply License from the Isle of Man signifies a company’s commitment to quality, safety, and fair business practices. It offers a competitive edge in an ever-expanding global market, inspiring trust and confidence from clients, stakeholders, and industry partners alike.
In conclusion, an Isle of Man Software Supply License is a strategic asset that underlines a company’s credibility, instils trust among clients, assures legal compliance, and drives business growth. Acquiring this license is a crucial step for any software supplier aiming to excel in the global market.
For additional information, please visit Global Gaming Solutions website at www.globalgaming.solutions. If you wish to speak directly, please email Mark O’Neill, Director of Global Gaming Solutions, at [email protected].
Compliance Updates
Altenar celebrates Greek licence in landmark moment for business
Leading sportsbook goes live with full multi-product offering across key market
Altenar, a leading sportsbook and iGaming software provider, has obtained a B2B licence in Greece, expanding its outreach across another established European territory.
The company, which already has an office in Athens, has secured a licence from the Hellenic Gaming Commission, boosting Altenar’s presence in the country and adding a Greek licence to its already comprehensive portfolio.
Altenar’s expertise reaches more than 50 countries where gambling is legalised and the Greek licence, which is valid for seven years, paves the way for the company to offer its services in a new jurisdiction.
Since the introduction of the new regulatory framework, online betting in Greece has emerged as a success story, with the country undergoing robust growth, as market data shows tax revenues expected to reach €540,000,000 this year and the creation of numerous job opportunities.
Marina Zacharopoulou, Compliance Manager at Altenar, said: “The process of obtaining a licence for Altenar was rigorous, albeit familiar due to our experience with similar procedures in other jurisdictions. While we encountered typical challenges along the way, we navigated them smoothly.
“Achieving a Greek licence holds special significance for Altenar, as a considerable portion of our team is Greek, making it feel like a homecoming. Personally, I believe that Greece’s historical connection to games of chance, evident in the popularity of gambling in ancient times and the presence of deities like Tyche, adds cultural resonance to our licensure.
“Securing our presence in Greece through licensure not only demonstrates our commitment to regulatory compliance but also positions us to capitalise on the country’s expanding market.”
Compliance Updates
Novibet Announces Digital Compliance Partnership with W2 by FullCircl
Novibet, a global leader in online betting, has announced that it has selected FullCircl’s identity solutions platform, W2, as its new digital compliance partner. The partnership will help Novibet meet regulatory compliance requirements and ensure its customers gamble in a safe and secure environment.
The solution W2 has designed for Novibet strikes the perfect balance between compliance and customer engagement. A suite of Anti-Money Laundering (AML) solutions provides the bookmaker with access to global sanctions, Politically Exposed Persons (PEPs), and watchlist data from key jurisdictions across South America, North America, and the EU, through a single API access point. Screening millions of records per month for Novibet prevents money laundering at initial onboarding stage, through ongoing monitoring, and at point of transaction. This ensures a swift journey for Novibet’s ever-growing customer base, whilst protecting its reputation.
Giannis Papastamou, Head of Customer Compliance & Group MLRO at Novibet, said: “W2 came highly recommended by DTI Solutions, a leading cyber security integrator to the gambling industry. This collaboration underscores our dedication to maintaining the highest standards of regulatory compliance and ongoing player protection while delivering a seamless and secure gaming experience for our customers. Based on what we’ve seen so far, we’re already keen to explore ways to integrate more of the W2 product suite into our platform.”
Jess Whitehouse, Head of Customer Success, Identity Solutions at FullCircl commented: “We are delighted that Novibet has selected W2 by FullCircl. We’re providing them with a best practice approach to gambling compliance, including non-intrusive identity verification checks that balance the need for customer due diligence (CDD) with frictionless onboarding and superior player experience. I would also like to thank our trusted partner DTI for their role in bringing this partnership to fruition.”
Compliance Updates
A New Analysis by EGBA Reveals Notable Shift Towards Multi-licensing for Online Gambling Across Europe
A new analysis by EGBA concludes that 27 out of 31 European countries employ some form of multi-licensing for online gambling, with an overwhelming majority implementing a full multi-licensing approach.
In recent years, Europe has experienced a remarkable transformation in online gambling regulation. Just fifteen years ago, the landscape was vastly different. Most European countries lacked dedicated regulations for online gambling or operated under exclusive rights models where only state-owned entities had a monopoly to offer online gambling services.
But fast forward to today and the situation has evolved significantly. A new analysis by the European Gaming and Betting Association (EGBA) concludes that the multi-licensing model has become the predominant regulatory approach in Europe. Under this model, multiple companies are permitted to offer online gambling services within a country, provided they comply with strict regulatory obligations.
Key findings of the analysis:
- 27 out of 31 European countries have adopted some form of multi-licensing, indicating a robust trend towards open, competitive markets.
- Four countries currently do not have any form of multi-licensing: Finland, Iceland, and Norway maintain exclusive rights models, granting state-owned entities a monopoly over all online gambling services, while Luxembourg lacks dedicated regulations for online gambling.
- Of the 27 countries with multi-licensing, 23 countries have a full multi-licensing model for all regulated online gambling products in those countries.
- Four countries have a mixed model with partial multi-licensing: Slovenia and Switzerland each have a monopoly for online sports betting, while Austria and Poland each have a monopoly for online casino gaming and poker, with multi-licensing for all other online gambling products.
- Cyprus (casino gaming and poker) and France (casino gaming) each impose product-specific prohibitions but both have multi-licensing for all other regulated online gambling products.
- Finland is currently undergoing legislative reforms, and is expected to establish a multi-licensing framework for online gambling in 2026.
Maarten Haijer, Secretary General of EGBA, said: “The momentum towards full multi-licensing for online gambling in Europe is undeniable. While a few exceptions still exist, governments are concluding that public policy objectives, particularly related to consumer protection and tax generation, are more effectively met through well-regulated online competition. Finland’s current transition towards multi-licensing signals the impending end of the last online gambling monopoly in the EU, marking a significant regulatory milestone.
“Similar deliberations regarding the future of the online monopoly are inevitable in Norway and Iceland. Furthermore, the handful of countries with either partial monopolies or product prohibitions should strive for greater consistency and effectiveness in their policies by phasing these out. With over 15 years of regulatory experience in Europe, it’s clear that full multi-licensing offers the best pathway to enhance consumer protection, increase tax revenues, and ensure stronger regulatory control. The time has come for the last remaining European countries to embrace this optimal form of online regulation.”
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