Affiliate Industry

How can iGaming operators navigate Curaçao’s new gaming law?

Published

6 months ago

October 26, 2023

George Miller

How can iGaming operators navigate Curaçao's new gaming law?

Reading Time: 4 minutes

By: Alexandra is Chief Legal Officer at Alpha Affiliates.

She joined the company in 2020 after gaining considerable experience in international market research and HR outsourcing companies. No deal or event takes place without her involvement and assistance, from minor to the most critical. Alexandra is responsible for a wide range of legal issues related to the gambling and affiliate marketing industry, including regulatory compliance, licensing, contract drafting, dispute resolution, and other juridical matters.

Thanks to its licensing system, Curaçao has long fostered a business-friendly environment for iGaming companies, in which they can operate and thrive. That being said, the existing regulatory framework is being scrutinised for not adhering to international standards. As such, the government is conducting an entire overhaul of the current regulations, and instituting an updated version known as the National Ordinance for Games of Chance, or LOK, which will come into force in the first three months of 2024.

With it comes the Curacao Authority (CGA), which is an entirely new regulatory body responsible for enforcing the guidelines, including compliance, imposing sanctions, introducing new policies and issuing any necessary licenses. Overall, the new regulations will introduce harsher requirements for anti-money laundering, fraud prevention and player protection.

What effect will the new changes have?

As with any new law or legislation, the affected bodies will have a time frame in which to familiarise themselves with the changes and adjust, or face certain repercussions such as non-compliance fines. The LOK framework changes affect the ways in which operators disclose certain information, ensure data protection, address anti-money laundering, privacy measures for gaming and monitoring tactics.

Disclosure procedures: The updated regulations require operators to disclose their beneficiaries and provide proof of identity and evidence of where their funding is sourced from.

Data Protection: Operators must have the correct measures in place to assure users their data is secure and protected from unauthorised access and misuse.

Anti-money laundering: As gaming sites can often be a gateway for money laundering, under the LOK, operators must have the right policies and follow robust procedures to reduce and ultimately prevent this type of activity.

Privacy for players: iGaming companies will need to provide more transparency in their services, while still respecting their players’ rights and privacy. In order to do so they must invest in responsible gaming tools and support, to provide a safe environment for their players to operate in.

Monitoring: Any suspicious transactions or fraudulent activities will need to be immediately reported to the CGA to reduce their occurrence and mitigate any potential consequences.

Prices for licensing

Alongside the regulatory changes, the licensing fees will also increase, in order to foster a safer and more responsible environment. Starting next year, the proposed fee payable for companies wanting a license to operate will be $5,000. On top of this, operators will pay an extra $340 per qualified person and $275 per UBO. For B2C companies, the Annual License fee will decrease from $66,000 to $25,000 and there will be no GPT tax. Finally, licensed iGaming companies will be expected to pay a gaming contribution of $26,500 to the CGA.

In order for the licensing application requirements to be met and the corporate structure to be set up properly, operators should seek assistance from their in-house legal departments. This way they can prevent making any mistakes when switching their operations to comply with the new guidelines and ensure that they set up a well equipped and responsible environment for their players.

Applying for a license

The Gaming Control Board (GCB) opened the new licensing portal on September 1st earlier this year, leaving iGaming companies with two options. They can either apply for new licenses and follow the regulations outlined in the LOK, or they can register as sublicensees. What do both of these options look like?

Purchasing a new license: Those operators looking to apply for a new license must evaluate their existing corporate structure and assure themselves they are able to fulfill the requirements outlined in the LOK. Despite new applications being reviewed under the current legislation, they must still comply with the updated guidelines in order to qualify.

In order to do so, companies should be conducting financial and technical reports on their operators and review any responsible gambling measures. By having the correct and detailed documents, they’ll be able to demonstrate their compliance to the new regulations, and as such, will be granted a new license.

Applications will be accepted from the 15th November 2023 onwards, and if successful, applicants will receive a provisional license to operate. This will last them until the LOK comes into full effect, they will be automatically transferred and have the ability to offer their services online within Curaçao and other LOK jurisdictions.

Registering as a sublicensee: Operators that were issued a license under the old regime will have a set period of time to register for a full license before their sub-licenses expire. So, while under the new law, their current licenses are valid for a year after the LOK is enacted, they will have to purchase a license within 90 days following their extension in order to keep operating.

With the increasing popularity of iGaming, it is vital that its operators maintain a responsible and supportive environment for players. As such, the new LOK regulations should not be seen as an inconvenience. At Alpha Affiliates we are required to comply with regulations. As an operator ourselves, we must make sure to understand the changes and remain competitive within our markets and continue working with affiliates and iGaming partners.

Not only are these new guidelines vital for companies to continue their current operations, but they are also an opportunity for development and respect from the international gaming community. As long as operators stay on top of the monitoring and analysis, they will be able to continue functioning as normal, while strengthening their business in the long run.

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Affiliate Industry

47 New Brands in Q1’24: Affilka by SOFTSWISS Results

Published

2 weeks ago

April 19, 2024

George Miller

47 New Brands in Q1’24: Affilka by SOFTSWISS Results

Reading Time: 3 minutes

Affilka by SOFTSWISS, a leading affiliate management software provider, is approaching a new milestone of 360 brands in Q1’24.

The first quarter of the year brought remarkable achievements to the Affilka by SOFTSWISS team. The Asian gaming community recognised the company’s affiliate management software as the Best Affiliate Marketing Solution on the market.

This year, Affilka’s team participated in iGB Affiliate London 2024 with a dedicated stand for the first time. During the concurrent iGB and ICE events, the team had nearly 200 meetings over several days. First agreements quickly followed and were signed shortly after the exhibition period.

Affilka by SOFTSWISS experienced substantial growth, adding 47 new brands to its partner network, bringing the total to nearly 360 brands in Q1 2024. More than 33 thousand new affiliate accounts were registered during this period, marking a 118% increase compared to the previous year’s last quarter.

The rise in new affiliate accounts has led to an acceleration in new player registrations, exceeding 7.4 million over the first quarter of the year. Compared to the last quarter of 2023, this metric demonstrated a 106% increase.

The number of unique clicks on referral links with Affilka by SOFTSWISS during this period showed 115% growth and reached almost 436 million in absolute numbers. The rising metrics underscore the crucial role of effective affiliate management in achieving success within the iGaming industry.

Moving to the financial metrics of Affilka by SOFTSWISS, stable growth is evident over the first quarter of 2024 compared to the last quarter of 2023. The affiliate GGR revealed a 112% increase, while the player deposit amount showed a 113% enlargement. The growth within affiliate payments amounted to 117% in Q1’24 compared to the previous quarter.

Anastasia Borovaya, Head of Affilka by SOFTSWISS, summarises: “The recent product performance showcases a steady and continuous growth trajectory, a testament to our ongoing investment in innovation and user experience enhancement. Acknowledging affiliate marketing’s crucial role in the iGaming ecosystem, we prioritise delivering exceptional service to exceed our clients’ expectations.”

The global affiliate marketing industry is expected to double in size within the next five years. Finding a reliable affiliate marketing platform provider ensures a competitive edge in the rapidly expanding market.

The team is ready to share valuable industry insights and unveil the upcoming updates at the SiGMA Americas Summit in San Paulo on 23–25 April. Clients and potential partners can book a meeting with the Affilka team at stand i70 on the SOFTSWISS events page.

About SOFTSWISS

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

Affiliate Industry

StatsDrone data reveals MyAffiliates as the most used affiliate marketing software by the iGaming industry

Published

3 weeks ago

April 11, 2024

Wladimir P.

Reading Time: 2 minutes

New research from StatsDrone – the affiliate programme stats tracker – today, Thursday 11 April, unveils MyAffiliates as the most used affiliate marketing software in the gaming industry.

The research was conducted this month – April 2024 – on a sample of 1,100 affiliate programs with the latest StatsDrone data revealing that MyAffiliates is used by almost 16% of gaming operators, followed by Affilka (11.8%), Income Access (10.5%) and NetRefer (7.8%).

MyAffiliates is an established affiliate marketing software platform, empowering iGaming operators to combine all of their gaming brands and products under one umbrella affiliate system. It has been in operation since 2007.

The findings of the latest research, affirms MyAffiliates’ position as the preferred choice among gaming operators and, with nearly 16% of operators utilizing its software, has today cemented its position as a market leader.

Furthermore, with 17% of gaming operators still relying on proprietary software, the potential for solutions such as MyAffiliates is significant. As a ready-built solution, MyAffiliates seeks to further expand their market share and empower more operators to optimize their affiliate marketing strategies.

John Wright, CEO of StatsDrone, expressed his insights regarding MyAffiliates’ dominance in the iGaming industry, stating, “We know that MyAffiliates has an advanced platform for operators and is one of the reasons we know that MyAffiliates has become the most popular affiliate platform in iGaming. We hear from affiliates it is one of their preferred platforms to work with so, for us, it isn’t much of a surprise to see why operators choose MyAffiliates. In the last 6 months, we’ve noticed more MyAffiliates brands being requested on our platform, and I can’t see why that trend won’t continue.“

Clemence Dujardin, MyAffiliates Group CEO comments: “Considering this significant milestone, we at MyAffiliates extend our heartfelt gratitude to our clients and partners for their unwavering trust and support. This achievement underscores not only the effectiveness of the MyAffiliates platform but also the dedication of our team to continually innovate and provide unparalleled service to our users.” She added, “As the leading affiliate marketing software in the iGaming industry, MyAffiliates remains committed to delivering cutting-edge solutions that empower gaming operators to maximize their affiliate programs’ performance and ROI.”

Affiliate Industry

Affilka by SOFTSWISS Announces Partnership with 10bet

Published

4 weeks ago

April 5, 2024

George Miller

Affilka by SOFTSWISS Announces Partnership with 10bet

Reading Time: 2 minutes

Affilka by SOFTSWISS, a leading provider of affiliate tracking software for the iGaming industry, announces a new collaboration with 10bet, a prominent player in the iGaming realm.

10bet operates in diverse markets, including Europe, LatAm, and Africa. Offering both casino and sportsbook solutions, 10bet brings over 20 years of global experience and expertise to the table.

This partnership marks a significant milestone for both companies as they join forces to enhance affiliate marketing strategies and expand their market reach. 10bet has already launched seven brands through the collaboration with Affilka by SOFTSWISS. Five of these brands were successfully migrated, while two were created from scratch, with another one to follow shortly.

Notably, 10bet made a strategic decision to transition from third-party software to leverage the advanced features and tailored solutions offered by Affilka by SOFTSWISS. Thanks to a designated Project Manager in the 10bet team, the integration process was smooth and seamless. Allocating a single point of contact is crucial to ensure effective migration and ongoing success.

“We are delighted to partner with Affilka by SOFTSWISS,” says Yotam Peretz, VP of Acquisition at 10bet. “The platform provides us flexibility, reliability, and personalised support. That’s exactly what we need to optimise our affiliate programs and drive growth in our target markets. I’m sure this collaboration marks the beginning of an exciting and successful journey.”

Angelika Antonova, Head of Sales at Affilka by SOFTSWISS, comments on the recent partnership: “This migration serves as further validation of Affilka’s superiority over existing solutions in the market, highlighting its distinct advantages. We are happy to welcome 10bet to the Affilka family. This partnership signifies our shared vision for excellence in affiliate marketing. We look forward to collaborating with the 10bet team to deliver outstanding results and unlock new opportunities in the dynamic iGaming landscape.”

Affilka by SOFTSWISS is ready to present valuable industry insights and unveil the upcoming reporting system updates at the SiGMA Americas Summit in San Paulo on 23–25 April. Clients and potential partners can book a meeting with the Affilka team at stand i70 on the SOFTSWISS events page.

About SOFTSWISS