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How Will the Changes to the Curacao License affect Online Gambling?

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How Will the Changes to the Curacao License affect Online Gambling?
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Due to the impact of diminished economic activity and the lockdowns, the tiny Dutch island in the Caribbean has found itself in financial troubles. Under the deal made with The Netherlands that will save its stability, it is forced to introduce changes to the Curacao license that will affect online gambling worldwide.

There are three major demands from the overseas sister country that will make the Curacao license be more alike to what is expected from countries in the EU:

1. Increased pricing for master licenses
2. Prevention of player targeting
3. Increased oversight and inspection

 

This will make the license somewhat harder to obtain, especially for new operators in developing nations that have been popping out recently. But, this will also make the license itself more valuable.

Part of the Economic Assistance Package
For many, the island of Curacao is considered to be a tax haven and benefiting from the fact that it is inside the Kingdom of The Netherlands, which is in the EU, but not itself being under EU restrictions and laws.

Not to mention that it is also a very picturesque Caribbean island that has the same standard as the mainland but much fewer gloomy days than Amsterdam or The Hague.

But, it is also reliant on the financial sector, tourism, and in good part oil refinement from Venezuela, all of which have halted to a degree in 2020. This forced the island to ask for assistance from the mainland.

This assistance is fairly lax and isn’t infringing on the territory’s autonomy. But, it does force some laws to coincide with EU standards that are in force in the Netherlands.

These rules include restrictions in banking, gambling, and service provision that can be seen as predatory. And while they will restrict business a bit, they aim to place more trust in Curacao-based companies.

Affecting other Local Markets
The change in rules will affect local markets globally, especially those that are connected with the island in the financial and online gambling sector.

Australia, which has the biggest gamblers per capita in the world, enjoys a lot of online gambling that is secured with the license from Curacao.

Similarly, Spain and the mainland Netherlands will be affected. Spain has a mix of gambling operators and financial services, as well as cultural ties between Curacao residence and the Spanish.

The Netherlands is not as impacted by online gambling as they already enforce a lot of these rules for local players. But, the financial sector in the country is looking down on this deal.

New Independent Regulatory Body
The first demand from the Netherlands inside the package is the formation of a new and proactive regulatory body that will not only issue the new licenses but also supervise that operators are following the rules stated under them.

Curacao is not in the Eurozone and uses the Antillean Guilder. But, the price of the new master license will be increased to ANG240.000, which is about $134.000 or 113 thousand Euros. This is a steep increase from the current $35.000 which are operators expected to pay.

But, the possibility of losing the license will force all operators to follow all rules and abide by higher gambling standards, making the license itself more valuable.

Additionally, there will be no possibility of underhanded 3rd party license acquisition by buying off a company with an existing permit, as breaking any rules will have it revoked.

Slightly Stricter Acquisition
Operators that want a Curacao license will now need to prove that they are financially capable of running an honest gambling business and paying out their jackpots and major prizes without delays.

Also, they will need to follow the EU standards that regulate privacy information by their customers. But, as most good operators were already doing this to gain access to European markets, such a change shouldn’t create a major impact.

Stop Player Targeting
Player targeting where large spenders are pushed to spend even more is forbidden under EU gambling regulation. Now, all holders of the Curacao license will need to have proactive tools that will prevent people from overspending.

Additionally, and changes to the player’s IP address and behavior will prong investigation to prevent any chance of data or identity theft.

Increase Oversight
Unlike before, the new Curacao agency will assume a more ‘hands-on’ approach to the license holders. Regular testing, inspections, and information requests will be made by the institution to ensure that everyone is following the new rules.

Looking more like Malta
Many have considered Curacao a ‘second-grade’ license compared to one provided by the Malta Gaming Commission because the European island-nation has been under EU laws since they were made.

But, with these deals in place, it is probable that the new rules will make the Curacao license more valuable and more alike to that from Malta. This will make the holders more trustworthy and will reassure the players that they are protected when gambling online.

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EGT Georgia to showcase latest iGaming developments at SBC Summit Tbilisi 2024

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EGT Georgia will participate in the upcoming SBC Summit Tbilisi, taking place on June 25 and 26. The company will present its newest iGaming products at stand A60.

Visitors will have the opportunity to explore a diverse array of online slot games from EGT Digital, which now includes over 100 titles available in more than 50 markets worldwide. Additionally, the in-house developed “all-in-one” betting platform X-Nave will be on display, featuring its four main modules: CRM Engine, Sports Product, Casino Aggregator, and Payment Gateway.

Each module can function as part of the comprehensive solution or operate independently, as they allow for integration with third-party developments.

“We are excited to welcome everyone who wants to enhance their business success and show them how our developments can help achieve that,” said Denis Karpovich, CTO at EGT Georgia.
In addition to exhibiting, the company will serve as a presenting partner at the event. Mr. Karpovich will moderate the session “TechFuel: Role of Technology in Market Development” on the second day of the conference.

He shared: “I am thrilled to moderate a discussion on such an engaging topic, exploring the practical applications of AI in improving customer experience and game development. The session will include compelling case studies from leading tech companies, and I am confident it will provide valuable insights for professionals in the sector.”

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INSPIRED DELIVERS BESPOKE GOLD CASH FREESPINS™ TITLE FOR BETFRED RETAIL

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Bonus and a gamble feature, this game promises excitement at every spin.
Reading Time: 2 minutes

Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading B2B provider of gaming content, systems, and solutions along with The Betfred Group, UK based bookmaker proudly announce the launch of Betfred Gold Cash Freespins™.

Immersing players in the atmosphere of Betfred’s distinctive style, Betfred Gold Cash Freespins is a 5-reel, 4-row, 40-win line slot adorned with Betfred-branded Wilds and symbols. Enhanced by a Free spins Bonus and a gamble feature, this game promises excitement at every spin. Triggering the Free Spins bonus requires three bonus symbols in a single spin, rewarding players with eight free spins.

Players have the opportunity to wager for additional Free Spins or to increase their cash winnings through the gamble feature. With a choice between two gamble wheels, players select their preferred wheel to activate this exciting feature. Featuring stacked Wilds on reels two, three, and four, these symbols act as substitutes for any other symbol on the reels, adding an element of excitement and anticipation to the gameplay.

Betfred Gold Cash Freespins seamlessly merges Betfred’s iconic branding with Inspired’s captivating gameplay from the Gold Cash Freespins theme, delivering an immersive and personalized gaming journey tailored to Betfred’s audience. This collaboration showcases Inspired’s expertise in crafting tailored gaming experiences that resonate with individual operator brands.

Inspired’s UK Product Director, Richard Terry, said:  ‘We are proud and excited to be re-launching Gold Cash Freespins in partnership with our long-term customers Betfred. Gold Cash Freespins is extremely popular with players across all gaming verticals and has been transformed for retail with game optimisation functionality and the addition of the iconic Betfred branding.

Speaking ahead of the launch, Betfred’s Head of Retail Marketing, Clare Smith, said: “We’ve been delighted to work with Inspired to bring this new and innovative game to our loyal customers and believe they will be equally as excited by it as we are!”

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Aviatrix and Games Global partnership cleared for takeoff

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Aviatrix has landed yet another content deal, this time with platform provider Games Global.
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Aviatrix, the fast-growing crash game featuring innovative engagement mechanics, has landed yet another content deal, this time with platform provider Games Global.

Aviatrix joins Games Global’s portfolio of world-class content and its distribution network, which reaches hundreds of iGaming brands worldwide.

It means players at Games Global’s operator partners will enjoy the most talked-about crash game on the market, complete with NFT-based engagement mechanics and regular updates.

Aviatrix regularly launches new features and functionality to keep the game fresh and exciting. These include free bets that can be accessed in-game via promo codes, and seasonal themes related to major events and celebrations, like St. Patrick’s Day or Euro 2024.

Mikalai Pobal, Co-founder and CBD at Aviatrix, said: “We really respect Games Global, because like Aviatrix, they’ve very quickly assembled a great team which is driving genuine innovation in our sector. We’ll continue to focus on delivering the very best experience to our players, now with the support of Games Global. We’re going to make fantastic partners.”

Andy Booth, Chief Product Officer at Games Global, said: “We constantly strive to offer operators the industry’s very best gaming content, bringing together the highest quality partner games to complement our exclusive portfolio. We’re thrilled to see Aviatrix take flight on our Games Global PLUS aggregation platform, elevating our third-party offering to new heights. The product really has been flying high since it launched, and we look forward to working with the Aviatrix team to ensure continued success.”

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