Industry News
Licensing in the iGaming Industry
The online casino gaming industry is going through the incorporation of creative and dynamic technologies. It will see rapid growth in the near future. In addition, the online gaming industry is popular with all demographics and is considered to be a profitable business model. If a casino has an online gaming licence, it permits them to partake in the following activities:
- Online casino
- eSports
- Sports betting
- Online Lotto
- Bingo
- Live table games
- Online Poker and many more.
An online gaming licence is essential when setting up an online gambling business. It regulates the online casino gaming world and protects both the customers and operators from any kind of fraudulent activities. We will discuss here in this article the best online casino gaming licence providers. You can check this link for more online casinos details. You can refer to this link here to find out more about the reputable writer of this website.
The Malta Gaming Authority
Malta is considered the gold standard of iGaming licensing. This authority has been issuing licences and regulating gaming since 2000. The significant benefits of acquiring a Malta licence are:
- Operating in EU jurisdiction.
- Favourable tax benefits, as low as 5%.
- Makes business easier with payment providers and banks.
Apart from the benefits mentioned above, the primary use is holding the prestigious Malta licence. It provides two types of licences:
- A B2B licence.
- A B2C licence for gaming operators allows them to operate an online gaming platform with a wide range of luck-based and skill games.
Curacao egaming
Curacao eGaming provides the most cost-effective, quickest, and hassle-free licensing process. For those who want to go live quickly and, at the same time, not invest a considerable amount of capital, this licence is the best option to choose. The Curacao license has a good reputation for being trustworthy and responsible. Undoubtedly, one of the best parts of acquiring this gambling licence is that the operators are not liable for tax on their revenue.
Kahnawake gaming licence
Since 1999 Kahnawake has been considered to be one of the most highly respected jurisdictions providing high standards of ethical gambling. It imposes fair and responsible gaming practices. It monitors and supervises its licensees, and that in turn provides a high level of protection to the players. The administration of Kahnawake increases confidence in business partners, allows a broader range of payment methods, and accesses more markets. Also, the cost involved in applying for this licence is relatively low, and holders do not incur any gaming tax.
Isle of Man gaming licence
The Isle of Man is the first to provide an online casino gaming license in Europe in the year 2001. The licensing jurisdiction is well-respected, strict, and reactive, as well as adhering to a high quality of professional ethics. Furthermore, it allows the licensees to enjoy a low gaming tax from 1.5% to 0.1% yield and 0% corporate tax on gaming. This jurisdiction provides a relatively straightforward process for license application which is beneficial for the licensees.
How to get a gambling licence
Here are a few steps you need to take for acquiring a license from the Gambling Commission:
- First, inquire about available licences and choose accordingly.
- Fill up the application form with essential documents that include personal details, proof of business plan, capital, details of the bank account, policies and procedures, terms and conditions, etc.
- Pay the application fee and wait for the processing.
- Lastly, receive your licence and start your online casino gaming platform. Along with these, make sure to pay the annual fee after receiving the licence.
Conclusion
Apart from the above-mentioned jurisdictions, there are some more reliable licensing authorities like the UK Gambling Commission, Costa Rica Gaming License, Alderney Gambling Control Commission, etc. Licensing procedures may differ, but they all have the same objective. That is to provide a safe, secure gaming and betting experience to all the players.
Industry News
SKS365 keeps investing in people: GROW People Management Program took the next level
11 experienced people managers from the SKS365 group’s 4 locations gathered last week in Belgrade for the new GROW People Management Program. From 15 th to 19 th of April, through trainings, discussions, and social connections, people had the opportunity to further grow individually and as a team, while enjoying Belgrade’s city center and rivers.
Created in 2023 with the purpose of building foundation people management skills across the organization, GROW initiative evolved this year by including a new, advanced program for experienced people managers to further consolidate their skills and prepare for future opportunities.
Building and fostering connections, sharing experiences, and enjoying team building experiences – all these activities have been part of the GROWpmp agenda for the 11 people managers coming from Commercial, Product and Development, Finance, and Sportsbook departments of the group’s 4 locations – Malta, Italy, Austria, Serbia.
GROWpmp included a variety of topics that people managers in SKS365 recognized as the key areas for management development. Topics such as influence through communication, team effectiveness, DEI, through to presentation skills and business topics like understanding finance and management reporting, were delivered with the support of external professionals and internal experts, while designed and organized by the SKS365 People & Culture team.
Industry News
Kindred’s Share of Revenue from High-risk Players Shows Slight Increase
Kindred Group plc’s (Kindred) share of revenue from high-risk players showed a slight increase to 3.2% (Q4 2023 3.1%) in the first quarter of 2024. Compared to the first quarter of 2023, the high-risk revenue share decreased marginally. The percentage of detected customers who exhibited improved behaviour after interventions came in at 87.1% (compared to 87.4% in Q4 2023 and 83.0% in Q1 2023). This sustained trajectory in the improvement effect after interventions, observed over an extended period, serves as a testament to the strong dedication and collective efforts throughout the company. It reflects Kindred’s ongoing commitment to fostering positive change within the industry.
“We continue to see our share of revenue from high-risk players fluctuate quarter to quarter, and we are working closely with all teams across the company to support customers towards a more sustainable gambling experience. However, it is encouraging to see that our Journey towards Zero data has steadily decreased since 2020. A similar trend can be seen across the healthier gambling behaviour effect after interventions. This tells us two things: our work is paying off, but we need to continue to push ourselves to propel a sustainable progression,” Alexander Westrell, Director of Communications at Kindred Group, said.
“It was very encouraging to witness the open and transparent discussions at the Sustainable Gambling Conference in London on 20 March, where those with lived experience shared their important stories. Also, it is evident that technology is moving forward, and will provide greater opportunities to detect and intervene in the future. We hope to see more regulators engage with the industry and with experts to secure a more sustainable industry for everyone,” Alexander Westrell added.
Industry News
PENN Entertainment Names Aaron LaBerge as Chief Technology Officer
PENN Entertainment announced that Aaron LaBerge has been named Chief Technology Officer (CTO) effective July 1, 2024, subject to customary regulatory approvals. Mr. LaBerge will report directly to PENN CEO & President Jay Snowden.
In his new role, Mr. LaBerge will be responsible for driving the technology strategy and execution for PENN, while leading the multinational team of technologists and serving as the key business leader for the company’s Interactive division.
Mr. LaBerge spent more than 20 years at The Walt Disney Company, in two stints separated by five and a half years as a technology entrepreneur. He was most recently President & Chief Technology Officer for Disney Entertainment and ESPN where he was responsible for driving all technology and product development in support of The Walt Disney Company’s two media divisions. In that role, he helped set the vision and strategic leadership for how Disney uses technology to enable storytelling and innovation, drive its business, and create unparalleled consumer experiences with entertainment and sports content.
“We are thrilled to have someone of Aaron’s caliber join our PENN executive team. Having overseen a global organization of thousands of engineers, product developers, designers, technologists, and data scientists that created some of the largest scale and most successful media properties in the world, there is no better candidate to lead our Technology and Interactive division into its future. I know Aaron is looking forward to working with Todd George, our head of operations, and our entire Executive Team to continue growing our position as a leader in online gaming, sports betting, and digital sports media,” Mr. Snowden said.
“I’m excited to join another talented team at PENN Interactive and lead our technology strategy. PENN Entertainment is at the forefront of the fast-changing gaming and sports media industry. I plan to use my experience from Disney and ESPN to help make ESPN BET an essential piece of the sports fan experience. Together, we’ll push the limits and redefine how fans interact with sports and gaming,” Mr. LaBerge said.
Prior to his most recent role at the Walt Disney Company, Mr. LaBerge was Executive Vice President and Chief Technology Officer at ESPN from 2015 to 2018. At ESPN he played an instrumental role in the growth of ESPN’s consumer-facing digital media products and services – leading many of ESPN’s most ambitious and challenging projects and helping establish ESPN’s position as the leader in digital sports and innovative sports technology development. He was a key architect in the design, development, and engineering of ESPN’s state-of-the-art facilities in Bristol, CT; Los Angeles, CA; Charlotte, NC; and Austin, TX, as well as data centers and infrastructure that connect those facilities around the world, as well as the technology design and development to support the launch of the multi-platform SEC Network.
Between 2007 and 2012, LaBerge was co-founder and CEO of Fanzter, Inc. – a venture-funded consumer software and digital product development company. At Fanzter, he directed all day-to-day operations and led the development and launch of a variety of consumer-focused internet and mobile products, ground-breaking social and commerce technologies and more.
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