Connect with us
SOFTSWISS

Latest News

Self-exclusion Standards project launches consultation seeking broader industry input

Published

on

Self-exclusion Standards project launches consultation seeking broader industry input
Reading Time: 2 minutes

 

Casino Guru is proud to announce the commencement of the third stage of the Self-exclusion Standards project, an initiative led by Dr Margaret Carran, Associate Professor in Law and Associate Dean (Education) at the at The City Law School of City, University of London and sponsored by Casino Guru.
The Self-exclusion Standards project aims to identify the best practice in online gambling self-exclusion in order to help maximise the level of player protection and to help build a robust process of self-exclusion to enable such schemes to truly become an effective barrier between players who struggle with controlling their gambling habits and online gambling in general.
To arrive at a solution, the Self-exclusion Standards project embarked on a comprehensive journey, that fostered cooperation with international stakeholders to create a set of online self-exclusion recommendations that will be available for adoption across different jurisdictions. Previous stages included comprehensive research of existing evidence and a series of meetings of 10 international stakeholders with diverse expertise and experience with online self-exclusion.  To this end, the Self-exclusion Standards project is now entering its final stage, where it will explicitly seek broader consultations with online gambling stakeholders.
Dr.  Carran said of the final stage of the project: “Our draft set of recommendations is based on extensive deliberations of international experts and we believe that it presents the most optimal online self-exclusion code of practice for operators. We now need external feedback to drive inclusion, to gain broader input from all interested stakeholders, including international regulators and the industry to ensure that our final recommendations  could indeed be adopted globally for the benefit of players and the industry alike”. 
Ultimately, the project will culminate in a comprehensive paper consisting of the final Code for Online Self-Exclusion Practice that will be publicly available so it can serve as a reference point for the industry and other interested parties. The paper will assist in driving further research in this field, and will also serve as a stepping-stone for broader discussion about self-exclusion processes, and how existing practices can be re-examined and reinvented.
This final stage seeks broader collaboration specifically to obtain valuable and actionable feedback that can be leveraged to provide quality conclusions that help establish a robust set of recommendations, and that are based on the broader knowledge of the industry. 
This external feedback will help streamline the project’s efforts as it seeks to position itself firmly in the heart of industry as an efficient and effective tool. Consultation is open from now through to September 10, 2024. Preliminary findings will be presented at the EASG Conference 2024 and the final code due to be ready in January 2025.
Šimon Vincze, Casino Guru’s Sustainable and Safer Gambling Lead, noted: “We want to engage the broader industry to increase the impact and benefits of the project. A lot of good work stays on paper or in journals without usage in the real world. We want to change it by actively engaging with the industry.
Find out more about the Self-exclusion Standards project and respond to consultation on the project’s official page, part of the broader Global Self-Exclusion Initiative.
Casino Guru is an independent online casino resource that strongly focuses on leveraging factual and accurate data to inform consumer decisions in the gambling and iGaming industry. Casino Guru is committed to helping players make better-informed decisions and access responsible gambling resources through initiatives and campaigns aimed at the player and the broader gambling community.

Latest News

Critics Argue Australia’s Approach to Regulating Online Gambling is Becoming too Paternalistic

Published

on

Reading Time: 3 minutes

 

Online gambling has become a globally successful enterprise with enormous growth worldwide and new platforms popping up all the time. As a result of all that popularity among gambling enthusiasts, it’s become a delicate balancing act for Australian authorities whose regulation of the industry is caught between needing the tax revenue and wanting to protect all involved while trying to avoid losing out to offshore competitors in the process.

However, some view Australia’s continuing crackdown on online gambling as going too far and heading in a direction that will eventually kill the industry. With a myriad of enticing platforms all over the world, there are plenty of offshore platforms waiting to pick up the pieces if that happens. Australian players are always on the lookout for perks related to the speed of payouts or ones that provide the least restrictive experience. According to casino expert, Sergio Zammit, casinos that offer fast withdrawals can process payments within minutes or hours, rather than days or weeks.

On average, offshore sites can offer players these kinds of perks more often as they are subject to less paternalistic regulations. Add to the fact that many offshore sites now offer the latest craze from online casinos and it becomes clear why Australia is in a tricky spot when it comes to how harsh a direction it chooses to take its iGaming regulations in. That craze is crypto gambling and it allows players at real money online casinos to bet and play using cryptocurrency.

As perhaps one of the leading adopters of cryptocurrencies so far through this initiative, the iGaming industry has seen interest soar in crypto casinos. It isn’t rocket science to figure out why. These types of platforms feature virtually instant payouts and far less restrictive sign-up processes since they don’t have to adhere to Know Your Customer (KYC) policies or even ID verification in most instances. This is because crypto gambling, like anything cryptocurrency-related, utilizes transactions that are verified using blockchain technology.

The entire appeal of cryptocurrency and blockchain technology is that it’s able to produce a digital ledger that records transactions in a virtually immutable way that’s also free of central authority. As a result, in the online casino context, it can provide a far more private experience since transactions are recorded via pseudonyms, ensuring players can retain a degree of anonymity and discretion when playing. Add to that the fact that crypto casino platforms also often come with more generous welcome bonuses and feature provably fair gameplay and it becomes obvious why offshore platforms are becoming so popular all over the world.

In comparison, Australian online gambling platforms must adhere to strict guidelines in terms of following KYC and AML procedures and a myriad of other licensing requirements and rules that are aimed at harm reduction and strictly enforced. Many believe such a legislative regime is necessary to ensure fair play and responsible behavior from both the providers and players. However, others argue that it results in an overly paternalistic approach that is becoming fodder for offshore platforms that are more lax with their regulations, enabling them to keep lapping up Australian players in droves.

As a result, not only do Australia and many other first-world nations with progressive tax laws keep losing local players to offshore platforms, but they face losing higher and higher percentages of potential tax revenue that can amount to billions flowing out of the country too. When all of this is weighed against the harm reduction goals of Australia and other countries like it, it often doesn’t feel very worth it. This is likely because arguments against a nanny state stem from the fact that such a form of governance inherently creates a more stifling society, one where people will always gravitate toward behaviors that beckon them with the allure of a freer and less restrictive regime.

After all, nannies are meant to watch over and protect their wards, keeping them from harm at all costs. The problem is that nannies are meant to take care of babies and young children whereas state gambling laws are aimed at adults. Adults are meant to self-regulate, so keeping them from harm at all costs also means no personal responsibility or accountability need to ever be shown from their side.

Continue Reading

Latest News

CreedRoomz to Showcase at iGB Live Amsterdam 2024

Published

on

Reading Time: < 1 minute

CreedRoomz is thrilled to be part of iGB Live Amsterdam 2024, happening from July 16th to July 19th.

At iGB Live Amsterdam, CreedRoomz will showcase its latest gaming solutions aimed at enhancing player experiences and supporting operator success. Explore CreedRoomz’s diverse gaming portfolio, featuring a wide range of offerings tailored to meet the dynamic demands of the gaming industry.

Attendees will discover the live casino offerings including Generic API, Dedicated Tables & Studios, and land to live technologies designed to elevate gaming experiences. From classic favourites to innovative new games, CreedRoomz is committed to delivering exceptional gaming experiences.

Join CreedRoomz at Stand 12-B40 to explore exclusive previews of the company’s upcoming projects. Don’t miss the opportunity to connect with the team and explore potential partnerships.

Continue Reading

Central Europe

Navigating International Regulatory Landscapes: A Guide for Expanding iGaming Businesses

Published

on

Navigating International Regulatory Landscapes: A Guide for Expanding iGaming Businesses
Reading Time: 4 minutes

 

Boris Pashnev, CEO of Alpha Affiliates

Taking an iGaming business global opens up vast possibilities for expansion and progress. However, along with new markets and opportunities, comes the complex regulatory landscapes of different countries. To ensure a smooth and compliant expansion, businesses must familiarise themselves with international legal frameworks and understand regulatory considerations. Still, it is much easier said than done.

As a business working closely with iGaming brands, we at Alpha Affiliates have first hand experience expanding within these new regulatory landscapes. We have helped several iGaming operators and affiliates to grow their businesses and comply with the regulations in various jurisdictions. Moreover, in the last year, we have successfully expanded our own business into new geographical markets, including France, Italy, Belgium, Greece, Norway, Slovenia, Slovakia, and Hungary. This expansion not only broadened our global reach but also ensured a more comprehensive and inclusive gaming experience for iGaming enthusiasts worldwide.

This is the hope for many aspiring iGaming operators looking to go global. So, how can businesses successfully navigate new regulations when expanding their business globally?

 

Make regulation your team’s number one priority

In the iGaming world, regulations must be the cornerstone of your business strategy to going global. You need to go in with the mindset that it isn’t just about compliance – it’s about building a sustainable, reputable business. Only with this mindset, can you successfully launch an iGaming business, and develop long-term trust and support from regulators and consumers alike.

By making regulation your foundation, you’re sure to be on track for success. Of course, for any CEO, this starts by looking to the regulatory experts, and putting together a dedicated compliance team who can manage and advise on the regulatory landscape in the region you are looking to expand into.

For instance, in the case of licensing, operators should seek assistance from their in-house legal departments who can ensure licensing application requirements to be met and the corporate structure to be set up properly. 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.

By having a dedicated team focused on regulation, operators can confidently and consistently ensure their operations meet regulatory guidelines within new regions.

 

Remain flexible and embrace new frameworks

Regulation is always subject to review and change  – it’s a natural part of progress to ensure consumers, and businesses are better served and protected.

We saw this most recently with Curaçao’s new regulation known as the National Ordinance for Games of Chance, or LOK, which set out new requirements for anti-money laundering, fraud prevention and player protection. The LOK framework changes brought new change, and with that new considerations for iGaming operators to address. Operators had to reflect and adjust the ways in which they disclose certain information, ensure data protection, address anti-money laundering, privacy measures for gaming and monitoring tactics.

Alongside the regulatory changes, the licensing fees also increased, in order to foster a safer and more responsible environment. And the licensing process changed too. The Gaming Control Board (GCB) opened the new licensing portal on September 1st earlier last year, leaving iGaming companies with two options – to either apply for new licences and follow the regulations outlined in the LOK, or register as sublicensees.

This is a prime example of how quickly things can change, and the need to remain flexible and ready to adapt when expanding into different regions. To stay ahead, it’s important to conduct regular regulatory assessments, budget for potential increases in licensing fees and develop flexible systems that can adapt to new requirements.

Consider creating a regulatory roadmap for each market you’re entering and operating in, from the current requirements, anticipated changes, plus your strategy for addressing them.

 

Take responsibility: Prioritise player protection

Remember that any international authority or regulator will want to see that player protection is not only met, but prioritised. After all, responsible gaming isn’t just a regulatory requirement, it’s a business imperative.

Ensuring your operations develop comprehensive responsible gaming policies, including self-exclusion programmes, session time limits, and staff training in identifying and addressing problematic iGaming behaviours, will be key.

At Alpha Affiliates, we encourage users to act conscientiously by providing a safe and organised platform to advertise their offerings. We are committed to ensuring responsible gaming is upheld in our services globally and make sure to follow regulations, only expanding into regions in which iGaming is properly regulated.

It’s crucial to consider how you can improve your policies to better protect players – as this will be a number one concern for regulators internationally. We implement industry-standard measures for players who want to control their gambling habits. These include applying various limits on losses, deposits and bets. In addition, we make sure to display reminders for the amount of time spent in a casino and for players to take a step back to step away and cool off. I’d encourage other operators to do the same.

 

Be patient and carefully lay down the groundwork

Launching abroad successfully takes a well-thought-out and well-planned strategy. It also requires a lot of patience. “Getting your ducks in a row”, and laying down the groundwork will take time and intricate planning.

Starting the process early is important. When it comes to international expansion, regulation is a huge aspect that cannot be rushed. It can be all the difference in business success, and business failure. It requires rigorous due diligence to ensure all requirements are met, and all licensing documentation is ready.

By meticulously crafting and executing a regulation-first international expansion strategy, businesses can put themselves in the best possible footing for growth globally. Regulations are important across all sectors, but in the iGaming world where adhering to tight regulation is imperative, operators must make it the foundation of all business. The path to international expansion may be complex, but with the right approach, operators can capitalise on the exciting opportunities in new markets and drive remarkable growth.

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Advertisement
Stake.com
Advertisement
xbit4.com

Trending (Top 7)

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.