Bingo Paradise has set a new benchmark for success, achieving its best quarterly performance ever in Q3 2024. This milestone was driven by a remarkable increase in first-time depositors (FTDs), underscoring the platform’s ability to deliver outstanding results in the UK iGaming market. The growth reflects the affiliate’s dedication to transparency, compliance, and creating value for players and operators alike.

“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”

The 65.24% year-on-year growth in FTDs compared to Q3 2023 is a clear testament to the affiliate’s ability to adapt to the evolving needs of the market. Bingo Paradise’s honest, detailed reviews have played a crucial role in this success, helping players make informed choices while ensuring that all content meets the stringent requirements set by the CAP Code. Its compliance manager works diligently to ensure the platform operates at the highest standards.

Exclusive and personalised offers have also been pivotal to the platform’s appeal. By partnering with UKGC-licensed operators, Bingo Paradise is able to promote deals that provide genuine value to players. These partnerships reinforce the platform’s reputation as a trusted resource for players and a dependable affiliate partner for operators.

This record-breaking quarter highlights Bingo Paradise’s capacity for innovation and growth. The company’s success lies in its ability to balance player needs with operator expectations, delivering results that benefit all stakeholders. As the iGaming market continues to evolve, Bingo Paradise is well-positioned to maintain its leadership and build on its impressive Q3 performance.

The Gaming Control Board (GCB) took notice of a recent complaint made regarding the National Ordinance on Games of Chance (LOK) reform process and the integrity of Curaçao’s licensing regime and wishes to state as follows.

Authority to issue licenses

In pursuance of the National Ordinance on Hazard Games (NOOGH), the Governor is authorized to grant licenses for operating hazard games on the international market via service line providers. This authority was mandated to the Minister of Finance in December 2019, who subsequently mandated this authority to the GCB in March 2020, followed by an amendment in November of 2023. Hence, the GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licenses, as well as attach terms and conditions to licenses. The allegation that the GCB lacks the legal authority to grant license is therefore incorrect.

The licenses granted on the basis of the NOOGH are not provisional licenses. Any applicant whose application is approved will be issued a license.

When the new regulatory framework (LOK) is enacted and comes into force, NOOGH license holders will automatically be granted a provisional license based on the LOK. This allows them up to one year to comply fully with all LOK requirements as a transition period.

Comprehensive Licensing Process

Under the current regime, GCB has established a multi-phase license assessment process.

License applications undergo completeness checks for the required documents, due diligence on decision-makers including sanction screening, review of the business plan and initial evaluation of the websites.

At each stage, communication with the applicant is facilitated via the GCB online portal resulting in absolute transparency, and real-time checklists are available to every single applicant.

This assessment process concludes with a report, based upon which the GCB executive team decides whether to grant or deny a license. The applicant can follow this process through the portal. The application and monitoring processes are largely manual but are supported by technology. Currently, there is little to no use of AI by the GCB, although going forward it would be remiss not to incorporate emerging technologies where it adds value. This licensing process is managed by the GCB with the support of its team of advisors.

Fee Payment

Once licenses are approved, invoices are issued by the GCB and the operators pay their fees directly into an official government bank account and not via the online gaming portal. There is no scope for mismanagement. The assertion that funds may have been embezzled is therefore not correct. Once the payment has been received the license will be granted by the GCB.

Foreign Violations

Operators are responsible for ensuring compliance with the legal requirements of all jurisdictions in which they operate. Violations are addressed by competent foreign authorities. The GCB does not have the jurisdiction to oversee or intervene in alleged breaches of foreign regulations. In this context, the GCB relies on formal decisions issued by competent foreign authorities. Enforcement actions taken by the GCB depend on factors such as the severity of the violation.

Player Complaints

Player complaints handling is the responsibility of the online operators, based on their terms and conditions, which are reviewed by the GCB. Under the LOK, Alternative Dispute Resolution (ADR) will be made mandatory to ensure more independent evaluations. Complaints received from players and future reports from ADR entities will be used as inputs in the GCB’s risk-based supervision process.

Experienced Team

In the interest of effectively implementing the new policy, the GCB collaborates with global experts, including reputable consultants with extensive experience in regulated gaming jurisdictions. All these engagements are in compliance with GCB’s internal policies.

Bankruptcy Declaration: BC.Game

Due to confidentiality obligations, the GCB will not comment on specific details of this case. The issue involves a dispute between the website (BC.Game) and certain players. Bankruptcy was declared because Small House/Blockdance failed to pay players due to the dispute, leading to the court’s declaration of bankruptcy. However, this bankruptcy is administrative (based on a civil law statute in Curacao) and is not due to insolvency. A trustee has been appointed to handle the estate and ensure payments to players. The GCB is consulting with the regulated entity involved to determine appropriate regulatory measures.

SPAYZ.io, a leading global payments platform, made waves at SiGMA Malta 2024 by introducing a suite of innovative payment solutions designed to empower businesses in emerging and high-growth markets. The event provided a platform for SPAYZ.io’s dedicated team to connect with over 30 current and prospective partners, ranging from startups looking to scale to mid-sized and global enterprises seeking expansion into untapped regions.

The SPAYZ.io team conducted live demonstrations, explored collaboration opportunities, and highlighted its comprehensive payment solutions tailored for businesses targeting high-potential markets. The platform’s Open Banking solution attracted significant interest, particularly for its seamless access to high-demand markets in Europe, regions recognized for their exceptional growth potential.

Key takeaways from the conference included strong appetite for SPAYZ.io’s Open Banking solution and its access to high in demand Europe countries which offer significant growth opportunities. SPAYZ.io also noted a strong interest in payment access in African and Asian countries.

These included India (UPI P2P/UPI P2C), Pakistan (Eazypaisa, JazzCash, Bank Transfers), Bangladesh (Nagad, Bkash), Thailand  (QR Code Payments, Online Banking), Malaysia (Online Banking, E-wallets) and Kenya (M-Pesa).

Looking ahead, SPAYZ.io will be making regular appearances at similar industry events in the coming year, as it looks to strike relationships with new clients and partners.

Dmitrii S, Head of Strategic Partnerships at SPAYZ.io, reflected on the event’s success: “Our presence at SiGMA Malta came at a pivotal moment for SPAYZ.io. We’ve been expanding our platform with cutting-edge payment technologies, targeting new geographic markets, and building robust payment bridges that enable our partners to thrive in these regions.“

“The event provided a fantastic opportunity to connect with a dynamic audience of industry professionals. We saw substantial interest in our Open Banking solutions, customized payment methods, and our strategic focus on emerging markets in Europe. These are key areas of growth we’ll be advancing in the year ahead.“

“We’re excited to showcase our progress at future events and would like to extend our gratitude to everyone we connected with at SiGMA Malta. For those who couldn’t join us, I encourage you to reach out and discover how SPAYZ.io can drive your business forward as part of our growing strategic network.”

With a decade of experience in the fintech industry, regulated iGaming, and Forex industries/businesses, SPAYZ.io has rapidly emerged as one of the world’s fastest-growing payment providers, delivering seamless, localized payment solutions across Asia, Africa, and Europe. By integrating technologies such as

Open Banking, SPAYZ.io enables businesses to access untapped markets while offering tailored payment experiences that cater to diverse customer needs.