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Compliance Updates

The role of tech in compliance

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The role of tech in compliance

 

The development of tech is an important part of compliance, and Compliable is at the forefront of recent advances and how it can aid regulators. Compliable’s CEO, Chris Oltyan, discusses upcoming enhancements to the Compliable platform from a tech perspective

The gambling industry is heavily reliant on tech in product development, is tech however being underutilised from a compliance point of view and what pitfalls can be avoided by tech?

Useful technology takes time and expertise to build, and we are really seeing the first wave of solutions hitting the market now. We needed experts to know how to deal with the new realities of compliance in a fast-moving multi-jurisdictional setting, and then tech entrepreneurs to deliver solutions with those experts. After all, you can’t use tech to solve problems unless you really understand the problems you are trying to solve. The problems best suited for technology to solve are things that humans must do over and over again, in a painfully repetitive process. In particular, if you look at the evolution of most tech tools, it starts with creating a manual process to manage a task, and usually ends with a complicated spreadsheet that someone will invariably forget to update. This then leads to outsourcing to a company that will use software to keep track of all the details. Filling out forms is a great example of a place where a repetitive but high value task can cause serious issues if it is done wrong. There are always exceptions, but if 90% of things are automated it frees up the workforce to deal with the difficult stuff.

Are regulators exploring tech advancements enough and is there more the industry can do to support regulators, especially with the fast evolution of online gambling regulation in the US?

The short answer is no, but that is unfair to the regulators. Regulators are often given incredibly tight timelines to go live with igaming and sports betting, and that doesn’t afford great options for exploring the incredibly vast world of technology. Add to that the fact that few industry specific technological solutions exist and it’s no surprise that a regulator moves forward with whatever they have on hand. The industry can absolutely help regulators solve these problems. Industry associations IAGA and IAGR helped to establish the Multi-Jurisdictional Personal History Disclosure Form (MJPHD) but developing additional standards could really help the adoption of practices that would allow technology to be used more broadly in the space. I’m not even talking about getting jurisdictions to agree on standard forms or naming as finding ways for states to adopt standards around digital fingerprints could dramatically improve efficiency for the entire industry. Also, I think the industry must be sensitive to the fact that regulators are often tied to their respective legislation. Finding ways for states to have both flexibility and security is hard with new technologies, but we should be working collectively as an industry to find ways and define standards that meet everyone’s needs.

Is there a danger of relying too much on tech as legislation and regulation further advances?

There have definitely been cases where an early technology seemed like a slam dunk but ended up causing problems because it got locked into the official regulatory framework. To avoid this, adopting industry wide standards for tech implementations allows healthy competition while still providing an optimized path forward. If every regulator adopts different technologies to enforce compliance, the burden to the industry to support and accommodate every one of those platforms becomes untenable.

Compliable started off offering a module to license customer support and engineering staff, with the offering now being expanded to include business entities, executives, and board members. Where have the challenges been in building your platform?

The hardest part of developing our platform was simply all the variance in what the regulators ask for. Getting a computer to fill out forms isn’t hard. The complicated part is getting something that can recognize the hundreds of questions regulators ask, figure out the commonalities, capture that data elegantly, and intelligently use it to fill in forms so we can collect data once and then allow that to be used across a wide set of jurisdictions. Now that we have that in place it’s just rolling out new features every couple of days. There is such a clear direction we have from our customers that our roadmap pretty much plans itself, and we just try to keep up with the demand.

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What else can we expect from Compliable going forward?

Licensing compliance doesn’t stop with filling out a form and our goal is to make the entire process as easy as possible for our customers. There are so many things that a company needs to track on compliance that can dramatically impact their business so licences shouldn’t be the thing that takes up all their time. From onboarding new employees and directors, to applying for new jurisdictions, to tracking renewals, to submitting electronically to a regulator so you don’t have to print out a small forest worth of applications, we believe we can provide automation across the entire chain. Also, expect us to continue to have new jurisdictions supported on the platform within days of the forms being published, because the industry doesn’t seem to be slowing down its expansion across the US anytime soon.

Canada

BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity

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BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

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Compliance Updates

Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

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Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

 

Media Troopers, a leading digital marketing agency specializing in sports betting and iGaming, has marked its two-year anniversary in promoting sports betting in Colorado as a vendor licensed by the state.

Shmulik Segal, CEO of Media Troopers said: “We are very proud of this renewal, as it marks a milestone of two successful years of growth and commitment to the State of Colorado.”

Colorado’s Division of Gaming has renewed Media Troopers’ vendor license, allowing the company to promote sports betting offers for its customers until January 2027.

“Receiving a new license and debuting in a state is always exciting, but it is where the hard work begins,” Segal added. “So I am proud to celebrate two successful years of hard work and dedication in promoting safe and reponsible gaming for our Colorado partners such as BetMGM, bet365, and BetFanatics.”

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Compliance Updates

Digitain Group Products are Certified for Brazil

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Digitain Group Products are Certified for Brazil

 

Digitain among the first game and software suppliers to successfully meet Brazil’s new regulatory standards.

Digitain, a leading provider of sportsbook and casino platform solutions, is proud to announce that it is among the first game and software suppliers to successfully meet Brazil’s new regulatory standards.

The Brazilian gaming market is undergoing a significant transformation. With new regulations in place, gaming operators and providers must adapt quickly to meet these evolving requirements. This achievement underscores Digitain’s commitment to delivering high-quality gaming products and ensuring full compliance with local laws and regulations, allowing our partners to continue their operations seamlessly.

Arshak Muradyan, Digitain Group’s Chief Compliance Officer, stated, “Brazil’s gaming industry has witnessed rapid growth over the past few years, with more attention given to regulating and managing this fast-evolving market. In 2024, Brazil introduced stricter rules for gaming providers, including new certification requirements, enhanced player protection measures, and tighter oversight of both games and operators. The certification process, conducted by an authorised testing laboratory of GLI (Gaming Laboratories International), ensures that our products meet the high standards of quality and fairness mandated by Brazilian regulators.”

Ani Mkrtchyan, Chief Sales Officer of Digitain Group, said, “As a company operating on the global stage, Digitain Group has consistently recognised the importance of regulatory compliance. This is why we’ve acted swiftly to meet the new requirements set out by Brazil’s regulatory authorities, positioning ourselves as one of the first companies to successfully navigate this evolving landscape.”

“Digitain Group’s success in securing certification for the Brazilian market is a significant milestone, and we’re proud to be among the first to meet these new regulatory standards. By adhering to the highest standards of compliance, we ensure the integrity of the industry and position ourselves and our partners for continued success in one of the world’s fastest-growing gaming markets.”

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