Compliance Updates
Reg-tech – Easing the burden on compliance teams
Greg Ponesse, Chief Revenue Officer at Compliable
The year is coming to an end, and we can look back at an interesting 12 months that have seen the US betting and gaming landscape further expand into three new states, Vermont, North Carolina and Kentucky.
The American Gaming Association (AGA) recently released numbers that showed commercial gaming revenue was boosted in Q2 of 2023, hitting a record of $16.07bn. The impressive results marked the 10th consecutive quarter of growth for the industry.
Yet, some operators have had to navigate through choppy waters, with news stories from the last 18 months including Churchill Downs, MaximBet, PlayUp, Fubo, FOX Bet and WynnBet closing or pulling out of states as they struggle with profitability.
Sports betting, the main legalized vertical in the US, is such a low margin business that the ability to save money anywhere in operations is so important. Competition is extremely high, and the sports betting markets in the majority of legalized states have been dominated by a handful of behemoths such as DraftKings and FanDuel.
While these operators have large compliance teams to cope with the fragmented regulatory landscape that exists across states in the US, smaller to medium-sized companies have fewer resources to handle ever-changing regulations while also preparing for new states opening up.
Historically, if not handled by an internal team of compliance staff, regulatory issues were simply given to outside counsel with their associated high legal fees. Furthermore, overstressed smaller compliance teams leave room for mistakes as a result of human error which can lead to large regulatory fines.
The number of reg tech solutions now available in the gambling space can be hugely beneficial and can drive down costs in a number of ways, with one of the major advantages being that companies can benefit from compliance work that is being done in one market across similar jurisdictions.
Despite a lack of common regulatory approaches in legalized US states, there are still many similar obligations, and with technology, the process to complete these tasks can be automated. Licensing of employees and reporting of revenues or other data are common compliance duties that most regulators require. This type of requirement can easily be handled by technology rather than employees, significantly increasing efficiency, and freeing the team to focus on higher level problems which can be critically important when launching in new jurisdictions.
Simply put, reg tech allows a smaller team to operate with the same skills and efficiency as a much larger team and can help cut costs while still maintaining operational compliance.
Even if fewer US markets are currently opening up compared with a few years ago, successful gambling operators and suppliers are targeting multiple states at a minimum. We have passed the point where any one person can be an expert on every gambling jurisdiction’s requirements and tech is a necessary component to help manage the processes.
As 2024 is approaching, we will see further regulatory developments in the US betting and gaming space and more consolidation cannot be ruled out as operators grapple with being profitable in a hyper competitive sector.
Reg tech can play an important part, cutting costs while streamlining and simplifying processes and procedures, helping operators to succeed in the exciting US market.
Compliance Updates
MGCB Issues Cease-and-Desist Orders to Six Illegal Gambling Sites Targeting Michigan Players
The Michigan Gaming Control Board (MGCB) has issued cease-and-desist letters to six unlicensed online gambling platforms attempting to target Michigan residents without state authorization. The action underscores the MGCB’s relentless, ongoing efforts to shut down illegal gambling operations and protect Michigan consumers from financial risk, identity theft, and unfair play.
The targeted sites—Crypto Slots, NitroBetting, NewVegas, Las Vegas USA Casino, Grand Rush Casino, and Slotgard Casino—were found to be operating in violation of Michigan laws that require licensure for internet gaming and sports betting.
“These sites were attempting to exploit Michigan players while operating outside the law. We take this seriously. When unauthorized operators offer games without regulation, Michigan players are left exposed—and we will not tolerate it,” said Henry Williams, MGCB Executive Director.
This enforcement action is part of the MGCB’s larger crackdown on illegal online gambling platforms. In recent months, the agency has issued numerous cease-and-desist letters, with additional investigations currently underway.
The MGCB continues to monitor online gaming activity and urges the public to be cautious when engaging with gambling content on social media or through digital advertisements.
SA Gaming, a leading Live Game Solution provider offering premium online entertainment, has announced that its game portfolio and Remote Gaming Server (RGS) have officially obtained Gaming Laboratories International (GLI) certifications in Brazil.
This milestone underscores SA Gaming’s commitment to delivering premium gaming experiences, with a particular focus on the Brazilian market.
A company representative said: “We will continue to strive for excellence, and to show our commitment to compliance and delivering tailored Live Game solutions.”
The regulated Brazilian online gaming market, which launched on January 1, 2025, is projected to become the largest in Latin America. Under the new framework, only licensed operators are legally permitted to offer online gaming and betting services.
Incentive Games, a leading B2B games provider, is proud to announce that it has been awarded an Ontario Gaming License by the Alcohol and Gaming Commission of Ontario (AGCO), effective today. This achievement enables the company to offer its portfolio of real-money games to licensed operators and players across the province.
The license underscores the Incentive Games’ commitment to meeting the highest standards of compliance, security, and operational excellence. The rigorous application process demands robust security protocols and comprehensive responsible gaming measures and affirms the company’s readiness to enter one of Canada’s most dynamic iGaming markets.
The North American market is a strategic focus for Incentive Games, and this milestone follows closely on the heels of the company receiving its Provisional Michigan gaming licence from the Michigan Gaming Control Board earlier this month.
Incentive Games will distribute its real-money gaming content in Ontario through Incentive Studios, the company’s dedicated Real-Money Gaming division, ensuring a focused and tailored approach to the market.
“Ontario represents a huge opportunity for us, and securing this license is a proud moment for the whole team,” said John Gordon, Chief Executive Officer at Incentive Games. “It reinforces our dedication to meeting the highest standards while delivering compelling real-money content. We’re looking forward to building strong relationships in the region and continuing our momentum across regulated markets worldwide.”
-
Compliance Updates7 days agoOddin.gg Officially Registered with LOTBA as a Supplier in the City of Buenos Aires
-
Latest News7 days agoSportradar Launches AI-Driven “Bettor Sense” to Support Responsible Gambling
-
Latest News5 days agoEvolution and PokerStars Extend Partnership in North America
-
Latest News6 days agoCyberArena Officially Rebrands from 188BET to taptap
-
Latest News6 days agoZenith offers LatAm unbeatable rates for PGSoft games
-
Interviews5 days agoGetting to know Dreidel
-
Latest News5 days agoOpticOdds Partners with Rimble to Launch Esports & Cricket Data
-
Latest News5 days agoStake joins Trinbago Knight Riders as official title partner