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Compliance Updates

Better Collective is ready to launch in the state of Massachusetts

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Better Collective bolsters South American expansion with the appointment of dynamic Country Director for Brazil

 

Better Collective is ready to launch its award-winning sports media brands in the state of Massachusetts, as the state regulates online sports betting on March 10. With a population of seven million and a strong sports legacy, Massachusetts holds the potential to become one of the biggest sports betting markets in the US.

Regulatory Release no. 09/2023

As of March 10, legal online sport betting will be available for sport fans in the state of Massachusetts.

Better Collective is excited to enter Massachusetts and acknowledges the mutual commitment it shares with the Massachusetts Gaming Committee (“MGC”) to safer gaming, player education and consumer protection. Better Collective welcomes the decision by the MGC to waive its prior prohibition and provisionally allow for third parties to be compensated on a CPA or revenue sharing basis. Further, Better Collective applauds MGC for its recognition of the important role that performance based marketing media plays in the regulated sports wagering ecosystem.

Ten sportsbooks are approved to accept and process mobile sports betting. Having this many sportsbooks is a great opportunity for Better Collective, because Massachusetts holds the potential to become one of the biggest sports betting markets in the US, as the state has a strong sports legacy with its local teams; Boston Bruins, New England Patriots and Boston Red Socks.

Even though Better Collective’s sports media, especially www.ActionNetwork.com and www.VegasInsider.com, already have thousands of visitors every month from Massachusetts, it has not been possible for the visitors to use the information for betting. This changes now.

Marc Pedersen, CEO of Better Collective US, says: “We are pleased to learn about the decision of the MGC to provisionally allow CPA and revenue share in Massachusetts. For us as a group, we are excited to be able to help guide and educate the large sports fan base in Massachusetts into their first online sports betting experiences. The state has a very successful sports history, and we are confident the future with sports betting will be equally as successful”.

Compliance Updates

Sightline Selects GeoComply for Identity and Geolocation Compliance Services

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Leading fintech company Sightline has entered into an exclusive partnership with compliance and anti-fraud technology solutions leader GeoComply to bolster the security and efficiency of digital transactions within the regulated gaming industry.

Sightline will integrate GeoComply’s cutting-edge IDComply identity verification solution as well as GeoComply’s compliance-grade geolocation tools across its comprehensive suite of digital payment solutions for land-based casinos and online gaming operators.

GeoComply developed IDComply in direct response to the growing demand for an integrated solution that addresses the expanding compliance needs of the digital gaming industry. Sightline will leverage identity verification and geolocation checks at strategic points during the customer journey to validate that digital transactions comply with the Bank Secrecy Act (BSA) and adhere to Office of Foreign Asset Controls (OFAC) sanctions detection and blocking requirements. The partnership will also strengthen Know Your Customer (KYC) and anti-money laundering (AML) protocols to reduce fraud such as account takeovers.

The implementation of IDComply and GeoComply Core within Sightline’s offerings is scheduled to occur over the coming months.

“Digital payments continue to proliferate in the regulated gaming industry, and it is essential to have solutions that safely, securely, and swiftly validate customers’ identities. Implementing these tools across Sightline’s payment solutions will significantly decrease the time it takes to validate an identity and they will bolster compliance with the evolving regulations that govern digital financial transactions. Our vision is to create an omnichannel customer experience where patrons can seamlessly enroll, fund, and play their game of choice in under 180 seconds, putting gaming more in line with payments technologies in areas like retail and ecommerce,” Rose Zwirn, SVP of Business Development at Sightline, said.

“Our companies have a long history of collaboration and we’re excited to be working together to implement our GeoComply Core and IDComply solutions for Sightline’s customers. Our goal is to provide digital trust in every online transaction while opening the funnel for legitimate players and stop fraudsters from entering the digital gaming ecosystem. Working with best-in-class partners like Sightline gets us closer to that goal,” Sam Basile, VP of Business Development at GeoComply, said.

Digital wallets and transactions are becoming more common within the gaming industry, and Sightline is an indispensable and innovative partner to operators across the gaming ecosystem. Sightline will use IDComply to swiftly authenticate customer identities during signup across its platforms, simplifying cashless wagering accounts and online Play+ registrations. This move aims to address identity verification challenges, especially in areas like Nevada that require government IDs for account setup. IDComply is expected to accelerate this process, enhancing safety and user experience by reducing friction.

GeoComply’s advanced geolocation technology helps ensure regulatory compliance and is a strategic asset for gaming enterprises aiming to navigate the complex landscape of digital transactions securely and lawfully. With more than 10 billion transactions processed annually and installed on over 400 million devices worldwide, GeoComply empowers gaming enterprises to meet their compliance needs while providing a secure, trustworthy platform for their customers.

Furthermore, both Sightline and GeoComply have offices located at the Harry Reid Research and Technology Park in Las Vegas, symbolizing their joint commitment to advancing technology and compliance solutions within the gaming industry.

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California Gambling Control Commission Approves Key Licensing Decisions Amid Regulatory Updates

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The California Gambling Control Commission held a significant meeting on April 18, 2024, to discuss and decide on various licensing and compliance matters crucial for the operation and regulation of the state’s gambling entities. The California Gambling Control Commission’s agenda was packed with key issues ranging from the renewal of cardroom licenses to the approval of tribal gaming key employees.

A notable decision from the meeting was the approval of the Revenue Sharing Trust Fund Final Report, allowing for the distribution of quarterly license revenue to eligible recipient Indian tribes. This move underscores the California Gambling Control Commission’s ongoing commitment to supporting tribal communities through structured revenue sharing, even as some financial shortfalls were acknowledged.

The California Gambling Control Commission also reviewed several renewal applications for cardroom owner licenses. Noteworthy renewals included Bankers Casino under Old Town Investments Incorporated, Blacksheep Casino Company and Bruce’s Bar and Casino, which were approved with specific conditions related to operational compliance and security protocols.

Another critical area of focus was the licensing of key employees at tribal casinos. Several applications for initial and renewal of key employee licenses were approved, reflecting the California Gambling Control Commission’s stringent oversight in ensuring that individuals in significant casino roles meet the regulatory requirements. These decisions are essential for maintaining the integrity and security of gaming operations within the state.

Additionally, the meeting addressed the renewal and approval of third-party proposition player services, which are vital for cardrooms that do not bank their games. The California Gambling Control Commission approved several of these licenses, highlighting its role in facilitating responsible gambling while ensuring compliance with state laws.

The California Gambling Control Commission’s actions during the April meeting highlight the complex regulatory environment governing the state’s gambling industry and its proactive approach in adapting to new challenges and ensuring fair and safe gambling practices.

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Compliance Updates

GoldenRace, first virtual sports provider certified in Peru

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GoldenRace, first virtual sports provider certified in Peru

 

GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently received the certification for its Virtual Sports product in the Peruvian market.

At the beginning of the present year (February 2024), GoldenRace was registered in the country’s regulator portal, as well as obtained three certifications for Retail, Online and the Jackpot progressive award.

More specifically, the company, which already is the Virtual Sports provider leader in the Latin American market, certified 13 of its games for the retail sector and 21 for the online sector.

It is the first time we certified our Jackpot and also some games such as our newest Crash game, Fire Crash; the penalty-based football game, Penalt2Win; and some classics like Perfect6, Spin2Win American and Spin2Win American Royale.

“This certification process is a clear commitment of the company with the Peruvian market, where we have been focused for a long time now, creating specific products and working locally to give players a premium product they like. This certification is just one more step to keep being leaders in the country,” said Martin Wachter, GoldenRace’s CEO and Founder.

GoldenRace already has some outstanding numbers in Peru’s betting industry, working with 90% of the Retail market (over 6,200 units) and all the major Online operators.

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