Balkans
Sponsors Spotlight: NSoft “Crashes” Compliance Challenges and Cashes on Gaming Experience
Ahead of the highly-anticipated Prague Gaming & TECH Summit, organizer HIPTHER is thrilled to introduce and put the spotlight on the companies and people that help make the magic happen: our conference sponsors! These innovative, accomplished professionals and teams make magic happen everyday, and they will be joining us at the Prague Gaming & TECH Summit 2024 taking place on 26-27 March, to share insights, network and collaborate with you! Get to know them, connect, and meet them in Prague!
In this Sponsors Spotlight Interview the #hipthers meet Zlatan Omerspahić, Head of Legal and Compliance at NSoft, Pen and Paper Sponsors of the upcoming Prague Gaming & TECH Summit. Zlatan will be a Speaker at the Summit, offering valuable insights at the panel about “Compliance Challenges and Opportunities in the Balkan Gambling Industry”.
Hello Zlatan, thank you for taking the time for this interview. We are thrilled to get to know you and introduce you to our readers! Can you tell us a bit about yourself and your role at NSoft, as well as what excites you most about being a part of the iGaming industry?
Hello, and thank you for having me! My name is Zlatan Omerspahić, and I’m the Head of Legal and Compliance at NSoft, a leading technology company specializing in software solutions for the gaming and betting industry.
In my role, I oversee the legal and regulatory aspects of our operations, ensuring that our products and services not only meet but exceed industry standards from legal and compliance perspective.
What excites me most about being part of the iGaming industry is the dynamic and innovative nature of this field. It’s an area that’s constantly evolving, with new technologies and regulatory challenges emerging all the time.
This keeps us on our toes and requires a proactive and forward-thinking approach to navigate the landscape successfully. Additionally, the opportunity to work on a global scale, adapting to diverse legal and cultural environments, is incredibly rewarding.
Being part of NSoft means I’m directly involved in shaping the future of gaming and betting, making it safer and more enjoyable for users around the world. The pace of change and the impact of our work on the industry and its participants make every day exciting and fulfilling.
NSoft is one of the most successful iGaming and Sports Betting Software companies in the industry, boasting a long history and a variety of betting solutions. What strategies or innovations do you employ to ensure compliance in the iGaming industry, and what sets NSoft apart in this area?
NSoft stands at the forefront of the iGaming and sports betting industry, thanks to our relentless commitment to innovation, quality, and, most importantly, compliance. In an industry as dynamic and regulated as iGaming, staying ahead of the curve in compliance is not just a necessity but a core aspect of our business strategy.
One of the key strategies we employ at NSoft to ensure compliance is our proactive approach to regulatory changes. We closely monitor emerging regulations and trends in every market we operate in, ensuring that our solutions are not only compliant at the time of deployment but are also designed with the flexibility to adapt to future regulatory shifts. This foresight allows us to provide our partners with products that are sustainable and compliant in the long term.
Furthermore, NSoft invests heavily in technology and people to maintain our compliance standards. Our compliance team works in tandem with our product development teams to integrate compliance requirements seamlessly into our software solutions from the ground up. This integration ensures that our products are not only innovative and user-friendly but also adhere to the highest compliance standards.
What sets NSoft apart in this area is our holistic approach to compliance. We view it as an integral part of the user experience and product design, rather than as a separate or external process. This approach ensures that compliance is embedded in the DNA of our products and services, making them inherently compliant and reducing the compliance burden for our clients.
Additionally, our commitment to responsible gaming is unwavering. We continuously develop and integrate features that promote safe gaming practices, ensuring that end-users can enjoy our products responsibly. This commitment to responsible gaming not only reinforces our stance on compliance but also builds trust with our partners and their customers.
NSoft is an omnichannel betting and gaming software provider, covering both land-based and online betting. Are there any notable differences between the regulatory frameworks for land-based and online gambling, and how does NSoft navigate these differences in its omnichannel approach?
Navigating the regulatory landscapes of land-based and online gambling is indeed one of the most intricate aspects of providing omnichannel betting and gaming solutions. The regulatory frameworks for these two sectors can vary significantly not only between different jurisdictions but also in terms of the specific compliance requirements within each domain.
In the realm of land-based gambling, regulations often focus on the physical aspects of gaming, such as the location and operation of betting shops, casinos, and gaming machines. These regulations can include zoning laws, operational hours, and specific requirements for hardware and software used in gambling operations.
When NSoft first started, our primary focus was on the Balkan market’s land-based sector, which provided us with deep insights into the nuances of operating within tightly regulated physical environments.
As we expanded into the online and global markets, we encountered a different set of regulatory challenges. Online gambling regulations tend to focus more on digital security, data protection, and consumer safeguards, such as responsible gaming measures and anti-money laundering (AML) protocols.
The digital nature of online gambling also introduces complexities related to cross-border service provision and jurisdictional overlaps.
NSoft’s omnichannel approach is designed to adeptly navigate these differences by ensuring that our solutions are versatile and compliant across all platforms. We achieve this through several strategies:
- Modular Software Design: Our products are built with modular designs, allowing us to easily adapt and configure them to meet the specific regulatory requirements of both land-based and online operations in any jurisdiction. This flexibility is key to our ability to provide tailored solutions that comply with local regulations.
- Continuous Compliance Monitoring: We have dedicated teams that continuously monitor regulatory developments in all markets we operate in. This proactive approach ensures that our solutions remain compliant as regulations evolve, whether they pertain to land-based or online gambling.
- Integrated Compliance Features: Our software includes integrated features that address the common regulatory denominators in both sectors, such as player identification and verification, transaction monitoring, and responsible gaming controls. These built-in compliance features simplify the process of meeting regulatory requirements for our clients, regardless of the channel.
- Local Partnerships: Understanding that local knowledge is invaluable, we engage with local partners and regulatory bodies to ensure our solutions meet the specific needs and compliance standards of each market. This collaboration is particularly beneficial when adapting our solutions to new jurisdictions or sectors.
By leveraging these strategies, NSoft successfully delivers compliant, cutting-edge betting and gaming solutions that serve the diverse needs of the land-based and online sectors, ensuring a seamless and secure experience for operators and their customers alike.
Speaking of land-based gaming, NSoft recently announced the exciting “Crash Cash” title designed for brick-and-mortar betting shops. Can you share more about it and discuss the regulatory challenges associated with its implementation?
We’re indeed excited about our latest addition to the NSoft portfolio, “Crash Cash,” which is designed to bring a fresh and engaging experience to players in brick-and-mortar betting shops.
Crash games are usually created for online gameplay where players must cash out before the aircraft crashes. We are embracing this popular online concept and giving it a fresh twist in the land-based environment with the Crash Cash game. Retail players must predict and select a multiplier below which they believe the crash will occur.
We’re not only excited about introducing “Crash Cash” to our portfolio but also thrilled about the unique way we showcased it at ICE London 2024. To bring “Crash Cash” closer to the audience and let them experience the thrill of the game firsthand, we organized a prize contest that was nothing short of spectacular.
Participants at the event had the opportunity to play “Crash Cash” by filling out a ticket and placing it into a box for a random draw. This interactive experience allowed participants to engage with the game directly, adding an element of real-world excitement to the virtual gameplay.
The stakes of the contest were high, with the winner taking home a technological marvel – the T-1000 PRO betting terminal, valued at 5,000 EUR. This prize is not just a piece of equipment; it’s essentially a bet shop on its own, encapsulated within a stunning metal frame design. The T-1000 PRO represents the cutting edge of betting terminal technology, combining sleek aesthetics with robust functionality to deliver an unparalleled user experience.
This contest, centered around “Crash Cash,” was more than just a promotional activity; it was a testament to NSoft’s commitment to innovation and engagement. By allowing participants to experience “Crash Cash” in such an interactive and high-stakes format, we highlighted the game’s potential to captivate players and add value to brick-and-mortar betting operations.
When it comes to implementing new games like “Crash Cash” in land-based settings, regulatory challenges are a significant consideration.
These challenges primarily revolve around ensuring that the game complies with the specific regulations governing physical betting operations in each jurisdiction. This can include rules related to game randomness and fairness, payout ratios, and the physical security of gaming terminals.
To navigate these challenges, NSoft adopts a comprehensive approach that includes:
- Certification and Testing: Before launching any new game, including “Crash Cash,” we ensure it undergoes rigorous testing and certification by accredited gaming laboratories. This process verifies that the game meets all regulatory requirements related to game fairness and integrity.
- Customizable Game Settings: Recognizing the diversity of regulatory environments, “Crash Cash,” like all NSoft games, is designed with customizable settings. This allows operators to adjust the game parameters, such as payout ratios and bet limits, to comply with local regulations.
- Training and Support: We provide comprehensive training and support to our partners, ensuring that they understand the regulatory requirements and how to operate “Crash Cash” within those constraints. This support extends to assisting with compliance documentation and liaising with regulatory bodies if necessary.
- Responsible Gaming Features: In line with our commitment to responsible gaming, “Crash Cash” includes features designed to promote safe gambling practices. These include self-limitation options for players and mechanisms for operators to monitor and intervene if problematic gambling behavior is detected.
Everything mentioned above is based on clearly and fairly partnership with our clients.
By proactively addressing these regulatory challenges, we ensure that “Crash Cash” can be seamlessly integrated into land-based betting shops, providing a new and exciting game option that is both compliant and engaging for players.
Your panel at the Prague Gaming & TECH Summit will explore “Compliance Challenges and Opportunities in the Balkan Gambling Industry.” Could you provide our readers with a sneak peek into some key discussion points or insights they can expect?
I’m truly looking forward to participating in the panel discussion at the Prague Gaming & TECH Summit, where we will delve into the intricate world of compliance challenges and opportunities in the Balkan gambling industry.
The region presents a unique set of regulatory landscapes, each with its distinct nuances, which makes it a fascinating case study for anyone interested in the global gaming and betting sector.
Here are some key discussion points and insights attendees can expect from the panel:
- Diverse Regulatory Environments: The Balkans consist of multiple countries, each with its own legal framework governing gambling. We’ll discuss how these varying regulations impact operators and service providers, and how businesses can navigate this complex environment effectively.
- Emerging Trends in Regulation: We’ll explore recent regulatory trends in the region, such as increased emphasis on responsible gaming, digital identity verification, and anti-money laundering measures. Understanding these trends is crucial for staying compliant and competitive in the market.
- Technology’s Role in Compliance: The panel will also highlight how technology can be leveraged to address compliance challenges. From sophisticated player verification systems to AI-driven tools for detecting problematic gambling behaviour, technological innovations are at the forefront of compliance solutions.
- Cross-Border Challenges: Given the geographic proximity and cultural connections between Balkan countries, cross-border gambling is a significant topic. We’ll examine the challenges and opportunities that arise from cross-border betting and how operators can manage them.
- Opportunities for Growth: Despite the challenges, the Balkan gambling market is ripe with opportunities. We’ll discuss how operators and service providers can capitalize on these opportunities by adopting innovative approaches, forging strategic partnerships, and staying ahead of regulatory changes.
- Case Studies: Expect to hear real-world examples and case studies demonstrating how businesses in the region have successfully navigated the compliance landscape, highlighting practical strategies that can be applied across the industry.
The panel aims to provide a comprehensive overview of the compliance landscape in the Balkans, offering valuable insights not just for those operating in the region but also for global stakeholders interested in understanding the dynamics of a diverse and rapidly evolving market.
As NSoft’s Head of Legal & Compliance, what advice do you have for betting operators, both new and seasoned, when it comes to selecting game providers and titles to ensure compliance and maximize success?
As NSoft’s Head of Legal & Compliance, I’ve seen firsthand the critical importance of compliance in ensuring the longevity and success of betting operations.
My advice to betting operators, whether they are new to the industry or seasoned veterans, revolves around a few key considerations when selecting game providers and titles:
- Rigorous Due Diligence: Before partnering with a game provider, conduct thorough due diligence to assess their compliance track record. This includes reviewing their licensing status, previous regulatory issues, and the robustness of their compliance programs. A provider with a strong compliance ethos will significantly reduce the risk of regulatory complications down the line.
- Alignment with Regulatory Requirements: Ensure that the game titles you select meet the specific regulatory requirements of your operating jurisdictions. This involves not only the current legal landscape but also an awareness of potential regulatory changes. Game providers that offer flexible and adaptable solutions will be valuable partners as regulations evolve.
- Commitment to Responsible Gaming: Choose providers that prioritize responsible gaming and integrate features that promote safe gambling practices within their games. This not only aligns with regulatory expectations but also fosters trust among your customers and contributes to a sustainable gambling environment.
- Technical Standards and Certifications: Verify that the game providers adhere to high technical standards and that their games are certified by reputable testing laboratories. This ensures the fairness and integrity of the games, which is crucial for maintaining customer trust and meeting regulatory standards.
- Transparent and Open Communication: Opt for providers that maintain open lines of communication regarding compliance and regulatory matters. A collaborative approach to compliance can help anticipate and mitigate potential issues, ensuring a smoother operational flow.
- Innovative and Engaging Content: While compliance is paramount, it’s also essential to select game titles that are innovative and engaging to ensure commercial success. Providers that balance regulatory compliance with cutting-edge, appealing content will contribute most to your success.
- Consider Local Market Preferences: Understand the preferences and trends of your target market. Game providers that offer localized content and are adaptable to the cultural nuances of your operating regions can significantly enhance player engagement and retention.
By prioritizing these considerations, betting operators can forge successful partnerships with game providers, ensuring not only compliance but also a compelling and responsible gaming experience for their customers.
The synergy between compliance and commercial success is critical, and selecting the right game providers is a pivotal step in achieving that balance.
Thank you for this insightful interview, Zlatan! We look forward to meeting you at the Prague Gaming & TECH Summit, and hearing your valuable insights on Compliance Challenges and Opportunities in the Balkan Gambling Industry.
Join us in Prague to connect with Zlatan and the NSoft Team: Get your Tickets to the Prague Gaming & TECH Summit Now!