Compliance Updates
OKTO.WALLET Gets Approval in Spain in Association with Jackpot Systems
OKTO, a Greece-based fintech company, has joined hands with gambling technology and hardware provider Jackpot Systems to launch its OKTO.WALLET in Spain. The seamless and secure mobile wallet will now be available on all gaming machines linked with Jackpot’s Casino Management System (CMS).
The wallet will first make its entry in Murcia and Galicia, where players can first hand experience the fast and easy transaction service.
Nacho Frade,OKTO’s Country Manager of Spain, said:
“We are extremely proud to be now ready to offer our powerful cashless solution on gaming machines in Spain, one of the biggest regulated markets in Europe.
Our partnership with Jackpot System is entirely aligned with our operators’ quest for digitalization, and we are now able to help them with the transition to cashless operations. The driver is always the same – the ability to provide safe, socially responsible and fast transactions to their users, but also to attract younger demographics, reduce cost and risk of cash, and that is what we can now deliver.”
Alejandro Jimenez, CEO at Jackpot Systems, added:
“These approvals validate and authorize, for the first time in land-based gaming in Spain, a digital system without cash and without any other physical support than the user’s mobile phone, and this is a great achievement in the sector that makes all of us who have been proud endeavoured to achieve it.
Galicia and Murcia are the first communities to benefit from this solution, but the others will soon arrive and it can be used in the rest of Spain. With this, we enrich our already powerful management and control system and advance in the complete digitization of gaming companies, which are the great beneficiaries of these technological advances.”
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BOS – the Swedish Trade Association for Online Gambling – has today written to the Swedish Ministry of Finance with a request to amend the Gambling Act.
It is currently perfectly legal for unlicensed gambling companies and their subcontractors to accept Swedish gambling consumers as long as the companies avoid using the Swedish language and Swedish currency. This loophole has led to a massive influx of unlicensed gambling offers into the Swedish gambling market.
The reason this has happened is because the Government changed the application of the Gambling Act compared to how the proposal was originally presented by the Gambling License Investigation, the investigation that then formed the basis for the new Gambling Act and the Swedish reregulation in 2019. The Gambling License Investigation wanted to criminalize companies in general that lack a Swedish gambling license that still accept Swedish gambling consumers.
BOS is writing to the Ministry of Finance today with a request that the Government take the initiative to amend the Gambling Act in favor of the Gambling License Investigation’s original proposal.
“Unlicensed gambling should be eliminated in Sweden. It is completely inadequate that around a quarter of all gambling is unlicensed, not least given the total absence of consumer protection on the black gambling market. If we are to succeed in eliminating this part of the gambling market, the Gambling Act must be amended and all unlicensed gambling must be criminalized,” says Gustaf Hoffstedt, Secretary General of BOS.
The post BOS urges the Ministry of Finance to take initiative to amend the Gambling Act appeared first on European Gaming Industry News.
Compliance Updates
Mindway AI and Midnite Partner to Enhance Safer Gambling with GameScanner Integration
Mindway AI, a leading provider of advanced responsible gaming solutions, is pleased to announce a strategic partnership with Midnite, a next-generation betting platform. This collaboration aims to bolster player protection by integrating Mindway AI’s GameScanner technology into Midnite’s platform, reinforcing their commitment to safer gambling practices.
GameScanner is an AI-driven tool that combines artificial intelligence, neuroscientific insights, and expert evaluations to automatically detect and monitor at-risk and problem gambling behaviour. By incorporating GameScanner, Midnite will proactively identify and assist players exhibiting signs of problematic gambling, ensuring timely interventions and support.
“We are excited to partner with Midnite, a forward-thinking operator dedicated to providing a secure and enjoyable betting experience,” said Rasmus Kjaergaard, CEO of Mindway AI. “Integrating GameScanner into Midnite’s platform will enhance their responsible gaming measures, setting a new standard for player protection in the esports and sports betting industry.”
Midnite, known for its innovative approach to online betting and being one of the world’s most technologically advanced wagering platforms, recognises the importance of responsible gaming and player well-being. This partnership reflects their ongoing commitment to implementing cutting-edge technologies that promote a safe gambling environment.
“At Midnite, the safety and well-being of our players is foundational. We’re always pushing to find and innovate new ways to reduce gambling-related harm across our products. Our new partnership with Mindway AI will allow us to push the limits of technology and artificial intelligence with our Safer Gambling efforts. This Midnite and Mindway AI collaboration will help us to understand player behaviour better than ever before by introducing enhanced, real-time protections to intervene when necessary; assisting us in our goals of being market-leaders for Safer Gambling compliance” stated George Berson, Head of Operational Compliance at Midnite.
This partnership underscores a shared dedication to responsible gaming and the utilisation of advanced technologies to create a safer betting environment. Both companies are committed to ongoing innovation in player protection, aiming to set industry benchmarks for responsible gambling practices.
The post Mindway AI and Midnite Partner to Enhance Safer Gambling with GameScanner Integration appeared first on European Gaming Industry News.
BetComply, iGaming’s most trusted technical and regulatory compliance firm, has appointed Paola Menchem to lead its legal and regulatory compliance services.
Menachem brings with her more than two decades of experience in legal roles across the gambling industry, including more than seventeen years as Corporate Counsel at Intralot.
She will head up BetComply’s growing legal and regulatory compliance function, which now offers licensing and compliance, due diligence, commercial structuring, IP and more.
BetComply CEO Daniel Brookes said: “It’s an exciting time to be expanding our legal and regulatory services, and Paola’s expertise makes her the perfect person to head up this growing function. With regulatory demands increasing worldwide, we expect to be supporting even more partners in this area with Paola at the helm.”
BetComply Head of Legal and Regulatory Compliance Paola Menachem added: “BetComply is at the forefront of helping businesses stay ahead of regulatory requirements, and I’m looking forward to helping our partners navigate ever-evolving regulatory and legal challenges with complete confidence.”
BetComply now offers a full suite of products and services to both operators and providers, making it the industry’s leading one-stop shop for compliance requirements.
The post BetComply hires Paola Menachem as Head of Legal and Regulatory Compliance appeared first on European Gaming Industry News.
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