Compliance Updates
The importance of agile tech in a rapidly evolving market
Compliable’s licensing platform enables sportsbooks and iGaming businesses to obtain employee, entity, vendor and other businesses licenses across multiple states in the US, ensuring speed to market which is crucial as regulation in the region evolves. We caught up with Chief Regulatory Officer, Justin Stempeck, on how Compliable stays agile, adapting its solution to support an industry with increasing regulatory demands.
How has the ever-changing gambling regulation in the US had an impact on your offering since you launched three years ago?
The nature of the industry we are in forces us to constantly think ahead to be prepared for any changes to existing regulation or new markets opening up. Since we launched our solution, we have built on it to ensure we can offer our clients the support they need, and this has been driven by how the sector has developed in the US over the last few years. Our product offering now includes multiple modules to support any type of license that gambling companies need to enter regulated US states. The regulatory landscape is complex, but our platform removes a big hurdle for the industry, helping companies quickly apply and manage their key, employee, vendor, and entity licenses across many states.
As a tech start-up, we are always looking at ways to strengthen our platform and ensure we stay ahead of our competition. We work closely with our clients and partners to understand their requirements and incorporate this into our product development, and we also have a close dialogue with regulators. We have repeatedly worked with customers to understand their licensing workflow and customize our product to best fit their existing methods to offer them the most value.
What advantages does Compliable’s platform have over its main competitors in the market?
What sets our solution apart the most is the degree of completeness that it offers as it finalises applications fully, entering all data and documentation where it needs to be. The simplicity of using our platform is a huge benefit to anyone who goes through what is often a complicated application process.
The user journey is therefore important, and offering a streamlined and simple process as people navigate through the platform is something we have worked hard on. We have extensive FAQs and a live chat available, further improving the user experience and the support we can offer. The US is a market we know extremely well and as experts in licensing and compliance, we want to offer more than just a tech solution.
Our job is never done at Compliable as we are always challenging ourselves to do more. With the modern tech our solution is built on, we have the possibility to continue to innovate compared with other legacy products on the market.
What role has reg tech played in the expansion of the US gambling markets and could more be done in this space?
It has been tremendously important for many companies who are smaller as they might not have the resources to handle it themselves. While hiring outside counsel to handle licensing applications has long been the norm for many companies, we instead empower the company itself to effectively complete the work in a time/cost efficient and thorough manner.
The reg tech space has evolved quickly over the years and there are so many areas where innovation can truly help gambling companies focus on what matters most to grow their business. Employee and entity licensing are an often-forgotten piece of the equation where using our solution can really make a difference. Our platform makes licensing much more approachable for people and we will continue to build out the functionality to ensure the license management process is as efficient and intuitive as possible.
AGCO
ThrillTech secures AGCO supplier licence for Ontario launch
ThrillTech has been awarded a Gaming-Related Supplier licence by the Alcohol and Gaming Commission of Ontario (AGCO), clearing the company to launch in Ontario’s regulated market.
The licence allows ThrillTech to deploy its opt-in side bet jackpots technology with regulated online casino, sports betting and lottery operators across the province.
Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing our AGCO licence is a major step in our mission to transform how jackpots are delivered at scale across regulated markets. This latest certification is testament to our robust technology and trusted compliance frameworks, allowing us to continue our global growth trajectory. We are thrilled to bring our proven, compliant jackpot technology to Ontario, empowering locally licensed operators to uplift revenue without cannibalising existing spend.”
The company said its “ThrillPots” mechanics sit as an independent, player-funded side bet and do not alter the underlying game’s return-to-player mathematics.
ThrillTech said the Ontario approval enables its existing multinational partners that also operate in the province to launch its side bet jackpots locally, while it also holds talks with potential new operator partners. The company lists its regulated footprint as including the United Kingdom, Sweden, the Netherlands, Romania, Malta, Gibraltar, Brazil and Peru.
The post ThrillTech secures AGCO supplier licence for Ontario launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
AGCO
ThrillTech wins AGCO supplier licence to enter Ontario market
ThrillTech said it has been awarded a Gaming-Related Supplier licence by the Alcohol and Gaming Commission of Ontario (AGCO), clearing the company to offer its side-bet jackpot technology to regulated online casino, sports betting, and lottery operators in Ontario.
Benjamin Bradtke, Co-Founder of ThrillTech, said: “Securing our AGCO licence is a major step in our mission to transform how jackpots are delivered at scale across regulated markets. This latest certification is testament to our robust technology and trusted compliance frameworks, allowing us to continue our global growth trajectory. We are thrilled to bring our proven, compliant jackpot technology to Ontario, empowering locally licensed operators to uplift revenue without cannibalising existing spend.”
The company said its ThrillPots product lets operators add player-funded, opt-in side-bet jackpots on top of existing games, without changing gameplay or the underlying return-to-player (RTP) calculations. ThrillTech positions the mechanic as a way to drive incremental engagement and revenue.
ThrillTech said the Ontario licence enables existing multinational partners that also operate in the province to roll out ThrillTech-powered jackpots locally, and added it is in discussions with potential new operator partners. The company listed other regulated jurisdictions it serves as the United Kingdom, Sweden, the Netherlands, Romania, Malta, Gibraltar, Brazil, and Peru.
The post ThrillTech wins AGCO supplier licence to enter Ontario market appeared first on Americas iGaming & Sports Betting News.
Baltics
EGBA Files Complaint Against Fintech Walletto Over Illegal Gambling Payments
The European Gaming and Betting Association (EGBA) has filed a formal complaint with the Bank of Lithuania against Walletto, a Lithuania-based payment service provider, over the alleged processing of payments linked to illegal online gambling operators. The complaint follows an EGBA investigation into illegal gambling websites and apps targeting European consumers. The complaint cites test transactions during the investigation that found evidence suggesting Walletto’s services were used in connection with deposits on a number of these platforms.
While the complaint concerns one provider, it points to a wider problem across the payments chain. Illegal gambling operators cannot operate at scale without access to payments – they depend on the same mainstream payment methods and card networks consumers use every day. As long as illegal operators can accept deposits and process transactions, they will continue to function outside legally compliant licensing regimes in the EU, evade regulatory controls, and expose consumers to harm.
Illegal platforms offer none of the safeguards required of regulated operators. Consumers using them do not benefit from basic protections – there is no robust identity verification, no safer gambling tools, no anti-money laundering controls and no guarantee their winnings will be paid. With no effective identity checks, minors and self-excluded players can access these sites unimpeded.
A problem across the payments chain
Illegal operators exploit weaknesses across the payments chain – among payment service providers, acquirers, and card networks – to keep reaching European consumers. Tackling this problem requires a more coordinated approach across policymakers, gambling and financial regulators, payment service providers, acquirers and card schemes. Card schemes in particular are uniquely placed to act: they are the rule-setters for the networks through which payments to illegal platforms flow and have access to transaction-level data that other stakeholders cannot see.
The principle is simple: payment providers should not process transactions for illegal gambling operators. EGBA is calling for stronger action to make that a reality. Financial regulators should fully and consistently enforce existing rules – such as the EU’s Payment Services Directive and anti-money laundering laws – against payment providers. Card schemes should also take the necessary steps to prevent payment providers from using their networks to process illegal gambling transactions.
Maarten Haijer, Secretary General of EGBA, said: “Payment providers should not be allowed to process transactions for illegal gambling operators. Illegal operators flourish by exploiting legitimate financial channels and the mainstream payment networks that consumers rely on every day. Our aim is simple: to leave them no room to manoeuvre, and to cut off the payment channels they use to reach European consumers. Card schemes also have a crucial role to play in combatting illegal transactions: they are better placed than anyone, as they set the rules for these payment networks and see transaction flows no one else can.”
The post EGBA Files Complaint Against Fintech Walletto Over Illegal Gambling Payments appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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