Compliance Updates
Smarkets introduces betting exchange to Swedish market
Betting exchange Smarkets has launched in Sweden after receiving approval from the national regulator. The London-headquartered company operates one of the world’s leading peer-to-peer platforms for trading on sport, politics and current affairs, and it is now available to users in Sweden at smarkets.com.
Smarkets will become the second licensed betting exchange in Sweden, where online gaming and betting operators reported revenues of SEK14bn (£1.2bn) in 2019, according to figures from regulator Spelinspektionen and the Swedish Tax Agency.
As well as its UK base, Smarkets also has offices in Los Angeles and Malta, and is one of the industry’s only operators to own its full technology stack.
Jason Trost, Smarkets CEO/Founder, said: “We know that customers in Sweden have been eagerly anticipating us going live, so I’m very excited to launch the Smarkets exchange there.
“I am confident that our market-leading prices and superior product will appeal to Swedish customers. The fact that we own our tech stack is one of the reasons we are able to offer the best pricing in the industry, and I’m really looking forward to growing our user base in Sweden.”
Sweden is the second new market in which Smarkets has recently launched. Whilst Swedish customers will be able to use the Smarkets betting exchange, the company also introduced its SBK sportsbook app to bettors in the US state of Colorado in June, and plans to release SBK in Indiana before the end of the year. Smarkets has been available to users in the UK and Ireland since 2010.
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Compliance Updates
REEVO Obtains Certification in Portugal
REEVO, the fast-growing online game provider, announced that its portfolio of in-house games has officially been certified for the Portuguese market, marking another important milestone in the company’s ongoing expansion across Europe’s regulated iGaming sector.
With certification secured, REEVO games are now approved for licensed operators in Portugal, enabling the company to introduce its innovative slot titles and immersive gameplay experiences to players across the country.
Portugal represents one of Europe’s most respected regulated markets, and the certification underscores REEVO’s commitment to delivering high-quality, compliant gaming content that meets the strict requirements of regulated jurisdictions while maintaining the creativity and performance that define the REEVO brand.
Portuguese operators will now gain access to:
• REEVO’s premium portfolio of in-house slot games
• High-performance, mobile-first gameplay
• Innovative features designed to enhance player engagement
• Fully certified and regulator-approved content
“Achieving certification in Portugal is an exciting milestone for REEVO and an important step in our European growth strategy. We are thrilled to bring our in-house games to Portuguese operators and players, continuing our mission to deliver engaging, high-quality content across regulated markets,” said Karl Grech, Head of Business Development at REEVO.
The post REEVO Obtains Certification in Portugal appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
UKGC Appoints Sue Young as its Executive Director of Operations
The UK Gambling Commission (UKGC) has appointed Sue Young as its new Executive Director of Operations.
Sue joins the Commission from HMRC where she was Director of Debt Management. She brings extensive leadership experience from across the public sector, including senior roles at the Home Office, including Border Force and HM Inspectorate of Constabulary and Fire & Rescue Services and the Department of Health and Social Care.
As Executive Director for Operations, Sue will lead a number of the Commission’s operational functions as the regulator continues its work to keep gambling safer, fairer and crime free.
Sarah Gardner, Acting Chief Executive, said: “I’m delighted to welcome Sue to the Gambling Commission. There is a great deal of important work underway across our operational teams, not least our continued focus on tackling the illegal market and delivering strong regulatory outcomes. Sue brings a wealth of operational leadership experience and I’m very much looking forward to working with her.”
Sue Young said: “I’m excited to be joining the Gambling Commission and to be learning about a new sector. The Commission plays an important role in protecting consumers and ensuring gambling is conducted fairly and safely. I’m looking forward to building on the significant work already underway across the organisation.”
The post UKGC Appoints Sue Young as its Executive Director of Operations appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Alex Smith
Fanatics Betting and Gaming Appoints Alex Smith as its Chief Legal Officer
Fanatics Betting and Gaming has announced the appointments of Alex Smith to the position of Chief Legal Officer and Sara Tait to Senior Vice President and Head of Legal and Regulated Industries.
Reporting to Fanatics Betting and Gaming CEO Matt King, Smith will be a member of the FBG executive team and lead legal, regulatory, compliance, and government affairs strategy for the company’s rapidly growing sports betting and iGaming division. Smith Joined FBG in 2021 as VP of Legal and Regulatory Compliance and spearheaded the fastest state by state roll out for Fanatics Sportsbook in the history of U.S. sports betting.
“Alex was one of our first hires and he helped build our legal and regulatory apparatus that has allowed us to launch products rapidly in legal sports betting, iCasino and prediction markets. As we continue to grow, Alex is the perfect person to lead our legal and regulatory functions into the future,” said Matt King, CEO of Fanatics Betting and Gaming.
Reporting to Alex Smith, Tait will have wide responsibilities spanning multiple strategic subject matters within FBG, specifically serving as legal counsel to the regulated gaming and markets products. She is responsible for developing and managing FBG’s relationships with federal and state regulators; contributing to government affairs efforts and strategic industry initiatives; furthering FBG’s consumer protection measures; and maintaining licenses and registrations with federal and state oversight bodies.
“Sara is a well-respected former gaming regulator who also has experience in the private sector, making her the ideal choice to lead critical legal and regulatory efforts. The legal and regulatory landscape for sports betting, iCasino and prediction markets are constantly changing and having someone that has been on both sides of the regulatory landscape will be invaluable to us as we continue our growth trajectory,” said Smith.
The post Fanatics Betting and Gaming Appoints Alex Smith as its Chief Legal Officer appeared first on Americas iGaming & Sports Betting News.
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