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Compliance Updates

Better Collective reflects on the initiatives from the ongoing UK Gambling Act review and expects limited to no financial impact

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The UK Government published a “White Paper” as part of a Gambling Act review. Better Collective welcomes the long awaited proposed initiatives with a stronger focus on safer gambling. Given the already taken compliance measures from the sportsbooks, and Better Collective’s continued focus on safer gambling, the Group estimates the proposed measures to have zero to limited financial impact on the Group.

Regulatory Release no. 24/2023

The UK Gambling act review
The UK gambling act review was initiated in 2020 and is said to be wide-ranging and evidence-led to strike the right balance between protecting the vulnerable, whilst not spoiling the enjoyment of those who enjoy betting as entertainment.

Better Collective welcomes the review and believes it provides an opportunity to drive further changes on safer gambling. This is fully aligned with Better Collective’s mission to make sports entertainment more engaging and fun while preventing problem gambling through the education of our users.

The impact on Better Collective will be zero to limited
The potential impact from the proposed regulatory changes mentioned in the White Paper will have zero to limited financial impact on Better Collective given the following reasons:

  • Since the review of the UK gambling act was initiated, UK sportsbooks have strengthened and implemented new compliance measures such as affordability checks, which impacted the Group’s sports win margin during that period. We have now seen a normalized sports win margin and do not expect for this to change given the proposed measures.
  • Better Collective has always had a core focus on safer gambling as shown in the below mentioned examples of RAiG and Mindway AI.

Financial targets remain unchanged
Better Collective’s financial targets for 2023 and 2027 remain unchanged. Better Collective will continue to monitor the global regulatory developments and potential changes in market dynamics, and will provide updates to any changes to future financial expectations.

Better Collective remains committed to safer gambling
In 2019, Better Collective entered into a partnership with its peers Spotlight Sports Group and Oddschecker to co-found the UK based trade association, Responsible Affiliates in Gambling (RAiG). Through RAiG, an independent body set up to help raise standards in the sector, we promote socially responsible marketing of gambling products and a safer gambling environment for users.

Mindway AI (part of the Better Collective Group) specializes in supporting the gambling industry with various safer gambling tools and solutions. This supports our ambition to make betting safer and provides the sportsbooks with a chance to take initiative in developing sustainable gaming through Mindway AI tools and software, already in use by Tier 1 sportsbooks in the UK market.

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Compliance Updates

Former Playtech Director of Internal Audit & Risk Joins eGaming Integrity

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eGaming Integrity is delighted to announce the appointment of Robert Penfold as Head of Internal Audit, further strengthening the firm’s ability to support Isle of Man licence holders in responding to increasing regulatory scrutiny and upholding the island’s reputation for integrity.

Robert brings with him more than two decades of high-level experience in governance, risk, audit, and compliance across global gaming and financial services organisations. Most notably, Robert spent over eight years as Director of Internal Audit & Risk at Playtech plc, the world’s largest online gaming software and services supplier listed on the London Stock Exchange. In this role, he was a member of Playtech’s Audit, Risk and Governance Committees, overseeing global audit programmes and supporting the business in meeting complex regulatory requirements across multiple jurisdictions.

Robert has also held senior positions at bwin.party digital entertainment plc, where he led global risk management across regulated markets including Spain, Denmark, Italy, Belgium, France, and Gibraltar. More recently, he was engaged as Governance, Risk & Compliance Manager at the Isle of Man Government’s Attorney General Chambers, where he implemented new risk frameworks and data governance processes across multiple divisions.

Emma Shilling, Director at eGaming Integrity, commented: “This is a landmark appointment for us. Robert’s depth of experience, particularly his years at the helm of audit and risk at Playtech, represents a real step change for eGaming Integrity and our clients. His appointment evidences our commitment to providing heavyweight, board-level expertise to Isle of Man licence holders at a time when regulatory scrutiny has never been higher.”

Robert Penfold added: “I’m thrilled to be joining eGaming Integrity at such a pivotal time for the sector. I’ve spent much of my career working to ensure organisations not only meet regulatory requirements but build strong, resilient frameworks that protect their businesses and customers. I look forward to working with Emma and the team to help our clients strengthen their compliance and governance cultures.”

Robert’s appointment adds further depth to eGaming Integrity’s team of industry experts and former regulators, reinforcing its position as the Isle of Man’s leading provider of mock audits, remediation, and internal audit services for the island’s eGaming licence holders.

The post Former Playtech Director of Internal Audit & Risk Joins eGaming Integrity appeared first on European Gaming Industry News.

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Compliance Updates

Dutch Gambling Authority Imposes Penalty on Three Gambling Influencers

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The Netherlands Gambling Authority (KSA) has imposed a penalty on three gambling influencers. These influencers are Stiefunspeelt, Turcos and Buurtwachtt. The penalty is a follow-up to previously announced steps by the KSA to take stricter action against influencers. Because influencers often appeal to a young and therefore vulnerable target group, it is crucial to combat this content.

Influencers Stiefunspeelt, Turcos, and Buurtwachtt posted videos on their social media platforms featuring gambling with illegal providers. They also actively promoted gambling by encouraging their followers to also gamble with these illegal providers. The Royal Netherlands Academy of Arts and Sciences (KSA) has previously explicitly reminded all three influencers that creating videos promoting illegal gambling is prohibited. Therefore, the KSA imposed a penalty on all three influencers. This requires them to remove existing content within 48 hours and prohibits them from creating new advertisements for illegal providers. If they do so, the influencer who committed the violation will receive a penalty of €25,000 per violation, with a maximum of €75,000.

The KSA continues to closely monitor these types of violations and emphasizes that young people must be protected from this type of content about illegal gambling.

The post Dutch Gambling Authority Imposes Penalty on Three Gambling Influencers appeared first on European Gaming Industry News.

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DigiPlus Applies for South Africa License

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DigiPlus Interactive has filed its license applications with the Western Cape Gambling and Racing Board (WCGRB) in South Africa. This move advances DigiPlus’ entry into one of the most promising regulated online gaming markets globally.

DigiPlus has applied for three operator licenses in South Africa: a National Manufacturer License, a Bookmaker License and a Bookmaker Premises License. The WCGRB is regarded as the preferred jurisdiction for international operators like DigiPlus due to its transparent regulatory processes and digital readiness.

“The filing of our online gaming license in South Africa marks another milestone in DigiPlus’ global growth journey, as we bring our proven track record of innovation, responsible gaming, and player protection, together with our strength in localizing games for diverse markets, to one of Africa’s most dynamic economies,” said DigiPlus Chairman Eusebio Tanco.

This milestone shortly follows DigiPlus’ launch in Brazil on September 22 with its first international brand GamePlus.

The post DigiPlus Applies for South Africa License appeared first on European Gaming Industry News.

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