Connect with us

Compliance Updates

W2 Identifies Key Statistics from Financial Risk Checks to Support Gambling Operators

Published

on

Reading Time: 2 minutes

 

Regtech orchestration platform provider, W2, has identified key statistics within their financial risk check solution to help operators understand the affordability of their customers and support player protection initiatives.

W2, the provider of leading regulatory compliance services to the gambling industry, has identified keys statistics relating to High-Cost Short-Term loans within its financial risk affordability solution. With the release of the gambling industry white paper last week, gambling operators must now prepare to implement financial risk checks when customers hit certain net loss limits.

The solution combines data assets from multiple sources at the individual, demographic, and geographic levels on a ‘where available’ basis and has been built to provide as clear a picture as possible in a way that is not intrusive to the player. Operators can customise data consumption either through API integration at onboarding, or trigger based on various markers of harm (MOH).

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

One of the 50+ data indicators included in the solution analyses data on High-Cost Short-Term loans. This is key data for operators to have access to as consumers who are considering using loans to pay for critical costs such as bills and debt may not have the means to gamble.

When comparing a batch trial completed in 2023 vs. 2022, the results of High-Cost Short-Term or payday loans were staggering. W2 has identified the following statistics:

  • High Interest Short Term loan enquiries to pay for bills increased by 1700%.
  • High Interest Short Term loan enquiries to pay for debt increased by 1000%.
  • High Interest Short Term loan enquiries for short term cash increased by 1050%

Warren Russell, CEO & Founder at W2 commented “The results of this batch trial when compared to data from 2022 is clear evidence that the cost-of-living crisis is hurting. The sheer number of consumers needing loans to pay for day-to-day costs is certainly the type of data which can be helpful to operators when implementing their player protection initiatives.

We are pleased that the long-awaited gambling white paper has now been released to give operators guidance on how best to comply with updated regulation. It is also promising that financial risk checks are going to play a key part in a safer gambling industry. W2’s financial risk solution has been specifically developed with the needs of gambling operators in mind, and we are looking forward to being able to provide this to the industry.”

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Compliance Updates

Starcasino bolsters its commitment to Sports Betting Integrity with International Betting Integrity Association (IBIA) membership

Published

on

starcasino-bolsters-its-commitment-to-sports-betting-integrity-with-international-betting-integrity-association-(ibia)-membership
Reading Time: 2 minutes

 

Partnership underscores Starcasino’s pledge to protect sports and customers from betting-related corruption

Starcasino has joined the International Betting Integrity Association (IBIA) as part of the operator’s recent launch of its sportsbook in the Netherlands via the Altenar sportsbook, which is also a member of IBIA. The operator is also established in Belgium and Spain and joins over 80 companies and 140 sports betting brands that feed into IBIA’s world leading betting integrity network, which monitors over $300bn in sports bets each year. Starcasino’s membership maintains IBIA’s position as the foremost sports betting integrity monitor in the Netherlands, with the association representing around 90% of the licensed sportsbooks currently in operation in the country.

Kylian Olierook, Director of Starcasino Netherlands, said: “Starcasino.nl has joined the International Betting Integrity Association (IBIA) as part of our ongoing effort to support fair and honest sports betting. Together with our sportsbook partner Altenar, we want to help protect sports from manipulation and ensure a safe experience for our players. By working with IBIA, we take an active role in monitoring and reporting suspicious betting activity.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Khalid Ali, CEO of IBIA, said: “We are delighted to welcome Starcasino to our association. Their addition strengthens our global monitoring network and reinforces our shared commitment to safeguarding the integrity of sports and regulated betting markets. Membership of IBIA highlights Starcasino’s dedication to maintaining the highest standards of integrity and transparency in the regulated sports betting industry. We look forward to working closely with Starcasino to protect the integrity of its products and markets.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and was established by operators, for operators, to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets. Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts; this data is only available to IBIA and its members.

The post Starcasino bolsters its commitment to Sports Betting Integrity with International Betting Integrity Association (IBIA) membership appeared first on European Gaming Industry News.

Continue Reading

Compliance Updates

New Zealand Introduces Online Casino Gambling Bill

Published

on

new-zealand-introduces-online-casino-gambling-bill
Reading Time: < 1 minute

 

New Zealand Internal Affairs Minister Brooke van Velden has introduced the Online Casino Gambling Bill to the House of Representatives.

“The Online Casino Gambling Bill will introduce a regulatory system for online gambling in New Zealand, which will prioritise harm minimisation, consumer protection, and tax collection,” said Ms van Velden.

Cabinet has previously agreed to introduce new legislation to regulate the online casino gambling market, which is currently unregulated in New Zealand. Key features of the Bill include:

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

• Up to 15 licences for online casino gambling operators will be auctioned.

• Companies applying for a licence will need to provide detailed information to the regulator, including on their business plans for New Zealand.

• Licensed operators will be allowed to advertise, with restrictions.

• Unlicensed operators will be prohibited and fines up to $5 million may be applicable for breaking the law.

“The Bill will proceed to select committee later this year and New Zealanders will have the ability to have their say through the select committee process.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The introduction of the Bill meets action 21 on the Coalition Government’s Quarter Two Action Plan.

The post New Zealand Introduces Online Casino Gambling Bill appeared first on European Gaming Industry News.

Continue Reading

Compliance Updates

The Danish Gambling Authority Blocks 178 Illegal Gambling Sites

Published

on

the-danish-gambling-authority-blocks-178-illegal-gambling-sites
Reading Time: < 1 minute

 

On June 26, the court at Frederiksberg ruled in favour of the Danish Gambling Authority to have 178 websites blocked that offered illegal gambling to Danes. That is the highest number of blocks made since 2012.

The Danish Gambling Authority monitors websites that offer gambling to Danes without a licence. The blocking of the sites is done through the court, which assesses whether they should be blocked, and now the court in Frederiksberg has ruled in favour of the Danish Gambling Authority and have ordered the Danish internet service providers to block 178 gambling sites.

In total, the Danish Gambling Authority has had 616 illegal gambling sites blocked since 2012.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Record number of blocks

178 blocked websites are the highest number so far for a single blocking case since 2012. Previously, the Danish Gambling Authority conducted only one case a year in court to have the sites closed, but since 2024 the cases have been brought before the court twice annually.

“It is of course frustrating that illegal gambling sites continue to appear targeting Danes,” said Anders Dorph, Director of the Danish Gambling Authority.

“But I am very pleased that we have tools to find the sites and that we manage to get them blocked. In 2023, we took the initiative to have the sites blocked twice a year instead of once. This means that we can more quickly shut down access to sites that do not have a Danish licence and where consumers do not have the same protection as those gambling operators who have a licence from the Danish Gambling Authority.”

The post The Danish Gambling Authority Blocks 178 Illegal Gambling Sites appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania