Compliance Updates
Vixio Releases 2024 Artificial Intelligence Outlook
Based on Vixio analysis of recent regulatory events and market data, this report provides high-level intelligence on the global regulatory changes affecting AI
Vixio, a leading provider of regulatory intelligence solutions, has released the 2024 Artificial Intelligence (AI) Outlook report, covering global trends in AI regulation and adoption in the payments and gambling industries.
AI regulatory developments have popped up across the globe in the last year, with Western Europe leading the way with the most updates. According to the Vixio AI Outlook report, the UK and EU have released over 40 updates in AI regulation since 2023.
Specific jurisdictions that have taken notable steps to regulate the use of AI include Canada, the EU, Hong Kong, Spain, and the UK. Several jurisdictions have regulatory developments in progress, including Argentina, Australia, Brazil, Chile, Colombia, France, Luxembourg, Malta, South Africa and Uruguay. In contrast, other jurisdictions, such as the US, have released guidance and best practices.
“Right now, regulators are in a nascent stage surrounding AI regulation. However, as businesses increasingly explore the adoption of AI, regulators will follow suit,” explains John Gidla, Head of PaymentsCompliance at Vixio. “But, at this stage, governments and regulators are watching the development of AI and looking to better understand potential opportunities and threats, and trying to balance the fine line between consumer protection and innovation.”
In the payments industry, regulators are observing how AI is being used by payments and banking institutions. The full report includes case studies of AI implementation in FinTechs like Revolut, Mastercard, Visa and more. Some of the opportunities surrounding AI in the payments industry include:
- allowing quicker fraud detection by analysing transaction patterns to detect unusual behavior in real time
- predicting future behavior, allowing for highly target marketing campaigns
- detecting cyber threats and weaknesses that could lead to a cyberattack
In the gambling industry, the top use cases of AI for regulators is reducing workload in areas such as annual audits of licenses. For gambling operators and suppliers, top use cases include:
- improving personalization by analysing a player’s history
- identifying risky behaviours, allowing operators to encourage responsible gambling
- automating early intervention messages to customers exhibiting potentially harmful behaviour
This report is part of Vixio’s Outlook series, which provides subscribers with forward-looking insights and consolidated research on key segments of the global gambling and payments industries. This edition is designed to provide high-level intelligence and forecasts surrounding the use, development and regulatory changes affecting artificial intelligence (AI), with a focus on the payments and gambling markets.
The post Vixio Releases 2024 Artificial Intelligence Outlook appeared first on European Gaming Industry News.
CT Gaming has announced that its latest multigame, Diamond King 4, has officially received certification to launch in the Bulgarian market.
“The certification of Diamond King 4 marks a significant milestone, allowing us to expand our presence in gaming halls across the country. This further solidifies our market position and provides operators and players access to one of our most innovative offerings,” Biser Bozhanov, Director of Strategy & Business Development at CT Gaming, said.
Built on the success of its predecessors, Diamond King 4 is designed to exceed expectations and establish itself as the next favorite among players. Launched in celebration of the company’s 25th anniversary, this multigame embodies CT Gaming’s core values – innovation and tradition. It combines classic and modern titles, appealing to both long-time fans of iconic games and new-generation players with enhanced graphics and contemporary gameplay solutions.
One of Diamond King 4’s standout features is its integration with the progressive jackpot Diamond Tree Deluxe. The new concept introduces a variety of reward options and a more engaging player experience, enriched with additional bonus features. Furthermore, the multigame package includes the fan-favorite Duck of Luck, now featuring a fully updated Buy Bonus option.
“We believe this certification is just the beginning of Diamond King 4’s successful integration into key markets – both in Europe and globally,” Biser Bozhanov added.
The post CT Gaming Receives Approval to Launch Diamond King 4 in Bulgarian Market appeared first on European Gaming Industry News.
Network Ten has been found in breach of broadcasting rules after airing gambling advertisements during the australian Formula 1 Grand Prix in March 2024.
An Australian Communications and Media Authority (ACMA) investigation found four gambling ads were aired at prohibited times during a broadcast of the first practice round of the Grand Prix.
Under the Commercial TV Code of Practice (the Code), gambling promotions cannot be shown during broadcasts of sporting events between 5am and 8.30pm, including the five minutes before and after the event.
Authority member Carolyn Lidgerwood said the rules around gambling advertisements on TV are there to protect the community from gambling related harms.
“Broadcasters should have strict controls in place to ensure compliance with the restrictions on gambling ads during sporting events,” Ms Lidgerwood said.
Practice rounds and qualifying rounds for motorsports are subject to the same restrictions on gambling advertising as the main event itself.
This is the first breach by Network 10 of the gambling advertising rules in the Code. During the investigation, Network 10 submitted that the broadcasts occurred due to human error.
Following the ACMA’s breach finding, Network 10 voluntarily improved the planning, checks and balances it has in place for ad scheduling and has, at the ACMA’s request, agreed to review its processes to introduce additional quality controls.
Network 10 will also train staff to avoid similar issues in the future and will provide a written progress report to the ACMA.
In a separate investigation in 2024, the ACMA found that streaming service 10 Play, provided by Network 10, breached online gambling advertising rules during two live-streamed sports events.
“The ACMA will closely monitor these actions and Network Ten’s compliance with the broadcasting and online gambling advertising rules,” Ms Lidgerwood said.
The post Network 10 Breaches Gambling Ad Rules During Formula 1 Grand Prix Broadcast appeared first on European Gaming Industry News.
Compliance Updates
Washington’s Lottery Achieves Nation’s Highest Level of Responsible Gambling Certification
Washington’s Lottery announced that it has achieved the highest level of responsible gambling certification in the country. As acknowledged by the National Council on Problem Gambling (NCPG) and the North American Association of State and Provincial Lotteries (NASPL), Washington’s Lottery officially was certified for “Responsible Gambling Verification Best Practices at the Sustaining Level” in December 2024, the culmination of a process that began with certification at the Planning Level in 2019 and Implementation Level in 2021.
Washington’s Lottery is only the third state lottery in addition to Virginia and Ohio to achieve this milestone. NCPG and NASPL also recognize nine other state lotteries that have achieved a similar certification through the World Lottery Association.
“I can’t begin to express how proud I am of the work our team has done to achieve this important standard. We have a unique obligation as a state agency that sells a gambling product and need to balance the goal of raising money for important state initiatives like education with the need to acknowledge and assist the small percentage of players who may experience gambling-related distress. We take that work very seriously and weave it into all aspects of our jobs,” Kristi Weeks, Director of Legal Services for Washington’s Lottery, said.
To receive the Sustaining Level certification, Washington’s Lottery was evaluated by a team of four independent experts, who reviewed the lottery’s efforts in eight key categories related to responsible gambling: planning, employee training, retailer training, public education and awareness, product oversight, research, advertising, and resources.
“The key to our success has been the integration of responsible gambling initiatives into each and every employee’s position rather than centralizing it into only one or a few positions,” Weeks added.
The post Washington’s Lottery Achieves Nation’s Highest Level of Responsible Gambling Certification appeared first on Gaming and Gambling Industry in the Americas.
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