Bulgaria

Interview with Ekaterina Alexandrova, Senior Legal Advisor at EGBA (European Gaming & Betting Association)

Published

9 years ago

November 19, 2015

Dr. Ekaterina Alexandrova is Senior Legal Advisor at the European Gaming and Betting Association (EGBA) since September 2013. She deals with legal and policy work on behalf of EGBA members both on a European and national level in the field of online gambling and sports betting. Prior to working at EGBA, Ekaterina worked on complaint and infringement handling in relation to the legislation of DG Health and Consumers at the European Commission. Other work experience includes work as an Assistant to a Member of European Parliament and an intern at a Brussels-based consultancy. Ekaterina possesses a Ph.D in Health Policy from the Medical University-Sofia, as well as an LL.M in European Law and a Bachelor of Arts in European Studies from the University of Maastricht, The Netherlands.

Ekaterina will is the Moderator of REGULATORY UPDATE FOR EASTER EUROPE & Speaker for the 4 AMLD (anti-money laundering directive of EU) at the Eastern European Gaming Summit 2015 which will be held next week between the 23rd and 25th of November in Sofia, Bulgaria. More details here.

EEG: Hi Ekaterina, since you are one of the key speakers and moderator of the REGULATORY UPDATE FOR EASTERN EUROPE and also a speaker in the PROTECTION AGAINST FRAUD & MONEY-LAUNDERING panels, we would like to have a sneak preview about what the discussion and your presentation will be all about.

Can Eastern European countries learn from the recent Malta incidents that involved licensing?

Ekaterina: In any regulatory system it is key that all stakeholders stay vigilant when it comes to the prevention of fraud and money laundering. Regulatory systems must be sufficiently robust and up to date to be able to effectively prevent and fight crime, but it is impossible to completely exclude every risk. Malta has a proven licensing system and many years of practical experience with enforcing its licensing system, but it shows that the authorities must remain extremely attentive when it comes to prevention of fraud.
It should be added that due to the lack of cash money in the system and with the traceability of the internet, there is no data suggesting that criminals are specifically targeting EU regulated online gambling providers for money laundering purposes.
EEG: Europe is still the leader of the market when it comes to the e-Gaming industry, but how long can it last? Our opinion is that it will become stronger once more regulations will come into force, what is your opinion on this?

Ekaterina: The online gambling sector is one of the few if not the only digital sector where the EU is the world leader. However, EU-regulated operators face competition from operators outside the EU, who, at best, comply with much less stringent legislative frameworks. A significant threat to the competiveness of the EU regulated operators is the lack of harmonization and the fragmentation of the market in 28 mini internet markets, all of which result in high compliance costs for EU-regulated companies. In other words, while EU-licensed operators are obliged to comply with an increasing number of national regulations, which causes regulatory duplication and prohibitively high regulatory costs, non-EU regulated operators do not face those costs and therefore have a massive competitive advantage.
For this reason, we consider that it is not a question of more or less regulation, but rather a question of better regulation. We cannot continue with the current fragmentation of the EU gambling legislative framework, which does not lead to higher consumer protection. A European approach will result in an equally high level of consumer protection throughout the EU and give effective tools to fight crime, while at the same time not impose unnecessary burden on the operators, allow them to stay competitive and ensure that EU players are channeled to the regulated offer.
EEG: What does good regulation mean in the gambling sector?

Ekaterina: A good gambling regulation is the one that duly protects consumers, channels them to the regulated offer and prevents gambling-related crime while allowing for healthy competition between regulated companies through the creation of a working market. This balance is not easy to strike. While lenient legislation fails to duly protect EU citizens, too rigid protection standards create a disincentive for players to go through often long and burdensome registration processes and instead choose to play with the “one-click away” black market where registration is easy and odds are better due to the non-existence of taxation and compliance costs.
Additionally, over- regulation, unreasonable taxation levels and high compliance costs create a bad business case for a market, which, in turn, does not create interest for reputable operators to obtain a license to enter the said market. Statistics have demonstrated that this a common mistake made by some Member States who, concerned by the threat of illegal operators and the need for adequate responsible gambling provisions, enact legislation that is so strict that it ends up channeling consumers towards the unregulated offer. However, if the aforementioned balance is struck, as has been the case in Denmark, gambling demand can be properly channeled towards the regulated market to the benefit of the player, the regulator and the operators alike.

If you would like to get the unique opportunity to ask all your important questions and learn first-hand details about the REGULATORY UPDATEs FOR EASTER EUROPE, be sure to attend the Eastern European Gaming Summit at which Ekaterina Alexandrova will moderate the panel and also speak about Anti-money laundering directive of the EU. For 8th consecutive year on 23 – 24 November 2015, Inter Expo Center in Sofia, Bulgaria will bring together under one roof world’s leading figures and companies from the industry to present and outline current market developments and future trends with global vision and focus on the Eastern European market.

Visit the EEGS website here.

Zoltan "Hawkie" Tundik

With an experience of over 8 years in the online gambling industry, as an affiliate, later affiliate manager and consultant, I consider myself a veteran of the industry and can guarantee that you will be served with the most accurate information.

Prague Gaming & TECH Summit 2025 (25-26 March)

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Bulgaria

SOFTSWISS Gets Certification for Its Jackpot Aggregator in Bulgaria

Published

3 weeks ago

October 15, 2024

George Miller

SOFTSWISS, a leading technology provider for iGaming, has further solidified its presence in the European market by securing certification for its Jackpot Aggregator in Bulgaria.

The iGaming market in Bulgaria is experiencing significant growth, attracting new businesses despite stringent domestic regulations. The market is projected to generate 168.70 million euro in revenue by 2028, with an annual growth rate of 5.42%. The number of users is expected to reach 377.3 thousand by the same year, further highlighting the sector’s momentum.

In line with this growth, SOFTSWISS announces that its Jackpot Aggregator has received certification from Gaming Laboratories International (GLI), ensuring it meets all technical requirements for use in the Bulgarian market. With the new certification of the SOFTSWISS Jackpot Aggregator, Bulgarian-licensed operators can integrate this advanced engagement tool into their casino offerings.

In May, SOFTSWISS successfully entered the Bulgarian market through a partnership with Topwin.bg, which implemented the SOFTSWISS Casino Platform, the Game Aggregator, and the Sportsbook.

“We are seeing a strong surge in interest in our jackpot mechanic, fueled by the growing demand for engagement tools in the market. That’s why we are committed to further developing the Jackpot Aggregator, enhancing its features, and expanding into new markets. Certification for the Bulgarian market is a clear testament to our ambition and drive for expansion. We are actively working on obtaining certifications in other jurisdictions,” comments Angelina Stasiuk, Head of Business Line at SOFTSWISS Jackpot Aggregator.

SOFTSWISS has several international and national licences and certifications, including a South African licence acquired through the purchase of a majority stake in Turfsport. The company recently announced its plans to become the first certified software provider in Brazil.

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

Bulgaria

Betway Bulgaria officially launches, offers live and bet-builder options

Published

3 years ago

March 22, 2022

George Miller

Another company has officially launched its activities in the growing niche of online betting in Bulgaria. But here we are not just talking about another operator licensed by national institutions, but about a leading brand worldwide. Betway is one of the largest bookmakers in Europe and globally, and the fact that it already offers its services in Bulgaria speaks positively about the development of the gambling business in the country.

Indications of an increase in the size of the industry appeared last year, when several operators received a permit to operate under Bulgarian jurisdiction. It is unlikely that this process will end with the official launch of betway bulgaria, rather the brand entering the country can be perceived by international operators as a positive assessment of the market in Bulgaria. What can we find at Betway besides the obvious – increased competition and of course more choice for consumers?

What do we find in the sports section?

Sports betting – this is the leading sector of the company, which started operations in 2006. The brand is associated with a number of teams in Europe such as Tottenham, Atletico Madrid, Leicester, Alaves, Belenenses, Werder, etc. Of course, the top championships in Europe are present in the latest betting platform, but that’s not all. Betway offers the opportunity to make predictions at less popular UEFA championships. The fans of the Bulgarian championship have options too. All matches of the First League are present in the bookmaker’s menu, and are offered with dozens of choices for each of them.

Real-time bets and long-term combinations

Live bets are a big thrill for many players. This option is present at Betway, and this also applies to the mobile version, of course. It is not difficult to detect current events – they come first when loading the platform. And with them the bookmaker really comes up with interesting offers, some of which are rare on the Bulgarian market. The outcome of the bets become clear in literally seconds if the next goal market or one of the performance options is selected.

In addition, the company accepts predictions with a much longer horizon. It is now standard to bet on who will be the champion in England, Spain, Italy or Germany. However, there are also specific markets and selections for certain teams – will Barcelona take the trophy this season, will Liverpool reach the final in at least one of the tournaments in which it participates, etc. And if users don’t find what they’re looking for in these offers, they can always turn to the betting menu. The bet-builder is still limited to one match, from which we can choose two or more selections until the desired odds are formed. This is the most appropriate way to optimize the bet according to personal preferences and therefore it is increasingly preferred by the players.

Betway’s first steps on the Bulgarian market are impressive. And this is just the beginning, we can expect even more in the near future.

Bulgaria

Online gaming revenues surge in Bulgaria

Published

6 years ago

December 5, 2018

George Miller

Online gaming revenues surge in Bulgaria Reading Time: 1 minute

The Bulgarian Trade Association of Manufacturers and Operators in the Gaming Industry’s (BTAMOI) reports that the country’s online gaming revenues showed a growth in the last financial year. The industry paid €57 million in taxes to government, which corresponds to a 17 per cent rise year on year. BTAMOI said in a press release: “For the period 2017/2018 the gaming industry in Bulgaria has shown very good results at national level, based on the country’s upward economic performance.”

The online gambling segment in Bulgaria represents about 10 per cent of the country’s total gambling market. The segment posted a revenue of €89 million in the nine months to September 30, a spike of 30 per cent compared to the figure same time last year.

Source: Latest News on European Gaming Media Network