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Kentucky AG supports gambling to fuel pension funds

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Andy Beshear, Kentucky Attorney General, has urged legislators to widen the scope of legalised gambling to various avenue such as casinos, sports gaming and eventually online poker. He pointed out that gambling can become a dedicated revenue source for Kentucky’s underfunded pension plans.

Beshear wrote in a letter to the lawmakers legislators: “The solution is not to cut legally promised benefits, but to create a new and dedicated stream of revenue solely for pensions that does not raise any Kentuckian’s taxes.  The answer is simple—expanded gaming including casinos, fantasy sports and sports gaming, as well as preparing for the eventual legalisation of online poker.”

Kentucky has the biggest public pension funding gap among the US states. Its total pension liability of $64.9 billion receives only 33.9% funding. In April, a Franklin Circuit Court judge ruled that a lawsuit Mr. Beshear filed against a pension reform law could move forward. His lawsuit is before the Kentucky Supreme Court, according to a release from Mr. Beshear’s office.

Besher filed a lawsuit at the Kentucky Supreme Court against a legislation, signed into law April 10 by Gov. Matt Bevin, that will put new teachers into a hybrid cash balance plan instead of the existing defined benefit plan overseen by the $18.1 billion Kentucky Teachers’ Retirement System, Frankfort.

He says the residents of Kentucky spend more than $1 billion in casinos in other states where casino gambling is legalised. He also pointed out that tax revenue from gambling in some of these states has touched $2.4 billion per year.

“The General Assembly should pass legislation to allow expanded gaming, but dedicate all of the revenue to Kentucky pension systems until those systems are fully funded,” Mr. Beshear wrote.

Mr. Beshear’s office could not immediately be reached for comment.

Blake Brickman, chief of staff for Mr. Bevin, said in an emailed statement that “funding alone will not solve the problem” facing Kentucky’s pension plans.

“Expanded gaming is a tired tenet of the Democratic Party, so it’s no surprise that candidate Beshear is using his official office to call for a policy which is also conveniently part of his campaign platform. Gov Bevin is the only governor to commit to fixing the pension crisis by fully funding the system and calling for necessary reforms to ensure that Kentucky can deliver on the promises made to retirees and current state workers.” Mr Brickman wrote.

Incidentally, Besher will be running for Kentucky’s governorship in the upcoming election in 2019.


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SOFTSWISS Launches Bug Bounty Program to “Hack the System”

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SOFTSWISS, a leading software supplier in the iGaming industry, has announced the launch of its private Bug Bounty Program to boost cybersecurity. The program invites white hat hackers and independent security researchers to identify vulnerabilities, offering rewards for their findings and ensuring the highest level of security for SOFTSWISS clients.

To ensure that only significant cases that meet specific requirements are reported, SOFTSWISS launched a private program with invitation-only access. Invitation-only programs encourage white hat hackers to pay close attention to their terms and requirements, resulting in higher-quality reports. While public programs can offer broader perspectives but tend to generate more irrelevant reports, the private launch ensures that the focus remains on critical security issues. 

The Bug Bounty Program offers financial incentives of up to 3,500 euro, depending on the severity and complexity of the discovered vulnerabilities. This program serves as an additional layer of defence, providing external, unbiased assessments from highly skilled security experts. 

“We care about the security of our clients and their players, which is why it is important for us not only to pay close attention to protecting the products we develop but also to constantly recheck our applications with the help of skilled external experts and enthusiasts. In collaboration with the expert community, we can ensure a reliable level of data protection and uninterrupted operations for all our clients,” said Evgeny Zaretskov, Group Chief Information Security Officer at SOFTSWISS. “SOFTSWISS is proud to set a new standard for cybersecurity by leveraging crowdsourced expertise. In this ever-evolving landscape, even a minor bug can lead to significant losses for operators. The Bug Bounty Program is an extra measure to protect our existing and future clients.”

The program has started with two products: the SOFTSWISS Casino Platform and the SOFTSWISS Sportsbook. It is conducted in a dedicated test environment, which operates independently of live casino systems, ensuring no disruption to player experience or platform performance.

“Cybersecurity is an ongoing battle,” adds Artyom Buchkov, Deputy CSO. “No company can discover all vulnerabilities on its own. This program enables talented hackers to legally hack an online casino, helping us anticipate and defend against potential threats. It strengthens our commitment to providing the most secure software and platforms in the iGaming industry.”

Moving forward, the SOFTSWISS cybersecurity team plans to broaden the frames, adding more products and refining requirements to maintain the highest standards of security across all platforms.

Cybersecurity in iGaming, along with other key topics in the industry, can be discussed with our specialists and product teams at the SBC Summit Lisbon at stand B-160 from 24 to 26 September.

 

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.

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Peter & Sons’ Unleashes ‘Evil Devil’ Slot

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Cutting-edge game studio Peter & Sons is about to unleash hell. The Barcelona-based outfit’s diabolical new slot, Evil Devil, will be released globally on 19th September, and it comes packed with wickedly innovative mechanics, such as sticky respins, power splits, increasing multipliers, and a thrilling Free Spins Game with a possible buy option.

This 6×7 high-volatility video slot with up to 117,649 ways to win immerses players in a cartoonish hellscape presided over by the fiery lord Satan Sama. With a devilish surf guitar soundtrack and chaotic but gripping gameplay, there’s nothing else quite like it on the market.

Winning combinations in the base game trigger the sticky respin feature, causing winning symbols to stick in place while the non-winning symbols respin. Wild symbols can appear on reels 2 to 6, increasing the chances of forming winning combinations.

But all hell breaks loose when 4 to 6 scatter symbols land on the reels, awarding 15 to 20 Free Spins. Here, winning symbols stick to their positions, triggering a respin of the non-winning symbols.

Collecting three or more skull symbols during Free Spins triggers a random multiplier. Meanwhile, power splits can randomly occur during the first respin, converting winning symbols into wilds, enhancing the chances for some big payouts.

Can’t wait to hit the bonus feature? The good news is you can buy straight into the Free Spins game for 100x the bet, instantly accessing 15 to 20 random free spins and the game’s most thrilling features.

Yann Bautista, Commercial Director and Founder at Peter & Sons said: “We’re always looking to push boundaries in everything we do, and we like to let our artists’ imaginations run wild. Too often with online slots you see the same tired themes and clichés. We think Evil Devil is an avant garde masterpiece – but it’s underpinned by solid mechanics and brilliant features.”

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Aston Villa launches Champions League campaign with Betano by its side

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The Villans and their principal partner celebrated the club’s return to topflight European football, in an event bringing togethers legends of the past and stars of today

Aston Villa FC has embarked on its first ever Champions League journey with a 3-0 victory over BSC Young Boys in Bern’s Stadion Wankdorf this past Tuesday. A few days earlier Aston Villa and their principal and front of shirt partner Betano, Kaizen Gaming’s premium online sports betting and gaming brand, celebrated the Villans’ historic first ever Champions League campaign with a special event hosted  at Aston Villa’s Bodymoor Heath training ground.

The event brought together legendary members of the 1982 European Cup winners, Nigel Spink and Kenny Swain, former player and Aston Villa ambassador, Ahmed Elmohamady and current stars, captain John McGinn, Ezri Konsa, Pau Torres and of course coach Unai Emery. Attendees had the opportunity to meet and hear directly from their favorite stars, while also participating in different activities, including an exclusive tour of Aston Villa’s training facilities and a behind the scenes look of the team’s training session. The club’s third kit was also unveiled for the first time ever during the event. The kit proved to be a lucky one as it was worn in a game for the first time in the Champions League match in Switzerland. For this match Betano donated its front-of-shirt space to Aston Villa, which in turn offered it to Acorns Children’s Hospice.

Julio Iglesias Hernando, Chief Commercial Officer at Kaizen Gaming, commented: “We are very honoured as Aston Villa’s official main shirt sponsor to stand alongside them in this next exciting chapter of their illustrious 150-year history. This is truly an exciting time to be a fan of Aston Villa, as we all share the club’s passion and determination to improve every day, to compete with the very best and to claim their place among the elite.”

Chris Heck, President of Business Operations at Aston Villa, added: “We are proud to have Betano join us as we embark on a new era for Aston Villa. They are a global brand engaging with millions of football fans across Europe and Latin America which matches our vision to globalise our club. Their passion for football and commitment to responsible gaming and giving back to society aligns perfectly with our own club values. The return to the top of European club football is an exciting moment for our fans, partners, and everyone involved at the club. ”  

The post Aston Villa launches Champions League campaign with Betano by its side appeared first on European Gaming Industry News.

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