Connect with us
European Gaming Congress Milan
NSoft

Compliance Updates

Do the right thing

Published

on

Compliance Do the right thing

 

Joonas Karhu, Chief Business Officer at Bojoko.com, says that operators and affiliates in non-regulated markets should still be responsible

 

Online casino operators in regulated markets across Europe and beyond are now having to prioritise compliance and responsible gambling above all else.

This has seen many organisations create dedicated compliance teams, and invest heavily in strengthening the procedures and protocols they have in place to protect players.

They have also had to change the way they market to consumers and in particularly how they use affiliate sites to drive new players through their casino doors.

In the UK, for example, the Gambling Commission has made it clear that operators are ultimately responsible for the content published on their behalf.

This has mounted pressure on the relationship between operators and publishers; in addition, advertising watchdogs are also coming down hard on ads that are misleading.

The result is that it is becoming increasingly difficult for operators not playing by the rules; the only way to succeed in the long term is to act responsibly.

But what about those operating in grey markets in places like Eastern Europe? Do they need to change their approach even if there are no rules or regulator keeping watch?

Here at Bojoko, we believe that practicing and promoting responsible online gambling is the best way forward for all operators and affiliates, regardless of the market they are in.

There are several reasons for this:

  1. Happy and healthy players wager for longer

Players that wager within their means – even if this means setting limits on deposits/withdrawals/sessions – have a much longer lifetime value than those that don’t.

Providing players with the proper tools to help them remain in control of their play allows them to wager in a sensible and sustainable way and over a longer period of time.

It is something we believe strongly about and offer our readers tools to help them cool off or even self-exclude – we recently joined forces with gamban® to provide this.

What’s more, consumers are becoming increasingly savvy and know the difference between a reputable operator or affiliate and one that is not.

  1. Regulation is coming

While some Eastern European markets may not be regulated at present, that’s not to say they won’t be in the not too distant future.

Throughout Europe and further afield, markets that were once grey are now moving towards regulation with determination and at speed.

It is much better for operators – and affiliates – to have taken a responsible approach to their business before they are forced to do so by new rules coming into force.

It also helps with licensing if and when this becomes a requirement – regulators look more favourably on operators and publishers that have done the right thing from day one.

  1. Changing perceptions

The global online gambling industry is still grappling with a reputation issue and it is important for operators and affiliates to help change perceptions.

By taking a responsible and caring approach to players and helping them manage their wagering activity, online gambling brands can improve their reputation among consumers.

This doesn’t take a lot – all they have to do is provide the necessary tools and support, and to also rethink how they market to players and, in particular, the bonuses offered.

The more open, honest and transparent operators and affiliates can be the better.

Operators and affiliates must also work closely together to help spread responsible gambling messages and ensure players have all the information they need to make the right choices.

Doing the right thing, even if you don’t have to, may take additional effort now but it is the only way for operators in Eastern Europe to ensure success in the future.

And the best way of achieving this is to work with affiliates that understand responsible gambling and also put it at the top of their priorities.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Bulgaria

Bulgaria adds more websites to iGaming blacklist

Published

on

Bulgaria-iGaming-blacklist Bulgaria adds more websites to iGaming blacklistReading Time: 1 minute

The State Commission on Gambling (SCG) of Bulgaria has added four more websites to its blacklist of iGaming companies that are operating without a license.

The four websites added to the blacklist as per order no. 1913 of October 28 and no. 1991 of November 9 are nissicasino.com, 1xbet72.com, pokernox.com, 1xdcxc.host.

The SCG periodically updates the list of illegal gambling sites.

The State Commission on Gambling has been established for the purpose of inspecting the compliance with the law of the activity of the gambling games organisers, the producers of gabling game equipment, the distributors and service organisations for the maintenance and repair works of such equipment performed on the territory of Bulgaria.

Source: Latest News on European Gaming Media Network

Continue Reading

Asia

Vietnam to cut hassles for industries, including gambling industry

Published

on

Vietnam’s Ministry of Finance (MoF) has proposed a series of cuts to bureaucracy and red tape hassles for a wide range of industries, including the betting, casino and lottery industries.

The MoF is believed to have proposed a cut of around 51.4 per cent of the business investment commissions under its control. It would also modify 16 decrees, which could be beneficial for insurance, gaming, accounting, customs and securities verticals.

The outlets did not specify exactly what could be stripped out or amended. However, the mere fact that the MoF wants to make monumental changes is a step in the right direction. It has the potential to reinvigorate the gambling industry and comes after regulators have made several changes to gambling-related legislation.

Vietnam approved a measure last December that would allow locals to gamble in two casinos during a three-year trial programme. Currently, casinos are only open to foreign gamblers. While the casinos have yet to be designated, it is believed that the Phu Quoc resort as well as a project in the Quang Ninh province could be included in the pilot programme.

More recently, the country gave sports betting a nod. In May, it approved new gambling regulations that now cover a variety of sports and would see new players enter the industry. The law is expected to take effect January 1 of next year and would provide the framework for a five-year pilot programme that allows local gamblers to place bets on international soccer games, as well as horse- and dog-racing.

Vietnam also loosened its grip on the casino industry in May when it awarded its first casino license in more than a decade. That license went to Laguna Lăng Cô for its $2-billion resort project in the Thua Thien Hue province. The resort initially opened five years ago, and has been hoping ever since to be granted a casino license. Even though it has the license in hand, Laguna Lăng Cô is not yet dealing cards or handing out chips. The casino would not be ready until 2022.

Source: calvinayre.com

Source: Latest News on European Gaming Media Network

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.