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LeoVegas Mobile Gaming Group: Ardalan’s pyrrhic victory risks torpedoing Swedish gambling regulations

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500.com Limited Malta-Based Subsidiary Temporarily Suspends Operations in Sweden
500.com Limited Malta-Based Subsidiary Temporarily Suspends Operations in SwedenReading Time: 3 minutes

 

Open letter to Minister for Public Administration Ardalan Shekarabi

Ardalan’s pyrrhic victory risks torpedoing Swedish gambling regulations

– If players leave, companies will follow suit

On January 1, 2019, new gambling regulations were introduced in Sweden. Minister for Public Administration Ardalan Shekarabi spearheaded the reform, with cooperation from the opposition, resulting in broad support in the Swedish Parliament. The overall mantra was that the state should regain control of the gambling market after decades of gambling moving to companies that operated in Sweden without a license. Parliament’s preferred method of effective gambling market control is what is known as channelling, i.e. regulating what percentage of Swedish consumers choose to play with Swedish-licenced companies.

As expected, this resulted in a crossroads where companies, with the aim of maintaining a long-term business model, welcomed more insight into operations and greater control over players’ behaviour in exchange for a well-functioning and sustainable gaming market. In order to ensure responsible gaming, companies were required to implement a number of measures, such as age verification, bonus limits, limits on deposits and time played, as well as extensive processes to prevent money laundering and unhealthy gambling habits. This became a matter of importance for the 90 companies that chose to apply for a Swedish gaming license and together laid the foundation for a new Swedish gaming market that focused on strong consumer protections.

But not everyone jumped on the Ardalan train. Many companies felt there was more to gain from staying out of the system and continuing to offer games beyond the reach of taxes, controls, and other responsible gaming measures – the so-called black market.

Today, only a year later, it turns out that the “package” that the licensed companies chose to buy and sign onto has changed character completely and thus risks losing all its appeal, benefitting companies that chose to operate on the black market. We must remember that it is the customers who choose where the best product is. In a digital world, that power does not lie with the state, or with us as corporations for that matter.

We operate in a digital world and have direct access to all the relevant data needed to evaluate what measures can help strengthen our players’ safety and security while still providing attractive offers and products. The sad thing is that the government, with Ardalan Shekarabi at the forefront, does not want to talk to us about how we can work together and, with help from the insights we possess, develop a well-functioning Swedish gambling market. This became especially clear when the Minister, on April 23, proposed new emergency restrictions, proclaiming that, “The Government sees major risks in the gambling sector right now.” But the overall gambling industry (private and state) doesn’t see the same pattern at all. Instead, we see how gambling has diminished compared to what it looked like before the covid-19 crisis struck.

This week, the independent research firm Copenhagen Economics published a report describing how more and more players are choosing to spend their time with companies operating on the black market. This can be seen as nothing other than a failing grade for the government, which has completely failed to defend its own licensing system. The biggest drop was among online casinos, where approximately every fourth krona gambled goes to an unlicensed company instead of a company with a Swedish license.

Minister Shekarabi knows about this; he also has access to statistics that reveal a reduction in channelling. But for some inexplicable reason, he doesn’t seem worried that more and more players are going to the uncontrolled black market. The purpose of the re-regulation, which had broad support in the Swedish Parliament, was to create a more sustainable gambling market that functioned well in the long term. Now the minister is about to create a “Wild West 2.0” in the gambling market, and he’s doing it in the name of consumer protection. It is now clear to us that Ardalan Shekarabi does not share our ambition to create a sustainable and safe gambling market since his latest proposal is perhaps the best advertisement yet for players to abandon licensed companies in favour of the black market.

Every company, regardless of industry, wants to be where the customers are. If the customers leave, the companies will follow suit. The Swedish gambling market not only provides safety and security to players but also contributes billions annually in much-needed tax revenue and investment in sports. By slowly eroding the Swedish gaming market month by month, the government risks bringing about major cuts in security, tax revenue, and societal investment.

We can only be left to wonder why Ardalan Shekarabi wants to torpedo his own gambling regulations.

Stockholm 2020-04-30

Pontus Lindwall, CEO, Betsson AB

Henrik Tjärnström, CEO, Kindred Group

Gustaf Hagman, Group CEO, LeoVegas

Therese Hillman, CEO, NetEnt AB

Ulrik Bengtsson, Group CEO, William Hill Plc

Source: leovegas.mynewsdesk.com


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: LeoVegas Mobile Gaming Group: Ardalan’s pyrrhic victory risks torpedoing Swedish gambling regulations

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.

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Atlaslive at Mare Balticum Gaming Tech Summit in Tallinn

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Atlaslive, a dynamic iGaming platform, will attend the Mare Balticum Gaming Tech Summit in Tallinn on June 4-5. CMO Bogdana Yavorskaya, CPO Lasha Kupatadze, and COO Lidiia Vakulenko will represent the Atlaslive company at the event.

Lasha Kupatadze will participate in a dynamic panel discussion on “Future-Proofing Digital Engagement: Mastering Gamification, Mobile Innovation, and Regulatory Compliance in the AI Era.” He will provide expert guidance in gamification strategies that help improve player loyalty and the best times for businesses to adopt mobile technology. The company’s experts will provide practical advice on how to use these digital tools to meet new regulations and boost customer engagement, keeping Atlaslive ahead in innovation.

Lasha Kupatadze said, “At the Summit we will explore the biggest challenges and find robust solutions that will not only ensure compliance but also build lasting customer loyalty and operational resilience in the face of tech advancements. I will share my experience and insights during the panel discussion and will tell you about the role of game-like elements which can be effectively integrated, adding layers of rewards, challenges, and competition that really work and can boost user engagement and motivation.”

Atlaslive’s CMO Bogdana Yavorskaya and CPO Lasha Kupatadze will also participate as keynote speakers with their presentation at the summit. Their topic for discussion will be “Navigating the Nordic iGaming Landscape: Insights into Market Dynamics, Trends, and Sports Betting Evolution,” to share fresh analytics and real-life experiences. Their presentation will provide applicable insights into iGaming to meet the changing needs of today’s customers. The presentation will highlight the key trends and what’s really needed for these markets to grow today. They will offer practical solutions and insights into sports betting to meet the changing needs of today’s customers.

Bogdana Yavorskaya, CMO of Atlaslive, talks about the key advantages of their platform, especially its customizable Sportsbook component. “Atlaslive has an in-house developed Sportsbook that is fully automated and can be easily & quickly integrated. You can adjust your product to fit any market with our ready-to-use kits and presets. Analyzing current trends where players want more personalized and interactive gaming experiences, this offers for any iGaming business opportunity to boost  operations worldwide with a platform that adapts well to different laws and equipment needs,” she explains.

There will also be an awards ceremony at the event where Atlaslive is nominated in four key categories. We will be happy to connect with the best from the industry and celebrate the achievements and innovations in the igaming and technology sectors.

Join us in Tallinn to communicate with our team members from Atlaslive. Receive more information about Altaslive on the website and LinkedIn.

Atlaslive, the tech behind the game.

The post Atlaslive at Mare Balticum Gaming Tech Summit in Tallinn appeared first on European Gaming Industry News.

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UNBOX THE FUN AND UNLOCK THE WINS IN TOY BOX BY BOLDPLAY

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Get ready to dive into a world of fun with Toy Box – the exciting new slot game from Boldplay, where colourful clusters and tumbling toys can lead to a prize bonanza!

Featuring a unique 4×5 reel layout where any five adjacent matching toys trigger an instant win, Toy Box introduces players to a lively cast of toys who, when grouped together, unlock some of the game’s most lucrative rewards. With the popular cascading wins feature, players’ initial prizes will be stored away as winning toys vanish, making room for new ones to tumble down and potentially enhance the overall win.

The fun doesn’t stop there – multiple cascades can occur during each round, with the excitement only ceasing when no new wins are formed. Plus, to assist players in uncovering a treasure trove of prizes, the Toy Box logo acts as a wild, capable of substituting for any regular toy to complete potential clusters. Additionally, at the start of every spin, one reel space can be highlighted at random; land a wild in this spot, and adjacent toys may also transform into wilds, boosting your chances of a big win!

Speaking of the new title, Head of Design, Marcus Taylor said: ” With Toy Box, we wanted to create a slot game that’s just bursting with fun and excitement. With colourful clusters, tumbling toys, and unique features designed to give players an engaging and rewarding experience, we’re confident it will be a smash hit with both players and operators alike.”

The post UNBOX THE FUN AND UNLOCK THE WINS IN TOY BOX BY BOLDPLAY appeared first on European Gaming Industry News.

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SOFTSWISS Unites iGaming Community to Aid Brazil Floods

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In response to the worst flood in Brazil’s history, SOFTSWISS, a global tech provider of innovative iGaming solutions, has launched a multi-phase charity project. The campaign aims to not only provide immediate aid to those affected and long-term support in restoring the region but also invite industry players to join the initiative.

At the end of April, the Brazilian state of Rio Grande do Sul faced a severe flood. Many urban areas are still submerged, with specialists saying the water is not expected to recede soon. The humanitarian situation worsens daily as the weather deteriorates, and food, water, and warm clothing shortages become more acute. The state and the public, including companies and individuals, are doing their best to help.

SOFTSWISS has initiated the campaign to involve the iGaming community to support the region. 

“Recognising Brazil as a key market, SOFTSWISS has dedicated significant efforts to establish a strong presence here. Our goal is to be a reliable partner to the Brazilian people and help the local industry grow. We now have employees in the region, and in light of the country’s recent hardships, standing aside is not an option. We are committed to supporting the people of Brazil during this difficult time,” said Ivan Montik, Founder of SOFTSWISS. “We are providing emergency financial assistance, partnering with organisations that can swiftly deliver food, clothing, and water to those impacted by the flood. Additionally, we are developing a long-term initiative to install water purification equipment in schools in the affected regions.”

Providing Direct Assistance

Recognising the severity of the situation, SOFTSWISS has allocated funds to deliver essential supplies such as food and gas to those in need. This immediate assistance is being facilitated through Movimento União BR, a local charity organisation. 

Beyond immediate help, SOFTSWISS is committed to supporting Brazil’s long-term recovery. The company has pledged additional resources to PWTECH for the installation of water purification equipment in schools across the affected regions of the state of Rio Grande do Sul. This will provide a sustainable solution to ensure access to clean drinking water not just during this crisis, but for future generations.

Engaging the iGaming Community

SOFTSWISS is calling upon the global iGaming community to join its relief efforts initiative. In addition to the financial contribution, the company provides crucial informational support. SOFTSWISS, in conjunction with its Non-Executive Director in Latin America, Rubens Barrichello, has chosen a trusted Brazilian charity partner to help those who suffered in the flood:

  • Movimento União BR – a volunteer movement that acts as a bridge between those who want to help and those who need help. Started in 2020 to fight against the effects of the coronavirus pandemic in Brazil, it has supported more than 26 million people and 4 thousand NGOs.

In addition, anyone can contribute to help flood victims through an official channel activated by the government of Rio Grande do Sul.

SOFTSWISS guarantees that donations effectively reach people in need.

Rubens Barrichello, SOFTSWISS Non-Executive Director in Latin America: “I am very glad the SOFTSWISS team I joined is committed to supporting Brazilians in this difficult situation. Having launched many charity initiatives with the Barrichello Family Institute, I am grateful that, together with SOFTSWISS, we also have the opportunity to help those who need our support now.”

By supporting these verified charities alongside SOFTSWISS’ financial and informational aid, the iGaming community can make sure their contributions directly help those affected by the Brazilian flood.

Brazil needs iGaming community action!

 

About SOFTSWISS 

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

The post SOFTSWISS Unites iGaming Community to Aid Brazil Floods appeared first on European Gaming Industry News.

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