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British Gambling Commission Initiates Second Round of Consultations on Gambling Regulation

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In a pivotal moment for the UK’s gambling landscape, the British Gambling Commission has launched its second round of consultations, building upon the government’s comprehensive gambling review white paper unveiled in April. As the regulatory body takes another stride toward shaping the future of gambling in the country, it has set forth five key areas for deliberation during the 12-week consultation period, concluding on February 21, 2024. From socially responsible incentives to the shift in regulatory returns frequency, these consultations aim to fortify the foundations of a safer and more transparent gambling environment. Explore the core topics and the petition that’s ruffled feathers, sparking concerns about equine welfare and online gambling affordability checks.

In a dynamic progression towards refining the contours of gambling regulation in the United Kingdom, the British Gambling Commission has ushered in the second round of consultations, forging ahead after the UK government’s seminal gambling review white paper released in April. These consultations, spanning a 12-week period and culminating on February 21, 2024, represent a crucial juncture in reshaping the nation’s gambling landscape, placing the welfare of players at the forefront.

The five areas of focus in this deliberative process encapsulate pivotal aspects of gambling regulation, each carrying significant implications for the industry and its consumers. These consultations underscore the commitment to fostering socially responsible gambling practices, ensuring that free bets and bonuses do not inadvertently fuel excessive gambling behavior. Moreover, customer-led tools, such as deposit limits, are on the agenda to empower players with greater control over their gaming experience.

Transparency is another cornerstone of these consultations, with proposals aimed at enhancing the visibility of protective measures in cases where gambling licensees offer no safeguarding in times of financial insolvency. Furthermore, the discussions delve into the removal of existing obligations for financial contributions to research and treatment bodies. These donations, once mandated, will become obsolete under the government’s proposed mandatory levy on gambling operators, charting a new course for funding initiatives focused on tackling problem gambling.

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A proposal of regulatory significance is the potential shift in the frequency of regulatory returns from an annual to a quarterly cadence. This move holds the potential to enhance regulatory oversight and responsiveness, aligning the industry’s operations more closely with evolving standards and expectations.

Tim Miller, the Executive Director for Research and Policy at the Gambling Commission, emphasized the paramount importance of soliciting diverse perspectives in this process, asserting that these consultations will play a pivotal role in shaping gambling regulation across the nation. The drive for safer and more responsible gambling practices stands as a linchpin in the commission’s overarching mission.

However, amid these consultations, a parallel narrative unfolds with a petition initiated by Nevin Truesdale, the CEO of the Jockey Club, amassing over 100,000 signatures. This petition directly challenges the Gambling Commission’s plans for financial risk checks, sparking concerns about the potential discriminatory nature of these checks based on geographic location or occupation.

The proposed ‘unobtrusive’ financial risk checks for online gamblers losing £125 in a month or £500 in a year, coupled with more comprehensive checks for those losing £1,000 in a day or £2,000 over three months, have raised apprehensions within the racing sector. The anticipated impact of these checks on equine welfare and betting revenue, with a potential £250 million decline, adds complexity to the ongoing discourse.

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As the British Gambling Commission navigates these consultations and the industry grapples with evolving regulations, the landscape of gambling in the UK is poised for transformation, propelled by a commitment to responsible gaming and the diverse array of voices shaping its future.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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SOFTSWISS Jackpot Aggregator Sees 2.6x Surge in Bets: 2023 Report

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In a dynamic year for the iGaming industry, the SOFTSWISS Jackpot Aggregator has released its 2023 report, offering insights into significant trends and achievements.

Notably, the report reveals a staggering 2.6 times increase in bets participating in jackpots, shedding light on the growing appeal of these mechanics among operators and players alike.

A Year of Remarkable Growth

Throughout 2023, bets participating in jackpots experienced consistent quarterly growth, witnessing a remarkable 165% increase from January to December. By the end of the year, the total value of these bets had surged to an impressive 6.396 billion euros. Moreover, the number of jackpot campaigns witnessed a substantial growth of 3.8 times compared to the previous year, totaling 230 campaigns.

Expanding Reach and Impact

One of the standout achievements of 2023 was the expansion of the Jackpot Aggregator’s footprint. The number of brands utilizing its jackpot solution tripled within the year, culminating in over 70 active brands by year-end. This surge in adoption reflects a heightened level of market trust and interest in the product.

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Introducing the Prime Jackpot Campaign

A significant milestone of 2023 was the introduction of the Prime Jackpot campaign, which debuted in Q4. This innovative feature garnered considerable attention and interest from players across various casinos. The Prime Jackpot campaign allows operators to participate in shared prize pools, ensuring that rewards are drawn from the collective pool rather than from a specific brand operator. This approach not only offers larger rewards to attract more players but also enhances player engagement and loyalty while optimizing operational costs for operators.

Insights from SOFTSWISS

Aliaksei Douhin, Head of SOFTSWISS Jackpot Aggregator, shared his insights into the year’s achievements. He emphasized the noticeable increase in clients and connected casino brands, as well as the growing volume and value of bets in jackpots. He expressed satisfaction in witnessing clients actively embracing the Jackpot Aggregator and recognizing the added value it brings to their brand operations. The solution empowers operators to provide players with enhanced gaming experiences and more enticing winnings. Client feedback is actively collected and analyzed to ensure clients have access to the most sought-after tools and mechanics.

Looking Ahead to 2024

In 2024, the SOFTSWISS Jackpot Aggregator is set to extend its reach to a wider spectrum of clients. This expansion will be guided by a customized approach, ensuring that each client can tailor the product’s capabilities to meet their specific requirements.

Meet SOFTSWISS at ICE London

The SOFTSWISS Jackpot Aggregator team will be present at ICE London from February 6th to 8th, 2024. They are ready to showcase their latest advancements and engage in discussions with existing and potential clients.

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About SOFTSWISS

SOFTSWISS is a renowned international iGaming company that offers certified software solutions for managing gambling operations. With a dedicated team of over 2000 employees spread across Malta, Poland, and Georgia, SOFTSWISS holds multiple gaming licenses and provides comprehensive iGaming software solutions. Their diverse product portfolio includes the Online Casino Platform, the Game Aggregator featuring thousands of casino games, the Affilka affiliate platform, the Sportsbook software, and the Jackpot Aggregator. In 2013, SOFTSWISS made history by introducing the world’s first Bitcoin-optimized online casino solution.

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