The Gambling Regulators European Forum (GREF) has taken a significant step in enhancing regulatory cooperation with the establishment of a new working group dedicated to anti-money laundering (AML). This initiative, spearheaded by the association of European gambling regulators, aims to bolster the integrity of the gaming sector through improved information exchange and collaboration among member countries.
In a pivotal move to combat financial crimes in the gambling industry, GREF introduces a specialized AML working group, marking a new era of international regulatory cooperation.
Chaired by Christophe Vidal of France’s National Gambling Authority (ANJ) and Rachel Bezzina from the Malta Gaming Authority (MGA), this new group will facilitate the sharing of best practices and developments in AML strategies among its members. The focus is on fostering a united front against money laundering and terrorist financing within the gaming industry.
The creation of this working group is a response to the diverse implementation of AML regulations across the European Union. By promoting a unified approach and sharing valuable insights, GREF aims to reinforce the sector’s integrity and prevent the exploitation of gaming businesses for illicit purposes.
Stay informed about the progress and insights from this collaborative effort. As the working group evolves, it will offer valuable perspectives and strategies for effectively tackling AML challenges in the gambling industry.
In addition to sharing best practices, GREF members may consider potential joint actions in the AML arena, highlighting the group’s commitment to proactive and collaborative regulatory measures.
The importance of this initiative is underscored by the MGA’s statement, which emphasizes the varied implementation of AML regulations across jurisdictions. The new AML working group seeks to bridge these gaps, facilitating a more coherent and effective approach to AML compliance and enforcement.
Moreover, GREF recently entered into a partnership with the North American Gaming Regulators Association (NAGRA), further expanding its collaborative reach. This alliance, encompassing around 100 gambling regulators from both Europe and North America, aims to foster knowledge and information exchange on a global scale.
NAGRA, comprising regulatory agencies from various levels of government across North America, and GREF, representing regulators from across Europe, envision a partnership that enriches both bodies through shared expertise and insights. This collaboration is poised to enhance the global regulatory landscape, ensuring more robust and harmonized approaches to gambling regulation and AML practices.
SOFTSWISS Jackpot Aggregator Sees 2.6x Surge in Bets: 2023 Report
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.
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.
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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