iGaming Industry
Shared poker liquidity: will the Italians leave cash game players behind?
Representatives of the Italian gambling industries primary stakeholders, LOGiCO, have penned a response to the Italian Democratic Party Senator, Franco Mirabelli’s claims that a shared liquidity scheme opens a Pandora’s Box of pain and misery.
When the Italian Democratic Party Senator, Franco Mirabelli, looks at the scheme to share online poker liquidity with France, Portugal, and Spain he sees nothing but a car wreck. Representatives of LOGiCO, the gambling industry association created in 2016 to muzzle the barking from dogs like Mirabelli, vehemently disagree.
The pace of the shared liquidity between those prime European nations has spun as slowly as the wheels turning on the overturned cars in that wreck that Mirabelli observes. But in July, the French gaming regulator ARJEL announced that the quartet of countries had signed a shared online poker liquidity agreement, and poker players began blowing on their kazoos.
Here is a snippet of a joint statement made by the gambling regulators in the four countries at the time of signatory.
“The Italian, French, Portuguese and Spanish online gambling regulatory authorities will sign an agreement concerning online poker liquidity sharing on 6 July 2017 in Rome. This agreement will set the basis for cooperation between the signing Authorities in this context and will be followed by further necessary steps within each of the jurisdictions involved in order to effectively allow for liquidity poker tables.”
But one man disagrees with the move, and that man is Mirabelli.
The man who sits on the anti-mafia commission told the Italian press that he was going to make it his duty to approach the Minister of Economy and Finance, Pier Carlo Padoan, to thrust a very sturdy piece of metal into the wheel of the machinery.
Mirabelli called the agreement a tool of recycling which is Italian code for money laundering and fraud. The politician also believes that Italian poker players will be less protected if the boundaries placed to protect are widened to encompass four countries.
LOGiCO Bite Back
Over the weekend, an article appeared in the popular Italian poker media news site GiocoNews, claiming to be from LOGiCO representatives, the industry association chaired by executives from the likes of Paddy Power Betfair and PokerStars.
In response to Mirabelli’s view that shared liquidity would increase the opportunity for money laundering, because France, Portugal, and Spain’s systems aren’t as squeaky clean as the Italians, LOGiCO reminded him that all four nations have thoroughly verified the matter and comply with money laundering regulations.
The article noted:
“Legal practitioners use specialised teams and state-of-the-art technologies to ensure compliance with such measures, including the Know Your Customer (KYC) processes and financial flow analysis.”
On the question of fraud, LOGiCO believes the more prominent the system, the easier it is to identify fraudulent activities such as collusion. The Industry chiefs also pointed out that Italians currently play on unregulated shared liquidity sites where there is an increased likelihood of fraud because they don’t have the same thorough audits of a regulated site.
Can Mirabelli’s interventions result in a shared liquidity scheme seemingly bent in all manner of strange angles?
It would appear so.
In a clear sign of a win-win scenario, LOGiCO representatives make it abundantly clear that they don’t see the same car wreck that Mirabelli sees. However, if the Italian regulator does see it, then rather than trying to dismember the entire structure, they suggest proceeding on a trial basis with poker tournaments, leaving cash game players behind.…
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Source: EEGaming.
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.
Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.
The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.
SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.
Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.
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