Compliance Updates
BetDEX Announces New Licensing and Regulation in Ireland
BetDEX Labs Inc. (BetDEX) announced that the BetDEX Exchange has received a remote betting intermediary license in Ireland. The license, effective as of July 1, fully approves the BetDEX Exchange to offer all forms of online sports betting in Ireland and establishes a presence in the European Union as the Exchange continues to expand global operations. The BetDEX Exchange became the first fully licensed and regulated sports betting exchange built on blockchain technology when it received an online gambling license from the Isle of Man in October 2022.
Varun Sudhakar, CEO and Co-Founder of BetDEX, said: “As a UK-headquartered company with a local presence in Ireland, the BetDEX team is excited to enter a new but familiar territory of operation. Ireland has a rich history of being at the forefront of sports betting advancements, and while this license provides Irish citizens with the opportunity to bet using our platform, it also introduces the region to the power and benefits of blockchain and web3 technologies. We’re confident this will continue to advance the adoption of web3 betting platforms across the globe.”
With access to the BetDEX Exchange, bettors in Ireland can now experience the advantages in speed, cost and flexibility that BetDEX offers over legacy competitors. The BetDEX Exchange is 100% non-custodial, meaning BetDEX never controls or holds player funds. All wagers are held on transparent, audited and public smart contracts on the blockchain and upon settlement, the smart contract immediately remits funds to the winner’s wallet. Leveraging this technology, BetDEX can offer tighter spreads and fractional fees compared to existing bookmakers.
Licensing approval in Ireland also coincides with the introduction of in-play bets, fully available as of July 3 for cricket and tennis markets. A staple of the sports betting industry, estimates indicate that over 50% of global sports betting turnover takes place via in-play markets. As BetDEX continues to expand its product offering, bettors on the Exchange will also be able to bet on side markets, including game and set winners in tennis matches, as well as number of goals and goal scorers for the English and European football leagues.
“Ireland has long been a leader in innovation and adoption of new technologies. This licensing is a testament to the country’s commitment to staying on the cutting-edge and I am proud to be able to bring the BetDEX Exchange back to my native country. On behalf of the BetDEX team we are excited to provide a superior betting experience to the people of Ireland,” said BetDEX Labs Chairman and Co-Founder Nigel Eccles.
Compliance Updates
MGCB Executive Director Applauds Reappointment of Board Member Deidre A. Lambert-Bounds by Governor
The Michigan Gaming Control Board (MGCB) has announced the reappointment of Troy resident and Board member Deidre A. Lambert-Bounds by Gov. Gretchen Whitmer. This reappointment reaffirms the governor’s confidence in Lambert-Bounds’ dedication, integrity, and invaluable contribution to the agency’s mission of ensuring a fair and transparent gaming environment.
MGCB Executive Director Henry Williams expressed deep appreciation for the governor’s decision, noting that Lambert-Bounds’ continued leadership will greatly benefit the agency.
“Board member Lambert-Bounds has consistently demonstrated exceptional commitment and insight in regulating Michigan’s gaming industry, and we are thrilled to have her continue as a vital part of our Board. This reappointment is a testament to her unwavering dedication to upholding the highest standards of integrity and fairness,” said Williams.
Reappointed for a term expiring Dec. 31, 2028, Lambert-Bounds is the president and co-owner of Ignite Social Media LLC, and the chief operating officer and co-owner of its sister company, Carusele Media. She also serves on the executive boards of the Sphinx Organization, International Women’s Forum, and the Michigan Partnership for Equity and Opportunity.
The reappointment is Lambert-Bounds’ second four-year term of serving on the MGCB, representing Independents, for a term expiring Dec. 31, 2028. She previously served from July 22, 2021, through Dec. 31, 2024, and succeeded Barbara Smith, whose term expired Dec. 31, 2020.
The MGCB is responsible for implementing, administering, and enforcing the provisions of the law related to the licensure, regulation, and operations of the three authorized Detroit casinos — MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown. The agency also licenses and regulates fantasy contests, regulates pari-mutuel horse racing and casino-style charitable gaming (millionaire parties), and audits tribal gaming compact agreements for the state’s 12 federally recognized tribes.
The Board comprises five Michigan residents appointed by the Governor, with one member designated by the Governor as the chairperson. Under the Michigan Gaming Control & Revenue Act, no more than three members may belong to the same political party.
The post MGCB Executive Director Applauds Reappointment of Board Member Deidre A. Lambert-Bounds by Governor appeared first on Gaming and Gambling Industry in the Americas.
Compliance Updates
Dutch Gaming Authority Maps Risky Gambling Behaviour with Markers of Risk Research
The Dutch Gaming Authority (KSA) has used collected (pseudo-anonymised) player data to map indicators of risky gambling behaviour. With the results of the research, the supervisor can compare the various license holders with each other in other areas than just extreme losses.
Gambling problems and excessive gambling are often associated with the loss of large sums of money. Gambling large amounts of money can indeed be an indicator of risky gambling behaviour, but other indicators also play an important role in detecting problem gamblers, such as playing time or changes in gambling behaviour (for example, gambling more often or at unusual times).
Licensed gambling providers have a mandatory data vault (CDB) in which pseudonymised player and transaction data is stored. The KSA has analysed this data to map risky gaming behaviour, to look at (the usefulness of) applied interventions by providers and to compare the different providers with each other.
The study looked at various indicators of problem gambling: intensity (gambling many days, or losing a lot of money), loss of control (number of deposits per day), increase in gambling behaviour (gambling more often or for longer, spending more money), chosen game (for example sports betting versus slot machines) and interventions by the provider. The analyses were conducted based on one year of data from the CDB.
By comparing or linking different indicators, the KSA gained many new and interesting insights. For example, playing at night is generally seen as an important indicator of risky gambling behaviour. The data shows that players play casino games more often than sports bets at night. This could mean that casino games are riskier than sports bets. At the same time, it could mean that placing sports bets at night is a stronger indicator of risky behaviour: it occurs less often and deviates more from the norm.
The KSA is now looking at how this research and the findings from it can be used by the supervisor to gain more insight into possible problem players and how to tackle them. In addition, it is looking at how the insights obtained can be used in other ways to improve supervision.
The post Dutch Gaming Authority Maps Risky Gambling Behaviour with Markers of Risk Research appeared first on European Gaming Industry News.
BMM Testlabs
BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms
BMM Testlabs, the world’s original gaming test lab renowned for exceptional product compliance and testing services, today announced its official accreditation to test systems and games for the Brazilian state of Maranhão.
This new accreditation allows BMM Testlabs to test fixed-odds betting systems and lottery platforms for the Maranhão market. The Company is now authorized in every Brazilian jurisdiction that has regulated at state-level online fixed-odds betting.
The Maranhão accreditation, issued by Maranhão Parcerias SA (MAPA/LOTEMA), authorizes BMM Testlabs to work with lottery operators in the state to ensure compliance and quality standards for the gaming and lottery industry through end-to-end product compliance testing for Maranhão’s standards.
Additionally, Brazil’s Secretaria de Prêmios e Apostas has federally authorized BMM Testlabs to test betting systems, live gaming studios, and online games used by fixed-odds betting operators.
BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “We are excited and deeply honored that the State of Maranhão’s official lottery has entrusted BMM Testlabs with the responsibility of testing products for their new online fixed odds betting program, knowing that we’ll do so with the highest levels of impartiality, technical expertise, transparency, efficiency, and, most of all, integrity.”
With the Maranhão accreditation, BMM Testlabs solidifies its position as the leading independent test lab in Brazil. BMM Testlabs is accredited in all jurisdictions that have authorized fixed-odds betting for online gaming and sports betting.
BMM Testlabs brings 44 years of global leadership in product compliance across regulated markets and is trusted by games, systems, and lottery manufacturers, suppliers, developers, and regulators worldwide.
In addition to product compliance testing, BMM Testlabs provides end-to-end cybersecurity protection solutions. Through its sister company, RG24seven Virtual Training, BMM also offers compliance-grade virtual training on responsible gaming, anti-money laundering, and other important topics – presented by industry experts and available in English, Spanish, and Portuguese.
The post BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms appeared first on Gaming and Gambling Industry in the Americas.
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