Canada
GeoComply acquires leading licensing and compliance platform provider OneComply
GeoComply Solutions Inc. (“GeoComply”), the market-leading geolocation, fraud, and risk solutions provider, is pleased to announce the acquisition of OneComply Inc., a provider of comprehensive solutions that assist companies operating in regulated markets to manage their personal and corporate licensing obligations.
The complex and piecemeal nature of the gaming regulatory landscape, coupled with the sheer number of newly regulated markets, makes it essential for operators, suppliers, and other licensed participants to have a centralized licensing solution to help them streamline their compliance processes and reduce the risk of non-compliance. By using the OneComply platform, organizations can eliminate complexity and automate licensing compliance, saving them valuable time and resources.
GeoComply Co-Founder and CEO Anna Sainsbury said, “From our first interactions with OneComply, we have been excited about the opportunity to welcome them into the GeoComply family, and it gives me great pleasure to have completed that process.
Licensing organizations and key individuals is necessary but can be a painful process for any entity working in regulated industries such as gaming or fintech. As an existing OneComply customer, we know just how much OneComply eases that pain, not just for us but also for the regulators administering the process.”
With the addition of OneComply’s innovative technology and solutions, GeoComply will offer its customers in gaming, fintech, and other regulated industries a streamlined, secure, and easy-to-administer set of tools for the entire licensing process, from initial license applications to ongoing compliance management.
“Adding their licensing platform and expertise to our portfolio of solutions will materially and cost-effectively help our existing and new customers in the gaming and other regulated industries achieve and maintain a new gold standard in compliance and risk services. Together, we will have unparalleled capabilities to support the mission-critical compliance needs of the gaming industry, including AML, KYC, licensing, geolocation, sanctions compliance, and fraud prevention technology,” added Sainsbury.
OneComply Co-Founder and CEO Cameron Conn commented, “As fellow Vancouver-based entrepreneurs, GeoComply has always been an inspiration. Our Co-Founder Aaron [Gould] and I are super excited about continuing our journey as part of the broader GeoComply team. I am sure that together we will amplify and enhance our world-class compliance and licensing solutions for regulated industries around the globe.”
The terms of the transaction were not disclosed.
Canada
Greo and CCSA Release New Report Named “Gambling Availability and Advertising in Canada: A Call to Action”
Recent gambling policy changes in Canada have led to increased opportunities to legally bet on sports and gamble online, 24 hours a day, seven days a week. The report “Gambling Availability and Advertising in Canada: A Call to Action” looks at the impacts of legal gambling in Canada since the approval of the Safe and Regulated Sports Betting Act in 2021. The report recommends developing a pan-Canadian strategy to address gambling-related harms. This is a new report by Greo Evidence Insights (Greo) and the Canadian Centre on Substance Use and Addiction (CCSA).
This call to action is in response to the significant increase in gambling advertising on billboards, social media, at commercial breaks during sports broadcasts and during sporting events. Increased gambling availability and advertising are expected to contribute to increased gambling in Canada, thereby posing a significant risk of harms among the general population, particularly for youth, young adults and other vulnerable populations.
The report also describes how the increased availability of gambling and in gambling advertising are of great concern because:
- The types of gambling being made available and promoted (single-event sports betting and live or in-play betting) are associated with a greater risk of harm. For example, single-event sports betting increases gambling intensity and gives an illusion of control over the outcome as people believe their knowledge of the game gives them a competitive edge.
- The volume of gambling advertisements repeatedly pairing sports with betting normalizes gambling, leading people to think of betting as an integral part of being a sports fan.
- Increased availability of gambling and in gambling advertising are happening at a time when many people in Canada are more vulnerable to problematic gambling and gambling-related harms because of the lingering health impacts of COVID-19 and a rise in the cost of living.
“Over the last few years, we have witnessed some of the most significant changes in gambling policy since the 1970s. We have seen a massive increase in gambling advertising and opportunities to gamble. We can no longer watch sports with our kids or go online without being subjected to an overwhelming amount of gambling advertising. Canada is at a critical moment in how it manages gambling. A national strategy or framework — similar to what we have for alcohol, tobacco and cannabis — is critical to manage the expected increase in gambling harm, especially among youth and other vulnerable people,” explained Dr. Matthew Young, Chief Research Officer at Greo, Senior Research Associate at the CCSA and Adjunct Professor at Carleton University.
The report recommends developing a national strategy that will:
- Develop national standards governing the promotion and availability of gambling;
- Manage conflicts of interest among gambling stakeholders;
- Address inadequate funding for gambling harm prevention and reduction initiatives and research;
- Monitor systematic changes in gambling-related harm, including any assessments of the social and economic costs of gambling; and
- Increase awareness of gambling-related harms among health and social service professionals and the public.
“Increased gambling among people living in Canada will undoubtebly result in increased harms and therefore increased societal costs. These include healthcare costs, criminal-justice costs, child welfare costs, increased unemployment and lost productivity costs because of gambling-related suicide. We need to think about our approach and ensure that it considers not only short-term government revenue and economic activity but also the longer-term societal costs. That’s why we need a national strategy,” Dr. Pam Kent, Director of Research and Emerging Trends at CCSA, said.
Canada
Call for a National Strategy to Address Gambling-Related Harms in Wake of Sports Betting Boom
![call-for-a-national-strategy-to-address-gambling-related-harms-in-wake-of-sports-betting-boom](https://igamingradio.com/wp-content/uploads/2024/07/132821-call-for-a-national-strategy-to-address-gambling-related-harms-in-wake-of-sports-betting-boom.png)
Recent gambling policy changes in Canada have led to increased opportunities to legally bet on sports and gamble online, 24 hours a day, seven days a week. Released today, Gambling Availability and Advertising in Canada: A Call to Action looks at the impacts of legal gambling in Canada since the approval of the Safe and Regulated Sports Betting Act in 2021. The report recommends developing a pan-Canadian strategy to address gambling-related harms. This is a new report by Greo Evidence Insights (Greo) and the Canadian Centre on Substance Use and Addiction (CCSA).
This call to action is in response to the significant increase in gambling advertising on billboards, social media, at commercial breaks during sports broadcasts and during sporting events. Increased gambling availability and advertising are expected to contribute to increased gambling in Canada, thereby posing a significant risk of harms among the general population, particularly for youth, young adults and other vulnerable populations.
The report also describes how the increased availability of gambling and in gambling advertising are of great concern because:
- The types of gambling being made available and promoted (single-event sports betting and live or in-play betting) are associated with a greater risk of harm. For example, single-event sports betting increases gambling intensity and gives an illusion of control over the outcome as people believe their knowledge of the game gives them a competitive edge.
- The volume of gambling advertisements repeatedly pairing sports with betting normalizes gambling, leading people to think of betting as an integral part of being a sports fan.
- Increased availability of gambling and in gambling advertising are happening at a time when many people in Canada are more vulnerable to problematic gambling and gambling-related harms because of the lingering health impacts of COVID-19 and a rise in the cost of living.
“Over the last few years, we have witnessed some of the most significant changes in gambling policy since the 1970s,” explained Dr. Matthew Young, Chief Research Officer at Greo, Senior Research Associate at the CCSA and Adjunct Professor at Carleton University. “We have seen a massive increase in gambling advertising and opportunities to gamble. We can no longer watch sports with our kids or go online without being subjected to an overwhelming amount of gambling advertising. Canada is at a critical moment in how it manages gambling. A national strategy or framework — similar to what we have for alcohol, tobacco and cannabis — is critical to manage the expected increased in gambling harm, especially among youth and other vulnerable people.”
The report recommends developing a national strategy that will:
- Develop national standards governing the promotion and availability of gambling;
- Manage conflicts of interest among gambling stakeholders;
- Address inadequate funding for gambling harm prevention and reduction initiatives and research;
- Monitor systematic changes in gambling-related harm, including any assessments of the social and economic costs of gambling; and
- Increase awareness of gambling-related harms among health and social service professionals and the public.
“Increased gambling among people living in Canada will undoubtebly result in increased harms and therefore increased societal costs. These include healthcare costs, criminal-justice costs, child welfare costs, increased unemployment and lost productivity costs because of gambling-related suicide,” says Dr. Pam Kent, Director of Research and Emerging Trends at CCSA. “We need to think about our approach and ensure that it considers not only short-term government revenue and economic activity but also the longer-term societal costs. That’s why we need a national strategy.”
AGCO
Edict Egaming Secures Approval for Ontario Licence
![edict-egaming-secures-approval-for-ontario-licence](https://igamingradio.com/wp-content/uploads/2024/07/132773-edict-egaming-secures-approval-for-ontario-licence.jpg)
Edict egaming has received approval from the Alcohol and Gaming Commission of Ontario (AGCO) to provide its games for the online casino market in the Canadian province. This applies to both the German edict egaming GmbH and Edict Malta Limited. From now on, the Merkur Group subsidiary will be able to offer its popular Merkur slots in one of the largest North American markets.
“We are delighted to have received AGCO approval for our Merkur games in Ontario. This is definitely a big step for edict and we are very excited to showcase ourselves to new audiences on the global stage in this dynamic market,” Dominic-Daniel Liénard, CEO of edict egaming GmbH, said.
The AGCO is working with the Government of Ontario and iGaming Ontario (iGO) to establish a new online gaming market that helps protect consumers gambling through private gaming companies. This license certifies that edict operates within the framework of strict laws and meets the requirements for responsible gaming.
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