BEHIND THE CRO CURTAIN
Gambling Insider shines a spotlight on the Chief Revenue Officer, evaluating the role of the CRO and its importance in today’s gaming sector
LATAM FOCUS: We welcome new contributors from gambling’s fastest-growing region
REVIEW:
Gambling Insider reports back from tribal gaming’s biggest show
We bring you our regular features – Roundtable, Insiders & more
EDITOR’S LETTER
RJulian Perry, COO, Editor-in-Chief
COO, EDITOR IN CHIEF
Julian Perry
EDITOR
Tim Poole
Tim.Poole@gamblinginsider.com
SENIOR STAFF WRITER
Beth Turner
STAFF WRITERS
Will Underwood, Kirk Geller
CONTENT WRITER
Megan Elswyth
LEAD DESIGNER
Claudia Astorino
DESIGNERS
Olesya Adamska, Callum Flett, Gabriela Baleva
Tim Poole, Editor
evenue can mean everything to a business. Despite there being so many other metrics to measure financial performance, the one that headlines so many quarterly reports is revenue. And, in the case of brands like FanDuel and DraftKings, investors seem to value revenue – and revenue growth – far more than profitability (still, several years in...).
Revenue, after all, demonstrates the market's appetite for your product. Indeed, it is such a powerful metric, even for a firm losing money, that in today's sector, most sizeable organisations have a Chief Revenue Officer (CRO). When I joined Gambling Insider , the industry had very few CROs. Fast forward to 2025 and a wide range of gambling's biggest players have a CRO that is front and centre of their brand.
It is not just in gambling, either. This is a trend that has grown year-on-year (the magic phrase CROs themselves will love to hear). Some suggest it is just another title for traditional roles like Chief Sales Officer or Head of Sales. But, for a number of reasons, we can't escape the fact that CROs today are a hot commodity.
JUNIOR DESIGNER
Medina Mammadkhanova
ILLUSTRATOR
Judith Chan
MARKETING & EVENTS MANAGER
Mariya Savova
FINANCE & ADMINISTRATION ASSISTANT
Dhruvika Patel
PUBLISHING ASSISTANT
Abi Ockenden
IT MANAGER
Tom Powling
COMMERCIAL DIRECTOR
Deepak Malkani
Deepak.Malkani@gamblinginsider.com
Tel: +44 (0)20 7729 6279
We look into those reasons in the cover feature of this magazine, speaking to several high-profile CROs for their musings on what defines the role, and how their day-to-day duties impact the company. Elsewhere in this issue, we give the 'CRO' title a 360-degree focus, as regular contributor Paul Sculpher looks into the role of the Chief Risk Officer. He is joined by another regular contributor Gustaf Hoffstedt, who once again updates us on the latest developments in Sweden, while we also have several new LatAm-focused contributors we are excited to unveil this issue.
Fresh off our attendance of the Indian Gaming Tradeshow & Convention in San Diego, Gambling Insider also brings you content from interviews with leading tribal gaming figures from California and Oklahoma. In the US, intriguingly, both tribal and commercial entities are feeling under threat from new rivals such as sweepstakes casinos, daily fantasy sports operators, crypto casinos and, most of all right now, predictions markets. While these companies will argue they are only using disruptive innovation to generate revenue (the key word again), tribes and other licensees within regulated markets believe legal loopholes have been exploited to gain an unfair – and unlawful – advantage.
Beyond our IGA content, more of which you can also find in our sister Gaming America magazine, we finish up our edition with staple features including our Roundtable, Insiders columns and Product Reviews. This means there is no shortage of content this issue and, whether you are reading online, at a trade show or in your head office, we thank you as always for your readership!
TP, Editor
ACCOUNT DIRECTOR
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SENIOR ACCOUNT MANAGER
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ACCOUNT MANAGERS
Irina Litvinova
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BUSINESS DEVELOPMENT MANAGER - U.S. Casey Halloran
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CREDIT MANAGER
Rachel Voit
WITH THANKS TO:
Fernando Garita, Alfredo Lazcano, Andrea Avedillo Builla, Fabio F. Kujawski, Isabela Fernandes Pereira, Jaime Rivera, Maria Boelius, Matt Prevost, Iain Hutchison, Gustaf Ho stedt, Gareth Crook, Paul Sculpher, Andrea Lazenby, Josie Preston, David Mills, Michael Barsin, Mark Courtney, Matthew Morgan, Robert Jacobson, James Siva, Eric Wang, Igor Kaufman, Mike Forslund, David Watkins, John Connelly, Haroon Chowdry, Shmulik Segal, Vsevolod Lapin, Nadiya Attard and Andrea McGeachin.
ANDREA AVEDILLO BUILLA
LATAM FOCUS
20
Betsul CEO Fernando Garita assesses whether we can expect to see a regulated Costa Rican online gaming market in response to developments across LatAm
Lazcano Sámano’s Alfredo Lazcano and Andrea Avedillo assess what Mexico could learn from Brazil
Mattos Filho partners Fabio F. Kujawski and Isabela Fernandes Pereira look at the challenges facing operators in Brazil
Former Puerto Rico Gaming Commission
Executive Director Jaime Rivera discusses the potential of Brazil’s slot game market
36 Behind the CRO curtain
With insights from Rootz, BetMGM and Digitain, Gambling Insider investigates this emerging C-Level position
44 What’s at Stake?
Gambling Insider’s Megan Elswyth looks into Stake’s recent US lawsuits, and other sweepstakes and prediction market cases emerging in North America
46 The monopoly problem
Returning contributor Gustaf Hoffstedt looks at the challenges of the EU’s gambling monopoly regulation
ONTENTS
48 Staying fast and reliable
Pragmatic Play SVP of Sports Gareth Crook discusses sports data sources, upcoming regulatory changes and more 50 Risk assessment
Regular contributor Paul Sculpher spoke with consultants from across the industry to get their take on the role of CRO
52 A continent to consider Novomatic Sales Asia-Pacific, Michael Barsin, assesses the potential of various emerging and existing Asian markets
54 An inside job
Mark Courtney investigates how to spot and adapt security against internal company fraud and financial crime
56 GI at IGA
Gambling Insider travelled across the Atlantic to speak with some of the biggest names in tribal gaming
Roundtable
Industry experts weigh in on the benefits, compliance navigation and more of sports aggregators
INSIDERS
John Connelly Interblock
Haroon Chowdry
PRODUCT REVIEWS
76 What's new?
Gambling Insider delves into the latest products on offer
FINAL WORD
82 Andrea McGeachin Neosurf
FACING FACTS: FY REVENUE
Who soared high and who fell behind in 2024? Gambling Insider checks out FY24 revenue from the industry’s biggest names, in keeping with our CRO main theme
Source: DraftKings, FanDuel
*All FanDuel numbers from 2021 and prior converted from GBP at rate accurate as of 06.03.2025. All revenues represent US only
Source: Entain
While most of Entain’s territories of operation have seen slight increases in online NGR year-on-year, one in particular stands out. This, unsurprisingly, is Brazil. In 2023, NGR was down 14%, while in 2024, it was up 41%. Of course, with last year seeing the development of a regulated framework for online gaming in the nation, which was put into action on 1 January 2025, this makes sense — and, given effects across the market by operators to make the most of this new regulated territory, it is likely that this growth will continue.
Only the Netherlands on a proforma basis saw an increase to its NGR decline, from –12% in 2023 to –13% in 2024. While a minimal difference, continued decline suggests a territory that is presenting continuous challenges, and a challenge that Entain has yet to overcome.
Asia land-based FY24 revenue by operator ($m)
Source: bet365
Between the 2020 – 2022 financial period, bet365’s turnover changed very little, from £2.81bn ($3.6bn) in 2020 to £2.87bn in 2022. However, FY23 saw turnover jump significantly, up 18.8% to £3.41bn. Turnover jumped 9% the following year, coming to £3.72bn.
In 2023, bet365 reported both an operating loss and loss for the financial period, at £37.3m and £69.4m respectively. This was put down to the costs of entering new markets, IT development and increased staff costs. However, with operating profit and profit for the period surpassing 2021’s results in 2024, it seems the increased costs yielded the desired results.
Source: Company sites
*All Galaxy Entertainment numbers converted from HKD at rate accurate as of 10.03.2025
Unsurprisingly, Las Vegas Sands outperformed its competitors by a significant margin, though it is important to note that on top of its Macau properties, including The Venetian Macao and Londoner Macao, it is also the operator of Marina Bay Sands, a property that made $4.23bn in FY24 alone –roughly $400m less than the entirety of Melco’s 2024 operations.
Despite the difference, growth across the three operators' revenue year-on-year remains relatively similar. For example, FY24 revenue was up 8.9% for Sands, 21.7% for Galaxy Entertainment and 22.9% for Melco. The two smaller operators grew at a similar pace, while Sands followed slightly behind; a common trend among the largest operators.
Melco
Source: Melco
Comparing Melco to Las Vegas Sands, unsurprisingly, both generated the largest portion of their revenue from casino games. However, especially before Covid-19, it was clear this was even more so the case for Melco, with casino revenue accounting for 86.8% of the total.
Source: Las Vegas Sands
The Macau Government has created post-Covid initiatives to diversify revenue streams in the area, with many hotel casinos placing emphasis on non-gaming options. However, this growth has been somewhat limited. Melco’s other revenue sources, including retail and entertainment, were only up $6m between 2023 and 2024, though food and beverage saw a notable increase in earnings, up 36.8% to $286m. This is reflected in several accolades received by the operator, with Melco receiving eight stars in Michelin’s 2024 Hong Kong & Macau guide.
Source:
*All Gambling.com numbers converted from USD at rate accurate as of 10.03.2025
The affiliate market has experienced a mixed bag over the past few years. Post-Covid, Better Collective has carved a path to being one of the sector’s biggest affiliates in terms of revenue, making €371.5m ($402.7m) in FY24 – more than Catena, Gentoo and Gambling.com combined.
Catena Media has faced challenges since 2022, in part due to declines in its US segment, which accounts for the majority of its revenue. Indeed, even Better Collective has noted challenging US conditions. Yet, despite reporting its results in dollars as opposed to Euro’s, Gambling.com, which was reporting a quarter of the revenue made by Catena in 2020, has surpassed Catena Media two years running.
TAKING STOCK
Gambling Insider tracks online casino operator and supplier prices. Stock prices are taken across a six-month period (November 2024 to April 2025) – and from the close of the first available date of the month
SUPPLIERS
• Six-month high – November (1,000 SEK)
• Six-month low – April (739.4 SEK)
• Market capitalisation – US$17.51bn (as of 9 April 2025)
• Six-month high – April (21.73 USD)
• Six-month low – November (12.48 USD)
Market capitalisation – US$6.2bn (as of 9 April 2025) • Six-month
• Six-month high – February (739 GBp) • Six-month low – April (700 GBp)
Market capitalisation – US$2.65bn (as of 9 April 2025)
• Six-month high – December (278 USD) • Six-month low – April (222.82 USD)
Market capitalisation – US$29.7bn (as of 9 April 2025)
• Six-month high – March (163.60 SEK)
• Six-month low – December (141.86 SEK) • Market capitalisation – US$1.8bn (as of 9 April 2025)
• Six-month high – December (805 GBp)
Six-month low – April (574 GBp)
– US$4.1bn (as of 9 April 2025)
It’s that time of year once again, as the Global Gaming Awards Asia-Paci c returns to Manila to celebrate the best achievements of the last 12 months in the region’s gaming industry. The Americas Awards, meanwhile, await in October...
As summer approaches, so does the return of the Global Gaming Awards – with the Asia-Pacific 2025 ceremony in Manila and the Americas ceremony in Las Vegas now fast approaching. In the wake of a successful first ever in-person Awards meeting last June, the industry’s most prestigious Awards gear up for a fourth outing in the Asia-Pacific region – as all roads lead to Manila for the luncheon ceremony on day two of SiGMA Asia on 3 June 2025. Elsewhere, the Global Gaming Awards’ flagship event returns to the Venetian Las Vegas for its 12th edition in October – with self-nominations for the Americas ceremony already open.
event returns to the Venetian Las Vegas for its
make up the expert Judging Panel. Judges are required to choose a winner and runner-up from each of the 10 categories and, of course, they will be strictly excluded from voting in any categories within which they hold a conflict of interest. Finally, the full voting process is then independently adjudicated by KPMG in the Crown Dependencies.
Indeed, although the industry’s most esteemed Awards first arrived in the Asian region in 2022, the Global Gaming Awards’ history spans back over 10 years to the first ever ceremony in 2014. Since that time, the Awards have taken on multiple forms in Las Vegas, London and Barcelona – circling the globe to celebrate the best and brightest from all four corners of our vibrant industry.
Awards ceremonies attract the most reputable high-level senior executives for unbeatable
celebration of the industry’s finest innovations behind
be no different. Held on the second day of Convention Center in the Philippine capital,
As the voting process takes place, the full shortlist of nominees will be revealed to the public on 5 May 2025. KPMG Partner, Micky Swindale commented on the organisation’s continued involvement with the awards, saying: “We review the Global Gaming Awards’ system and tools for collecting votes, check that judges weren’t allowed to vote in categories where they have a conflict and confirm that the winner and runner-up in each category has been determined correctly based on votes cast. Finally, we select a random sample of judges whom we contact to verify that the voting system has accurately recorded their votes.
Three times a year, the Global Gaming Awards ceremonies attract the most reputable high-level senior executives for unbeatable networking opportunities and an unmissable celebration of the industry’s finest innovations – and the innovators behind them. 2025’s Asia-Pacific and Americas ceremonies will be no different. Held on the second day of the SiGMA Manila conference at the SMX Convention Center in the Philippine capital, the build-up to this year’s luncheon ceremony has already begun, with the self-nomination window now officially closed as of 7 March.
window now officially closed as of 7 March. of nominees took place on 11 April 2025,
As such, the finalisation of the full Shortlist of nominees took place on 11 April 2025, with all nominated parties receiving official notification of their successful shortlisting towards the end of the month. Then, from 21 April, the official voting process commences. As the Global Gaming Awards is powered by Gambling Insider, the publication helps to compile a stellar list of industry experts that
“KPMG’s commitment to and involvement with the gaming sector is unparalleled and that is why we have so welcomed the opportunity to support the Global Gaming Awards events for the EMEA, Americas and as of 2022Asia-Pacific. The combination of a thorough shortlisting process, a highly distinguished panel of judges, and the organisers’ commitment to independent verification of the judges’ decisions, means that any company or individual that makes it to the final shortlist should be extremely proud.”
Indeed, the 10 total categories of the Awards are broken down into various sections, with land-based awards being separated into categories including; Casino Operator,
Casino Product, Casino Supplier, Table Game Product and Inegrated Resort of the Year. Among last year’s winners for these Awards, Casino Operator was taken home by Galaxy Entertainment & Bloomberry Resorts as part of a joint honours and Casino Supplier went to Aristocrat – who also scooped the Award for Casino Product for Dragon Link. Integrated Resort of the Year was taken home by Marina Bay Sands, with IDX Games’ X Stadium winning Table Game Product of the Year. Elsewhere, Corporate Social Responsibility of the Year was won by Wynn Resorts and Executive of the Year was won by PAGCOR Chairman & CEO Alejandro H. Tengco. For online, Digital Sports Betting Supplier of the Year was won by BetConstruct, Digital Sports Betting Operator by 1xBet, Digital Casino Supplier was won by Pragmatic Play and Digital Casino Operator by Bet88.
Of course, that was then – and this is now. The Asian gaming landscape, indeed, looks a very different shape than it did 12 months ago. The implementation of the UAE lottery, alongside the development of the nation’s first integrated casino resorts have marked huge steps forward for gambling in the Western Asian region. In Southeast Asia, the Philippines spent the backend of 2024 weathering the POGO storm, which it has now, seemingly, managed to navigate its way out of. Elsewhere, legislation in Thailand has come on leaps and bounds, with the nation going full steam ahead with its own plans for integrated resort casinos, while Macau continues on its path towards enhanced diversification at
“ These are the most prestigious awards in the gaming industry, and we ensure we maintain this reputation year after year ”
- Mariya Savova
This overview of key stories, while brief, highlights the vibrant and fast-evolving nature of gambling in the Asia-Pacific region – one that will be subject to the ultimate celebration at the Global Gaming Awards Ceremony in Manila this June.
process. On 8 September, the full Shortlist of nominees will be unveiled to the public, before the final countdown to the main event begins. It has been another monumental year for gaming across the Americas – and one that has been dominated largely by a single buzzword. Of course, Brazil has been the belle of the proverbial ball during the last 12 months, with the regulation of the gargantuan market set to re-shape the complexion of the gambling industry across the Americas and, indeed, across the globe, for ever.
months ago. The implementation of the UAE nation’s first integrated casino resorts have has now, seemingly, managed to navigate its the top of the tree.
has solidified plans to fully regulate its gambling market, which is one that will
In the Pacific region, New Zealand has solidified plans to fully regulate gambling market, which is one that will contain no space for greyhound racing enthusiasts, following the recent outlawing of the sport in the nation. In Australia, enhanced regulation around problem gambling and advertising continues the pursuit for a healthier environment amid increasing AUSTRAC governance.
gambling and advertising continues the increasing AUSTRAC governance.
Running parallel to the build-up of the Asia-Pacific Awards is the nomination process for the Global Gaming Awards Americas ceremony – set to be held on the other side of the summer at the Venetian Resort Las Vegas on 6 October 2025. Self-nominations for the Americas ceremony officially opened on 3 March and are set to close on 8 May. As with the Asia-Pacific Awards, these nominations will then be evaluated by a panel of over 100 C-Level industry executives before a finalised shortlist will be finalised on 8 August. Then, voting commences on 1 September, prior to the passing of the awards through the KPMG adjudication
the Americas ceremony officially opened on the Asia-Pacific Awards, these nominations will
will be finalised on 8 August. Then, voting commences on 1 September, prior to the passing of the awards through the KPMG adjudication
Elsewhere, sweepstakes have swept across the US market, causing contention and excitement in equal measure – as online gaming (but mainly mobile sports betting) continues to rise in prominence in the North American
record-breaking monthly sports wagering handles coming out of New York State – with provincial iGaming regulation in Alberta set to
Elsewhere, sweepstakes have swept across the US market, causing contention and excitement in equal measure – as online gaming (but mainly mobile sports betting) continues to rise in prominence in the North American and LatAm markets. 2025 has, so far, seen record-breaking monthly sports wagering handles coming out of New York State – with provincial iGaming regulation in Alberta set to shake up the Canadian market in 2026.
Much to discuss and celebrate already, then, six months ahead of this year’s Global Gaming Awards Americas in Las Vegas. Commenting on this year’s upcoming ceremony, Event Manager “The Global Gaming Awards were launched to recognise and reward the dedication, hard work and continuous innovation made by our industry. These are the most prestigious awards in the gaming industry and we ensure we maintain this reputation year after year. These are the only Awards that give a reason why each company and individual is nominated and we release all those reasons in the public domain.”
then, six months ahead of this year’s Global Vegas. Commenting on this year’s Mariya Savova stated: Gaming Awards were launched to recognise and reward the dedication, hard work and continuous innovation made by our industry. These are the most and we ensure we maintain this reputation year after year. These are the only Awards that give a reason why each company and individual is nominated and we release all those reasons in the public domain.”
REGULATION IS THE PATH FORWARD
Gambling Insider Senior Sta Writer Beth Turner spoke with Betsul CEO Fernando Garita on the gaming market in Costa Rica, and how it may be a ected by developing LatAm regulation
Could you give me a brief overview of what gambling regulation looks like in Costa Rica at the moment?
PHYSICAL GAMBLING
Let’s start with a look at the current framework
for physical gambling in Costa Rica. Activities like casinos are regulated under Law No. 9050 –Ley sobre el Impuesto a Casinos y Empresas de Enlace de Llamadas a Apuestas Electrónicas. This law was introduced to regulate longstanding gambling activities in the country.
It assigns the responsibility of licensing, overseeing and supervising operations to the Ministry of Public Security – for both casinos and companies offering related services. Physical casinos are authorised to operate as complementary services to the national hotel industry. They are also required to comply with tax obligations established by law. This legislation has been in force since its publication in the Official Gazette, issued by the Office of the Presidency of the Republic on 27 July 2015.
ONLINE GAMBLING
Although Costa Rica does not have a formal regulatory framework for online gambling, companies can obtain a Data Processing License – which is not a regulatory gambling licence per se. These licences are granted at the municipal level and permit companies to operate as long as their services target users outside Costa Rica. They do not explicitly authorise online sports betting or casino activities aimed at Costa Rican residents. This legal and tax framework has enabled many international companies to establish operations in Costa Rica, generating significant employment in the process.
So there are no laws and regulations for online gaming in Costa Rica and online gaming activities cannot be specifically licensed. But what has held Costa Rica back from regulating online gaming?
As I summarised earlier, there is currently no formal legal framework in Costa Rica that allows companies to operate online gambling or sports betting targeted at Costa Rican
Fernando Garita
citizens, outside of physical casinos and the national lottery.
The Junta de Protección Social (JPS) –www.jps.go.cr – is the only entity that could, under Law No. 8718, regulate or authorise operators to provide online gaming services to locals or residents. However, doing so would require the creation and implementation of formal regulations and a national bidding process after enabling Regulation 100.
While an unregulated gaming market will always present problems in terms of player protection, are there any factors that are unique to Costa Rica?
Not particularly. Like in any unregulated environment, users face significant risks. Without government oversight or legal guarantees, players are vulnerable – whether they play on reputable international platforms or shady websites. The most common issues include funds being withheld, disputes over payouts or the misuse of personal data.
In such cases, Costa Rica’s consumer protection laws – Law 7472 (Consumer Protection) and Law 8968 (Personal Data Protection) – cannot intervene, as these platforms fall outside national jurisdiction. That’s why I always recommend players carefully verify the legitimacy of the site before engaging. Gambling should be a form of entertainment, and a poor experience can be avoided by taking proper precautions.
Brazil has recently regulated online gaming. Do you think this may encourage change in Costa Rica?
Yes – and I believe it should. I’ve personally been involved in the Brazilian regulatory process since 2017. It’s been a long journey but, by 2024 the process began, and by 2025 the first companies are expected to be fully authorised.
This has meant restructuring operations to meet compliance standards – something
“ Without government oversight or legal guarantees, players are vulnerable – whether they play on reputable international platforms or shady websites”
normal in regulated markets, as it is crucial for user protection and legitimacy.
Some areas still need refining in Brazil, such as site blocking and payment processor oversight, but progress is being made through collaboration between operators and the regulator. I currently serve as CEO of Betsul.bet.br, a regulated brand in Brazil, and I can say the outlook is positive. Costa Rica, while much smaller, would benefit significantly from regulation, both in tax revenue and job creation. I know that the JPS has been working toward regulation, especially since the market is currently filled with grey-area operators. That said, any meaningful change will require political will and structural support, not just the efforts of the JPS.
Gaming isn’t usually a political priority but, from my perspective, regulation is the path forward – for the benefit of the country, companies and the many Costa Ricans already working in this sector.
More broadly, several nations in Latin America are in the process of regulating their online gaming markets. What do you think has fuelled this change?
Multiple positive factors are driving the change:
• Tax benefits for the state
• Stronger player protection
• Formal job creation, both direct and indirect.
• Technological development – especially in countries like Costa Rica, which is a regional tech hub.
Many people underestimate what goes into running an online gaming operation. It’s not just launching a website – it involves legal, financial, technological, marketing and compliance areas. Regulation allows countries to capture the full economic value of this complex industry.
What do you expect Costa Rica’s gaming market to look like in the next five years? If everything moves in a positive direction, change is both possible and necessary. We’ve already seen how some companies operating from Costa Rica have shut down or moved as other countries like the US began regulating. A new regulatory framework would encourage foreign investment and support the large community of Costa Ricans already working in gaming – from software engineers, lawyers and marketers to AI specialists and accountants. If regulation does not move forward, Costa Rica will likely see more operations of questionable legality, which will ultimately harm local consumers. That’s why I believe the Government should at least initiate a regulation process, even if it’s selective. Costa Rica is a small market, and a responsible approach should limit the number of licensed operators to reflect that. As I often say at industry conferences: A regulation must be balanced. We can’t compare ourselves to the US in terms of capacity – but we can still aim for a well-regulated, responsible and sustainable market.
San Jose Costa Rica at night
BETTING ON INFLUENCE
Alfredo Lazcano and Andrea Avedillo Builla, Chair and Head of Legal at Mexican gaming law rm Lazcano Sámano, analyse what Mexico could learn from the boom in Brazil’s gaming market
Gambling has long been a complex and evolving industry around the world – and Latin America is no exception. While some countries in this region have embraced regulated gambling markets, others have maintained strict prohibitions, leading to a patchwork of legal frameworks. However, over the past few years, there has been a clear tendency towards regulation rather than setting forth
prohibitions. A clear example of this is Brazil. After the enactment of Law No. 13,756/2018 and Law No. 14,790/2023, this country has become the most expected and influential market, at least in the Americas, that in 2024 reached a population of 663 million.
There are many reasons why operators and industry members are currently so focused on Brazil (which we will refer to in the
following lines). However, our main objective with this article is to outline the impact that having such high expectations on a particular market could have on different territories among the Latin American jurisdictions, specifically Mexico.
On a final note, please be advised that because we are solely licensed lawyers within the Mexican jurisdiction, we are writing this article as specialists with many years of experience in the gaming industry at a global level, and with the deepest respect for a country as important and full of good things – and amazing people – as Brazil.
BACKGROUND OF THE GAMBLING LEGAL FRAMEWORK IN BRAZIL
In the almost two decades we have been in our sector, we have witnessed firsthand how some industry observers think Brazil’s gambling legalisation process has not been the most stable or predictable. To corroborate this, it is worth briefly referencing some important precedents for this jurisdiction, which we will discuss briefly below.
At the beginning of the 20th century, gambling was largely unregulated, with casinos and betting houses operating openly and the Government taking opposite stands regarding gambling. However, in 1946, President Eurico Gaspar Dutra imposed a nationwide ban that forced the closure of all casinos and restricted other forms of gambling, pushing much of the activity underground or into illegal operations, as commonly happens whenever prohibition comes before regulation.
Regardless of the ban, illegal gambling
Alfredo Lazcano
persisted, mostly in the form of ‘jogo do bicho’ (animal lottery), an underground lottery game and other informal betting schemes. The Government attempted to manage certain forms of gambling through state-run lotteries, but comprehensive regulation remained absent for decades.
Over the years, Brazil also developed a very peculiar segment: Gaming parlors known as ‘bingos’. Bingos grew exponentially, if not uncontrollably, and became an impressive business by the end of the 20th century in Brazil. It is estimated that bingos employed more than 300,000 people. However, it appears this activity was being carried out in an unclear way because, in 2004, then-President Luiz Inacio Lula da Silva (who now is holding office for the third time) ordered the closure of bingo halls nationwide, after corruption allegations concerning people very close to the Government at the time.
Although certain activities were allowed, such as the federal lottery and horseracing, the first major shift toward legalisation occurred with the passage of Law No. 13,756/2018, which authorised fixed-odds sports betting. This law marked a turning point by allowing both online and land-based sports betting under Government oversight. More recently, with Law No. 14,790/2023, Brazil implemented additional regulations, establishing a licensing regime and setting tax rates for operators and winnings.
Of course, the above summary is not exhaustive and perhaps we are missing some legal technical detail (as we said before, we
are authorised to practice law in Mexico, not in Brazil), but using strict logic and common sense we can realise that after just a few years, it would be difficult to forecast – much less take for granted – whether the nascent Brazilian (legal) gaming industry will be sustainable in the long term.
WHY IS BRAZIL SUCH A PROMISING MARKET?
Let us start with the obvious: Brazil is the largest country in Latin America. As of 1 July 2024, it held a population of 212,583,750, according to the Brazilian Institute of Geography and Statistics.
Moreover, as their history has shown with certain gambling activities, Brazilian people have revealed a natural enjoyment for many types of games and sports, particularly bingo and soccer. This inborn love of the game translates into large engagement and high spending.
As manifested in a piece published by the New York Times: “The Brazilian Government estimates that nearly a quarter of the population has started gambling online in the last five years. Currently, Brazilians spend about $3.5bn a month on online gambling and sports betting represents a huge segment in soccer-mad Brazil, according to figures from the country’s central bank.”
INFLUENCE ON MEXICO
In our opinion, it is crucial to understand that, even though we share a lot of characteristics, Latin America and the Caribbean is a region made up of more than 40 different countries
and territories, with diverse origins, history and social, political and economic realities.
For instance, even though gambling in both Mexico and Brazil faced general prohibitions around the same time (1946-1947), since the past century to date, Mexico has maintained a very permissive gambling environment, with casinos, sports betting and online gambling already regulated under the Federal Law on Games and Drawings, as well as its Regulations enacted in 2004.
So, seeing things in perspective, two decades ago (coincidentally in the same year, 2004) gambling was being shut down in Brazil, while in Mexico the gaming industry was preparing to maximise its growth, which has remained fairly stable until today.
Nevertheless, we must recognise that, currently, the Mexican regulatory framework is far from ideal because it remains fragmented, short and outdated, leading to inconsistencies and enforcement challenges, while Brazil now seems to have made a 360-degree turn. Indeed, with its structured licensing model and tax regime, we hope this might inspire Mexican regulators to consider updates to our legal framework – particularly in connection with responsible gaming policies and illegal gambling enforcement.
The emergence of Brazil as a major regulated market should encourage greater cooperation among Latin American regulators and lawmakers with discussions aimed at harmonising gaming standards, promoting best practices and enhancing compliance measures across the region. Without question, the expectation around Brazil has drawn attention to the region and has brought the usual economic, political and social concerns on the table for further discussion, which is always a positive thing.
CONCLUSIONS
From our view, Brazil’s brand new betting legalisation represents a turning point for the Latin American markets, as this country joins to the general tendency to uplift gambling prohibitions. The shift from prohibition to regulation has unlocked significant economic benefits while presenting new challenges of all sorts. Brazil’s structured licensing model, robust compliance measures and taxation framework have provided a blueprint for other Latin American jurisdictions seeking to regulate and expand their gambling industries.
Mexico could benefit from adopting similar reforms to enhance responsible gaming policies and illegal gambling enforcement. As Brazil’s market matures, its influence on regional policies is expected to grow, positioning all Latin American countries as dynamic and competitive players in the global gambling industry.
Andrea Avedillo Builla
RISING TO THE CHALLENGE
Mattos Filho partners Fabio F. Kujawski and Isabela Fernandes Pereira unpick the key challenges for operators within the fast-developing Brazilian gaming sector
The Brazilian fixed-odds betting market in Brazil is booming. As of late 2024, the Ministry of Finance’s Prizes and Betting Secretariat (SPA) has granted nearly 70 authorisations for the operation of fixed -odds sports betting and/or online gaming. Over 100 companies are still undergoing the license application process, meaning there may be nearly 300 licensed companies entering Brazil over the course of 2025.
As each license operator is entitled to explore up to three brands, if all current applications are successful, Brazil will have 900 brands competing for a multibilliondollar market. With all licensed operators providing services onshore, a new myriad of challenges is being faced by them, many of which had been serving the Brazilian market from abroad. The regulatory holiday is officially over.
Authorised operators now have a series of accountability obligations, especially related to reporting betting activities to the SPA and notifying the relevant authorities about suspected money laundering activities. Strict onboarding and “Know Your Customer” (KYC) requirements have also been implemented, including the obligation to collect biometric data for facial recognition purposes. During onboarding, operators must create firewalls to prevent that individuals unfit to bet (legally or voluntarily) from accessing the platform. Cross-referencing user data has proven challenging due to the lack of an
Fabio F. Kujawski
official database of individuals that are prohibited to place a bet.
In the SPA-proposed regulatory agenda, which is still under debate, it is mentioned that the creation of such database as a top priority for this year. The SPA has been active from the outset of this new era, and has already started its monitoring and supervision of virtually all licensed operators by sending notices to collect and verify information about their practices, internal governance and contacts responsible for key areas of the business.
Given the value of the authorisation (BRL 30 million or approximately $5m), high tax burden and the regulatory oversight imposed on the sector, many websites have opted to remain illegal. In response, the SPA has intensified its monitoring and blocking of illegal betting websites. Between October 2024 and March 2025, the SPA blocked 12,500 domains of illegal betting sites in Brazil. To expedite this process, the SPA has entered into a cooperation agreement with
“ While the potential of the iGaming market in Brazil is undisputed, possibly positioning it as one of the top three markets in the world, there are numerous challenges ”
the National Telecommunications Agency (Anatel), which is responsible for blocking these sites.
Additionally, the SPA has begun notifying financial institutions or payment providers suspected of facilitating transactions for unauthorised websites, which is likely to make the illegal market even more difficult to operate in.
From a public opinion perspective, the fixed-odds betting sector has been spotlighted for allegedly contributing to gambling addiction and the over-indebtedness of less-privileged segments of Brazilian
society. Currently, three lawsuits are pending before the Supreme Court, filed by various associations and authorities, challenging the constitutionality of the Betting Act. These lawsuits primarily argue that the regulation fails to adequately protect the fundamental rights of bettors. We do not believe these lawsuits will significantly succeed, although additional rulings on advertising and other responsible gaming-related actions may be forthcoming.
Mergers and acquisitions are expected to become more common in the coming years. Given the number of operators, which may still increase, there is an expectation that the market will undergo a consolidation of brands and companies into larger groups. In this regard, the regulation establishes that the gaming licence may be reviewed whenever there is a merger, split, acquisition, conversion or transfer of control, either direct or indirect, within the authorised entity.
While pre-approval of M&A transactions by the SPA is not mandatory, operators must submit all necessary documentation to the SPA within 30 days of the corporate change to prove that the operator continues to comply with the rules and regulatory conditions. It will be crucial to demonstrate the technical qualifications of the new controllers and the integrity of the new officers and partners. In any event, the SPA may review an M&A transaction prior to closing. It is up to the parties to seek prior or post-closing approval depending on the risk appetite.
Licensed operators are now starting to face consumer protection scrutiny not only by the SPA but also from other consumer protection authorities in Brazil. Recently, Procon/SP, a State of Sao Paulo consumer protection agency, issued a fine against a licensed operator for $250,000 for some alleged violation of the Consumer Protection Code. And this only beginning.
At the Congress level, there are certain bills that aim at restricting or prohibiting advertising of operators in Brazil. So, overall, while the potential of the iGaming market in Brazil is undisputed, possibly positioning it as one of the top three markets in the world, there are numerous challenges the Brazilian sector will face in the future.
Isabela Fernandes Pereira
BREAKING THE MOULD
Former Puerto Rico Gaming Commission Executive Director, Jaime Rivera, discusses why the nation’s slot machine market presents an opportunity for suppliers, manufacturers and vendors
In recent years, Latin America’s gaming industry – particularly the iGaming sector – has experienced significant growth, predominantly in South America, with countries such as Brazil and Peru leading the way. The Caribbean region has also seen a certain increase in gaming activity. Among US territories in the Caribbean, Puerto Rico – alongside the US Virgin Islands – has emerged as one of the jurisdictions with recent developments in its gaming industry.
The sports wagering vertical, in both landbased and online formats, has been operating in Puerto Rico since 2022 for land-based betting and 2023 for online. Additionally, esports and fantasy contests are fully regulated, although these activities have yet to launch. However, one of the most promising emerging verticals with significant business potential for vendors and suppliers is the route machine, or slot machine in the route market.
VERTICAL HISTORY AND REGULATORY BACKGROUND
Act No. 11 of 22 August 22 1933, as amended,
Jaime Rivera
known as the “Games of Chance Act,” serves as the foundation for Puerto Rico’s slot machine in the route market regulatory framework. For the last several decades, especially in recent years, the legislation underwent several key amendments, evolving its regulatory structure and authorising slot machines. This was a decisive change in 2018 via Act 257-2018, which authorised the operation of up to 25,000 slot machines throughout the island during the initial rollout phase.
This amendment marked the first time slot machines were legally permitted to operate outside of casinos and racetracks. Under Act 11, the slot machines are restricted to those locations authorised by the Puerto Rico Gaming Commission, according to the law’s standards. The legislation also outlines a path for market expansion, allowing the number of permitted machines to increase from 25,000 to 35,000 and, eventually to a maximum of 45,000 units, subject to compliance with Act 11’s requirements.
Another significant amendment was approved in December 2022. One of its most impactful regulatory changes was the obligation for each route operator or wholesale owner to implement an internal connection system linking all their slot machines. Act 11 further outlines the technical requirements that the slot machines must meet to receive the Commission’s authorisation to conduct business. Additionally, it provides a one-year transitional period for the operators to connect their technology-compliant slot machines to the internal connection system. This transitional period is intended to provide operators and manufacturers an opportunity to achieve full compliance with the regulatory standards.
Puerto Rico’s slot machine market is expected to grow and into a potentially
“ Those manufacturers capable of supplying these requirements will have a competitive advantage in the market ”
highly profitable sector within the island’s gaming industry. The evolving regulatory environment – which was completed by Regulation No. 9647 – anticipates significant opportunities for manufacturers, distributors and service providers looking to operate in the jurisdiction. Available licences include those for wholesale operators, business owners, manufacturers, distributors and providers of goods and services for gambling devices.
MARKET OPPORTUNITIES
Within this evolving framework, various business opportunities arise for suppliers, service providers, vendors and manufacturers. First, the manufacturing of slot machines represents a substantial market opportunity. One of the challenges that successful implementation of Act 11 faces is the need for slot machines that comply with the technical requirements and can connect to operators’ internal systems. The initial cap is set at 25,000 machines, with the potential to scale up to 45,000 units. This indicates a growing demand for compliant, high-quality machines that meet the Puerto Rico Gaming Commission’s technical and operational standards. Those manufacturers capable of supplying these requirements will have a competitive advantage in the market.
Distributors and service providers also have significant opportunities within the industry. Distributors capable of providing reliable services that are compliant with market’s
regulations are essential for optimal and efficient operations. Additionally, service providers could benefit from the opportunities that will surge from this sector.
Finally, the requirement for an internal interconnection system presents a significant opportunity for technology entities capable of providing that service. The regulations for this vertical require these systems to provide extensive information for daily activity of each slot machine. That is an essential tool for the Commission’s overseeing of market activity. Therefore, those vendors capable of providing this system while complying with the Commission’s strict technical and regulatory standards will have a considerable business opportunity in the market.
In conclusion, Puerto Rico’s route slot machine market offers a new vertical for potential growth and development. With a fully regulated phased rollout, the market provides a solid opportunity for manufacturers, service providers and interconnection system providers, among other vendors to enter the island’s slot machine in route market and grow sustainably. The combination of a clear regulatory framework and an expected increase in demand creates an attractive landscape for companies seeking to establish themselves in the jurisdiction. For those businesses prepared to meet the technical, legal and operational requirements set by the Puerto Rico Gaming Commission, the opportunity is both substantial and potentially profitable.
Puerto Rico’s slot machine market is expected to grow and into a potentially reliable services that are compliant with market’s Rico Gaming Commission, the opportunity is both substantial and potentially profitable.
Old San Juan capital of Puerto Rico
BEHIND THE CRO CURTAIN
The role of Chief Revenue O cer may well be the most fashionable executive position of the 2020s – yet it is one that poses a number of questions. Gambling Insider explores the intricacies of the CRO role, with contributions from executives across the industry
The corporate world is one of constant change. At executive level, navigating the corporate field can sometimes feel like playing a game of Tetris blindfolded, balancing on a tightrope while the game is fighting back. Yet something that has remained relatively immune to any major change over the decades is the delegation of C-Level roles. CEOs, CFOs, COOs – and so on – all occupy their designated space and work in tandem with their executive counterparts, board members and lower-level employees to maintain the effective running of a business.
commonplace in so many major corporations in the modern world, the job remains somewhat cloaked in mystery. Where did it come from? What does it entail? How does it benefit a corporation? Is it a must-have for modern business? Gambling Insider takes a deep dive...
BACK TO THE ROOTS
As they always are, however – times are
C-Level position which emerged as a (not
As they always are, however – times are changing. The growing prevalence of a new C-Level position which emerged as a (not so) secret Silicon Valley super-role between 10 and 15 years ago has grown into the new hot-topic executive role in gaming and many other industries across the globe. We are, of course, talking about the position of Chief Revenue Officer – or CRO.
Now, despite CROs becoming increasingly
The best place to start is, typically, the beginning. Northern California in the 1890s (stay with me) was, and still is, home to the idyllic Santa Clara Valley which – at the time – was recognised nationwide for its ripe fruit orchards which produced French plums, apricots, cherries, pears and accounted for 30% of the world’s prune supply. Forty years later, Railway industrialist Leland Stanford and his counterpart Frederick Terman had arrived to transform the area into a bustling haven of technological innovation thanks to the founding of Stanford University and subsequent heavy investment in its tech
department. By the mid-20th century, Stanford and the tech moguls now residing in the local and newly renamed Silicon Valley went on to play a large part in warfare innovation during World War Two and, of course, the Space Race in the 1960s. Since then, the reputation of the area as one of the planet’s key business and technology innovation hubs has solidified, with the invention of the semiconductor being followed by new-tech organisations born out of the area in the 1980s and ‘90s such as Apple, Microsoft, Adobe and many, many more.
Fast forward to the 2010s, a flurry of both SaaS and Silicon Valley hyper-growth start-ups begin appointing Chief Revenue Officers – but why? Well, the theory goes that, seeing as there are so many CEOs within these highly tech-driven businesses coming from product and engineering backgrounds, they needed someone with an in-depth understanding of consumer
habits and revenue generators to work alongside their more technical, product innovation and mathematically driven skills.
The combination has, clearly, proved effective – as C-Level executives whose sole purpose is to oversee a business’ revenue are now highly commonplace on a global scale. However, operationally, revenue is a very broad field. Explaining what a CRO’s role actually entails, therefore, is one best left to those who occupy the position.
DEFINING THE ROLE
“ Nowadays, great corporate governance has become the foundation for sustainable business ” – Maria Boelius
Following her appointment as CRO and COO of Rootz last year, Maria Boelius sat down with Gambling Insider for an in-depth analysis of the evolving CRO role. Offering her definition of what the day-to-day looks like in the position, she said: “Essentially, the CRO is responsible for ensuring that all marketing and advertising initiatives drive as much revenue as possible from the company’s product audiences. Within this scope, the CRO will optimise sales, operations, marketing, product; all elements of the business that contribute to revenue generation.”
Naturally, every role – especially at executive level, will vary entirely based on not only the industry sector within which a business exists, but also on the business itself. This is a point that is emphasised by BetMGM’s CRO, Matt Prevost, who tells Gambling Insider: “Of course, as you’ve mentioned there, the role always varies by organisation. However, it can broadly be defined as being responsible for most commercial functions that are in an organisation which can range from marketing to profit and loss (P&L) ownership.”
Indeed, definitions in business are almost always highly industry and company dependent, a point that is particularly true within an industry as versatile as gaming. That being said, it is not just gaming within which the CRO role has risen to prominence over the past five to 10 years. From this fact, the most logical conclusion one must deduce is that it is the changing world within which businesses exist that has brought about this explosion in demand for designated revenuecentric executives.
As we all know, the emergence of AI and other related recent technological advances have skyrocketed data capabilities in the gaming industry, changing the way that almost every business now thinks about both generating and harnessing their revenue streams. The emergence of CROs, then, harkens back to the data-driven, technological space from which it was born.
Digitain’s CRO, Iain Hutchison, agrees, telling Gambling Insider: “It has become essential in today’s competitive business environment for companies to now have a
Maria Boelius
designated revenue-focused executive due to the increasing complexity of revenue generation across regulated markets. Five years ago, sales, marketing and finance often operated independently, while today we see more cross-functional teams delivering on customer objectives. Nowadays, businesses recognise the importance of a unified, data-driven approach to achieving sustainable growth and unlocking competitive advantages in the industry category.
“The rise of digital transformation and customer-centric strategies has increased the demand for CROs who can align product development, sales and marketing under a single revenue-focused vision. Today’s CRO must integrate technology, analytics and strategy to optimise growth, scalability and customer retention for revenue generation goals. This makes the role more crucial than ever in high-growth industries such as iGaming and fintech.”
Indeed, changes in the way we consume media have changed the way we all go about our lives. In business, it’s no different.
BetMGM’s Prevost believes these changes may have also contributed to the evolving prevalence of CROs in the gaming and other industries: “A big part of the evolution towards a CRO role might sit with changes within the media landscape over the past five years The lines of offline and digital advertising and brand building are now completely blurred.
“Making sense of where to deploy marketing investment requires data analytic skills. These skills are also required within leadership of sports betting and gaming operations which might contribute to merging marketing and P&L ownership within our industry. The prospect of AI only further elevates the need for these skills.”
When it comes to major industry shifts, many fall under the radar due to the fact that change – by its very nature – takes time. An area in which the gambling industry has seen an enormous amount of change over the last 20 years, however, is sustainability.
Indeed, 20 years ago, sustainability areas such as responsible gambling and environmentally friendly practices yielded a presence in the industry so small that they were virtually nonexistent when compared to their prevalence in the modern discourse. Rootz’s Boelius believes that this, also, could have contributed to the rise of the CRO in the last decade: “Nowadays, great corporate governance has become the foundation for sustainable business. That means understanding how money flows within the business and taking steps to ensure that profitability is based on wise business decisions and compliance.
“Across the gambling industry, there used
Iain Hutchison
“ The ideal CRO understands how figures are instrumental in business success and growth, and will speak the ‘language’ of financial management ” – Iain Hutchison
to be a more relaxed attitude towards spending that lacked the kind of accountability needed for ongoing business development. The CRO can provide accurate insights about where the spending is going and how to improve on that. It’s an essential part of operating as a responsible, commercial concern. It may be a more cautious approach to have a CRO analysing checks and balances, but it yields dividends in the long run.”
THE ROOT TO THE REVENUE ROLE
A trifecta of evolving attitudes towards data, marketing and sustainable practices, then,
have combined to form the perfect storm for a CRO revolution in the modern era – but what does one have to do to prepare themself for such a role? Hutchison gives his two cents: “The CRO role has, in my opinion, become so pivotal because it operates at the business intersection of sales, account management, marketing and implementation. With that in mind, I would say a robust background in revenue-driven industries is essential, with the iGaming and technology sectors serving as the premier training grounds for this position. These industries demand a data-driven mindset, strategic agility,
and an in-depth understanding of supply chain management and SaaS technology deliverables – all vital for driving substantial revenue growth.
“A CRO must decisively align sales, marketing and product strategies while guaranteeing that technology investments champion scalability and maximise revenue. The capacity to balance innovative in-house solutions with external adaptability distinctly defines success in this role in the iGaming ecosystem.”
Elsewhere, Prevost is thoughtful and pensive in his response – and agrees that an amalgamation of sectors is, perhaps, the best route to the CRO role for budding executives: “It’s true that the role does cover a broad range of topics. At a point in someone’s career who is looking to become a CRO, they should have an opportunity to be become well-versed in finance. It is not core for the role but someone who is pursuing a CRO role needs to understand how P&L works and how financial measurements are developed. Marketing is another vital component and the ability to tie brand back to financial metrics – that really is at the heart of becoming a good CRO.”
This point is re-emphasised by Boelius, who says: “I agree, a combined suite of experiences can best prepare you for the CRO role; having a strong marketing background in tandem with skills when it comes to sales and the ability to set and analyse budgets all contribute to this role. The ideal CRO understands how figures are instrumental in business success and growth and will speak the ‘language’ of financial management. The role of CRO may even be combined with another role: I am currently Chief Revenue and Operations Officer at Rootz since the overlap is a natural one within our business structure. It enables me to work with a detailed framework to lead both elements cohesively.”
IT’S ALL ABOUT THE DATA
Keen market observers will have noticed that data has become something of a buzzword these days – to say the least. Whether its localisation, personalisation or player retention in iGaming – or micro betting markets,
interactive in-play options or targeted advertising in sports betting – at the end of the day, it’s all about the data! This, then, means that any senior role within the gaming industry is bound to demand, at the very least, a base level understanding of data and analytics – but would our contributors agree that the CRO role requires a more specialist understanding in this area?
“I would,” says Prevost, “as marketing becomes more data-driven and the ability to segment and target audiences improves, then it is logical that the use of data to drive that segmentation to find the right audience and the right message needs to be under one organisation. That’s a big part of why the CRO role exists.”
Hutchison agrees: “Absolutely. The rise of data-driven decision-making has significantly contributed to the growing importance of the CRO role. Companies now have access to vast amounts of customer and revenue data, which, when leveraged effectively, can optimise sales, marketing and retention strategies and drive product roadmaps and revenue generation. However, this requires a leader who can align these insights with business objectives – which is precisely where a CRO adds value.
“The role has evolved alongside the digital transformation of businesses, ensuring that data, technology, and revenue strategies work in sync to drive sustainable growth and competitive advantage. To make truly effective data decisions, we must focus on the key questions at hand. When we are inundated with excessive data, it can lead to confusion. Therefore, clearly defining your inquiry is vital to uncovering the most accurate answers and achieving a deeper understanding of your needs. Anonymised case studies are a particularly valid use case for applying data insights to help existing customers and show prospective customers how insight driven our decisions are.
“Also, grasping the emotional context surrounding your decisions, as well as comprehending how data outputs are generated, is an invaluable skill. Mastering this not only enhances your decisionmaking process but also empowers you to navigate data with confidence and clarity.”
“ A big part of the evolution towards a CRO role might sit with changes within the media landscape over the past five years ” – Matt Prevost
Weighing in with her two cents, Boelius says: “It has become increasingly easier to automate amazingly detailed reports based on customer data, providing the kind of business intelligence that allows companies to take their revenue streams to the next level without having to rely on human resources to create endless Excel spreadsheets. The use of this data is what helps to create playerdriven experiences, enhancing the customer experience and opportunities for revenue growth via player retention.
“With data analytics, you are able to define the perimeters you want to see, generating meaningful reports. With a great operational team that includes data scientists and marketing specialists, you get a clearer picture of where you stand and how to get to where you want to be. When you’re working with the facts, you’re more able to contribute to reliable business decisions that aren’t based on speculation.”
IMPLEMENTING THE VISION
Picture yourself as a competent CRO in the gaming industry. You’re well versed in data and analytics and have set yourself up with the perfect stream of statistics on you customer bases’ habits. First thing's first, give yourself a pat on the back –you’re doing a great job. Now you’ve found yourself at this point, though, how do you utlise the information you have acquired? Crucially, where is it most useful? Hutchison believes that balancing your approach to harnessing your data as CRO is one that requires a multi-faceted perspective of both long and short-term strategy.
“In two words – I would say taking up a ‘balanced perspective’ is paramount. In some ways, you act like a Judge in a court. You need to have an objective, well-rounded approach to assessing the situation, or decision by considering multiple viewpoints, potential outcomes and longterm implications. It involves weighing both risks and rewards, short-term gains and long-term sustainability, as well as immediate needs and future opportunities.”
Boelius builds on this point: “When there’s a long-term strategy”, she explains, “everything that’s done should relate back to the overarching business objectives. This kind of alignment ensures purposeful and sustainable growth rather than shortterm wins. Quick wins can still make a difference, but the bigger picture must always take priority.”
Prevost agrees, stating that he believes “balancing a long and short-term view is the most difficult component of the role – particularly in light of the competitive
landscape, our relative position and uncertainty in the regulatory environment with regards to new markets – for example with iGaming and tax rates. I would say that all operators and CROs face this challenge in some form or another –right now, however, I am personally very excited about the momentum both me and BetMGM have with regard to our gaming business, improvements in our sports business, and the opportunity with MGM Resorts International to deliver omnichannel experiences to our players.”
READING BETWEEN THE LINES
Innovation is often, by its very nature, scary. When something breaks through the mould – no matter how new, fresh or exciting it may be – it is often quite naturally met with an element of scepticism. In the corporate world these doubts can often be amplified. Winning
formulas are often highly resistant to change and as the old adage goes, ‘if it isn’t broken... why fix it’
The emergence of solely revenuefocused executives, at least in gambling, has certainly stirred up questions from the more curious areas of the industry and – seeing as many things that are new are often viewed as niche – people will naturally begin to wonder where CROs actually fit in within the corporate structure. Subsequent questions of how the role of a CRO differs from that of a COO or CSO have been very commonly cited in gaming – our contributors, once again, shed some light on the subject.
it so important for modern businesses.
“Depending on the industry sector, a sales director or CSO, for example, is singularly focused on revenue – whereas a CRO must consider the cost of achieving that goal. There is obviously a tremendous amount of variability depending on the company’s core operation which, for me, is what makes the role so effective.”
“For me, the Chief Revenue Officer role encompasses a broader array of responsibilities compared to that of a Sales Director or a Chief Sales Officer’s would,” explains Hutchison, “while a CSO or Sales Director mainly drives sales performance, leads teams and nurtures client relationships to boost revenue, the CRO takes a more comprehensive holistic approach. This includes overseeing the entire revenue strategy by unifying sales, marketing, customer experience and technology, ultimately ensuring robust, long-term business growth.
“Additionally, while sales leaders focus on closing deals, a CRO plays a pivotal role in aligning cross-functional teams to drive revenue across all customer interactions. This multifaceted position positions the CRO as a key strategic and operational leader, essential for thriving in today’s competitive landscape.”
Weighing in, Prevost explains that the flexible nature of the CRO role is what, in essence, makes
WHAT DOES IT TAKE?
On face value, one would imagine that the role of a Chief Revenue Officer would purely entail managing a company’s revenues. A fair assumption to draw, but one that is – at least according to Prevost –perhaps inaccurate.
“I certainly wouldn’t say that – as a rule, CROs are only concerned with revenue. Every business is different and the scope of CRO varies. At BetMGM, the definition runs through contribution margins, so we are responsible for everything from generating top-line as well as understanding what the cost to obtain that revenue is as well.”
Of course, revenue is also a very broad field within any given corporate structure – and managing those revenue streams requires overseeing operations from topto-bottom, not only with regard to sales, but also finance. If revenue was the middle of a spectrum, however, that would make cost and profit the opposite ends of the same spectrum; but how involved is a typical CRO expected to be in these areas compared to, say, a CFO?
“It’s a good question”, Hutchison states, “overall my primary objective is to drive revenue growth, but I also recognise the critical importance of managing costs and ensuring profitability. Revenue generation and profitability are intrinsically linked, and an effective CRO must skilfully balance growth initiatives with cost efficiency to secure sustainable success for the business.
“Although financial management and cost control typically belong to the CFO, it is imperative for a
CRO to integrate revenue-driving strategies with operational efficiency and margin enhancement. By utilising AI-driven insights, robust commercial data analytics, and strategic insights, a CRO can guarantee that revenue growth not only boosts short-term gains but also fosters long-term profitability, all while maintaining a competitive advantage in the iGaming industry.”
For Boelius, holding an effective presence as a modern CRO is all about communication: “The CRO best functions as part of a team, so revenue is inextricably tied to cost/profit. The objective is to clearly communicate how everything is connected and ensure that a team of skilled leaders is working towards common goals. Communication comes in the form of clearly defined responsibilities and frequent check-ins to keep everyone on the same page.”
All jobs come with their challenges. At C-Level, however, these challenges are no doubt amplified to the extreme. This point is only exemplified further when one considers the structure of a large corporation within which any executive will be managing a number of vital international departments. Fire-fighting at executive level is a challenge that is surely unique – so much so that it would be fair to assume that the difference in the kind of challenges presented by the COO, CEO, CFO role(s) – as well as other highlevel positions – sees little variation.
As someone who has previous experience in the CEO top spot, Boelius explains how the challenge of the CRO role differs to her previous industry experience, “Having owned and operated my own casino and affiliate companies, I’d say that being a CEO has its own challenges, while being CRO is a great way of seeing your decision-making skills producing tangible results. They’re similar roles, but that of the CRO is by nature extremely operational and immersive.”
“For me, a major challenge lies in finding the right balance between short-term revenue targets and long-term strategic development. You must remain agile, adapting to shifting market trends, regulatory changes, and the dynamic nature of customer behaviours.”
Also as someone who has previously held roles included Managing Director, Commercial Director, Sales Director and CEO, Hutchison concurs that the challenge of the CRO role is one unlike any other position he has held: “Indeed, the role offers distinct challenges that set it apart from other senior leadership positions I’ve held, primarily due to its cross-functional scope. Unlike traditional roles that target specific areas like sales, account management, or implementation, the CRO must oversee all revenuegenerating departments under a single, cohesive strategy.
“Furthermore, data-driven decisionmaking is essential in this role. A comprehensive understanding of analytics, automation, and AI-driven insights is vital for optimising performance. Ultimately, the CRO must adopt a wide-ranging and holistic approach to maximise business growth and enhance operational efficiency.”
Evaluating his own perspective on the challenges of a CRO, Prevost reflects on his time in senior marketing leadership whilst alluding to the fact that, regardless of position, the gambling industry presents a set of challenges that are unique within their own right: “The challenges we face
in some ways are in the sector itself. The roller coaster ride of state launches, the challenge presented by the fast growth of the industry was similar whether I was CRO or Chief Marketing Officer. The difference in the CRO role is you have a better connection to cost and P&L than you do in a Chief Marketing Officer role, which is more brand and customerexperience focused.”
The dawn of the CRO era is reflective of the continuous innovation we push so hard for, not only in the gambling industry, but also as an evolving society. Framing CROs as the ‘next big thing’ would hardly be an accurate representation as, by all appearances, the role has already risen to a level of prominence that almost guarantees a cemented longevity in the corporate world. The only question that remains is, how far can it go?
Matt Prevost
THE STAKES GET HIGHER
Stake is now being contested in the state of California, after already withdrawing from several more. Gambling Insider Content Writer Megan Elswyth investigates…
While they might have reigned supreme for a while in the US, the law is finally catching up to online casino-style platforms that have been operating in illegal manners. Not all of them have been straight-up villains; some have simply existed in a grey area not yet covered by laws. Either way, lawmakers across North America have been cracking down on tightening iGaming regulations and, with it, cutting off online websites that don’t fit those standards.
GOING BACK TO CALI
The latest lawsuit has been filed in California by Dennis Boyle, who claims that Stake.us is operating as an illegal casino in the state. While Stake.us doesn’t facilitate real-money gaming in the same
way that a licensed online casino would, instead, it operates as a sweepstakes casino (a lawsuit has since been filed in Illinois, too).
On Stake.us, players use Gold Coins to play games with. These have no monetary value and cannot be redeemed in any way; consider these closer to chocolate coins than actual sterling. However, players can obtain Stake Cash through promotional offers and this currency can be redeemed for crypto. So the question that’s been floating around the
US for several years has been: Is this gambling or not? Sure, you can’t buy Stake Cash, so you’re not risking any of your own money on games of chance. However, sweepstakes casinos will very often give this proprietary currency away when you purchase more Gold Coins from the shop, so does that proxy still count? Lawmakers are still figuring it out. Speaking of which, this is exactly what lawmakers in California are trying to figure out now that Boyle has initiated the lawsuit against Stake.us.
If the court favours Boyle, Stake.us could be forced to leave California. The state does not currently allow real-money online casinos, so there is no way that Stake.us could even file for a licence to operate. This is hardly an isolated incident, either.
EAST COAST, WEST COAST
A few weeks ago, Stake.us announced that it was pulling out of New Jersey, Delaware, West Virginia, Pennsylvania and Rhode Island. As of 21 March, player accounts were placed in ‘Redeem Only’ mode and no longer function as they previously did. Customers in those states can no longer play games or make any purchases; for the moment, they can redeem any Stake Cash remaining in their balance. On its website, Stake also explains that it no longer operates in Kentucky, Idaho, Michigan, Vermont, Nevada, New York or Washington. While many players took to places like Reddit to complain, as many of them enjoyed being able to gamble anonymously through crypto channels, several were quick to point out that Stake.us allowed excluded players onto the platform. As it’s not a regulated site, Stake.us was still accessible to players who had self-excluded from gambling sites, and many users also reported that little action was taken when they reached out to the platform for help. It’s probably no coincidence, then, that New Jersey, Delaware, West Virginia, Pennsylvania, Michigan, Connecticut and Rhode Island are all of the US states with regulated online gambling laws, and therefore established gambling commissions with the means to take down websites they find unsuitable for players in their jurisdictions.
Has a gambling commission with regulated online casinos
Stake.us has recently withdrawn from
High 5 Games also made a similar move earlier this year, when in February, it quietly changed its terms and conditions to include a new roster of excluded territories. These were, you guessed it: Connecticut, Delaware, New Jersey, Pennsylvania, Rhode Island and West Virginia. As for the wider US market as a whole, the Social Sweepstakes Gaming Alliance (SPGA) and the American Gaming Association (AGA) are currently battling it out to try and establish whether these online sweepstakes websites are legal, once and for all.
CAN IT ALL BE SO SIMPLE?
Sweepstakes casinos aren’t the only platforms in grey areas, either. The lucrative world of ‘events contracts’ has also caught the eyes of several gambling control boards, and they aren’t happy about them. The event contracts business model is simple: The site offers ‘event contracts’, which allow players to place money on one of two outcomes and ultimately win or lose money based on the outcome of that game. As Matt Schuler, Ohio Casino Control Commission Executive Director, puts it, “plainly stated, [that] is operating online sports gaming.”
At the start of April, the OCCC issued a cease-and-desist letter to Kalshi, Robinhood and Crypto.com following an investigation
into their business practices. This follows similar steps taken by Nevada and New Jersey, with both states also in the process of shutting down Kalshi’s operations in their jurisdictions. The Kalshi CEO wasn’t happy, though, and took to Twitter (X) to share his plans on how he was going to retaliate by suing through the federal courts. However, Tarek Mansour does seem to be a man with a lot of plans, as the other recent ones from his feed include launching his own news media organisation and promoting betting markets on the Trump Administration’s appointments and policy changes… while having Donald Trump Jr as the company’s Strategic Advisor.
Creating laws and regulations, especially for ones as complicated as gambling and sports betting, are always going to take several years and revisions to get right. During this time, customers are going to play at whichever online casino suits their needs, even if it means playing at somewhere unlicensed. Now that several states are growing more confident in what they will and won’t allow, we can probably expect the scene to shift towards a more ‘traditional’ online casino ecosystem. Online sweepstakes casinos and events wagering were never going to go away overnight, but these latest lawsuits certainly feel like there is enough opposition from the other side. New
UNDERMINING THE EU MARKET?
Gustaf
Hoffstedt , regular Gambling Insider contributor and General Secretary of the Swedish Trade Association for Online Gambling, looks at the fragmented regulation of gambling monopolies in the EU...
In December 2017, the European Commission quietly announced it was withdrawing from all legal proceedings related to gambling regulation. From that point forward, disputes would be left entirely to individual member states.
It was a stunning reversal. Just a few years earlier, the Commission had actively challenged national gambling monopolies for violating EU internal market rules, arguing that many member states prioritised state-run gambling revenues over fair competition and consumer protection. In 2014, the Commission even launched legal action against Sweden for maintaining its state-controlled monopoly.
The Commission’s involvement mattered. It kept national governments in check, preventing them from favouring domestic operators at the expense of competition. Being part of the EU – or in Norway’s case, the European Free Trade Association (EFTA) – comes with obligations, chief among them the commitment to uphold the four fundamental freedoms: The free movement of goods, services, people and capital.
When Sweden faced the prospect of being taken to the European Court of Justice, the Government acted swiftly. A century-old gambling monopoly was replaced with a non-discriminatory licensing system. Channelisation rates surged from 50% to 90% (why it later dropped to 75% is another story). The new system wasn’t perfect, but it was a vast improvement –bringing order to the market, generating new tax revenues and ensuring consumer protections actually reached players.
Fast forward to 2025 and the European Commission is nowhere to be found. Meanwhile, countries like Austria and Norway are openly undermining the EU’s internal market. Norwegian authorities are restricting citizens from accessing Europe’s gambling offerings, despite clear legal rights for consumers to use services from operators based in other EEA countries.
In Austria, the situation is even more troubling.
The judiciary is being weaponised against foreign gambling operators, particularly those based in Malta. Austrian courts are forcing these companies to refund customer losses –not due to fraud, unfair odds or manipulated RNGs (random number generators), but simply because Austria has granted itself an exclusive gambling monopoly.
The legal logic behind these rulings is absurd. Players who voluntarily chose to gamble with these companies are being reimbursed because the operators lacked an Austrian licence –something impossible to obtain by design. Yet, unsurprisingly, no lawsuits have been filed demanding that winnings be annulled.
Enter Malta’s Bill 55, a law designed to shield Malta-based gambling operators from foreign
court rulings that contradict EU principles, preventing their assets from being seized in cases like those in Austria.
Now Austria is asking: Where is the EU? Why aren’t Austrian court rulings being enforced across the Union? It’s a fair question, given that member states are legally obligated to uphold each other’s court decisions. But an even bigger question remains: Where was the EU when Austria violated internal market rules in the first place? By stepping away from gambling regulation in 2017, the Commission created a vacuum. Member states seeking to maintain protectionist gambling monopolies were given free rein, while operators who followed EU rules were left in legal limbo. The result? A fragmented and inconsistent regulatory landscape where fundamental EU principles are treated as optional.
No one benefits from this disorder.
Austria is frustrated that its court rulings aren’t enforced elsewhere. Gambling operators who comply with EU regulations face uncertainty and arbitrary restrictions. Consumers, meanwhile, are caught in the crossfire –left with fewer legal protections and limited access to regulated gambling services.
This is not how the EU is supposed to function. It’s time for the European Commission to re-engage and enforce the very principles that underpin the internal market. The same goes for the EFTA Court. These institutions must defend the agreements that Sweden signed in the 1960s –agreements that eventually led to our EU accession in 1995, alongside Austria.
I love the EU and what I love most is its greatest strength: The free movement of people, goods, services and capital. These freedoms are what make the Union work. It would be a relief to see the Commission rediscover this core value –especially at a time when other global actors are erecting new trade barriers.
The EU has been on the sidelines for too long. It’s time to step back into the game.
Gustaf Hoffstedt
A SHIFTING, GLOBAL MARKET
Gambling Insider speaks with Gareth Crook, SVP of Sports at Pragmatic Play, to discuss reliable sports betting data, greyhound racing and more
Pragmatic Play Sports offers a modular system for sportsbook customers. Are there modules that are more popular in certain regions than others, and are there any that surprise you in terms of their popularity?
We developed the content management system to allow us to do more with our sports content, and achieve greater flexibility and efficiency for operators. Ultimately, operators are free to configure their sports pages however they like, but we provide vital input into that strategy.
In Europe, for example, speed and ease of navigation are crucial to consumers and our Quick Links, Featured Events and Search modules get a lot of traction, allowing users to navigate to their preferred event or selection in an instant. In Asia, sportsbooks tend to be more in-play dominant, so a typical sports landing page will load tens, if not hundreds,
of concurrent in-play events. In Africa, the business mix is different again, dominated by high volumes of pre-match multiple bets. There, a homepage would need to cater for that by displaying a longlist of pre-match football events, allowing users to easily build multiple bets. It’s almost replicating the traditional retail coupon view.
Finally, the modular system also allows us and operators to showcase and drive revenue into new products. A good example is our pre-populated Bet Builder component. With this, users can choose from a variety of pre-published Bet Builder selections direct from the homepage. We are seeing very good engagement with this module already.
When it comes to odds data, how do you ensure it remains reliable?
At Pragmatic Play Sports, we are proud of
our relationship with official rights holders, many of whom pay a premium to guarantee the reliability of their data. Through a central contract with Pragmatic Play Sports, operators can benefit from the efficiencies of official and reliable odds, and incident data.
As the provider of the sportsbook platform, we monitor and assess many KPIs that ensure the reliability of data. This is not an exhaustive list, but we focus on the number of pricing errors, market and event uptime (i.e., the amount of time an event is available for betting), bet settlement speeds, accuracy of price changes (relative to what’s happening in an event), rejected bets caused through price changes of market, event suspensions and more. Friction caused by these and other such issues is significantly reduced using reliable and official odds data. This benefits the operator and their
customers, ensuring a better overall experience for both.
How can you tell a reliable data source from a non-reliable data source?
The simplest answer is latency. A non-reliable data source will be highly latent. Odds, price changes, scoreboard and general incident data (goals, cards, VAR checks and any other events that dictate the betting odds) will be delayed in relation to what is happening in real time.
For the operator, this means more pricing errors, delayed bet settlement, high volumes of rejected bets and, for customer support teams, the need to resettle or void bets and deal with unhappy customers.
The real impact is on the consumer. They are much more likely to be faced with longer in-play bet delays. Scoreboards and match trackers will be delayed, which could lead to misinformed betting choices. They will also experience a higher volume of rejected bets as operators will have to impose controls to deal with the latency. Overall, it adds a significant amount of friction and pain to the sports betting experience.
There has been an increase in bans on greyhound racing around the world. As a brand offering both a sportsbook and virtual greyhound racing, how do you feel greyhound betting will change?
Greyhound racing has been in the news recently following a ban in Wales, although the UK Government was quick to remind us that there are no plans to ban the sport elsewhere. Ultimately, greyhound racing is a
“ Features will come and go, but consumers will always demand a fast and reliable sports betting site where navigation is seamless from one page to the next ”
legal sport in the countries where we provide betting and, while this remains the case, we strive to offer a market-leading product on racing in those territories. Many customers enjoy the thrill and excitement of betting on greyhound races, which has been the case for over a century. I don’t see this news having a material impact on greyhounds as a product offered from the UK.
The governing bodies of UK greyhounds, like any other sports around the world, take measures to ensure their sports are regulated and run responsibly. This is important to us as a provider of these products.
For the operator, it is another reminder to diversify and not be over-reliant on a single product. Our sportsbook offers betting on tens of thousands of different sports events globally each month, so I would hope this recent news has little direct impact on the operator and their customers.
What other regulatory changes do you feel will impact the sports betting market?
We have already seen a raft of regulatory changes hit many territories around the world, most notably the UK, where operators have had to pivot their entire strategies to embed regulatory measures into their DNA. This has involved deposit limits, responsible gambling checks, affordability checks, restrictions on marketing advertising and more. My guess is that other countries around the world will pivot to similar measures, if they haven’t already. A good example of this is Brazil, perhaps the biggest newly regulated online betting market of them all.
At Pragmatic Play Sports, we were proud to launch major brands in the regulated sports betting markets of Spain, Germany and the UK. These launches required huge collaboration, not only between compliance teams within our business, but also on the operator side. Launching our product in multiple regulated territories is pivotal to our strategy – and you can look forward to more news on this front soon.
How are the needs of players changing and how does this reflect in your products?
Operators and their customers will always have an eye on new ways to bet. In recent
years, we’ve seen a shift towards bet builder (same-game parlay) products, player markets and stats-related betting opportunities. We recognised this trend early, hence our addition of a football player markets product announced in 2024. I see obvious growth this year and beyond in micro markets, offering users the ability to bet on instant betting selections that appear and are settled in very quick time.
I’m a big advocate of free-to-play games as a low-cost acquisition and retention mechanic for operators. These are fun to play and are much more impactful to many than the receipt of a free bet. I think these games are underused in many territories and can add to the enjoyment and thrill of sports betting. Features will come and go, but consumers will always demand a fast and reliable sports betting site where navigation is seamless from one page to the next. I never see this changing. At Pragmatic Play Sports, we place an emphasis on ensuring our products are as fast and reliable as possible, while keeping up with the modern-day demands of sports betting customers when it comes to bet pattern changes, like we’ve seen with player markets.
Gareth Crook
WORTH THE RISK
Regular Gambling Insider contributor Paul Sculpher, Director of GRS Recruitment, enlists the help of Josie Preston, Andrea Lazenby and David Mills to assess Chief Risk O cer role – and how it can be supported by external consultants
This issue of Gambling Insider magazine is all about the CRO role, with the cover feature focusing on Chief Revenue Officers across the industry. To work alongside, that, though, I thought I’d take look at a different type of CRO – the Chief Risk Officer – and how they can be supported in a job that covers a huge area with plenty of threats to the business. Consultants sometimes get a bad rap –usually with the gutter press trumpeting how much this or that government department spends on them – but you wouldn’t put a plumber on your payroll to fix a busted tap, you’d bring them in to deploy their skills and then leave. The same theory applies to
consultants. So, firstly I spoke with Andrea Lazenby, a Consultant with Betsmart Consulting, about the all-round support people like her can offer.
A DIFFERENT ANIMAL
She told me “first and foremost we can help operators be assured they have a robust governance setup, turning a large raft of policies (and the interpretation of those policies (not always the same thing) into a workable set of procedures. That’s a task in itself, and we both help people with setup and also offer a ‘spot check’ with our PrepSmart concept. It can be overwhelming trying to make sense of changes in the regulations or approaches to regulation, but as consultants we have a range of experience across a number of different jurisdictions, so there aren’t many situations where something’s completely new to us.”
This does ring true to me – half my professional life is as a casino consultant on the operational side, and much of the value I offer is from seeing how a huge range of operators tackle problems and using that knowledge to help clients. But compliance is in some ways a different animal.
Lazenby said “it’s important for clients to realise they have options – it’s rarely as cut and dried as ‘do this to be compliant’. Attitudes to risk mean there’s a spectrum of how you set up your compliance framework, and we are in a good position to help operators decide how much risk they want to bear in the various areas”.
Lazenby, and both the other consultants we’re featuring in this article, have actually
sat in the hot seat of compliance in various ways, and that has a value too. She added “we think part of the value we offer is that we’ve been involved in these decisions in our past roles, both mapping out the framework within which we work, and answering to the regulators when they ask the awkward questions”.
That’s sure to add value in terms of being able to work empathetically, including understanding the inevitable politics within complex organisations.
A CAREER SAVER
The second person I spoke with was Josie Preston, founder of Ophion Risk. I wanted to get a particular insight into what kind of support a CRO might need from a consultant in the AML part of their role.
One of the first things Preston pointed out was the situation as regards to internal investigations. Not every person at CRO level will have conducted detailed investigations, and in the world of betting and gaming there’s plenty of detail to be had. It can also be useful to take some of the personal connections out of an investigation situation by bringing in an external.
Preston also echoed Lazenby’s point about policies and procedures. She told me: “If, for example, a CRO is newly appointed to the role, it can be helpful for an experienced consultant to give the complete risk framework a onceover to ensure all regulatory requirements are met, and policy or procedural points are not out of date due to legislative and/or regulatory developments.”
Paul Sculpher
Preston was also keen to get into detail as regards SARs – Suspicious Activity Reports. “They’re a critical part of particularly the AML part of the Risk function, presenting personal legal liability. While consultants can’t be directly involved in their generation, they can provide support and training to MLROs in management of the internal SAR regime, investigation and processing of SARs. This advice – based on experiences elsewhere – can be invaluable in providing the operator’s CRO with board-level assurance.”
Consultants can also support Nominated Officers/MLROs to manage their workload or areas where they may have limited experience, but which present significant risk to the operator.
For example, Preston continued: “The UK’s ECCTA 2023 legislation requires a Fraud Prevention framework to be implemented to directly protect the operator from the corporate ‘failure to prevent fraud’ offence. Additionally, a lack of experience or understanding of Counter Terrorist and Proliferation Financing is a commonly observed area of development for both MLROs and CROs alike; and a lack of expertise in these areas may leave CROs, and subsequently the operator, exposed to the commission of criminal offences.”
Presto concluded: “With Operating licences at risk along with Personal licences, bringing in targeted expertise can be a career saver – as consultants we’ve seen huge numbers of different environments; and can pick up on weaknesses that aren’t apparent to people who work with the same framework every day.”
SEPARATING STAFF, MANAGEMENT AND EXECUTIVES
My final discussion was with industry veteran David Mills, Managing Director of
Andrea Lazenby
Casino Compliance. I wanted to better understand which aspects of regulatory training were considered most significant in his view. “Firstly, I would say staff, management and executive training must be considered from different perspectives. Staff training, for instance, is about specific issues they may need to develop a uniform knowledge of to properly perform their roles, such as the licensing objectives, safer gaming measures and anti-money laundering controls. For training purposes, it is important that staff understand the rules in place and are aware of the reasons why these controls are deemed necessary. A consistent understanding across all staff is imperative, which will help them identify potential harm or concern”.
This makes sense – all staff should have a standardised level of knowledge about core aspects of the regulations, so what about management and executives, how is that different? “Well, to start with, the nature of the management role is usually part of the delivery of the gaming service, they are often at the front line with face-to-face contact with customers; so are therefore best placed to assess concerns, apply policy controls and other harm-mitigation tools. It is important that management have a deeper understanding of the regulations, industry guidance and corporate policies. This training should be targeted, practical, challenging and, importantly, use shared learning from all parties. I prefer these sessions to be less formulaic and free-flowing, with a greater level of dialogue. We use personal experiences and case studies to stimulate discussions, often including topical issues raised by the Compliance team. The intention is to build genuine knowledge and help create practical solutions, while ensuring that customer interaction, suspicious activity reports and
other internal reports are delivered at the highest possible standard”.
How about executives, who will generally be a step more removed from the frontline action? “This is a more evolving area of training and of course it includes an understanding of both staff and management training, which is important, but we are now looking to apply corporate governance, validation and operational oversight. Each role will have its own structures and formal responsibilities; some are laid out in the LCCP and within Guidance, but include ownership, board, senior executive, finance, marketing, compliance and MLROs. The purpose of this training is to draw these roles and responsibilities together, adjust and align the corporate governance policies to ensure there are appropriate checks and balances within the business that are regularly reviewed, stress-tested and monitored, with a clear and consistent message and demonstrable outcome. It really can be that simple”.
Mills also told me he does a lot of work with pre-audit/mock Gambling Commission audit, so I asked him how effective the combination of training and pre-checking tends to be. He told me: “I am pleased to say none of our clients have been subject to any regulatory action since our inception in 2011, a standard we aim to maintain!”
BRIDGING THE GAP
It’s tough enough working a job like a Chief Risk Officer, and you don’t always have the in-house expertise to feel 100% sure you are protecting your employer. Bringing in consultancy help can bridge the gap, both in terms of a fresh pair of eyes to overlook your setup and training your people to be more effective. It may just be worth the Risk.
David Mills
Josie Preston
GROWTH AND OPPORTUNITY
Michael Barsin , Novomatic Sales Asia-Pacific, analyses Asia’s biggest and emerging markets
Asia’s land-based gaming industry is experiencing unprecedented growth, making it one of the most dynamic and exciting markets in the world. Each country presents a distinct landscape shaped by a unique regulatory framework, specific cultural preferences and market demands. As a technology provider, we recognise the importance of tailoring our diverse product offerings to meet these varied requirements, ensuring compliance with local regulations while delivering cutting-edge solutions to operators and players alike.
A DIVERSE AND EVOLVING MARKET
The core land-based gaming markets in Asia include Cambodia, Goa, Macau, Malaysia, Nepal, the Philippines, Singapore, South Korea, Sri Lanka and Vietnam. Each of these markets operate under specific regulatory conditions and technical standards, overseen
by local governing bodies such as the DICJ (Macau), PAGCOR (the Philippines), GRA (Singapore) and KTR (South Korea). Close collaboration with regulators ensures that our technology solutions adhere to the highest industry standards, supporting a responsible and well-regulated gaming environment.
KEY MARKETS DRIVING GROWTH
Macau remains the epicentre of gaming in Asia, benefiting from its status as a Special Administrative Region of China. Its regulatory framework has fostered a robust casino ecosystem, with world-renowned integrated resorts like The Venetian Macao and Galaxy Macau offering a blend of gaming, entertainment, dining and luxury shopping. Recent years have seen a shift in Macau’s customer base, with a growing emphasis on mass-market players rather than just high rollers. This diversification strategy has led
to the development of new attractions and amenities aimed at a broader audience, helping to mitigate the impact of economic fluctuations and regulatory changes in mainland China. Since legalising casinos in 2005, Singapore has rapidly become a global gaming hub and it is home to iconic properties Marina Bay Sands and Resorts World Sentosa. These destinations emphasise premium experiences, drawing affluent visitors from around the world. Singapore’s regulatory framework is among the most stringent, with strong measures in place to promote responsible gaming. This well-structured approach has safeguarded the market’s reputation while ensuring long-term sustainability and continued sector growth.
The Philippines has emerged as a key player in the region, particularly with the success of Entertainment City in Manila. The Government’s proactive support of
the gaming industry has attracted foreign investment and led to the development of new gaming resorts. The Philippines’ vibrant tourism scene, coupled with a relatively relaxed regulatory framework, positions it as an attractive destination for both operators and players.
In addition to being a premier destination for international tourism, the Philippines boasts a robust local gaming market, with many residents frequently visiting casinos and integrated resorts (IRs). These IRs have become popular “staycation” venues, offering diverse entertainment and leisure options. From an operator’s perspective, it is just as important to engage local clientele as it is to attract inbound tourists.
Culturally, the Philippine gaming market stands out from the broader Asian region. While table games typically dominate across much of Asia, the Philippines displays a clear preference for electronic gaming machines. This unique market dynamic, combined with transparent and well-defined technical regulations, makes the Philippines an especially attractive environment for technology providers seeking to introduce innovative gaming solutions.
Looking ahead, the privatisation of PAGCOR-operated casinos, which is set to commence in 2026, will impact the competitive landscape. This move will encourage further investment and innovation, allowing private operators to enhance gaming experiences and modernise infrastructure. PAGCOR has anticipated the
development by embarking on an extensive modernisation initiative, upgrading 4,000 EGMs across its properties in 2024–2025. This presents a significant opportunity for EGM manufacturers to introduce new, stateof-the-art products to the market.
Despite these advantages, the Philippine market faces challenges, including competition from neighbouring countries and the need for ongoing investment in infrastructure and customer experience. However, the potential for growth remains strong, especially as the country continues to attract visitors from across Asia.
THAILAND: THE NEXT BIG OPPORTUNITY?
Thailand is on the brink of entering the land-based gaming sector, with international operators such as Melco, Sands and Resorts World already expressing strong interest in securing licences. While gaming laws are still being finalised, indications suggest that Thailand will adopt the integrated resort (IR) model, mirroring the successful frameworks of Macau, the Philippines and Singapore. Integrated resorts help boost tourism by providing a diverse offering of facilities such as hotels, entertainment, dining and shopping. Thailand’s wellestablished tourism infrastructure, which includes world-class airports and attracted approximately 35 million visitors in 2024, positions it as a prime candidate to become one of the largest land-based gaming markets worldwide.
Michael Barsin
A COMMITMENT TO INNOVATION AND RESPONSIBLE GAMING
At Novomatic, we are thrilled to play our part in this rapidly evolving region. As the Asian market continues to expand, we look forward to shaping its future by working closely with regulators and industry stakeholders to foster a responsible and thriving gaming ecosystem.
THE INSIDER THREAT
Mark Courtney, Chief Product O cer at Cifas, breaks down ‘insider threat’ in the gaming industry and how rms can try and ght against it
Fraud and financial crime pose a significant threat to the UK economy. The gambling sector is a prime target for criminals who look to profit from this billion-pound industry. Nearly 24 million adults gambled in 2022, and as an industry it is said to generate around £14.3bn ($18.52bn) annually.
However, as gambling grows – particularly online – it becomes more vulnerable.
While all gambling operators will be focused on keeping external threats at bay, an equally pressing concern should be on the danger from
within. The ‘insider threat’ – where employees abuse their position to exploit systems, leak confidential data or facilitate fraud – is a growing concern across many industries. A recent study found that 74% of organisations were at least moderately vulnerable to insider threats.
UNDERSTANDING THE INSIDER THREAT
Cifas data revealed an increase of 14% in insider threat cases in 2023, with nearly half (49%) involving dishonest actions by employees. Alarmingly, 38% of these employees had been in their post for less than a year, while 17% had been in their roles for over a decade. Financial pressures remain a significant motivator behind this type of threat, driving individuals to exploit their access to systems for personal gain or in collaboration with external crime groups.
“ The ‘insider threat’ – where employees abuse their position to exploit systems, leak confidential data or facilitate fraud – is a growing concern across many industries”
In the gambling industry, insider threats –also known as ‘innys’ – can take many forms, such as:
• Theft : Employees stealing funds or valuable assets, such as customer data or company equipment.
• Collusion with fraudsters: Staff members working with external criminals to facilitate money laundering or illicit transactions.
• Data leaks: Selling sensitive customer or corporate information to organised crime groups.
• Misrepresentation of qualifications:
For example, individuals lying on their CVs to secure a job, raising concerns about their likelihood to deceive the organisation further.
RED FLAGS TO WATCH OUT FOR
Although insider threats do not follow a single profile, gambling operators can monitor specific behaviours that may indicate fraudulent intent. Warning signs can include:
• Avoiding time off: Employees reluctant to take holidays may fear their fraudulent activity being uncovered in their absence.
• Accessing systems beyond their job requirements: Unauthorised attempts to view or modify sensitive information.
• Living beyond their financial means: Sudden unexplained wealth, such as luxury purchases or extravagant spending habits.
• Sharing passwords and misusing confidential information: A sign of potential collusion with external fraudsters.
• Behavioural changes: Employees with grievances against the company may be more inclined to engage in dishonest activity. Meanwhile, staff members who have developed an addiction may turn to internal fraud to fund their habit.
• Resistance to security protocols: Attempts to bypass security measures may indicate intent to exploit vulnerabilities. By monitoring for irregularities in system access, financial transactions and cross-sector data, and intelligence to identify patterns and address vulnerabilities, gambling operators can detect suspicious behaviour before significant harm is done. Real-time peer-to-peer private communication between operators and other organisations is therefore critical in strengthening collective defences.
WAYS FOR THE GAMBLING INDUSTRY TO MITIGATE INSIDER THREATS
To safeguard organisations, operators should ask themselves three key questions:
1. Are there opportunities within our organisation for employees to commit fraud?
2. What factors might motivate an employee’s dishonest behaviour?
3. How might they justify or rationalise fraudulent actions?
Addressing these questions helps identify vulnerabilities and implement counter-fraud measures, such as:
• Enhanced vetting processes: Conduct thorough background checks not only at the onboarding stage but throughout an employee’s lifecycle. This includes verifying qualifications, employment history and financial stability.
• Proactive monitoring: Regular risk assessments and system audits help detect unusual activity and mitigate potential threats early.
• Robust policies: Clearly defined policies must outline that dishonest actions will be investigated and addressed. These policies should be regularly reviewed and updated.
• Whistleblowing mechanisms: Providing confidential channels for employees to report suspicious behaviour encourages a culture of accountability and transparency.
• Physical and digital security measures: Multifactor authentication, restricted data access, controls concerning the use of personal devices and secure login protocols can all help prevent unauthorised access to sensitive information.
BUILDING A RESILIENT WORKFORCE TO DETECT INSIDER THREATS
Beyond implementing robust security measures, operators must foster an antifraud workplace culture that prioritises ethical behaviour, transparency and security awareness. A critical component of this approach is comprehensive fraud prevention training. Employees should be equipped with the tools and knowledge to identify and report potential threats, and know what it means to play a critical role in their organisation’s first line of defence. Training should be:
• Concise and interactive: Engaging content ensures employees retain crucial insights without disrupting daily operations.
• Ongoing and up-to-date: Fraud tactics evolve, and so must employee education.
• Tailored to different roles: Customised training ensures employees understand the specific risks relevant to their positions. Furthermore, data and intelligence sharing
across sectors is essential. Operators should access real-time fraud data and intelligence not only within their industry but also from across finance, retail and cybercrime sectors. This enables them to anticipate threats and disrupt criminal activity before it escalates.
IN CONCLUSION
Operators who adopt proactive security measures and commit to building a counterfraud culture put themselves in a stronger position to reduce insider threats, protect customer data and funds, and maintain public trust. The key to success lies in a multi-layered approach combining enhanced vetting, continuous monitoring, strong internal policies and a culture of awareness. With insider threats a growing concern and gambling a colossal industry, a security-first mindset that combines people and technological innovation is no longer optional for operators – it’s essential for long-term integrity and success.
ABOUT MARK COURTNEY
Mark Courtney leads the Product and Technology Division at Cifas – one of the UK’s leading fraud prevention services – overseeing the product innovation of both new and existing services and introducing cutting-edge products. Courtney has over 20 years of global experience in fraud prevention, identity verification and building both B2C and B2B software products. He plays a crucial role in the fight against fraud and financial crime in the UK by facilitating and innovating the sharing of data, intelligence and learning.
Mark Courtney
SHOW REVIEW:
The threats among us
At IGA in San Diego during April, you stated prediction markets are the greatest threat to Indian gaming currently. Would you mind delving into that further?
This is a brand new issue that’s just popped up. The first time we even heard of it was right before Christmas when this came out, and I don’t think it’s a coincidence that they dropped it literally on 23 December. We’ve had to bring everybody up to speed and I’ve had to do a crash course on this because this is outside our normal realm of operation. There’s a company named Kalshi who is looking to move sports spending onto the Commodities Future Trading Commission (CFTC) underneath their regulatory authority.
Essentially, taking something that’s dictated as an event market and now moving it into
the prediction markets. If they’re allowed to do so, this would not only preempt tribal gaming exclusivity and tribal sovereignty, but also state laws and rights. This is a major issue for not just tribes, but states and any area who is either pro-gaming or anti-gaming. You could have online sports betting there tomorrow if that’s allowed to go through. For us here in California, we’ve worked over the last four years on sports betting and what that could potentially look like. We have spent hundreds of millions of dollars, so much political power, effort, time and all of that could potentially be for naught with this new threat that has seemingly come out of nowhere. But, as we move forward, we will have our moment in the sun.
During a tense atmosphere at IGA in San Diego, California Nations Indian Gaming Association (CNIGA) Chairman James Siva spoke with Gambling Insider on the threats currently challenging Indian gaming the
We have a roundtable in front of CFTC
on 30 April. We’re hopeful we get a positive response out of there, but we are also already working on some backup plans and a political strategy, including getting members of the Senate to weigh in while also reaching out to different congressmen that can support this, reaching out to Attorney Generals and states that are strictly anti-gaming such as Utah, Texas and Hawaii, who fundamentally oppose any forms of gaming. This is a wide-reaching threat and we’re really trying to do our best at bringing as many people into the room as we can to properly spread information.
If that roundtable were to go in a negative way, what would be the plan of action for CNIGA?
For us here in California, I think the first
immediate reaction would be to file a lawsuit in some form or another and continue the political advocacy. Interestingly enough, the group which oversees the CFTC is the Senate Agriculture Committee, and we know many of those senators. We’ve immediately contacted them and, if this goes our way, that’s who we’ll continue to reach out to.
Something that’s not getting talked about enough is the connection to the current administration with these predictive markets because you can’t get away from the fact that Donald Trump Jr. is on Kalshi’s Board of Directors and we’ve seen the speed at which this administration will move with executive orders. They are forcing things into court. They already said we know we’re not going to question the legality of this or who it affects.
it’s a matter of when, not if. When does it come here? How does it come here? The one thing that we are firmly holding onto as a principle is that no matter what sports betting looks like, it has to be led and controlled by tribes.
We’ll see what the court says and I think that’s their strategy on this one too. But, unfortunately, Indian country isn’t built to respond at that speed. We have various levels that we have to go through, educating our tribal leaders, going back and talking to our membership to see if we can even have the authority to do this. Indian country, as big and as wide as we are, is also very small, and we are full of our own levels of bureaucracy. It gets complicated to move quickly, but we’ve had to really try and rethink how we’re going to approach this in the speed in which we have to engage with them.
Of course, and as you mentioned sports betting, coming off events such as the Super Bowl and March Madness which obviously generates millions of dollars in handle, is there added motivation felt from tribes to bring a regulated sports betting market to California?
Yes and no. I used to say *if* sports betting comes to California, but now I’ve reframed to
Tribes are the operators in California, period. And we want to make sure that continues to remain the truth. We do envision sports betting coming into California. How that happens is a complicated issue, especially here where we have the initiative process of gathering signatures and getting out in front of voters to amend the constitution. Right now, voters have a lot of negative sentiment out there. We’ve seen it in the last election, we’ve seen it in the previous election, so we’re very cognisant of moving forward while holding our principles close to our chest. We’re also realising that we have to be realistic in what the voter would respond to, and you can only go back to the well so many times.
We had Prop 26 and 27 a few years ago, which were decisive defeats. We’ve continued the outreach and polling, which is so important because we’re trying to make these decisions based on actual real data. For the upcoming election cycle, it’s not there. The voters aren’t there for this. No matter who it is, if it’s commercially led, if it’s tribal led, they’re just not ready for it here in California. So for us, it’s about choosing where we can put our political strength so it’s at the right place and at the right time, which is frankly not right now.
With these verticals popping up seemingly every month, whether it be DFS, sweepstakes, prediction markets, how does someone such as yourself remain ahead in terms of information and what’s best to do for tribes?
For me, I try to reach out to people who are
subject experts in those areas. With prediction markets, I’ve been trying to learn CFTC speech because they have no idea what tribal sovereignty is and, frankly, they don’t care. So, when we go in there and advocate for ourselves, we have to be able to speak their language. We have to talk about why sports betting are event markets and not prediction markets, speak to the issues with liability, where that ends, where that stops; and use their own terms to get them to understand why these rules are fundamentally incorrect from their own perspective.
Again, it’s a lot of education and it’s a lot of work, doing deep dives into online platforms and long phone calls, Zoom calls and all of these things. It can be really complicated and at the end of the day, as a tribal leader, my main focus is running our tribal government back home, taking care of our tribal citizens, but these are direct threats to them.
- James Siva, CNIGA Chairman “With prediction markets, I’ve been trying to learn CFTC speech because they have no idea what tribal sovereignty is and, frankly, they don’t care”
California Council
Digital age of problem gambling
on Problem
Gambling Executive Director Robert Jacobson speaks on how challenges with gambling addiction have begun shifting toward the online space
How has problem gambling evolved online in recent years?
Fifteen years ago, callers who indicated their preference for any form of gambling or location of gambling to our helpline represented less than 1%, whereas in 2024 they represented nearly 15% of all callers. We’ve also seen increases in callers who are seeking help for online gambling. Although this is not something you would generally associate with online gambling, we’re seeing increases in callers seeking help for high-frequency cryptocurrency trading, high frequency stock trading and many other activities that are also centred around high-risk online wagers.
Could those increased calls also serve as a positive sign there are more resources available, or rather represent that problem gambling has been increasing in recent times?
Well, when we tell you how much problem gambling there is, we’re typically citing something called a prevalence survey, and what we’re interpreting is the prevalence of a problem gambler existing, or what is the prevalence that somebody will experience a gambling problem at some point in their lifetime. Unfortunately, due to a lack of funding, we have not had a prevalence survey in California for nearly 20 years, so I cannot definitively say gambling problems have increased or
decreased since we base it off the most recent data we have.
What we can generally say is there is a qualitative belief in the field that online gambling is likely to increase prevalence rate. This is actually substantiated by research out of European markets, but again, we don’t have that research to substantiate it in our markets. The research we do have tells us that whether or not prevalence increases, the speed and frequency of losses, the speed and frequency of which somebody develops an addiction and the harms that they experience through their addiction all occur more rapidly. Whether or not more people are developing a problem as a result of online gambling, those who do develop a problem are being harmed more and harmed quicker because of the increased access.
In California, as in most markets, the helpline number is posted in the majority of casinos and places where you can gamble legally, but not posted in locations where you cannot gamble legally. Qualitatively, not quantitatively, we can infer that if we’re seeing massive increases on people who are calling for help related to offshore betting, online gambling online casinos, poker or sports betting, all of which are not legal in California, it is likely that there is a much greater number of people in need that are not calling.
What are some of the challenges you’ve been facing in California specifically with problem gambling and CALPG?
Honestly, the largest problem in California, it’s an old story and an old hat... it’s just funding. One of my favourite statistics is that substance use disorder in the US is about 3.8x as prevalent as gambling disorders. So for every one gambler, there are 3.8 people suffering from a drug or alcohol addiction. Nationally, funding for substance use disorder is just under $382 for every $1 funded for problem gambling services. Thus, with a little bit of division, as much as everyone
hates math, you can see that substance use is funded at a rate of about 100-1 when it comes to gambling disorders.
California is fortunate that we have the largest budget for problem gambling services of any state in the country, until you remember that we have 43 million people and, on a per capita basis, we are in the bottom 20% of funding nationwide. Our challenge is always that we work really hard to do more with less. We’re very proud of the fact that we succeed at that.
about going to a casino and gambling responsibly or are we talking about playing a video game? That’s where some of that confusion is beginning to come from. I would say problem gambling and responsible gambling probably make more sense when you talk specifically about a casino. And from there, you need to create a separation.
We offer a statewide treatment programme and 20 different health services, prevention programmes, marketing, which is all available to those who need it at no cost. But at the end of the day, the programmes lack the funding to be broader and larger than they need to be. The public education that is necessary for
more people to seek help is again lacking the funding and we started this by saying that I’m citing data from a 20-year-old survey. Again, it’s an old hat, it’s just money, but that is definitely our challenge.
Something we’ve heard, especially at the IGA conference in San Diego, is that responsible gaming and problem gambling have become a tad confused in recent times, but how do these two initiatives help players in differing ways?
Absolutely. I would say it’s important to start by establishing the gaming industry utilises the word gaming, and as such, we use responsible gaming and problem gambling. Now, problem gambling is not the clearest terminology, but it is the clearest terminology that we have. A gambling disorder is being addicted to gambling. There is a lower tier of that where you’re being harmed by your gambling, but may have not developed the actual issues with brain chemistry that result in an uncontrollable urge to gamble.
The other confusion point here is people think that if you gamble responsibly, you’ll never develop a gambling problem. That’s not true. If you gamble responsibly, you will greatly reduce the odds of developing a gambling problem and, arguably more importantly, you will position yourself to recognise when you’re on the path to developing a problem sooner.
So the term responsible gaming starts to become confusing, because are we talking
“ Problem gambling is not the clearest terminology, but it is the clearest terminology we have ”
- Robert Jacobson , Executive Director, CALPG
Sooner progression
Gambling Insider Editor Tim Poole is joined by Oklahoma Indian Gaming Association Chairman
Could you share the latest tribal gaming updates to be seen in Oklahoma?
We continue to be, in my opinion, a leader in electronic gaming, especially Class II electronic gaming. We have 38 tribes, 33 are operating gaming facilities and we have around 134 gaming-specific properties in Oklahoma currently. But we’re also one of the jurisdictions that have yet to take on sports betting, so that has taken a lot of our time in the last couple of years trying to come to an agreement with the state on what sports betting may look like in Oklahoma.
Matthew Morgan to discuss recent updates within the state and look ahead to the OIGA conference
While we’ve seen a lot of our regional competitors be able to offer that to their players, in terms of what we’re looking at, we’re still digesting sports betting and these other forms of gaming as well that are proliferating across the country.
Have you had any interesting recent conversations with Oklahoma Governor Kevin Stitt perhaps...?
Not with the Governor, but we’ve had some really great conversations with members of the
legislature, Senator Coleman, Representative Luttrell and Senator Rader, who also drafted a sports betting bill this year. We’ve also had some conversations with additional stakeholders in the state of Oklahoma, both professional sports and collegiate sports in universities. What they would like to see, in terms of what sports betting may look like, are the stakeholders that need to be able to participate, while at the same time trying to talk with our law enforcement and tribal regulatory communities on making sure we’re doing the best job we can of keeping illegal activity out of the state.
We’re at IGA 2025, but later in the year we have the Oklahoma Indian Gaming Association (OIGA) tradeshow. What can you tell us about this year’s show and what we might be able to expect?
predictions markets and sweepstakes casinos, I imagine that’s something that takes up at least some of your time... It has. I think for a long time some of this activity has run underground in a way that a lot of folks in our industry weren’t taking notice. Over the last six-to-nine months, that’s really changed, especially in our tribal industry where we’ve worked really hard through the Indian Gaming Regulatory Act and negotiating with state governments to really set forth a legal gaming framework in a way that makes sense for everybody. Now, we have these new technologies that are trying to come in and up-end some of that and a lot of them, in our opinion, are just illegal ways to get around these agreements that have been very productive not only for our tribal communities, but for our state governments as well.
It’s perhaps the million-dollar question –not easy to answer – but how can tribal gaming effectively combat these new threats?
“They’re not only violating our tribal state gaming compact, but they’re also violating state gambling laws until we stand up and say ‘that’s enough of that’”
- Matthew Morgan, OIGA Chairman
Every year in Oklahoma we really look forward to this show. It’s where we get a lot of people that are in the gaming industry to come to Oklahoma and enjoy our hospitality. We’ll be in Oklahoma City again this year, 14-16 July at the Oklahoma City Convention Centre. It’s led by Mayor David Holt, who actually is an Osage tribal citizen, so he has a really good grasp on what we do and the benefits of the community.
We’ll have a strong educational session programme where we will look at not only what is affecting our tribal members in terms of the new federal administration, but also at the state level. Sports betting is going to take up a lot of our conversation space while also just looking at new innovations in our industry in general. There are new things out there we’re seeing through social media with the push for influences and marketing, and how are you distinguishing your property from your neighbour.
There have been a few topics discussed quite heavily this week in terms of the threats posed to native gaming and commercial operators, DFS 2.0,
That’s a great question. Something we already do in many different areas is work with our partners and really call upon those folks that we have relationships with to make sure everybody’s playing their role.
They’re offering these illegal activities in Oklahoma. They’re not only violating our tribal state gaming compact, but they’re also violating state gambling laws and until we stand up and say ‘that’s enough of that, there’s going to be some consequences,’ we’re going to continue to see a proliferation of these types of technologies that are always trying to look at new and innovative ways to approach the subject.
I don’t hold any grudge against folks that are trying to be innovative, we’re in that market also; but you have to do it in a way that is based on the laws and the regulatory frameworks that have been put forth.
A DEEP DIVE INTO SPORTS AGGREGATORS
Industry experts provide Gambling Insider with their insights and predictions for the sports aggregator market, including Odds88, GR8 Tech, Fincore and AIOdds
MIKE FORSLUND Head of Odds88
Mike Forslund is an experienced executive in the iGaming industry who – as part of the founding team at FanLeague – helped shape a social sports prediction platform that redefined fan engagement. During his time with Evolution, he played a pivotal role in the growth of its live casino product. Now, as Head of Odds88, Forslund drives the development of sports trading solutions.
IGOR KAUFMAN Head of Sports Business GR8 Tech
Igor Kaufman is the Head of the Sports Business at GR8 Tech, bringing over 15 years of experience in tech and deep expertise in AI/ML. Kaufman's aim as a Head of Sport Business is to drive the development of the company’s sports products, building the next-gen iGaming PaaS.
DAVID WATKINS CCO Fincore
ERIC WANG CRO AiOdds
David Watkins is Chief Commercial Officer at Fincore, bringing over 20 years of experience in the global online gambling industry, with leadership roles at LiveScore Group, Genius Sports and Oddschecker.
With over eight years of experience in the sports betting industry, Eric Wang excels in market analysis, user behaviour insights and data-driven marketing strategies. He has demonstrated strong performance in customer relationship management and team collaboration, striving to enhance client satisfaction and company profitability. He has a deep understanding of industry regulations and ethical standards, emphasising legal and compliant operations.
DO YOU THINK WE ARE STILL ONLY SCRATCHING THE SURFACE OF THE FUNCTIONAL BENEFITS THAT SPORTS AGGREGATORS CAN OFFER
DO YOU THINK AN OPERATOR BECOMES MORE OR LESS INVOLVED IN THE PROTECTION OF THEIR PLAYERS WHEN USING A SPORTS AGGREGATOR
- p a c ific
LEAD PARTNER
EVENT SPONSORS
WHEN IT COMES TO COMPLIANCE, DO YOU THINK OPERATORS WOULD BE RIGHT TO BE WARY OF TRUSTING A SPORTS AGGREGATOR TO HANDLE THIS KEY AREA
WHAT KIND OF LONG-TERM INFLUENCE DO YOU ANTICIPATE THE RISE OF SPORTS AGGREGATORS WILL HAVE ON THE WIDER GAMBLING AND SPORTS INDUSTRIES
THE INSIDERS
In every issue, Gambling Insider commissions guest columns and interviews with people at the heart of the gaming industry – to discover more about the challenges its leaders, pioneers and innovators face. These contributors form The Insiders
JOHN CONNELLY INTERBLOCK
HAROON CHOWDRY GAMBLEAWARE
VSEVOLOD LAPIN PLAYSON
NADIYA ATTARD ELANTIL
Alternative entertainment
Interblock Global CEO John Connelly discusses its upcoming Amuse game segment
You recently launched a new segment with your Amuse category. What gap in the market does that category fill, and how did you identify that gap in the first place? We were having meetings internally about innovation in the industry and where we can bring value. As we were preparing to take Interblock online, we were doing competitor analysis online and doing our internal research. We noticed there were hundreds of millions of players that were, in one form or another, spending their time on
amusement forms of gaming and, in some cases, even wagering both legally and illegally. But it caught our attention.
You look at some of the entertainment venues here in the US, like Dave and Buster’s arcades; there seems to be a whole demographic that wanted to have fun by playing games, but not as we perceived them in the gaming industry today.
So we began researching and we found there was a whole new demographic entering casinos looking for alternative forms of entertainment that were not necessarily on a casino floor, whether it be nightclubs, restaurants, bars, sportsbooks. We said 'there’s something there.' We created a couple of concepts, began talking to some trusted individuals within the gaming sector and the response was overwhelming. From there, we decided to very quietly begin to innovate and patent over seven different concepts, which we launched at G2E 2024.
The last time we spoke, John, you were telling us about how one of your next milestones was to take Interblock online. Now you’ve also got this new segment, how are you balancing both?
This is where we’re so excited because, as I say, one plus one in this case equals four. As we create Amuse games for the traditional casino sector... we’re taking those same products online, whether it be live streaming or graphical depictions on our remote gaming server.
All it does is take our online offering, which we’ve been preparing for and getting ready to launch in 2025, and expands that portfolio, just like on a casino floor. You would see perhaps a more traditional casino game, or hundreds of
"There seems to be a whole demographic that wanted to have fun by playing games, but not as we perceived them in the gaming industry today"
millions of people online that are playing other forms of gaming, that will now be able to wager on an amusement-style game as well. It’s going to be very complementary.
Where does Amuse sit in your online roadmap? When do you expect that’s going to be live?
From a traditional casino standpoint, we’re anticipating having the initial one or two products for Amuse released at the end of Q2, beginning of Q3, and then having a more broad scope of our portfolio available by the middle to end of Q3. At that point, where we can populate sections of floors on casinos, towards the end of Q3, beginning of Q4, we will take that same portfolio of products and launch them online before the end of the year.
Amuse is still fairly new. But, in the time since you’ve been working on it, what have been the most surprising things you’ve learnt?
One that sticks in my mind the most, I was talking with a couple of executives at MGM, and when we were having a meeting, they said, “John, it took you a while at Interblock to convince the industry that electronic table games were a new segment of gaming, because it looked like it crossed over into so many different ways to do slots and tables. Was it really something complementary, or was it cannibalising?”
They said, however, “Amuse, the reason we’re willing to redesign our floors [around it] is because it’s so blatantly obvious it will be a new wallet.” It will not be cannibalising a marble race game or coin pusher, or some of the many other types of games we’re coming out with. The industry’s convinced it will attract a different player onto their casino floor, which is what they’ve been looking for for years.
So, that’s been a little surprising; how rapidly what traditionally has been a very slow-moving sector has adopted Amuse and is willing to take such dramatic steps at such a pace. We believed in it. We just weren’t sure if the industry was going to believe. Now, it comes down to launching the products correctly and getting them to market.
Changing the narrative
GambleAware’s Director of Evidence and Insights, Haroon Chowdry, speaks with Gambling Insider to discuss the organisation’s latest study into the link between neurodivergence and problem gambling
What was the inspiration behind this study initially – how long has GambleAware been investigating the link between Neurodivergence and problem gambling?
Despite some largely anecdotal concerns – from treatment providers and people with lived experience of gambling harm –about the link between neurodivergence and gambling harms, there has generally been a lack of research on this in Britain. GambleAware first explored this in December 2022, commissioning a review of the evidence based on gambling harms among various groups, including people with disabilities or mental health challenges. In August 2023, we also published research on the links between mental ill health and gambling harms, which identified a clear link with ADHD. However, there has not been, until now, any largescale research project in Britain focused specifically on neurodivergence and gambling harms – making this particular project the first of its kind.
Could you please give us a brief overview of what the key findings are from the study, alongside the wider context of how this could inform the industry’s approach to harm reduction going forward? The research shows that neurodivergent people, particularly those with ADHD and autism, face an increased risk of gambling harm. Personality traits that may be more common among neurodivergent people such as deep focus, impulsivity and differences in risk perception, could play a role here. However, online gambling poses particular risks for neurodivergent people, as its immersive nature can make self-regulation more challenging. This has implications for how gambling products are designed and marketed.
If you were to pinpoint a particular finding (or findings) from this study you think should be the most important for gambling operators to consider when developing new products, what would it/they be? To reduce harm, gambling companies must ensure their products and advertising do not disproportionately target or exploit neurodivergent individuals. The industry should prioritise implementing clear and prominent health warnings and signposting to GambleAware’s tools and services, with research highlighting that our health warning messaging is significantly more effective than those being used in the industry. In addition, gambling companies should prioritise accessible self-exclusion options and features such as cooling-off periods to help disrupt continuous play.
From a broader perspective, in what ways do you think this study serves to highlight the fact that a one-size-fits-all approach to tackling gambling addiction is simply an ineffective method?
While we know gambling harms can affect anyone, we also know that some groups have additional needs – and that includes neurodivergent people. For many neurodivergent individuals, gambling may serve as a coping mechanism for other challenges such as social isolation, loneliness or financial stress – alongside the many additional potential stresses of day-to-day life. If support services are not designed with neurodivergent needs in mind, they risk being less-effective. A more tailored approach is essential to providing meaningful interventions.
As specified in the study, the final phase of the research will involve co-designing specialised resources
for gambling support services. Can you give us an insight into this process?
This phase will focus on developing tools and resources that can be used by gambling support services working with neurodivergent individuals. To ensure these resources are effective and inclusive, the researchers are collaborating with a range of experts from academia, frontline services and education programmes; as well as people with lived experience of gambling harm and neurodivergence. These resources will be centred on the needs and experiences of neurodivergent people who gamble.
A changing landscape
MediaTroopers CEO Shmulik Segal explains to Gambling Insider why the US market is moving into a new era of sportsbook affiliate marketing
While most US operators rely on affiliates to expand their reach and capture market share in a rapidly growing marketplace, challenges such as increased regulation, heavy taxation and high promotional costs have been driving gaming providers to diversify marketing channels to reduce dependencies and cut costs. But how can operators explore new marketing channels and grow into new markets while still retaining control over their costs?
THE MARKET’S LIFTOFF
The US Supreme Court annulled PASPA (the Professional and Amateur Sports Protection Act of 1992) in 2018, ending Nevada’s nearmonopoly on sports betting in the US. With every state allowed to legalise and launch its own market, the US sports betting market has been experiencing explosive growth.
Currently, over 39 states allow either inperson or online sports betting and seven have legalised iGaming. According to the American Gaming Association (AGA), Americans wagered over $147bn legally on sports across 2024, up more than 23% from 2023. Facing this huge growth spike in a
short time, betting operators had to hit the ground running and now look to capture market share as soon as new states are opened. As a result, most have reverted to third-party affiliate marketing as part of their launch strategy.
USING AFFILIATES TO HIT THE GROUND RUNNING
Marketing through affiliates is one way of covering territories quickly and reaching a much wider audience of potential customers. Affiliates provide operators with a costeffective, performance-based marketing model, eliminating the risk of investing millions of dollars in advertising campaigns. Leveraging in-house knowledge and technical expertise, affiliate marketing companies drive high-quality traffic to sports betting websites and apps consisting of prospective, interested bettors with high purchase intents.
Similar to many other online and mobile industries, affiliates became a significant part of the sportsbook’s marketing mix. This allowed operators to establish their brands quickly and scale efficiently, optimise ad spend and reach niche audiences while ensuring compliance with regulations, given many US regulators must also license those affiliates.
EVOLVING CHALLENGES
Despite the booming betting industry, US sportsbooks face significant cost challenges that increasingly pressure their profitability. These challenges begin with high taxation; New York leads with a 51% tax on gross gaming revenue, while Pennsylvania follows at 36%. Another significant cost is the licensing fees each state charges just for market entry. For example, Illinois and Pennsylvania regulators charge $20m and $10m, respectively. Considering that most sportsbooks operate in multiple states, it adds significantly to operational costs.
In addition to taxes and licensing, sportsbooks in the US spend sky-high marketing costs to capture and protect their market share in a rapidly growing but crowded industry. This starts with external marketing expenditures across TV, digital platforms, stadium advertising, sponsorships, etc and continues with high
welcome bonuses meant to entice new customers to sign up, as well as promotions and rewards to ensure the loyalty of existing customers.
While it is difficult to quantify the portion of these marketing costs that would also benefit an affiliate’s marketing efforts, this does mean, in essence, that the betting operator is paying for exposure that will later benefit the affiliate’s marketing efforts.
Driven by aggressive marketing spending, the cost per acquisition (CPA) a sportsbook will pay to an affiliate for a newly deposited customer could reach hundreds of dollars. Another model to remunerate affiliates is by revenue share, but these high costs force sportsbooks to balance growth with profitability.
This then means many operators look to reduce dependencies on affiliates by bringing expertise and resources in-house to cut costs. But how can that be done cost-effectively and without undermining growth?
FROM LAND GRAB TO SUSTAINABLE GROWTH
With fewer new states regulating sportsbooks and online casinos, more customers already have accounts on remote gambling sites and apps, and increased competition from established operators, the market has entered a new maturity stage. Providers must continue to grow and protect market share in a controlled, sustainable way.
Data is everything, therefore partnering with platforms that also provide real-time performance reports and data analysis powered by AI technology, will offer operators the most accurate overview of campaigns which is crucial when looking for that competitive edge.
Not only that, but systems harnessing machine learning and AI to build predictive models on customer behaviour to suggest future bids, bonus schemes and more, will give operators the best advice to optimise acquisition and retention strategies.
As US operators increasingly search for sustainability, technological diversification is the key to success. However, one thing is clear: affiliate marketing poses a low-risk, highreward solution to operators if they are partnered with dedicated experts. That is why many operators will still continue to rely on this channel.
Pushing for growth
Gambling Insider speaks with Vsevolod Lapin, Deputy CEO at Playson, to discuss LatAm, compliance, gameplay mechanics and more…
Online gaming supplier Playson has had a busy start to the year, with the company initiating a range of new partnerships over the course of the first quarter. Now, the organisation has its eyes firmly fixed on expansion. As part of this interview, Deputy CEO Vsevolod Lapin talks us through the supplier’s new partnership’s, alongside its
“I do see AIdriven automated compliance becoming essential, especially in complex markets like LatAm”
LatAm vision for the upcoming year. Further, we discuss the continuous evolution of compliance technologies and their growing role within the industry, the changing face of game mechanics and Playson’s plans for the year ahead…
Focusing on your recent LatAm-based KTO Group partnership, what can you tell us about the origins and aspirations of the collaboration?
Partnering with KTO was a strategic move rooted in shared values – commitment to regulated growth, player-centric experiences and quality content. As a well-recognised brand in LatAm and with a clear focus on Brazil, KTO provides the perfect platform to partner with as we look to build our regional presence.
Do you believe the emergence of AI could, in the near future, lead to growing forms of automated compliance in markets with diverse regulatory demands such as LatAm? Indeed, I do see AI-driven automated compliance becoming essential, especially in complex markets like LatAm. Regulatory bodies increasingly demand scalable, techbased solutions and AI provides the flexibility to meet varied requirements efficiently. In the modern market, gambling organisations have already embedded AI into their monitoring and escalation workflows. Markets like Brazil are setting the tone by embracing automation early, showing how smart regulation and advanced technology can work hand in hand to ease compliance burdens, and boost performance.
How do game mechanics compare as a component of creating a positive gaming experience in the modern industry, especially when compared to promotional tools?
Game mechanics are the foundation of any great player experience. While promotional tools help drive short-term engagement, it’s the core mechanics – like the flow, features, volatility and reward structure – that keep players coming back. At the root of it all, I believe truly compelling gameplay speaks for itself. When mechanics are thoughtfully designed, they not only entertain but also
"At the root of it all, I believe truly compelling gameplay speaks for itself"
enhance the impact of promotions. In the long run, strong mechanics build loyalty far more sustainably than bonuses alone.
In today’s iGaming market – how would you describe the importance of Hit the Bonus mechanics?
Hit the Bonus is a mechanic that’s quickly gaining traction across the iGaming landscape. It delivers instant bonus round activation through symbol combinations, giving players quick access to high-engagement features. Its growing appeal lies in how well it suits mobile devices’ play sessions – fast, rewarding and dynamic. While once niche, we now see the mechanic replicated across the industry, confirming its momentum. In the long term, I see Hit the Bonus as a scalable innovation –easy to localise, quick to adapt and highly effective in building retention across markets.
Overall, what can you tell us about Playson’s plans for the rest of the year and beyond?
For the rest of 2025, Playson remains focused on delivering high-quality games that offer engaging experiences. We’re expanding our portfolio with diverse themes and innovative mechanics, while accelerating our entry into newly regulated markets. Leveraging scalable and adaptive technologies helps us stay agile and responsive. Above all, we remain true to our commitment to the iGaming community as a whole to push for more excitement, more value, and more growth.
A re-imagined set-up
Nadiya Attard, Elantil CCO, speaks with Gambling Insider about its plans as one of the industry's new kids on the block, as well as compliance, crypto, AI and much more
It’s been three months since the official launch of the Elantil platform – how do you reflect on both your personal progress as CCO and the company’s progress during that time?
I think the growth we’ve experienced in these first three months has been nothing short of fantastic. In virtually no time at all, we’ve significantly expanded as a team and attracted over 1,000 new followers on LinkedIn in the first two months. We also formed a number of key supplier partnerships in this time. There are other things that are harder to quantify than raw numbers that have really stood out to me on a personal level. For instance, the amount of positive feedback we’ve received has been great.
In an area as sensitive as compliance, how do you balance offering ease of entry into a new market for operators while also retaining an element of both security and flexibility? Compliance is obviously a very important part of our strategy, but right from the get-go
we wanted to couple this robust regulatory integrity with a back-end that makes it easy for operators to enter new markets and customise their offerings. When I started nine months ago, my first comment was that we need to hire more compliance experts to be considered as a serious player in the regulated markets space. Currently, Elantil is in the process of doing GLI and ISO certifications. Our team is also working very hard on establishing which markets will be important for us to enter next, but for the ones where Elantil is already live, our customers can configure their casino, sportsbook or poker platform offering in a few clicks.
Do you think crypto casinos are going to become increasingly commonplace in the gambling industry and – by extension – a natural sector for iGaming software providers like yourself to explore partnerships and expansion?
This is definitely an area that’s very interesting for Elantil – and it’s one that we’re set up to explore going forward. While the crypto market for iGaming is quite nuanced and perhaps not so straightforward for a lot of outof-the-box solutions to tap into, the technology Elantil uses makes it very suitable for expansion within this sector. Crypto casinos have very specific technical requirements and based on our customers’ and prospects’ feedback, there is no platform that can provide such functionalities, which are required. Some platforms do it close enough, yet things are missing. When we developed our platform, we didn’t want to just provide a solution for the here and now, but rather one that could anticipate the evolution of our industry and proactively prepare for change before it happened. Having this flexibility built into our platform means crypto casinos will certainly be an area we’ll be exploring more in future.
AI has helped skyrocket iGaming personalisation techniques through new gamification and other related features – but do you feel AI has influenced sports betting personalisation in recent years?
AI has definitely become a major part of the iGaming industry and knowing where and
when to use it efficiently is one of the things that separates the progressive platforms that are successfully adapting with the times from those that are standing still. Funnily enough, I think sports betting personalisation is actually one of the areas where AI can have the most impact, simply because of the huge amount of real-time data that’s available to sportsbook operators. We’re already starting to see the effect of that personalisation in the form of tailored bet recommendations based on the sports, teams or markets players are interested in. Elantil’s real-time data platform makes it easy to access this information and leverage it for the greatest possible benefit.
Having secured recent partnerships with Alea and Altenar, what kind of changes do you hope Elantil can make in the wider gaming industry over the next few years?
We’re not looking to just offer an update on existing platform solutions but instead bring something completely new to the table. Our aim is to redefine the current relationship between operators and suppliers. The goal for 2025 is to integrate 50 more suppliers. For next year, the portfolio should be around 150 suppliers available to choose from. Our setup is very different – Elantil is an added value service. We are also tired of the fact that operators are being overcharged for everything and, since we can cover the cost, we decided to see the bigger picture here and take it on ourselves.
“I think sports betting personalisation is actually one of the areas where AI can have the most impact”
The most
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WHAT’S NEW ON THE MARKET?
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FINAL WORD
Neosurf Global CEO Andrea McGeachin sits down with Gambling Insider to discuss non- at payments, global compliance, future innovation and more discuss
With alternative payment methods on the rise, where do prepaid vouchers like Neosurf fit into the evolving iGaming payments landscape?
While prepaid vouchers are a key component, we are not solely a voucher company, nor do we offer anonymous transactions. Every Neosurf transaction is traceable and our digital wallets deliver a smart and easy way for players to deposit and receive payouts. Our position has always been to think about the player and their needs and then match that to the needs of the operator, which includes supporting their best interests by offering alternative payment methods. With so many digital wallets out there we don’t claim to be biggest, but we do claim to address the cash users that still form a huge part of the payments ecosystem.
What challenges do iGaming operators face when integrating new payments solutions in these regions, and how does Neosurf help navigate regulatory complexities?
Our API is a simple tool to integrate with, so payment service providers and operators can get up and running with us very quickly while also being supported throughout the onboarding process. The support we offer is well known within the industry and our account managers are always there to assist with smart classification of players, be they cash users or those wanting to use a dedicated digital wallet. We take accountability and responsibility for our role and once an operator integrates with us, they can see the difference and know we won’t let them down.
How does Neosurf ensure AML and KYC compliance across multiple jurisdictions while maintaining a frictionless payment experience? This largely comes down to configurations.
We use something called a “single source of truth” internally – which brings our policies and procedures into one common path for maintaining data scrutiny – and then customise this output for the operator based on jurisdictional requirements. Our fraud team uses advanced AI to make spotting complex patterns simple and, as a result, we’re able to provide clients with incredibly detailed insights very quickly. We also work with the best local compliance teams in different jurisdictions so that our offering is tailored for each market.
What emerging trends – such as open banking, crypto or biometric authentication – do you see shaping the future of iGaming payments, and how is Neosurf adapting?
Crypto is obviously not going to go away and, as a payments company, we have to be very careful that we’re not giving people a platform to take their cash, turn it into crypto and spend it without any kind of control. Biometric authentication, meanwhile, is something we have to have, but the emergence of deep fake AI means sometimes fraudsters can be one step ahead of us. With this in mind, we take a cautious approach to both and try to work with partners who can help us stay ahead of the game, by constantly upgrading their offering so that we’re not always re-integrating.
Is there a particular area or type of iGaming offering in which you can see a sharper rise in demand for alternative, non-fiat, payments?
The online gambling sector is still at the early stages of a transformation, particularly in how non-fiat payments are being adopted within online casinos and esports betting. At Neosurf, we work directly in the gaming space
with our Digital Cash by Neosurf product. Non-fiat payment options – particularly cryptocurrencies – are increasingly appealing, and, interestingly, digital wallets are now also being grouped into this category. While it is surprising to see digital wallets categorised this way, let’s go with it. After all, a digital wallet can support both fiat and non-fiat transactions, empowering players with the freedom to choose. Moreover, the integration of blockchain technology within gambling platforms introduces a new level of transparency and trust – critical factors for building and maintaining player confidence.
What do you believe is the best way for payments providers to ensure continuous, industry-wide advancement in alternative payments security for customers?
We live by the statement: “Imagine a payments company that does something different.” We believe the entire payments industry should evolve with this mindset. Last September, we launched The Compliance Handshake by Neosurf – an initiative designed to encourage collaboration among payments companies. My personal passion lies in seeing payments providers truly integrate into the sectors they serve. In gambling, this means providing players with tools that support responsible spending, and collaborating with operators to meet increasingly complex regulatory requirements. If a payments company wants to stay relevant and grow in this sector, it must consider why it’s here – and then deliver accordingly. This means working closely with both players and operators, across all jurisdictions, to provide value, transparency and security. That’s how we can collectively drive meaningful, secure and sustainable advancement in alternative payments.
