Sportsbook provider Altenar has reaffirmed its commitment to regulated markets after getting licensed by the UK Gambling Commission (UKGC).
As well as obtaining a gambling software licence, the company has also been granted host licences for real and virtual sports. The combination of authorisations will allow it to offer both its software-only package and its fully managed sports betting platform to UK operators.
Stanislav Silin, CEO at Altenar, said that although the licensing process was extensive and took longer than anticipated, it was an essential step for the company.
“The UK market has set the standard for other regions,” he said. “It has a very solid regulatory framework, which independently licenses suppliers and operators and therefore gives confidence to all participants in the ecosystem that services are of a certain quality, standard and robustness.
“We are proud to have been granted a licence in such an important market. Some of the world’s largest bookmakers came out of this environment and it continues to be one of the most significant in the global gaming landscape.
“The UK market is undoubtedly very competitive and demanding, but we believe there is room for a sportsbook provider with state-of-the-art software, 24/7 risk management, trading and business support, and a strategy of acting not just as a provider but also as a business consultant to our clients.”
This is the third licence for Altenar after the company obtained a B2B licence from the Malta Gaming Authority (MGA) in April 2019 to follow one from Romania’s Oficiul National pentru Jocuri de Noroc (ONJN) in September of last yeamework that is helping the business, rather than penalising it a B2B sports betting provider that would support a multi-tenancy, multi-channel, multi-jurisdiction service. It was built that way from scratch using the latest technology and specification.
It is definitely a challenge to satisfy several regulatory requirements at the same time, however these are the demands of the modern era.
A good internal analysis, alongside an excellent cooperation and working relationship with each and every one of our operators, made it easier for us to comply. For the benefit of the readers, I would claim that still Italy is the hardest, followed by Sweden.
SBC: What are the key things you’ve learned from 2019 so far?
DS: Altenar in 2019 is going through a major upgrade and investment plan that will pay off over the next 10 years. The ‘lesson’ to learn is not something unique or new, and is simply related to basic business rules that everyone should never forget.
Focus in the plan is the major thing to ensure. Combined with good people retention and acquisition, Altenar has great weapons to continue its strong presence in the market.
SBC: Finally, can you share with us any growth plans for the rest of the year?
DS: As I mentioned above, Altenar is going into a major upgrade and investment. In terms of technical, human resources and facilities infrastructure, this will soon allow us to enjoy a worldwide presence.
At the same time, we invest in the relationship with our partners worldwide and we value their feedback that helps them to grow. Their growth is our growth, so for this reason they always get priority.
Usually this question is mainly to explain the regional target we have, but I would mislead the reader if I said our focus is confined to Europe, LatAm or Africa. However, in reality our growth is likely to come from those regions – and probably in that order.
Altenar had a radical approach going into Colombian business. When we signed the agreement with Wplay, it was a long workshop and analysis of how to create a sportsbook that is directly applicable to the average Colombian user.
Written by SBC News
