Keeping up with ongoing changes to regulations in iGaming can be a difficult task - and the dangers of failing to do so are serious.
Ensuring your betting products are aligned with gambling laws in your territory of business is vital and that is why having Altenar on your team can make a big difference.
Here we explain how the compliance expertise of our experienced team ensures Altenar’s products and solutions stay onside when it comes to betting regulations.
How licensing and compliance support works
Altenar takes its compliance responsibilities very seriously. In a highly-regulated industry such as iGaming, such a commitment to compliance is non-negotiable.
As a global company, Altenar’s compliance team assists clients in navigating a wide range of markets which vary in complexity, while the team adjusts products to meet local regulatory requirements.
The team has the soft skills needed to succeed in many different regions of the world and our diverse workforce speaks multiple languages, including English, Spanish, Portuguese, Polish, Russian and Greek. The team collaborates with all departments, tackling compliance from various angles.
Our client-focused approach to compliance means the team goes the extra mile to meet the needs of our customers, and responding quickly to requests means around-the-clock availability to nurture relationships.
Problems licensing and compliance support solves
Gambling is one of the most regulated industries in the world, with strict rules in place in most countries to protect vulnerable people from harm, to prevent crime and ensure fairness.
Technical standards must also be met and betting technology is tested to maintain integrity and promote trust from players.
Failing to comply with the regulations can be disastrous for iGaming companies. Non-compliance can lead to penalties of varying consequences, ranging from fines through to the revocation of a licence, while individuals can also face criminal charges.
Avoiding these pitfalls is essential and as regulations are introduced and tightened in many different markets, remaining compliant is more important than ever.
Benefits of licensing and compliance support
Altenar’s proactive approach to licensing has clear benefits for both the company and our clients, with our team of experts having a good understanding of the regulatory requirements of each jurisdiction.
This can significantly reduce the time needed before an operator is ready to go live, which can make a valuable difference in getting ahead of the competition and growing your brand.
Altenar’s team continues to monitor changes to the betting landscape around the world and act quickly when new opportunities arise. Being one of the first companies to register an interest in becoming regulated is important to get ahead further down the line, and this has been witnessed recently in markets such as Peru, Denmark and Ontario.
Comparison with competitive solutions
Altenar has a proven track record when it comes to licensing and ensuring the technical compliance of our products, and it is one of the areas in which the company stands out from the competition.
The team is driven by finding solutions and our forward planning goes a long way to ensuring any potential problems are anticipated and dealt with before becoming an issue.
We engage closely with regulators to understand the needs of the market, while sports integrity is important to Altenar too and we are in communication with regulators such as the IBIA to ensure full transparency.
The high standards which we operate by are also applied to our providers, and undergoing due diligence before any integrations ensures we continue to meet and exceed all requirements.
Conclusion
There are many different aspects to remaining compliant in the modern world of iGaming. Areas such as anti-money laundering, responsible gambling, data protection and testing of systems all play an important role in ensuring your betting products are legal and protect both consumers and your brand.
Working with a trusted company like Altenar has numerous benefits - get in touch to learn more.
