Promoting regulatory compliance and best practices

In many ways, regulatory compliance, licensing requirements, adhering to marketing guidelines or enforcing strong player protection guardrails are the core pillars of the online gambling industry and how it is portrayed in the media and within its own ranks.

Indeed, whether it comes from critics in the mainstream media or the executives working with the largest operators around the world, the industry is mainly described as fast-paced and fast-growing, and from its opponents, as making much of its business from players who might be at risk of developing problematic gambling issues.

But those negative scenarios are also why it is so important for igaming companies to establish strong and consistent compliance cultures among their teams, reinforcing best practice and ensuring those internal policies act as robust foundations to the long-term success of our industry.

There are a number of benefits to adopting regulatory compliance best practices: 

• From a business perspective, having a player base that is largely made up of recreational and versatile players allows operators to develop sustainable and stable business models that are less volatile and more focused on long-term profitability.
• From a reputational standpoint, it shows the industry protects its players and closely monitors them to ensure there are no spikes in deposit levels, screen time or speed of play.  
• Sharing best practice: companies that embed compliance into their core operations share best practices across all departments and help spread the word by engaging with regulators and colleagues in different companies.

Technological advancements in compliance

Artificial intelligence, real-time monitoring and predictive analytics that help identify potential risks are key features of operators’ and suppliers’ responsible gambling toolkits, enabling them to leverage the power of tech to advance regulatory compliance and player protection targets.

These technologies also play a key role in enabling operators to balance business goals and promoting safer gambling environments for their players; by combining scale and engineering power with a human touch they allow compliance teams to assess and assist players in real time, while improving their player journey experience and enhancing engagement with the operator.

This is evident in Don.ro, Soft2Bet’s flagship brand in Romania. As an online betting and casino brand, Don.ro is committed to providing a safe, secure and fair gaming experience for its users. Ensuring regulatory compliance is essential to maintaining the brand’s integrity and success.

The Romanian market has a particularly rigorous regulatory regime that mandates not only strict adherence to anti-money laundering (AML) and responsible gaming practices but also requires extensive reporting and transparency measures to be implemented within a short timeframe. The challenge was, as always, to ensure full compliance while maintaining Soft2Bet’s, and specifically Don.ro’s, high standards of user experience.

The cross-functional compliance team had to address these challenges to ensure the brand adheres to all AML policies, KYC (know your customer) procedures as well as responsible gaming procedures and policies to meet the local Romanian requirements. To streamline compliance processes, the team engaged in open communication with the country’s regulator (ONJN). By establishing a transparent relationship, Don.ro could ensure its compliance efforts were aligned with regulatory requirements and expectations, and any potential issues could be addressed proactively and within a timely manner.

As a result of these efforts, Don.ro successfully launched its operation in Romania and is currently active in the market, gradually gaining market share while ensuring strict compliance with all regulatory requirements. The brand not only complies with the local laws but also exceeds the required standards, which earned positive feedback from regulators and enhanced its reputation among users. This success story reinforced Soft2Bet’s commitment to regulatory excellence, demonstrated the value of proactive compliance management and was recognised in the industry through awards such as EGR Nordic Awards, EGR B2B Awards and others.

Moving the regulatory times

Working on these policies is key to the future of the igaming industry as regulatory expectations continue to increase around consumer protection, responsible gambling and fair implementation of terms and conditions. Regulators and lawmakers expect them to be acted upon by the industry and, as cross-border organisations such as the EU analyse more stringent data privacy laws, new technologies and the impact of societal changes on gambling regulation.

As a major igaming group, Soft2Bet is committed to these policies and its focus on regulatory compliance and comprehensive player protection measures will continue to be integral pillars of its growth strategy.

Ohad Straschnov is senior compliance director at Soft2Bet, where he leads the group’s compliance and regulatory projects that have seen Sof2Bet obtain licences in countries including Italy, Greece and Romania in the past 12 months. Straschnov joined Soft2Bet in 2023, bringing with him experience gained at DraftKings, SBTech and 888. Together with his teams, he engages in daily, in-depth discussions focused on operational, legal or contractual issues linked to regulatory compliance, market expansions, licensing processes and acquisitions.