In an interview with CasinoBeats.com, Simon Dorsen, director of gaming at Okto Group, has claimed that ‘regulation will be where the buck starts and stops’ in 2020.
Discussing the importance of paying attention to the regulatory hurdles throughout the coming year, Dorsen delved into Europe’s regulatory framework, particularly to suggest how different licenses are required to limit the movement of funds between retail and online.
The director of gaming stated: “As ever, regulation will be where the buck starts and stops, and the importance of paying attention to regulatory hurdles in 2020 should never be underestimated by operators. Europe in particular is a true patchwork of regulatory regimes. Separate licenses for online and retail that limit movement of funds between the channels are essential.
“This is none more so the case than when it comes to AML and KYC procedures. Gaming operators who are scrambling to solve these solutions themselves would do well to invite an expert to provide the answer for them. By bringing in an already certified solution, you’re good to go across multiple markets with a ready-made provider that already has the required regulatory approval.”
As well as advising gaming operators of the benefits that could be provided via the inclusion of experts in 2020, Dorsen concluded by looking back on 2019 and discussed some of the technological advancements that will shape the industry moving forward.
He added: “It’s been a great year for new technology, especially when it comes to mobile gaming. The wallet revolution is already mainstream and gaming and betting operators are becoming increasingly interested in understanding how they can leverage our OKTO.WALLET to streamline operations and minimise costs.
“When it comes to the customer, we’re seeing a rapid uptake. Mobile transactions already account for 54 per cent of digital payments in Europe and are growing globally by 10 per cent. With technology advancing at an even quicker pace than adoption, payment solutions are offering a whole new level of convenience for customers dedicated to reducing friction in gaming transactions.
“Fast payouts build brand trust with the player, driving repeat betting, visitation and deposit ratios, and I’m looking forward to seeing operators continuing to capitalise on that in 2020.”