INSIGHT
IGAMING COMPLIANCE NORTH AMERICA
Maria Cobos Head of Compliance, USAbility
Te potential of the US opportunity has not been overstated, but as we have seen in recent years, it is not without its challenges. As more states open up, often with little regulatory uniformity with existing regulated states, the burden on operators to ensure they are compliant increases exponentially.
Both operators and suppliers need to be permanently aware of consistently changing regulation, not only at the level of gaming regulatory bodies, but also at state and federal levels, which includes essential factors like AML, taxation on players’ winnings and responsible gambling programmes to name but a few.
Ten there are the continually evolving technologies being applied to igaming, for which further regulation needs to be devised, as well as ongoing audits and risk responsibilities that need to be carefully considered with regards to both federal and state requirements.
Te most promising approach to streamlining these processes is to have state regulators working in conjunction with each other. We are seeing moves towards such cooperation with the conversation becoming more common on industry webinars. Tis will hopefully translate to inter-state regulation that is more in sync, allowing operators to roll out across different markets more easily.
Promising moves off the back of these conversations have seen regulatory bodies of newly opening states inviting operators and suppliers to contribute their thoughts and opinions while regulations are being created.
Tis strategy was recently implemented in Massachusetts and has yielded positive results across other new states and jurisdictions. Tis period of formal consultation with licensees was successful in producing efficient and effective requirements for regulators and industry service providers.
Tese are welcome developments and the US regulating in a more intuitive manner is a highly desirable destination, but in the meantime, it is vital that operators remain compliant. Tis is easier said than done as they face increasing pressure as they continue to scale.
In an ever-changing and complex environment, operators often have limited resources available to progress market opportunities and sustain BAU operations.
“The most promising approach to streamlining these
processes is to have state regulators working in
conjunction with each other.
We are seeing moves towards such cooperation with the
conversation becoming more common on industry
webinars. This will hopefully translate to inter-state
regulation that is more in sync, allowing operators to roll out
across different markets more easily. Promising moves off the back of these
conversations have seen
regulatory bodies of newly opening states inviting operators and suppliers to
contribute their thoughts and opinions while regulations are being created..”
Maria Cobos, USAbility
Consultancies like USAbility provide industry- leading compliance expertise across multiple jurisdictions, verticals and channels with a wealth of operational compliance delivery and support experience.
We support our clients in both delivering a proven methodology to efficiently expedite compliant market entry and effectively scaling complex compliance operations. Such services are key to ensuring both operators and suppliers are in the best possible place to take advantage of more hospitable regulation when it arrives.
P74 WIRE / PULSE / INSIGHT / REPORTS
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