SBC SUMMIT PREVIEW
Scaling an iGaming business in a highly regulated market
Scaling an iGaming business is likely to be challenging whatever the context, but the task becomes particularly complex in highly regulated markets. By Alex Green, Vice President Games, ZEAL.
field that enables businesses to compete. By committing early to compliance as a core capability – not as a tick box – companies can build sustainable growth models. In Germany, for instance, strict advertising limits, responsible gambling measures, and technical standards are non-negotiable. Rather than trying to work around these requirements, we embraced them.
BUILDING SCALABLE COMPLIANCE
To scale in regulated markets, compliance cannot operate as a silo, instead compliance must be embedded into the heart of the business, for example strategic processes, delivery of plans and the monitoring of performance. Automation plays an increasingly central role in compliance, from KYC and AML procedures to real-time monitoring of player behavior, where digital tools reduce manual effort and make compliance efficient.
LOCAL EXPERTISE, WITH A CLEAR REGULATION VISION Each regulated market comes with its own requirements, tailored to nuances of the local market and the vision of the regulator. Success therefore requires local expertise and market understanding.
Alex Green, Vice President Games, ZEAL
t ZEAL, we know this first-hand: Germany is one of Europe’s most tightly regulated gambling markets. In 2023, our subsidiary LOTTO24 AG was granted a license to offer virtual slot games, and since then we have been expanding successfully, despite the tough regulatory environment. The journey has taught us valuable lessons about how to balance the priorities of both license compliance and growth.
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REGULATION AS A FOUNDATION It is easy to see how regulation could be perceived as a barrier to market entry or growth. However, when a regulatory framework is set appropriately for a given market, it can provide the foundations for long-term success. Clear and appropriate rules bring legitimacy, ensure consumer protection, and create a level playing
26 SEPTEMBER 2025 GIO
There are certainly opportunities to improve regulation in Germany. For example, the current process for individual game approvals is very slow. We also encourage the review of any regulations or laws which are misaligned with the opportunity for responsible and sustainable market growth.
CUSTOMER TRUST AS THE GROWTH ENGINE
A key success factor in regulated markets is trust. Regulation typically ensures a safer gaming environment, but it’s the operator’s responsibility to translate that into customer confidence. Transparency in terms, clarity in product offerings, and visible commitment to responsible play build the trust that drives sustainable growth.
It is also important that operators and the regulator can trust each other, ideally having open dialogue and are able to provide feedback and proposals for improvement.
LOOKING AHEAD
The future of iGaming will likely continue to be shaped by regulation. Markets from Europe to North America are tightening frameworks, and only those operators who see compliance as a growth enabler will thrive. Scaling successfully requires three things: 1. Embed compliance at the core – not just as an obligation but as a driver of innovation.
2. Invest in scalable systems and teams – so growth never outpaces regulatory capacity.
3. Build customer and regulator trust through transparency and responsibility – the true differentiator in competitive markets.
At ZEAL, our experience in Germany shows that even in one of the most restrictive environments, it is possible not just to operate, but to scale and succeed. With the right mindset, systems and processes, regulated markets are not a hurdle – but the future of a sustainable iGaming industry.
ABOUT ZEAL
ZEAL introduced online lottery to the German market more than 25 years ago and has since become the market leader for online lotteries in Germany. ZEAL develops and markets online games, offering entertaining digital experiences directly to customers through its B2C platform and providing content to distribution partners via its B2B brand, Zeal Instant Games.
ABOUT ALEX GREEN Alex Green is a proven performer in the
games industry and has been responsible for the ZEAL games business unit since 2024. Prior to joining ZEAL, Green has spent the last 20 years in various roles for the UK National Lottery, working for the previously official operator Camelot, and the recently new official operator, Allwyn.
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