Episode 2: Benefits of a more regulated gaming scenario
The second episode of the series “LATAM: Technological and regulatory focus” will concentrate on the regulatory and legislative aspects and its benefits for the iGaming and betting industries.
In recent years, the number of countries that have adopted their own gambling regulatory frameworks is on rise and regulations are seen to be of crucial importance, as they provide benefits for all parties involved in the gaming environment. In this perspective, operators, suppliers, and consumers can see significant progress from effective regulatory frameworks as they help to build a safer form of entertainment.
Today there are hundreds of online casino and gaming operators but the gambling regulations vary from country to country.
In the iGaming industry, Latin America is one of the fastest growing regions, with many countries showing great potential for growth. This potential is further being underlined with countries like Colombia, Peru, Mexico, Brazil and Chile all putting local regulations in place with the help of which gaming operators become even more interested in starting or expanding their businesses in the region.
A more stable, safe and trustworthy gaming environment
A more regulated scenario surely presents operators with a wide array of benefits including safety, stability, and trustworthiness. A strong regulatory framework includes:
- Proper operation on interactive games
- Protection of players
- Prevention of money laundering
- Protection of public interest
However, although regulated markets guarantee the above-mentioned advantages, they can present a complex framework for the operators in which to operate. Having this in mind, operators should seek to work with a strong technical partner who offers gaming solutions that are compliant with the regulatory necessities of the market where they intend to operate.
An advanced technology as a winning strategy
Constantly monitoring the evolving regulatory scenarios and changes in legislation is imperative for gaming operators who seek to maintain growth to their businesses in a safe environment. However, the technological aspect in terms of adapting to the new regulated gaming and betting scenarios also has an important role. Numerous gaming operators are in search to implement a gaming platform that is easily adaptable to different local jurisdictions.
Implementing a multi-jurisdiction platform compliant with strictly regulated markets, and modern software technology that is scalable and adaptable to different players’ needs and demands is the key to succeeding.
We have come to an end of the second episode. Stay tuned for the next episode which will focus on the LATAM regulatory scenario.