Vixio is a regulatory intelligence solution provider that equips some of the leading brands in the world with actionable regulatory intelligence. It recently unveiled a new online Casino Compliance Tool. This tool will help to reduce the research time of operators and suppliers for new products and markets. It gathers all technical requirements for operators and providers of US online casinos. This saves them from hours and hours of manual research.
Compliance tool for four US states
In North America, the tool will cover regulations in four different U.S. states. These include Michigan, New Jersey, Pennsylvania, and Connecticut. For example, Michigan online gambling sites can use the tool to stay compliant and mitigate regulatory risks.
The launch of this tool by Vixio comes in response to customer needs and results from customer feedback asking for a solution to technical requirements. The industry is evolving rapidly, and staying compliant is becoming more complex and urgent than ever before. There is an increasing need for compliance teams to ensure product and regulatory compliance.
Support for suppliers
The Compliance Tool supports online gambling operators, regulators who set the standards, and game content developers. It is hard for them to stay current with the gambling regulatory landscape as it keeps changing and still supports strategic growth objectives. Speed-to-market is becoming more important than ever. Compliance teams are under pressure to act quickly and avoid errors at the same time. An innovation in business like this tool can help them accelerate the development of new games and stay compliant.
Compliance in the gaming industry isn’t straightforward
Online casinos that don’t comply with regulations can risk huge fines. They need to have compliance programs that help prevent online fraud. This includes conducting due diligence about customers and verifying their identities. Fraud, identity theft, and bonus abuse are some of the risks that come with playing at an online casino. Regulations are also evolving to identify and protect vulnerable players.
Regulatory compliance helps to ensure a safe and fair gaming industry. It safeguards a level of trust and integrity across the industry. The importance of auditing is to ensure that financial information is presented fairly and accurately. Proper regulations and standards are essential in the world of finance. This is also necessary in the high-risk online casino industry. Casinos that do not protect the confidential information of players risk fines for non-compliance and damage to their reputations.
Confidently expanding into new markets
Regulations and technical requirements can vary in different jurisdictions. This tool allows customers to capitalize on opportunities to enter newly regulated markets. It initially covers regulations for 26 jurisdictions in Europe, four North American states, and Latin America. The tool offers source references in original languages and English translations.
A comparative view of over 65 critical technical requirements can affect the development, deployment, and certification of online casino games across regulated markets.
When Vixio’s customers expand into new markets, they have the confidence that they have the most comprehensive and up-to-date regulatory intelligence tool at hand. Compliance teams can meet the challenges that come with stricter requirements on game design at the same time as North American markets offer new opportunities for operators and suppliers to grow their business.
