President of Uruguay announces new 5-star hotel casino construction project in Rocha

As the gaming industry shifts from traditional casino floors to online platforms, the associated risks have also evolved. Where once the concerns were about earplugs and counterfeit chips, the digital era now faces threats such as denial of service attacks, advanced hacking techniques, and user account fraud.???

That is why security is a paramount concern in the iGaming industry, where large sums of money are transferred daily across borders and platforms. As Ariyo Aboumahboud, Chief Business Development Manager of Infipay Tech, highlighted during a recent interview at SiGMA Asia, “The most important thing in the fintech, in the iGaming, is the service, can legally work and be stable.”??

Infipay Tech, a payment service provider, is keenly aware of the risks associated with iGaming transactions, including scams, fraud, and money laundering. To mitigate these risks, the company has implemented several security measures. Aboumahboud explained, “What we had provided was manual KYC checking, but now we are moving to the automated verifiers, KYC. As well as we have encrypted data to secure the data using the machine to analyse the pattern of each transaction [and] to decrease the possibility of any fraud activity, any suspicious activity.”   

The fintech industry is evolving unprecedentedly, with technologies like cryptocurrency, blockchain, and artificial intelligence (AI) at the forefront of this transformation. Aboumahboud believes technologies will soon dominate the financial landscape, especially in sectors like iGaming. “Fintech, same as all the technology, fintech industry is growing very fast, faster than what we expected. Everything is moving forward to the crypto, to the blockchain. I believe in five years nobody uses cash anymore. Everything goes to crypto, safe, fast, and secure,” he predicted.??

Infipay Tech is already preparing for this future by integrating AI and machine learning into its services. These technologies are being used not only to enhance security but also to improve the efficiency and user experience of their payment solutions. Additionally, the company is expanding its services to include cryptocurrency, allowing merchants to easily convert fiat to crypto and vice versa, further simplifying the payment process.  

A key element of Infipay Tech’s strategy involves forming partnerships with local banks across Southeast Asia. These partnerships not only help the company navigate the complex regulatory environments but also bolster the security and reliability of their services.   

Aboumahboud underscored the importance of these relationships, stating, “The partnership with the banks, with the local banks and the local providers and agents, is the most important part of our business because we need to look for a bank that can trust us. It allows us to provide better services, to provide the safe service for the merchant.”???

The Swedish Trade Association for Online Gambling (BOS) and the Spelinspektionen?have reacted to the Swedish government’s proposal to shut down Casino Cosmopol, the nation’s last state-owned casino. The state memorandum, backed by Sweden’s Conservative Coalition government, seeks to diminish state involvement in gambling operations.

BOS has expressed a mixed reaction to the government’s initiative. While the association supports the government's decision to end state-operated casinos, it advocates for legalising private land-based casinos. Currently, private land-based casinos are prohibited in Sweden, and the government’s proposes to maintain this prohibition.

Gustaf Hoffstedt, Secretary General of BOS, articulated the association’s position, stating, “Land-based casinos play a very small role in terms of their turnover, but they still have a function in the overall ecosystem of the gambling market. In addition, they fulfil a function for Sweden as a tourist country and to deter illegal gambling clubs. We propose that the government, at the same time as they close their own government casino, open up for private companies to offer land-based casinos in Sweden.”

BOS argues that private operators could offer a legal alternative to illegal gambling and contribute positively to the gambling market, stating: “We are convinced that private companies can operate land-based casinos in Sweden profitably, without compromising on strict regulations regarding, among other things, consumer protection and money laundering.”

The trade association concluded: “It is surprising that a government with such a strong representation of liberal values and belief of individual rights, finds it so easy to ban casinos.”

The Swedish Gambling Authority, Spelinspektionen, has also pointed out potential issues arising from the closure. Although the authority did not oppose the shutdown of Casino Cosmopol, it cautioned that closing the casino could lead to increased illegal gambling.

However, the proposal has garnered support from members of the Conservative Coalition, who question whether Svenska Spel, the state-owned gambling operator, should continue to manage a loss-making casino unit.

The charity GambleAware has published today, 21 August, its Annual Treatment and Support Survey focused on the scale of gambling harms affecting children and the enduring impact of problem gambling on former gamblers. The research, conducted by YouGov, estimates that up to 1.65 million children in Great Britain are living in households where an adult is struggling with problem gambling.

The survey, which included responses from over 18,000 participants in Great Britain reveals that children exposed to gambling in their homes are four times more likely to develop gambling problems themselves in the future. According to the survey, this comes from early exposure to gambling, coupled with the normalisation of gambling through advertising and accessibility.

Dame Rachel de Souza, Children’s Commissioner for England, reacted to GambleAware’s publication:?“I welcome the increasing recognition of the harms caused by gambling as a public health issue and a serious one. GambleAware’s latest report demonstrates that there are millions who are at risk and that more needs to be done to protect them.?As Children’s Commissioner, I want to see far more attention given to the impact of gambling on children and young people.”

The survey found that 61 percent of adults in Great Britain engaged in some form of gambling in the past year, equating to approximately 31.4 million people. In the last four weeks alone, 47 percent of adults (about 24.2 million) reported participating in gambling activities. There has been a slight increase in the participation rates for certain gambling activities such as scratch cards and online football betting. This shift away from lottery-based gambling towards activities with higher problem gambling rates is judged concerning by GambleAware.

Approximately 13.1 percent of adults in Great Britain, or around 6.8 million people, were classified as experiencing some level of gambling problems. This figure is consistent with the previous year’s data. Of these, 7 percent experienced low levels of problems, 3.5 percent had moderate issues, and 2.9 percent were classified as experiencing ‘problem gambling’ with severe issues.

The survey also focused on the legacy impacts of gambling. Among those who used to gamble, about 15.3 percent had experienced gambling issues in the past, with a higher incidence of current problems among those with a history of moderate to severe gambling issues. Nearly 18 percent of former gamblers reported feeling the urge to gamble again in the past six months.

The data points to the enduring nature of gambling harms, with over half of those who previously faced moderate problems still experiencing related issues.

The cost-of-living crisis has had a complex impact on gambling behaviours. While some individuals have increased their gambling as a result of financial stress, others report a reduction in gambling activity. The crisis has heightened the financial strain for many, exacerbating the issues for those with severe gambling problems.

Despite the significant number of individuals affected by gambling harms, only 23 percent of those with gambling problems sought treatment or support in the past year. Among those classified with severe problems, this figure was higher at 65 percent. The majority of individuals who sought help did so through a combination of family support, self-exclusion, and professional counseling.

However, barriers to accessing support remain, including stigma and the overwhelming presence of gambling advertising. Many individuals feel their gambling is under control or are deterred from seeking help due to embarrassment or disbelief that their situation is problematic, states the survey.

Zo? Osmond, Chief Executive of GambleAware, declared: “The figures published today highlight the broad impact of gambling on individuals and families. We need more investment in prevention and treatment programmes and stronger regulations to address gambling harms effectively.”

The Dutch gambling authority, Kansspelautoriteit (Ksa), has formally warned the organisers of the Dutch Grand Prix and the Sauber F1 racing team to cease any promotion of the gambling company Stake during the upcoming Formula 1 event in Zandvoort, on Sunday, 25 August. The Ksa's intervention comes just days before the highly anticipated race.

Sauber, which has been competing under the "Stake F1 Team" banner in most international races, is sponsored by Stake, a global online gambling platform. However, Stake lacks the necessary license from the Ksa to operate within the Netherlands, rendering any promotion of its services illegal under Dutch law.

In the Netherlands, it is prohibited to offer, advertise, or encourage participation in gambling activities without proper authorisation from the local authorities. This includes online gambling operators and offshore platforms, who are required to implement geoblocking measures to prevent Dutch citizens from accessing their products. While Stake has reportedly employed such measures, the Ksa has noted that Dutch players are still managing to access the site and participate in its games.

Given the high-profile nature of the Dutch Grand Prix, which attracts a broad audience, including minors and young adults, the Ksa views the potential promotion of offshore gambling during the event as particularly concerning. The regulator stated in a press release that the exposure of vulnerable groups to such advertisements could have "serious consequences".

The Ksa has urged Sauber and the Dutch Grand Prix organisers to avoid any association with Stake during the event. Specifically, the Ksa has requested that Sauber refrain from using the "Stake F1 Team" name and ensure that no advertising for the gambling operator takes place during the Zandvoort race.