Betsoft is ready for Germany!
Betsoft are pleased to announce that all technical or regulatory requirements have been met and that our diverse portfolio of games are compliant with the new German regulatory requirements as of 15th October 2020.
Head of Account Management, Adam Daniel and Marketing Manager, Kai Botha, discuss the opportunities and challenges that a post-regulated Germany presents.
The German Interstate Treaty on Gambling, known as ISTG, has formally entered its transition phase prior to coming fully into law on 1 July 2021.
Between 15 October 2020 and next summer, the German authorities are asking for immediate compliance to avoid potential pitfalls or even prosecution of operators.
Award winning content provider Betsoft Gaming is pleased to announce that all technical and/or regulatory requirements have been met and that its diverse portfolio of games is compliant with the new German regulatory requirements as of the 15th October 2020.
Head of Account Management, Adam Daniel (AD) and Marketing Manager, Kai Botha (KB) discuss the opportunities and challenges that an increasingly regulated Germany could present. Click on the link to read more.
Does Betsoft meet the necessary requirements for online casino games in order to be both operational and compliant under the newly required German regulations?
KB: Short answer – yes.
According to GlüneuRStV – or Glücksspielneuregulierungstaatsvertrag to give it its full title – operators are required to comply with player protections guidelines, addiction prevention measures and the terms of each vertical to be ready for July 2021 at the latest. Betsoft has ensured that standard obstacles to regulation have already been overcome insofar as the October/December 2020 requirements have been met. These changes were actioned promptly. Should any further changes or new requirements come into force, then we will meet those with the same speed and efficiency.
How many operators have ‘guaranteed’ to re-sign with Betsoft to date under the increased regulations?
AD: 20+ key operators are in place already with many more currently in the process of so doing. The team is burning the midnight oil to ensure that the remaining operators are onboarded as smoothly and efficiently as possible during this phase. Betsoft is renowned for its customer service and back office systems so we are confident we will make this as seamless a transition as possible.
Will Betsoft’s content strategy need adjusting to meet more stringent regulations?
KB: Betsoft is a very forward-thinking and proactive business. We operate in highly regulated markets and compliance is as enshrined as our trademark innovation and entertainment skills. I don’t see significant change being necessary. We will continue with our strategy of delivering an award-winning and diverse portfolio of high-quality games to our constantly growing client base.
What obstacles, if any, does Betsoft foresee throughout this process?
AD: Currently we are very capable of meeting and overcoming technical requirements; moreover, we are able to meet them quickly. We are confident in committing ourselves to whatever iterations come from the German regulator. The situation is still very malleable though, making it difficult to gauge the extent and scope of potential obstacles. However, as always, we are fully supportive of and prepared to serve our loyal customers in this market.
What opportunities does Betsoft see for itself and its operators in the wake of the new regulations?
KB: Change breeds opportunity. For the time being, however, our focus is on promoting the Betsoft product in a dynamic market and concentrating on customer service there. In summary, it’s business as usual.