The American Gaming Association has called for more regulation of sweepstake casinos, emphasising that their rise presents a myriad of risks for the sector.
In a piece published on the Vixio Regulatory Intelligence, the body drew attention to the fact that sweepstake casinos are incredibly similar to that of regular casinos. However, in most circumstances these firms operate under a far less intense regulatory environment.
According to the AGA, sweepstakes avoid regulations and licensing through a dual-currency system, however they do still ‘look and play like an online casino’. It warned that ‘the ‘opaque nature’ could also significantly elevate the risk of bad actors having an opportunity for illegal activity.
The AGA stated: “The lack of regulatory oversight presents many risks for consumers as well as the integrity and economic benefits of the legal gaming market through investment and tax contributions. These sweepstakes-based operators have weak (if any) responsible gaming protocols and few, if any, self-exclusion processes.”
The comments from the AGA intensified pressure on the sweepstake sector after numerous lawsuits placed against Virtual Gaming Worlds, which owns popular sweepstake sites Chumba Casino, Lucklyand and Global Poker.
Nonetheless, in its latest interim update, Catena Media underlined its anticipation that the sector will continue to evolve and grow.
Catena Media CEO, Manuel Stan, revealed his belief that sweepstakes are the fastest growing vertical for the firm and he believes that they ‘are very well positioned to capitalise on that growth’ of the industry.
He added: “Our products are focused on growing the sweeps vertical. I think it’s twofold. Right now, we see that generally overall in the industry being one of the fastest-growing verticals and we capitalise on it.
“But also, we position ourselves for post-regulation in the bigger states in the US, where we will be able to have built our databases around our brands to capitalise when the likes of California and Texas will be regulating.”
Aristocrat Interactive has landed a new deal to power TangoBet as the operator looks to tap into MGA and UK markets.
The collaboration comes following a deal with Digital Knights as the new igaming brand enters the competitive ecosystem in the final part of the year.
TangoBet underlined that it is seeking to tap into Aristocrat Interactive’s ‘extensive industry expertise and a complete and advanced suite of services’ as it looks to maximise its entry into the market.
Jonathan Chilton, Managing Director of Aristocrat Interactive iGaming White-Label, commented: “This deal with Digital Knight aligns perfectly with our strategic objectives of strengthening Aristocrat Interactive’s iGaming White-Label presence in regulated European markets. Our premium technology and comprehensive managed services will empower the new Digital Knights brand to thrive, offering an exceptional igaming experience to players.”
The appeal and effectiveness of Aristocrat Interactive iGaming White-Label provides operators with a robust, scalable platform to quickly and efficiently enter regulated markets.
Volkan Aktas, CEO of Digital Knights, added: “Aristocrat Interactive is renowned for its excellence and innovation. We are excited to unveil TangoBet to the industry, backed by their robust and scalable platform. Utilising our own experience in the market and with their support, we are certain that TangoBet will captivate players with a wide range of betting options and unparalleled service.”
In its most recent expansion of its igaming portfolio, Aristocrat sought to tap into the fandom of House of the Dragon, as the group launched a new title.
The slot game – titled House of the Dragon – will be installed on Aristocrat’s King Max cabinet as part of the supplier’s existing partnership with Warner Bros, making the announcement ahead of the Game of Thrones prequel series’ second season finale on Sunday, 4 August.
Aristocrat’s official partnership with Warner Bros has seen the supplier produce previous Games of Thrones slot cabinets, having released ‘Games of Thrones Winter is Here’ back in 2021.
“The House of the Dragon television series has broken records and engaged a legacy of fans in a new way,” said Hector Fernandez, CEO of Aristocrat Gaming.
“We are thrilled to further the epic entertainment of this hit series with the creation of the new House of the Dragon slot game.
“We are proud of the previous successes we’ve had bringing our Game of Thrones slot games to life, and we anticipate this new game to continue the excitement and appeal to an even larger audience.”