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Choosing the right iGaming platform in a highly regulated industry

Pragmatic Solutions / 3rd Dec 2019
Editorials
Pragmatic Solutions is an iGaming platform (PAM) for regulated markets, developed with stability, scalability and speed in mind. By focusing on the platform as its core product, Pragmatic has succeeded in creating a modular, API-based, common-wallet system. The platform handles all regulatory requirements across multiple markets and meets applicable laws, while planning to further expand in coming years.

The iGaming industry is steadily growing throughout all territories given the advanced technology and is becoming a considerable segment of today’s digital economy worldwide. This an aspect that both platforms (PAMs) and operators could take advantage of, but its rapid proliferation brings some issues to the table as well. One of the biggest problems is represented by unpredictability, which is highly influenced by regulatory pressure. The landscape is not a steady one, forcing iGaming professionals to keep an eye on what each state decides in terms of law.

iGaming professionals always follow regulation institutions because not only they influence how much money is spent on compliance, but they also affect the player’s behaviour. Legislation changes constantly to keep the players protected and to encourage them to be responsible while enjoying iGaming as we know it today. Not all territories adopted iGaming with open arms, while others implemented regulations quite fast. As a result of this segmentation, market expansion in iGaming is now tied to obtaining licenses in different jurisdictions.

How do regulation changes affect iGaming platforms?

Regulation is under constant reformation in iGaming, and that causes platforms to change their priorities as per the new requirements unless they have an adaptable and flexible product that could easily integrate such changes quickly, without affecting the business operation and finances. Operators demand services from providers that ensure long-term stability and the chance to expand to other markets in the future, guaranteeing less downtime and a lower financial impact, two aspects that may arise when changes appear in markets legislation. iGaming platforms are now pressured to work continually on obtaining new certifications, so that they can give their operators access to the markets they target.

Even though gambling policies and regulations may vary locally, there are some general aspects towards platform certifications in the industry, that are essential to keep informed; such as what countries or territories are covered, as well as  certifications for product technical features, that review, test and report on gaming providers against the standards established by certain  jurisdictions. Simply put, regulation changes compel iGaming platforms to direct resources towards obtaining the needed certifications in order to reach more operators and allow them to expand in the long run.

Selecting the proper iGaming platform in today’s context

Because regulation is now an aspect that should be taken into account by all iGaming platforms, the difference is made by how flexible and scalable they are, as well as how many jurisdictions are on their list. A flexible PAM will always seek new regulated markets to expand to, adapting its offering to localised operators. Choosing a platform should be done with the possibility to extend reach in mind. Operators can change their business goals according to the achieved level of success, and a static, non-compliant platform cannot provide them with the services they would need.

Pragmatic Solutions is a fast-growing platform works exigently to meet compliance standards. In the current year, Pragmatic Solutions already obtained a series of certifications that reinforce its role in the iGaming landscape. The platform was audited for the UK and Sweden; two notable achievements that grant it access to significant markets. Pragmatic Solutions focused on business expansion, and these certifications come as evidence of the company successful strategy, which follows previous certifications in Malta, Curacao and GLI-19.

As a set of common standards for the technical regulation of iGaming markets, GLI-19 certification covers best practice standards across a number of regulated markets such as the USA, Canada, and a range of countries across Europe, including United Kingdom, Malta and Gibraltar. With this certification in place, Pragmatic’s flexible, scalable, and fully adaptable iGaming platform has attained yet another seal of approval from the industry, one that strengthens its commitment to quality and trustworthiness, while reinforcing its regulated market approach.

By the end of this year, Pragmatic Solutions plans to expand to Denmark, Italy and Spain, territories that will further consolidate the platform’s presence in the European market.

In a busy market like the iGaming one, differentiating from the rest of providers is a priority and with compliance becoming so big of an issue, obtaining certifications can be the contrasting factor. Of course, the technology used is still the pillar of iGaming platforms, but it brings no benefits when limited by regulations. This is why compliant PAMs gain so much ground today and should be closely followed.

Tag iGaming API-Based Platform iGaming Platform (PAM) platform provider regulated markets