World Regulatory Briefing at ICE, 5 key takeaways from Day One

Shirley Pulis Xerxen January 20, 2025
World Regulatory Briefing at ICE, 5 key takeaways from Day One

The World Regulatory Briefing (WRB) 2025 kicked off on Monday at ICE Barcelona, marking a key moment for policymakers, regulators, and industry leaders to explore, in the words of chair Nadine Dereze “the new iGaming ecosystem”. SiGMA News will be reporting on location throughout the event.

The inaugural day witnessed an impressive array of speakers, with notable figures such as Vicente Fox who served as the president of Mexico from 2000 to 2006, several representatives from regulatory bodies from the Netherlands, Spain, Lagos, the Philippines, France, Bulgaria and Malta and from industry giants including Soft2bet, H2, BetMGM, PwC, to mention just a few.

Constant threats to a regulated market

In his opening address, Mikel Arana, DG of Spanish Directorate for the Regulation of Gambling (DGOJ) said that the industry needs to “balance progress with responsibility” in the face of “constant threats to a regulated market” from illegal operators. Asked about what the future holds, Arana focused on the increasing role that artificial intelligence will play and the relevance of emerging payment methods. The “future is challenging but filled with opportunity” concluded Arana.

Convergence – yay or nay?

Inevitably, the issue of convergence was discussed during the day. According to Birgitte Sand, Gaming consultant and CEO of Birgitte Sand & Associates ApS commented that the regulatory landscape across the globe is “a patchwork” due to the “huge lack of convergence”, adding that it was “sad to see that we have not done better in Europe”. Michel Groothuizen, Chairman of the Netherlands Gambling Authority (Kansspelautoriteit) added that “very few policy fields that are so diverse”. Commenting from an operator’s perspective, David Yatom Hay, General Counsel at Soft2Bet, hinted at the inevitability of a fragmented industry since “regulators are focused on their own territories”, leading to a situation that “takes our focus from player protection” to complying to regulators.

Is illegal gambling on the rise?

A resounding “Yes!” according to Isabelle Falque-Pierrotin, Chair of the French Gambling Authority (ANJ). “It is no longer a niche market, but well-established, widely publicised”, she added, referring specifically to the proliferation of online casinos in France, which are widespread in spite of not being allowed to operate in the country. According to Bashir Are, CEO of the Lagos State Lotteries & Gaming Authority, the African continent is not faring much better, comparing the current illegal gambling industry in Africa to the practice of using Africa as a dumping ground for industrial waste in the 1980s and 1990s. Other parts of the world are not immune to illegal gambling. Statistics shared during one of the panels highlighted that the Malay government loses USD 670 million in tax revenue annually to illegal betting syndicates, while the Chinese illegal sports betting market is estimated to be worth USD 600 billion a year.

Immense potential in LATAM

Vicente Fox who served as the 62nd president of Mexico spoke about the “huge investment opportunity” in Mexico and more broadly LatAm. He spoke about what he perceives as the threat of populist parties leading countries in the region including Colombia, Peru and Chile, which he equates to a loss of freedom and democracy. He said that it is “time to change”, with market economies in LatAm being a potential “big future economic power”.

Need for dialogue, balance

On the first day of the WRB conference at ICE, a compelling need for dialogue and balance within the industry emerged as a central theme. There was a repeated emphasis on fostering open conversations among stakeholders, crucial for steering the industry towards meaningful progress. This collaborative approach was seen as essential for shaping effective regulations that promote business growth and prioritise player protection. The conference highlighted the importance of creating an ecosystem that ensures sustainability and accountability in gambling practices, ultimately benefiting all parties involved.

SiGMA Eurasia in Dubai is just a month away

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 23 and 25 February 2025, the summit provides invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets.