Compliable makes strides at SBC Summit North America on panel for US Licensing Challenges
While meeting with key stakeholders is always the mission of these larger conferences Justin took some time to highlight some aspects of the regulatory landscape in a panel about streamlining compliance in a scalable way.
"I think there are far more commonalities between what state regulators look at, I mean almost every regulator will say they take a 'risk-based' approach when they look at licensing and what they investigate and what they are particularly concerned about. By and large they are all looking at the same criteria they just might ask it in slightly different ways, then when you multiply that across the global eco-system and you have operators that are active in 10, 20 or 30 different states you really get to a system where you have death by a thousand cuts."
Justin was asked about the biggest hurdles in the industry and he specifically called out the different licensing portals being spotted in various states. All panelists agreed that some level of uniformity needs to be spearheaded by the industry or standardization efforts simply will not happen.
Panelists additionally called out previous standardization efforts such as the Multi-Jurisdictional Personal History Disclosure form affectionately referred to as the “MJ.” This form was created by the International Association of Gaming Advisors (“IAGA”) in conjunction with multiple jurisdictions in a previous effort to streamline licensing. Unfortunately, soon after the creation of the MJ states added their own specific supplemental required forms, thus undercutting the progress made on standardization.
"One of the the biggest challenges is when regulators, in an effort to make their ecosystem easier, adopt technology that is state specific... and while that is a solution for a state based regulator, it does end up creating hurdles for any Operator, Supplier or Vendor that’s operating at scale because not only do they need to do licensing, but they need to learn a technology platform that's specific per jurisdiction... You have to learn that system, your employees have to learn that system."
Next the panel tackled advertising and how to regulate it, why it’s important and when it isn’t necessary. Justin specifically spoke to the fact that the advertising of operators in gray markets is unregulated in any way while legal operators are often heavily analyzed. The panel further discussed the advantages of advertising for legal sportsbooks in markets as a way to push back against illegal operators by educating the public on which operators are approved.
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