Odds On Compliance (OCC), the industry-leading technology and consultancy firm specializing in sports betting, iGaming, and gambling regulatory compliance, is pleased to announce an exclusive partnership with SharpRank, the best-in-class independent evaluator of sports betting content and advertising.
SharpRank and OOC will collaborate to offer clients streamlined, efficient access to relevant compliance, audit, monitoring, and other needs.
SharpRank’s audit reports and ongoing monitoring will be made available on OOC’s recently released PlaybookAI, which provides users with the ability to search gaming compliance questions and return responses quickly and efficiently.
The audits of sports betting content and proprietary performance metrics and ratings provided by SharpRank enable real-time and ongoing oversight of regulatory initiatives.
“We are thrilled to be partnering with SharpRank,” said Eric Frank, CEO and co-founder of Odds On Compliance. “This collaboration represents a powerful fusion of cutting-edge technology and advanced analytics, which will undoubtedly raise the bar in the sports betting industry.
“Together, we will deliver unparalleled insights, accuracy, and value to our clients, enabling them to stay ahead in this rapidly evolving landscape.”
OOC’s all-encompassing online tool, PlaybookAI, plays a pivotal role in assisting industry stakeholders in navigating the intricate landscape of regulatory compliance.
As part of this holistic approach, SharpRank’s audit process and technology serve as a crucial component, particularly concerning sports betting content and advertising.
Through this collaboration, both companies are reinforcing their commitment to offering top-notch solutions that cater to the evolving regulatory framework.
“When we discover a group that shares such profound alignment in core values, the next step is to explore how we can optimize efficiencies for our clients and industry stakeholders,” remarked Chris Adams, the CEO of SharpRank.
“At SharpRank, ‘Consumer protection, first. Always’ is one of our guiding principles, and we were thrilled to find that Odds On Compliance shares this very ethos. Our partnership is firmly rooted in the mission to deliver exceptional value to our clients and contribute positively to the entire industry.”
Throughout discussions about this collaboration, SharpRank and OOC found themselves perfectly aligned in their unwavering commitment to a consumer-first approach, solidifying the foundation of their alliance.
As Odds On Compliance and SharpRank embark on this transformative journey, the sports betting industry can anticipate a surge of cutting-edge innovations, unmatched client experiences, and unwavering dedication to excellence.
Both companies eagerly look forward to the positive impact this collaboration will have, redefining industry standards and driving progress for their valued clients.
The Malta Gaming Authority has published its 2021 annual report, detailing the results of the regulator’s activities throughout the year.
iGaming NEXT has dived into the statistics to select key numbers from the report, including the revenue generated by the authority, the number of active licensees in the market, number of active jobs in the gaming industry and how many licensees were subject to compliance audits by the regulator.
€79.5m: Revenue generated by the authority
During the full year 2021, the MGA generated a total of €79.5m in revenue (up 2.8% year-on-year), consisting of €68.6m in compliance contributions and levies, €9.3m in licence fees, €265,000 in application fees and €1.3m in other revenue.
After administrative and other expenses of €11.6m, the regulator was left with an operating surplus of €67.9m. After adjusting for finance costs and the release of €1.8m in unclaimed player funds, the MGA filed an overall surplus for the year of €69.6m.
The regulator’s €11.6m expenses consisted principally of €7.2m in staff costs, €1.2m each in contributions to other entities and depreciation and amortisation costs, and €1.1m in general administrative expenses.
Other costs included professional fees and expenses, provision for doubtful debts, auditor’s remuneration and promotional expenses.
351: Total number of active licences in 2021
The regulator held 351 active licences as of the end of 2021, up from 298 in 2019 and 328 in 2020. Licences were held by a total of 341 companies in operation. Of those, 332 were online gaming companies.
Of the total licensees, 197 held online B2C – Gaming Service Licences, of which 27 were B2C – Corporate Licences, while 144 held online B2B – Critical Supply Licences of which 13 were B2B – Corporate Licences.
Growth in the number of licences was driven by the 52 new gaming licence applications received during the year, resulting in the issuing of 46 new licences.
Finally, 21 licence applications were rejected or withdrawn, while a further 18 licences were terminated and five were cancelled.
10,685: Number of gaming industry jobs in Malta
Malta’s gaming industry employed 10,685 people in full-time equivalent positions as of the end of 2021, a significant increase of 28.9% compared to 2020’s 8,292.
Of the total, 9,919 jobs were in the online sector with the remaining 766 in land-based.
The MGA said the notable growth in gaming industry job numbers was driven primarily by additional recruitment within a small number of large businesses, a reclassification of some employees from being considered employed on indirect activities to working directly on MGA-licensed activities, and jobs generated by new companies which commenced operations in the country.
The regulator added that when including employment generated by activities in or associated with the gaming industry, the number of related jobs grows to 14,950, representing around 5.4% of Malta’s total workforce.
65.5%: Percentage of companies subject to compliance audits and desktop reviews
During 2021, the MGA carried out 54 on-site compliance audits and 230 desktop reviews of gaming businesses, accounting for around 65.5% of all licensees in the country.
Those audits were accompanied by additional AML/CFT compliance examinations carried out by the Financial Intelligence Analysis Unit (FIAU) or by the MGA on its behalf.
As a result of the audits, the MGA issued 64 warnings and cancelled seven licences, while issuing a total of 31 administrative penalties and three regulatory settlements, totalling €176,016.
An additional 10 licensees were subject to enforcement measures by the FIAU, with financial penalties totalling just over €863,000.
Outside its jurisdiction, the MGA also investigated 79 cases of websites making misleading references to the regulator and published 61 notices on its website to clarify that it bore no relationship to the websites in question.