Regulation to deepen as more jurisdictions enter iGaming: Expert
The global iGaming industry will continue to become more regulated as new jurisdictions seek to oversee and benefit from the sector, according to Ran David, Co-founder of GBO International Financial Services, a B2B gaming corporate services company.
Speaking exclusively to SiGMA News at SiGMA Asia in the Philippines, David said regulators now have greater tools and capabilities to monitor operator activity, driving the industry’s transition towards a more mature, regulated environment.
“Regulation is increasing, meaning there is much more regulation,” David said. “It’s easier for the regulator to monitor different activities, which, maybe in the past, it was harder for them to monitor.”
While regulatory oversight is expanding, David does not expect a dramatic shift towards a harmonised global licensing framework.
“I think what we are seeing today is what we will continue to see,” he said. “Each jurisdiction has its own regulation and what they want to focus on and what is important for them.”
According to David, regulatory developments tend to progress gradually rather than through major reforms.
“Regulation is moving quite step by step. It’s moving kind of slowly,” he said. “I don’t see something new that is going to happen in the market.”
Instead, he expects more jurisdictions to launch their own regulatory frameworks as governments recognise the industry’s long-term presence and economic potential.
“The gaming industry is here, and it’s going to stay,” David said. “We see more jurisdictions actually entering this market and want to be part of it.”
“If there is such an activity, I want to be part of it. I want to regulate it. I also want to benefit from it, and I also want to protect the players from it.” David pointed to the evolution of the offshore licensing landscape, noting that new jurisdictions are emerging alongside established licensing centres. “We now see new emerging licences that want to be part of this game and want to participate in this game,” he said.
He highlighted Nevis, one of the two islands comprising the nation of Saint Kitts and Nevis in the Caribbean, as one of the newer licensing jurisdictions attracting industry attention.
Payments innovation keeps pace with regulatory demands
Despite growing regulatory requirements, David believes innovation in payments and financial services continues to provide operators with new opportunities. He said entrepreneurs and technology providers are constantly developing solutions to address industry challenges.
“The industry is always finding a new solution,” David said. “Those payment solutions are one step ahead in order to support the gaming operators with all the challenges that they are going to face.”
David highlighted blockchain and cryptocurrency as examples of technologies contributing to the sector’s evolution. “From one side, regulation is getting much stronger, and on the other side, the new solutions and the new entrepreneurs and other solutions, everything is booming,” he said.
“There are so many amazing solutions today that it’s kind of hard to track all of them.”
“Regulation is here to protect everyone. First, protect the player, but also protect the operators.”
– Ran David, Co-founder of GBO International Financial Services
AI brings opportunity and uncertainty
David said artificial intelligence could reshape the industry in ways that are still difficult to predict. While AI offers opportunities for operators, regulators and service providers, David warned that rapid technological change could also create challenges.
“AI, on one side, is an amazing opportunity for everyone, but it also brings risk,” he said. He noted that some companies worry the market could shift unexpectedly as new AI-driven solutions emerge.
“Market and competition are going to move in a different direction from the one that you thought was the best direction today.” David also rejected the idea that regulators are necessarily falling behind innovation.
Compliance should be viewed as a business necessity
As operators expand into new markets, David urged them to treat compliance as a core component of their business strategy rather than a burden. He said regulators are increasingly focused on player protection, fair play and due diligence requirements.
“People understand today what the regulatory requirements are,” he said. “You need to make sure that you follow them.”
According to David, modern compliance technologies have made it easier for operators to meet regulatory expectations.
“Today you have even advanced AI tools in order to comply with the requirements,” he said. “There are amazing AI tools that we didn’t have in the past.”
David argued that operators should not fear regulation. “Regulation is here to protect everyone. First, protect the player, but also protect the operators.”
His advice to operators entering new jurisdictions was straightforward. “Just follow the regulation and everything will be fine,” David said.
Operators must plan for a more regulated future
Looking ahead, David expects regulation and compliance to become increasingly important considerations in business planning. “The market is becoming more regulated,” he said. “People should pay a bit more attention to it.”
He encouraged operators to carefully evaluate licensing options and ensure they align with their target markets.
“Choose the proper jurisdictions that they want to focus on,” David said. “Make sure they have the proper licence.”
David added that operators should incorporate compliance costs and regulatory requirements into their long-term planning. “Take it into account in your business plan that you need to also focus on the regulatory and compliance side of the business.”
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