Norbert Teufelberger, Co-CEO of bwin, has stated that the “lack in regulation and insistence on preserving the anachronistic monopolies” do not reflect an up-to-date approach in fraud control but actually accomplish the exact opposite: the emergence of an uncontrollable black market.
The bwin Co-CEO renewed his fervent call for a long overdue regulation of online gaming in Europe.
“Monopolies are unable to accommodate the requirements of today. Bans are counterproductive. Alone a regulated market with reputable providers can better forestall such fraud scandals,” said Teufelberger.
According to the company, under a viable regulation, the state would be able to satisfy its public policy mandate and, in awarding licenses, issue strictest gamer protection criteria, money laundering guidelines, etc. and monitor compliance with these among the licensees. It added that security standards and control mechanisms of the highest order can be implemented online.
As founding member of the European Gaming and Betting Association, bwin helped create the first mandatory code of conduct for private online gaming operators. This code sets out a close-meshed system of control measures which are all the more efficient than in traditional gaming due to the Internet’s transparency, highlighted bwin.
It further added that owing to mandatory registration, the providers know their customers, can keep a tab on the customers' behaviour and become active promptly in case of suspicious activity.
