Marketing company A Game Above and online services developer Beanstalk developed Yield Sec. “The first effective tool to help regulators and the government monitor, enforce the gambling and gambling industry laws,” said Steen Madsen, CEO of A Game Above, and Jack Symons, co-founder of Beanstalk, in an interview with SBC Notícias.
Yield Sec is a technical solution with a clear purpose: the defense of a legal market. With this tool, the influence of the illegal market is drastically reduced, which prevents licensed companies from suffering from decreased profitability.
The mechanism aims to protect the bettor. “Yield Sec turns illegal sites into blocked sites and produces a sustainable and predictable return through tax collection. It eliminates easy access to these sites without a license, ”said the executives.
According to the institutional description, “Yield Sec understands how the illegal online gambling and betting market works, researches, detects and blocks unlicensed sites”.
“There cannot be a serious campaign to protect the player without eliminating the illegal market. Yield Sec works to exclude these platforms and, as a result, allows sincere protection for the player ”, declared Madsen and Symon.
From there, the resource came to collaborate with the segment that operates according to the law. “It is clear that in many markets, licensed operators face clear feasibility and sustainability concerns due to the inadequate and unfair competition they face from illegal and unlicensed sites and applications,” they said.
Yield Sec arrives to help regulate the market
In addition to Yield Sec, Game Above and Beanstalk launched quarterly regulatory debates, Yield Sec Regulatory Roundtable. “It is vital that all parties involved in the gambling and betting industry debate in an informed and realistic way about the products that are offered and consumed responsibly”, according to the executives.
The round tables established a serious atmosphere to develop assessments for the industry, where companies can relate to regulatory authorities. “The dynamic of ‘name, guilt, fine and shame’ has led the industry to progressive discredit,” argued Madsen and Jack Symons.
For all these reasons, the two businessmen believe that it is vitally important to “better understand the legal sector and end the threat from the unlicensed market”. In addition, the tool’s results tend to indicate the negative impact of irregular websites.
Illegal market growth
The danger of the illegal market has been increasing in recent years, while governments are still concerned with regulating, limiting and adjusting certain business guidelines in legal companies, such as participation, activities and deposit limits, according to SBC Notícias.
The consequences were in vogue, especially in the period of social isolation around the world, when it was noticed that users decided to bet on unregulated platforms. This causes a reduction in the collection of companies and taxes by the States.
“Thousands of players search for ‘gambling’ or ‘casino bonuses’ on Google and find dozens, if not hundreds, of options. It is very difficult for customers to differentiate between legal and illegal companies ”, reflected the directors.
Therefore, the adoption of Yield Sec by regulators would result in more detailed inspection. “The tool works with three easy-to-understand processes: monitoring, surveillance and application. In each phase, we seek contributions and cooperation from all stakeholders interested in gambling and betting ”, they said.
The executives added: “We have a Yield Sec block list, but we also have a list of approved sites, compiled based on the regulator’s data. This will allow Internet service providers (ISP) to verify, in real time, that the links and content come from legal sites ”.
In addition, obtaining the “maximum potential pipeline rate is a key KPI for Yield Sec in any market. The aim of our work with the government and regulatory bodies is to level the playing field of the industry so that taxes and player protection can survive unfair competition, ”they concluded.
