The Betsmart team has combined experience of over thirty years working within the gambling sector, an extremely large portion of which has been dedicated to operational risk management.
Real operational experience is imperative for engaging and motivating in-house compliance staff and for delivering pragmatic solutions in a working environment, although it is often overlooked by companies considering different support options for managing regulatory risk.
Ultimately, we’ve ‘been there, done that’ and walked many miles in your shoes – we know what really works and what doesn’t.
The most beneficial work-life experience a compliance professional can have is to support an end-to-end investigation, enforcement and clean-up process.
As well as employee experience of this process gained through in-house roles, Betsmart itself has worked with multiple companies going through this painful process.
The lessons we have learned are invaluable and this knowledge is placed at the disposal of every organisation we work with.
The implementation of effective compliance processes needs to be defined by business-specific features.
From size to risk appetite; customer type to systems maturity; regulatory environment to group structure.
There is no one sizes fits all, therefore our approach is always bespoke and unique.
The increasing array of tools being built to support the industry can be overwhelming, making it difficult to select the best options for your company.
Through working with lots of different gambling operators, we’ve had the opportunity to review a wide range of tools which are available in real operational environments. Demos can be useful, but in reality, you only really learn about the effectiveness of any tool once you start using it.
Ultimately, we know what’s out there, we know how it works, we know the strengths and we also know the weaknesses.
With such a long history of working within the industry, the Betsmart team have built up an extremely strong contact network. This is imperative for maintaining awareness of developments in the fast-paced gambling sector.
Subtle changes in regulatory environments and general industry under-currents are as important to be aware of as regulatory change itself, as this type of knowledge supports effective horizon scanning.
In turn this enables us to build robust, future-proof solutions for the organisations we work with.
Understanding how to truly embed a compliance culture is the key to building an efficient, profitable, sustainable business.
Our people have studied this in great depth through a string of professional qualifications designed for the mature regulatory environment of the financial services sector.