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It requires operators to describe in detail how they will responsibly wind down their operations should their licence not be renewed or be revoked. Or if they decide to leave the market midway through the five years between renewals.
The regulator noted that several operators received “additional points for attention”, indicating that while these applicants met minimum legal thresholds, the KSA expected continuous improvements in compliance practices.
In June, one of the operators, TOTO online BV, was reported for violating the ban on featuring role models in advertising materials.
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“The largest black market operators have scaled to create recognisable brands with traffic that can compare to domestically licensed operators,” the report’s authors wrote. “The top group of sites by common owner has a 12% share of traffic, while the largest single brand has 10%.”
Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.
By comparison, the long tail of smaller black market sites rely heavily on affiliates to generate traffic.
What is Blazing Bull Cash Quest?
“All the testing in the world cannot tell you precisely where you stand against the rest of the market on key aspects of the product,” Lamb says. “It was very positive to see Kambi as a leader in these key metrics.”
The way customers used the offering was equally instructive. Bets outside the match-winner market accounted for 63% of pre-match turnover, compared with 57% in 2022, reinforcing the importance of depth beyond traditional markets.
Post-World Cup, Kambi is now working to offer more shots-on-target options before matches and additional automated intervals in-play, creating further betting opportunities as games unfold.