OneComply To Facilitate FansUnite Expansion
Licensing and regulatory compliance specialist OneComply Inc. has been tasked with assisting sports betting and entertainment giant FansUnite Entertainment Inc. as it makes its way into additional gaming jurisdictions in North America. OneComply will provide FansUnite with the necessary regulation protocol advice as well as the strategy required to bring the expansion into effect as the latter increases its legalised gaming foothold.
The OneComply announcement follows the news of FansUnite being in the process of amalgamating with Askott Entertainment Inc. Once complete, the amalgamation will bring about one of Canada’s largest and leading online gaming operators. The ultimate focus will be on eSports betting, sports wagering, and online casino games, FansUnite has confirmed.
OneComply A Valuable Link
The partnership is welcomed by FansUnite as it looks to make an expanded entry into the North American gaming market, said CEO Scott Burton at the time of the official announcement. The licensing processes can be complicated and nuanced, said Burton, but with the OneComply’s assistance, those processes will be streamlined as the gaming giant looks forward to presenting its gaming and betting solutions to a larger audience and potential customer base.
Even though the abolishment of PASPA has created significant new opportunities in sports betting and legalised online gaming across the United States gaming and wagering market, those companies looking to become industry role-players still face enormous challenges and regulatory proceedings in order to be licensed to trade.
Making the entire process even more daunting is the fact that companies are required to file applications for each jurisdiction (state) they hope to enter and serve. Sports betting in the U.S. is regulated on a state-by-state basis. Applications for new licenses can literally run into the thousands of pages, placing enormous administrative and regulatory burdens, not to mention the weight of massive third-party expenses, on new applicants.
Compliance Is No Small Feat
According to OneComply CEO Cameron Conn, the various licensing requirements enforced by the different states can be daunting – this notwithstanding the number of opportunities on offer to new licensees. This tends to be exacerbated by the fact that companies are no longer applying to enter a single jurisdiction only, but typically want to apply to enter multiple states simultaneously.
The typical outcome, explained Conn, is that the application processes ultimately lead to terrific amounts of lag in day-to-day productivity. OneComply specialises in alleviating this lag by taking over the regulation and compliance processes and responsibilities on behalf of operators.