Play’n Go’s CEO has come out against online sweepstakes casinos as the US and other areas of the world begin to scrutinise them. States across the US have begun to move to outright ban them, as regulating sweepstakes is proving to be a tough job.
Johan Törnqvist, Play’n Go’s CEO, said in a statement on Tuesday:
“Sweepstakes casinos do not operate inside a regulated framework, and that’s not something we support.
“Our commitment to regulated markets is absolute. We will never supply our games to sweepstakes casinos.”
Sweepstakes casinos operate differently from regular gambling sites. Rather than depositing or using your own money, you buy “bundles” of both “gold coins” and “sweep coins”.
Gold coins allow you to play games, but for no monetary gain. Meanwhile, the sweep coins are often valued at a one-to-one ratio with the dollar, and these can be used for proper gambling.
However, there’s no limit on how many bundles can be purchased, as well as little oversight on the gambling habits of users, raising concerns for those vulnerable to addiction.
Play’n Go thinks sweepstakes casinos will come back to bite people
Head of Government Affairs for Play’n Go, Shawn Fluharty, came out with a more pointed message. He outright states that companies or people doing business with these sweepstakes casinos will find it tough to find work in the future:
“Sweepstakes casinos threaten the regulated market model that many of us in the industry have worked so hard to achieve, which protects players first and foremost, and delivers much-needed revenue to jurisdictions.
“Regulators across the US, in particular, are rightfully beginning to crack down on these unregulated operations. And I can say with confidence that regulators have long memories – anyone doing business with sweepstakes casinos today will find it very difficult to do business in a future regulated market.
“Additionally, lawmakers certainly have an interest in protecting licensees and state revenues going forward.”
Connecticut is the latest state to aim to ban sweepstakes, with New Jersey and New York also aiming to ban them. Maryland attempted to get them banned, but bureaucracy reigns supreme, and they couldn’t complete it in time.
