Forming a joint venture partnership, A GAME ABOVE has partnered with player security specialist Beanstalk to introduce a ‘regulatory support product’ – Yield Sec.
Bringing Yield Sec to market, A GAME ABOVE and Beanstalk have announced that they have created the first tool to assist policymakers and regulators, track and eradicate ‘black market threats,’ hampering the advancement of licenced incumbents’ controlled marketplaces.
Yield Sec will help regulatory authorities, actively tracking the activities of illicit black market websites targeting individual marketplaces and vulnerable consumer segments with a real-time solution and database.
A GAME ABOVE positions Yield Sec as a crucial tool for regulatory teams aimed at ensuring ‘effective and upholding player protection,’ with its solution offering additional tools for tracking, regulating and implementing controlled market behaviour.
Commenting on the launch, A GAME ABOVE CEO Steen Madsen said: “The operation of a sustainable marketplace, with cared-for customers and practically excluded minors and at-risk audiences, whilst raising valuable taxation revenues for society, predictably, is the perfect way to support our shared mission across A GAME ABOVE and Beanstalk: the customer experience.
“Player protection and the operation of a sustainable, responsible industry, onshore and subject to regulation, are, in our view, simply facets of the customer experience, overall.”
The product would require policymakers and regulators to set up a ‘regulatory ring-fence for all licenced and soon-to-be licenced markets,’ which A GAME ABOVE and Beanstalk hope would avoid ‘the failure to fund good causes and the outright theft of legitimate tax yield by illicit black market operators’.
Leading product development of Yield Sec, Beanstalk is the igaming player protection agency that runs multi-device igaming website / app blocker Gamban – an application that has been recognised as one of the most powerful player protection tools in igaming.
Jack Symons, Beanstalk co-founder and managing director, added: “After an intensive period of research and development, we’re pleased to be announcing the launch of Yield Sec. Across most markets today, those at risk of gambling-related harm do not know where to effectively turn when facing a problem.
“Escaping a spiral of continued, compulsive play is almost impossible when no gambling cessation helpline or tool has historically worked to effectively exclude the black market. Yield Sec will achieve this and provide for meaningful player protection. Caring for the vulnerable is ineffective if we only place conditions upon licensed operators but then leave the unregulated black market openly available.”
Developers of Yield Sec claimed that during a period of instability across multiple markets, an efficient black market monitoring solution is required in which government and regulators seek to harmonise regulatory measures balancing player safety and tax yield measures.
Bill Pascrell, III, President for A GAME ABOVE of North America, concluded: “For governments and regulators, Yield Sec is a tool for our time and the sustainable future of regulated online betting and gaming.
“Despite the loss of nearly all professional sport over the COVID-19 crisis, it is clear that black-market betting and gaming sites and apps benefited enormously – at no other point in history have we seen the broad presence and availability of so many unlicensed, unregulated offerings, none of which pay any tax, protect any players or provide for those at risk.
“In targeting regulated territories, these black market operators are effectively stealing taxpayers’ money and avoiding the contributions that licensed, responsible operators make to good causes and the prevention of gambling-related harm.”
A GAME ABOVE and Beanstalk announce Yield Sec
We’re pleased to announce the launch of the world’s first technical and advisory solution for government & regulators that caters to one essential across regulated betting & gaming markets: the protected, licensed marketplace. pic.twitter.com/fDgt5TTiV0
— A GAME ABOVE (@AGAMEABOVE) July 28, 2020