When we founded Degree 53 back in 2013, we wanted to offer our digital services to businesses regardless of the industry as we can apply our expertise of developing complex products to anyone. However, as our core knowledge lies in online gambling and we have a strong product portfolio of sports betting and gaming products, we also wanted to continue working in this industry to help operators improve their services.
In 2014, the UK Gambling Commission (UKGC) introduced new regulations which meant that any online gambling software needs to be built by suppliers or operators who have the gambling software operating licence. While operators need to have the operator’s licence, anyone building a digital sportsbook or casino for the UK market needs to hold the remote gambling software developer’s licence.
To be able to grow and expand our services in the online gambling industry, we secured the Remote Gambling Software licence in March 2015. This was a huge deal for us and is something we’re very proud of. This licence demonstrates our commitment to creating high quality online gambling products, focusing on security and responsible gambling - both of which are required by the UKGC.
There are specific technical and security standards that we need to meet when building a sports betting or gaming product.
The technical standards include creating features that display various information that customers and operators will need from a product. For example displaying betting information, determining results and returns, setting financial or time limits, In-Play betting features, data feed and third-party integrations and much more. Basically, there is a technical requirement for each feature that you might see in a sportsbook or casino.
The UKGC have also placed a bigger emphasis on offering greater control to customers while betting. For example, one of the technical requirements is ensuring that customers are able to see any price changes on odds and confirm if they’re happy with them before placing a bet.
The security requirements are a subset of the ISO/IEC 27001: 2013 standards. They include a number of features that need to be put in place in the backend of the product, such as security, encryption, asset management, communications, operations, compliance and other elements that help the product run while adhering to the regulations. These standards help businesses ensure the security of their products and is a highly important capability to have.
How do we fit in with other industries?
Online gambling is one of the most regulated industries in Europe and the UKGC holds operators and suppliers to a high standard. Thanks to our experience in online gambling, this licence and part of it falling under the ISO/IEC 27001: 2013 standards, we can easily transfer our skills to other industries where compliance and security are a huge requirement, such as finance, education, travel and others. So far, we’ve worked with Co-operative Bank, Evergreen Energy, CardOneBanking, Sofology and evestor who we were able to add value to and create great and secure products with. They operate in finance, utilities and retail where transactions, customer accounts, financial information and assets need to be protected, so our skills were useful for helping them launch new products.
If this is something you’d like to discuss further, please get in touch with us.