Altenar, a producer of casino and online betting and sportsbook software based in Malta, has been given an operating license to do business in Ontario.
The company’s ability to offer software solutions to casino owners is legitimized in a fourth jurisdiction with the newest license from the Alcohol and Gaming Commission of Ontario.
However, Altenar has no plans to slow down its global expansion and instead sees this licensing as an opportunity to “inspire further innovation for Altenar’s product.”
Because of their history with the laws of these earlier iterations, Altenar has found its way around the Registrar’s Standards for Internet Gaming with relative ease. Operators and vendors alike are bound by the rules laid out in these regulations.
Altenar will use its own iGaming infrastructure to incorporate measures against fraud, money laundering, and terrorist financing. All new participants will be expected to go through these processes, which will involve identification verification steps.
It is Altenar’s intention to take “all necessary measures” to safeguard their customers from any potential cyber threats by keeping all of their data secure and online at all times.
Players in Ontario spend “approximately CAN$500M (US$338.1M) dollars annually on online gambling,” showcasing the fast growing industry for online gambling in the province. Altenar’s goal in securing a license in Canada is to capitalize on that country’s burgeoning demand for its services by attracting new operator clients.
In addition, Altenar remarked, “we need to make our product better and better in order to maintain our position in the pantheon of best gambling providers worldwide.”
Altenar released a series of market assessments in June 2022 that analyzed the state of the sports betting business worldwide and projected its future. The marketplace was given access to these reports.