Die Gemeinsame Glücksspielbehörde der Länder (GGL), Germany’s gaming authority, has granted approval to Okto’s wallet solution, enabling sports betting companies to utilize the e-wallet payment service within the country. Designed to comply with the Payment Services Supervision Act (ZAG), Okto’s solutions ensure that payments to and from gaming accounts are processed through a payment account registered in the player’s name. This milestone approval by the GGL paves the way for Okto to become a significant player in the German iGaming industry, thanks to its cutting-edge technology and commitment to responsible gaming.
Approval and Whitelisting:
The recent whitelisting by Germany’s gaming authority allows any online operator in the country to leverage Okto’s wallet solution. This marks a crucial achievement for Okto, as it demonstrates compliance with regulatory requirements and positions the company to offer its services to a wide range of operators in Germany. With its focus on advanced technology and a responsible gaming approach, Okto is well-positioned to establish a strong presence in the German market.
Partnership with Bet.3000 and Future Expansion:
Following approval from the German Gaming Authority, Okto’s e-wallet solution is set to be introduced by Bet.3000, and other operators who have previously partnered with Okto are expected to follow suit. By collaborating with reputable operators, Okto can showcase the reliability and efficiency of its e-wallet solution in facilitating secure and seamless payment transactions for the iGaming industry.
Catering to the German Market:
In alignment with payment and gaming regulations, Okto plans to develop new products specifically tailored to meet the unique requirements of the German market. This commitment reflects Okto’s dedication to providing customized solutions that cater to the preferences and needs of German players and operators. By understanding and addressing the specific market dynamics, Okto aims to enhance the overall gaming experience and contribute to the growth of the German iGaming sector.
Expansion into Madrid:
In addition to securing approval in Germany, Okto has recently been approved for use in Madrid, marking a significant milestone for the company. Nacho Frade, Commercial Director & Country Manager Spain at Okto, believes that this achievement underscores the increasing acceptance and demand for electronic payments in the retail gaming industry. Okto looks forward to collaborating with its operator partners to equip them with the necessary tools and solutions to enhance their operations.
Okto’s wallet solution receiving approval from Germany’s gaming authority is a pivotal development for the company. This endorsement enables sports betting companies in Germany to utilize Okto’s e-wallet payment service, backed by cutting-edge technology and a commitment to responsible gaming. With plans to introduce its solution with Bet.3000 and cater to the specific needs of the German market, Okto is well-positioned to become a major player in the German iGaming industry. Furthermore, the company’s expansion into Madrid highlights the growing prominence of electronic payments in the retail gaming sector. As Okto continues to forge partnerships and introduce tailored products, it aims to empower operators and enhance the overall gaming experience.