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The company recently launched a new user interface for SunBet in both South Africa and Botswana, and Bengtsson said there was more to come.
“That work is ongoing,” Bengtsson commented. “We had a very strong World Cup, which shows that our sportsbook can handle and can have the capacity to handle larger volumes.
“We’re very encouraged with the trajectory of that, but we’re still not where we want to be. But a lot of the work, or some of the work has been done, and we have a lot more planned for the rest of the year. So bear with us. It is happening.”
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“The largest black market operators have scaled to create recognisable brands with traffic that can compare to domestically licensed operators,” the report’s authors wrote. “The top group of sites by common owner has a 12% share of traffic, while the largest single brand has 10%.”
Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.
By comparison, the long tail of smaller black market sites rely heavily on affiliates to generate traffic.
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However, the latest filing does not create such a system right away. Its OIRA entry describes the action as a preliminary measure and says it is not economically significant under the relevant review criteria. No legal deadline has been listed for review either.
It could, therefore, take quite a bit longer than the timing of the initial filing indicates. The CFTC would have to publish its action and solicit public comment after White House review before writing a formal proposed rule. Any final rule would have to undergo another review and comment period before it could take effect.
The distinction matters for crypto businesses. The filing shows regulatory work is moving forward, but exchanges and other market participants cannot yet consider it a set of rules they must adhere to.
