Last updated: 2013-04-15
Betsson’s profitable growth stems from a willingness and desire to constantly improve the operations. The Internet-based gaming industry is constantly exposed to a rapidly changing environment, such as changes in legal systems, seasonality and currency fluctuations. In order to be able to manage these situations, it is of great importance that Group can learn and adapt, but, at the same time, it is vital that Betsson’s customers feel safe and secure with Betsson’s gaming and payment solutions. This permeates all Company and Group customer offerings. Betsson does not have a separate internal auditing function but has, instead, determined that it will execute the internal audit function through its existing organization. The Board and the Audit Committee regularly reassess whether the introduction of an internal auditing function would be of benefit to Betsson. During 2012, the Company appointed a Global Tax Manager in order to further ensure that the Company complies with applicable tax regulations.
As a complement to this, operations are also monitored by several independent parties. Betsson is licensed in Malta by the Lotteries and Gaming Authorities (LGA). In order to obtain and maintain licenses, the Company’s routines and processes must meet certain quality standards. LGA scrutinizes operations in order to ensure that the Company meets all of the requirements. Betsson’s companies are also PCI-compatible for secure card transactions, and cooperate with several large banks. As a result, all credit card information is handled securely and the Company meets the highest security standards as regards payments, withdrawals and deposits. All private information transferred to and from Betsson sites is encrypted by Verisign SSL and is monitored 24 hours a day, 7 days a week. The random number generator behind Betsson’s casino games, which guarantees equitable gaming, has been tested and approved by two independent third parties, the National Laboratory of Forensic Science in Sweden and Technical Systems Testing in Canada. In order to ensure that the poker software always produces random numbers, independent controllers test the random number generator (RNG) on a monthly basis. These monthly reports are published on an ongoing basis. Players using “poker bot” programs to make decisions during the game are cheating. Betsson has secured the poker table against the use of these programs via Botguard; this is so that players can feel secure and confident that they have the same technical conditions as all of the other poker players. In order to ensure that the poker software consistently produces numbers entirely by chance, the random number generator which Entraction Solutions AB uses has been evaluated by iTech Labs, and it has been determined that this generator meets the requirements of the RNG standard.
The Audit Committee bears the ultimate responsibility for ensuring that the established principles for internal control are complied with. The President and CFO are responsible, on a continuous basis, for taking appropriate steps to maintain sound internal control. Each Company function is responsible for executing the internal control within its relevant operational area, based on stated conditions. Reporting is ongoing at all levels.