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 the 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 did not have a separate internal auditing function in 2013 but, instead, decided to execute the internal audit function through its existing organization. The Board of Directors and the Audit Committee have resolved to establish a separate internal auditing function during 2014. In 2012, the Company appointed a Global Tax Manager in order to further ensure that the Company complies with applicable tax regulations. In 2013, the internal control was further strengthened by means of the establishment of a separate business controller function, responsible for, among other things, budgeting and follow-up processes.
As a complement to the Group’s own internal auditing activities, 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 independent third parties, including Itech Labs, Gaming Laboratories International (GLI), Quinel, and eCogra. 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. Certain players cheat by using “poker bot” programs to make decisions during the game. 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 are playing under the same technical conditions as all of the other poker players.
The Audit Committee bears the preparatory responsibility within the Board to ensure compliance with the established principles of internal control. The President and CFO are responsible, on a continuous basis, for taking appropriate steps to maintain good internal control. Each Company function is responsible for executing the internal control within its relevant operational area, based on stated conditions. Reports are prepared on an on-going basis at all levels.