Alfor Ltd. reached the Finale of the “Global Regulatory Awards 2024”

Publicēts: 12.08.2024

At the beginning of December, for the eighth time, the prestigious "Global Regulatory Awards" (GRA) will be presented to companies in the gambling industry at the De Vere Grand Connaught Rooms hotel in London. Alfor is the only representative from Latvia who has recently been nominated for one of the award categories.

The award is given for exceptional achievements in corporate social responsibility and creating a safe gambling environment. The competition for the award is intense, with a record number of applications from businesses worldwide this year. In the finale shortlist entered 180 nominees from 120 organizations compete across 20 categories.

In GRA, Alfor has been nominated in the category  "Award for Commitment to Compliance by an Operator," granted for operator initiatives that have become industry best practices and have influenced knowledge and operational standards across the sector. The jury will evaluate how the initiative is integrated into the organization's internal processes, including training and technologies, and whether the company has shared its good practices within the industry.

Alfor with its brand FENIKSS, is one of the first and most experienced land-based and online gambling companies in Latvia, competes in this category with its "Responsible Gaming" program. The initiatives implemented under this program have set industry standards.

In 2018, Alfor, in cooperation with the crisis center "Skalbes," created Latvia's only specialized support helpline for individuals affected by gambling. Additionally, a free test was developed, available on the website www.spelesbriviba.lv or in every Fenikss gaming hall, to assess and prevent the risks of addiction and co-dependency. In 2022, the Latvian Gaming Industry Association took over the operation of the helpline to provide consultations, support, public awareness, and prevention at the industry level.

In 2021, the company introduced the "Mentor" player support tool on its online platform fenikss.lv, which is based on scientific research data. It monitors player behavior and spending, providing real-time personalized feedback. In cases of risky behavior, the system alerts both the player and the customer support team. Player behavior monitoring may soon become an industry standard, as the Saeima is expected to review amendments to the "Gambling and Lottery Law" in the fall, which includes a proposal to implement this across all companies.

This spring, the first self-help website in Latvia, was launched for individuals struggling with gambling addiction, their loved ones, and professionals. The website offers descriptions and videos on the development and symptoms of addiction, as well as information on where to seek help if gambling becomes problematic. A separate section is dedicated to co-dependency, affecting those close to addicts. The website was created and is managed by the association "Skalbes" with the support of the Latvian Association of Gaming Business (LSBA) and the Latvian Interactive Gambling Association (LIAB), both of which count Alfor as a member.

"Responsible Gaming" is integrated into the training program for Alfor customer service specialists, which employees complete before starting work, as well as in the annual certification process and the company handbook.

In June of this year, recognizing Alfor's leadership in establishing best practices, the company was invited to share its experience with participants of the Baltic and Northern European iGaming, Fintech, eSports, Artificial Intelligence, Blockchain industry summit "Mare Balticum".

According to data from a quantitative study conducted by KANTAR in October 2023 – the survey "Awareness of Gambling Brands, Client Attitudes, and Perceptions in Latvia" – 3-6% of respondents had visited the most well-known gaming halls at least once in the past year. Most people have no difficulty controlling the time and money they allocate to this form of entertainment. However, gambling addiction, which develops gradually over time if excessive engagement goes unnoticed and unaddressed, affects approximately 1% of individuals.