There has been a new CEO of the Gaming Compliance International (GCI) appointed and he is already a well known name in the sports integrity department. Matt Holt is the founder and former CEO of US Integrity (IC360) which is a company that spots suspicious betting activity. They would work with leagues, regulators and operators.
Holt has also previously worked as the COO of Cantor Gaming, where he helped launch Nevada’s first first mobile betting app.
The decision to take the position at GCI was an easy one Holt said with one of the main reasons being its AI-powered compliance technology. The platform can analyze billions of transactions a day of betting activity which helps regulators flag, black market activity, fraud as well as other high risks.
MegaXcess, which is GCI’s parent company, has used this technology to cut illegal online gambling in the Philippines by a staggering 84% in two years.
The tools that GCI uses can track black market gambling sites by monitoring their odds feeds, payments, game providers and advertising. This is a fantastic tool Holt explained which allows regulators to either disrupt and ideally shut down unlicensed sites or guide them towards a legal license. Another tool they have is automated auditing which gives governments better transparency and tax collection.
Tackling illegal gambling is integral to protecting the regulated markets. Holt noted how criminals are often disguising betting patterns (beards) by moving activity between illegal platforms as well as legal ones which raises integrity concerns. The high speck tools we have regulators have are able to fight back.
The leader of sports betting compliance is relishing the new position and GCI’s COO Ross Anderson said that Holt’s experience in identifying suspicious betting in NCAA Basketball games as well as other great experience gives the company a “decided advantage” as it expands globally with its tech-driven approach.