Good morning. Rolling Stones guitarist Keith Richards famously insured his hands for $1.6 million, placing a value on the necessary tools for his craft. For iGaming operators, this level of forethought is absolutely essential, particularly given how frequent and complex digital attacks are becoming and the scope of their impact. A top expert breaks down the current insurance landscape, pricing and coverage to safeguard against future problems. Meanwhile, in land-based news, Singapore’s February tourism saw a strong boost from Chinese New Year, with visitation hitting 1.5 million, as Chinese visitors flooded back into the Merlion city.
Online gaming operators are facing a unique mix of digital, financial, regulatory and operational exposures. A top expert highlights how recent cloud outages laid bare the necessity for comprehensive insurance portfolios, breaking down pricing trends, market developments and insurer strategies for iGaming companies to best navigate the ever-evolving landscape.
Aristocrat Gaming is inviting customers to the Australian Hospitality & Gaming Expo (AHG) on 25–26 March at the Brisbane Convention & Exhibition Centre, where stand 1 will showcase its brand‑new ANZ content line‑up supported by the show‑stopping Baron Upright.
Demonstrating the continued growth of their portfolio for clubs, hotels, and casinos across ANZ, Aristocrat Gaming will have a broad line-up of new games for this region. Players will be delighted with the new entertainment options, whilst giving customers a competitive edge in a very strong hospitality market.
“Our studio teams here in Australia, and across the world, have been focused on delivering ANZ-first content for players, and we’re incredibly proud to show that to customers at the expo” said David Ronson, Managing Director Aristocrat Gaming ANZ.
“There are now also over 10,000 Baron Upright cabinets across Australia and New Zealand and we can’t wait to continue building that momentum with an exciting lineup of new content for our customers that drive their business forward”, added David.
Cash Express Legend and Dragon Vault are two new games launching at the show, accompanied by Cash Horns and Jackpot Tales – two new game families that were released in late February.
Highlights of the content line-up at AHG 2026 include:
Cash Express Legend – Reimagines our classic game theme with all new trains and games. The iconic train feature returns, but it’s enhanced with four trains, new jackpots, plus Repeat Win, and feature-in-feature Hold & Spin.
Dragon Vault – A strong game in North America, this game has been re-designed for the Australian player with stunning Asian themed games. The symbol-driven ‘Overlapping Bonuses’ feature enables Hold & Spin upgrades.
Cash Horns – A rampagingly good game featuring charging bulls, it features easy-to-follow game play, and multi-level Hold and Spin.
Jackpot Tales – Combines all-time classic stories with up-to-date game play for an exciting experience where players take on a quest for golden treasure chests.
With an ever-expanding portfolio, Aristocrat Gaming is also proud to continue to support the existing fleet, including new games for Heaven and Earth as well as Thunder Empire X, all of which will be on display at the expo.
The Gaming Systems business from Aristocrat Interactive will also showcase how it is innovating the patron experience. It provides venues with a powerful, all-in-one platform for player engagement, promotions, membership management, and real-time gaming performance reporting. It’s designed for scalability to enable venues to seamlessly add modules to suit the growth of their business.
While technology is advancing quickly, new avenues are emerging for bad actors to exploit vulnerabilities in the gaming sector even as operators’ improve their levels of preparedness. This piece by top insurance expert Aman Pal Singh breaks down what the online gaming sector needs to be watching out for and how to get the best coverage for every eventuality.
Aman Pal Singh, MD & CEO, B4E Insurtech
In October 2025, Amazon Web Services (AWS) suffered one of the most impactful cloud outages yet, freezing digital operations for thousands of platforms – including sports betting, casinos, and iGaming providers – across Asia and globally.
This incident, along with similar disruptions from Google Cloud and Azure in the preceding months, has forced online gambling operators to confront a dual reality: ever-growing digital opportunities, paired with new risk exposures that require sophisticated insurance and resilience strategies.
This article offers a comprehensive overview of the insurance landscape for gaming companies, analyzes how coverage and pricing have evolved, and sheds light on how insurers are responding to today’s risks – especially in regulated, unregulated, and grey market segments.
Core insurance needs in online gambling
Online gambling operators face a unique mix of digital, financial, regulatory, and operational exposures. Their insurance portfolios commonly include:
Cyber Insurance: The foundation for most gaming firms, covering data breaches, DDoS attacks, ransomware, and now, business interruption caused by service provider outages.
Professional Indemnity (Errors & Omissions): Protection against losses from payout errors, tech glitches, and miscalculated odds in automated platforms.
Business Interruption: Critical for firms relying on real-time transaction flows, it covers lost income from downtime, whether due to cyber events or cloud service failures.
Regulatory Investigation and Compliance Insurance: Covers legal and financial costs arising from audits, fines, or enforcement actions across multiple jurisdictions.
Directors & Officers (D&O) Liability: Shields senior leaders from mismanagement claims, regulatory investigations, and other governance risks—becoming essential as board accountability rises and requirements tighten post-pandemic.
Crime Insurance: Mitigates exposure to payment fraud, internal theft, or collusion, with the added challenge of cryptocurrency risk in many markets.
Coverage for “grey market” operators
Operators serving countries with ambiguous regulatory environments face heightened risk. Traditional insurers often exclude unlicensed or offshore business, but a growing pool of specialty underwriters now crafts coverage for grey market firms, provided they maintain robust Know Your Customer (KYC), anti-money laundering (AML), and compliance frameworks. Enhanced disclosure and jurisdiction-specific clauses allow for tailored risk transfer, reflecting an evolving insurance landscape responsive to global gaming revenue streams.
Pricing trends and market developments (2023-2025)
Premium trends across core insurance products reveal distinct patterns driven by claims data, regulatory change, and systemic risk modeling.
Cyber Insurance
After surges in 2021-2023 amid global ransomware waves, overall premiums for large gaming operators have stabilized. Firms demonstrating strong incident response, cloud redundancy, and robust endpoint security saw reductions of 5-15 percent in 2025. Policies now include explicit sub-limits for cloud outage-driven business interruption claims – a direct response to the AWS and Google incidents.
Professional Indemnity & Regulatory Coverage
Rates remain flat in most mature jurisdictions but spiked by 7-12 percent for operators with recent regulatory enforcement actions or AI algorithm deployment errors. Market competition and increased risk transparency mitigate broader increases.
Crime & Transaction Fraud Insurance
Slight premium increases (3-7 percent) persist due to the rise in sophisticated payment fraud and crypto-related scams. Data-driven underwriting is now standard for risk assessment.
D&O Insurance
The sector benefits from a competitive global market, with premium drops averaging 5 percent. Coverage is growing in scope, including ESG-related claims and entity investigations, although Asian operators submitting robust governance and corporate transparency enjoy the most favorable terms.
Grey Market Coverage
Pricing for unregulated or semi-regulated operators differs widely, running 20-80 percent higher than rates for licensed firms. Underwriting is individualized, with risk assessments based on compliance posture, payment handling, and jurisdictional clarity.
Risk management – insurer strategies for the Digital Era
Insurers are now embedding advanced risk engineering and systemic risk controls into product design and underwriting. For gaming firms – where downtime during peak betting or live casino events hits revenues instantly – the following approaches are becoming standard:
Dependency Mapping
Underwriters demand detailed reporting on cloud and tech vendor dependencies. Firms overexposed to a single provider, such as AWS, face higher premiums and stricter terms.
Aggregation Control and Scenario Modeling
Carriers model cloud outages as systemic events, capping total exposure to any single cloud operator. “Failure stress tests” and scenario planning are essential to policy renewal.
Contingent Business Interruption (CBI)
Coverage validating the impact of outages far beyond the insured’s own systems – essential for gaming firms structurally reliant on outsourced cloud infrastructure.
Reinsurance Pools
Large insurers increasingly aggregate gaming clients within cyber reinsurance treaties, ensuring risk dilution when multiple claims arise from a single cloud event.
Cloud Outage Exclusions and Sub-limits
Policies now include precise wording regarding what constitutes a covered outage, the role of major cloud service providers, and claims protocols.
Emerging Trends – AI, ESG, and Alternative Risk Transfer
Operators deploying advanced AI algorithms for odds making and risk management encounter new regulatory and insurance scrutiny. D&O underwriters increasingly focus on AI governance and auditability, aligning coverage with the standards applied to fintech and Insurtech sectors – the requirement to “show your math” now extends to casino AI.
Environmental, Social, and Governance (ESG) factors play a growing role, especially in cross-border operations. Policies may include coverage triggers related to ESG-related board actions, reputational events, and corporate social responsibility disclosures. Interest in captives – internal insurance subsidiaries – continues to grow for multinational gaming conglomerates seeking flexibility and cost control. This approach is ideal for retaining predictable risks (e.g., low-severity downtime events) while transferring tail risks to external reinsurers.
Making resilience a competitive advantage
The October 2025 AWS outage demonstrated that even the best-run gaming operations can be blindsided by third-party cloud failures. Yet firms that combine technical redundancy – multi-cloud strategies, hot backups, automated switchovers – with holistic insurance portfolios emerge as sector leaders, capable of minimizing operational and reputational fallout.
“Insurers, meanwhile, are evolving from product sellers into risk architects, working with gaming companies to align digital infrastructure, regulatory strategy, and financial resilience in an interconnected ecosystem.“
To conclude, Online gambling and iGaming are defined by their reliance on digital infrastructure and real-time transactions. To thrive and grow, operators must build adaptive insurance coverages backed by technical resilience and strong governance. The lessons from recent cloud outages – especially in the Asia-Pacific context – highlight the need for proactive risk management and partnership with forward-thinking insurers.
For executives, boards, underwriters, and regulators alike, the future of gaming insurance lies at the intersection of technology, market innovation, regulatory responsibility, and risk intelligence – where resilience is not just a requirement, but a competitive advantage.
Aman Pal Singh is the Founder, Managing Director & CEO of B4E Insurtech Inc. and Benefits for Expats Inc., advancing digital transformation across global insurance markets.
Singapore saw a significant uptick in visitation in February, with international arrivals up by 9 percent yearly to 1.5 million, boosted by strong visitation from China.
Chinese visitors continued to be the largest source market for Singapore, with the February figure reaching 432,330, a yearly increase of 61.3 percent.
The data from the Singapore Tourism Board highlight the city’s attractiveness to Chinese visitors during the Lunar New Year holiday, which this year fell fully in the month of February.
In positive support of the Merlion city’s push to increase spending by visitors, the number of overnight stays increased by 6.2 percent yearly to 1.11 million. However, the average length of stay registered a slight decline of 2.3 percent year-on-year to 3.38 days.
The figures for February hotel occupancy are not yet available, but the average rate in January was 81.17 percent, a slight decline of 0.6 percent yearly, with the average room rate down by just 0.4 percent to SG$271.45 ($ ).
While Chinese visitors were the primary market by far in February, other gaming jurisdictions contributed to international visitation, albeit less than in the same month of 2025.
Johor–Singapore Causeway
Visitors from Malaysia totaled 901,210 – a yearly decrease of 14.7 percent, while Australian visitation was close – at 80,750, falling by 5 percent year-on-year. South Korean visitor numbers also decreased, by 9.1 percent and India visitation figures saw a 13.1 percent fall to 65,040.
Given Malaysia’s proximity, its visitors stayed for the shortest period in the Merlion city – only 1.9 days on average. Visitors from South Korea stayed slightly longer, at 2.71 days, while those from Australia lingered for 2.87 days. Chinese visitors averaged stays of 3.69 days, while Indian tourists stayed significantly longer, with average trips lasting 6.22 days.
Visitation from the Philippines was significantly down by 10.5 percent yearly in February to just 441,910, however visitors stayed an average of 4.35 days in Singapore.
Doubling down on tourism
The strong uptick in Chinese visitation was a heady relief for Singapore, after tourism arrivals in January from the source market dropped by 27.8 percent year-on-year to 271,950, with a significant 25.5 percent fall in overnight visitors to just 192.040 and the average length of stay down by 4.5 percent to 3.5 days.
While it has yet to release its full-year tourism receipts, the Asian travel hub boasted its highest-ever tourism receipts in the January-September period last year, rising by 6.5 percent to SG$23.9 billion ($18.82 billion).
Authorities have targeted tourism receipts of between SG$29 billion ($22.83 billion) and SG$30.5 billion ($24.01 billion) for 2025, aiming to leverage new and revamped offerings, including those by its two integrated resorts operators: Marina Bay Sands and Resorts World Sentosa.
Singapore Tourism Board’s Chief Executive Melissa Ow had previously indicated that Singapore is shifting its focus towards “distinctive experiences” by developing a “strong pipeline of differentiated products, events, and experiences”.
And the city has a strong bank of hotel rooms to support its events calendar – with over 73,000 hotel rooms spread across 450 properties, with the industry contributing about 20 percent of the total tourism receipts in the nine-month period in 2025.
Marina Bay Sands is also undergoing an $8 billion expansion to increase its hotel rooms and entertainment. A new hotel tower will bring an additional 570 suites into its portfolio, along with a 15,000-seat arena. Genting Singapore is also aiming for a “new” Resorts World Sentosa, using 2026 as a testing period to reposition itself as an experience-based destination to attract new and repeat visitors that stay longer.
Philippine government agencies are strengthening interagency coordination to combat illegal online gambling and digital organized crime.
As reported by the Philippine News Agency, the Cybercrime Investigation and Coordinating Center (CICC) on Monday formalized a partnership with the Presidential Anti-Organized Crime Commission (PAOCC) to intensify efforts against illicit online gambling operations and other cyber-enabled criminal activities.
Under the collaboration, the CICC will support the PAOCC – the country’s lead body for investigating and prosecuting organized crime – by preparing comprehensive case files to support investigations and legal action against criminal groups. The agency will also conduct digital forensics work and spearhead efforts to block illegal gambling websites and online content linked to organized crime networks.
Authorities said the partnership signals a broader push to dismantle illegal online gambling activity in the country’s digital space. Officials have noted that organized criminal groups have increasingly used online platforms to run illicit gambling services and related cybercrime activities.
The partnership with the PAOCC is part of a wider government coordination framework aimed at addressing illegal online gambling, in the wake of the ban on Philippine Offshore Gaming Operators (POGOs).
The CICC has also established joint initiatives with several agencies and organizations, including the Philippine National Police–Anti-Cybercrime Group (PNP-ACG), the Philippine Amusement and Gaming Corporation (PAGCOR), and the civil society group Digital Pinoys; to strengthen enforcement against illegal gambling operators and their online promoters.
Earlier this month, the CICC also launched a joint initiative with Digital Pinoys to document and verify illegal gambling websites, applications, and promotional networks over a one-month period. Findings from the initiative have been submitted to the PNP-ACG, with suspects expected to face charges under the Cybercrime Prevention Act of 2012 as well as other potential offenses, including syndicated estafa.
Sri Lanka is looking to strengthen its gaming industry as part of a broader strategy to enhance tourism and position the country as a regional hub for gaming innovation, according to remarks by Deputy Tourism Minister Ruwan Ranasinghe reported by local media outlet EconomyNext.
Speaking at the opening of the two-day Global Game Connect (GGC) 2026 summit in Colombo on Monday, March 16th, Ranasinghe said the government aims to develop the capital into a hub for gaming technology and investment, with support from international industry players, including firms from China.
“We are positioning Colombo and Sri Lanka as a hub for the next wave of technological innovation and the gaming industry in this region,” Ranasinghe said during the opening session of the event held at Cinnamon Life, in the City of Dreams Sri Lanka complex.
Ranasinghe said the government is seeking to create a regulatory and technological environment that supports innovation in the sector.
Sri Lanka’s gaming and integrated resort sector has evolved in recent years from a collection of small-scale clubs into a rapidly growing segment of the tourism industry. Authorities see the sector as a way to attract high-value visitors and increase tourism-related investment.
Ranasinghe noted that Sri Lanka’s geographic proximity to India provides access to one of the fastest-growing gaming markets in South Asia.
“We have significant potential for industries like this, particularly for the growing markets next to us, like India. We can accommodate Sri Lanka as a platform for growing enterprises,” he said.
The government also views industry events as an effective way to attract business travelers and highlight Colombo as a destination for both tourism and investment.
A key milestone for the gaming sector was the 2025 opening of the $1.2 billion City of Dreams Sri Lanka in Colombo, which helped position the island as a potential gaming destination for affluent South Asian travelers, particularly from India.
Authorities expect the expanding gaming sector to support broader tourism targets, including a goal of reaching 3 million international arrivals in 2026. Industry growth is also reflected in projections of around $250 million in annual revenue and a significant contribution to government tax income, with the relevant tax rate recently increased to 18 percent to strengthen national reserves.
Push Gaming is strengthening its expansion into the Latin American markets with the appointment of Marcieli Pelizzaro as Head of Region.
Marcieli joins Push Gaming with 6+ years of experience in the igaming sector, most recently as the LATAM regional manager for Ruby Play. Her appointment further solidifies Push Gaming’s focus on expanding its portfolio into the Latin American markets following its launch into the Brazilian market in 2025.
Marcieli Pelizzaro, Head of Latin America at Push Gaming, stated about taking on the role: “LATAM represents one of our most exciting growth opportunities, and I’m thrilled to be investing further in the region alongside Push Gaming. We’re committed to growing alongside our customers and partners through a strong local presence and a long-term vision. We’re just getting started, with much more innovation, investment, and opportunity ahead”.
Alistair Johnston, CCO at Push Gaming, expressed excitement about Push Gaming’s continued expansion, stating, “I am thrilled to welcome Marcieli as Push Gaming’s first Head of LatAm. Based in Brazil, she will be instrumental in establishing a specialized team and leading our expansion across this diverse and exciting continent. Marcieli brings invaluable experience in establishing suppliers within the region and a deep understanding of its unique regulatory and cultural nuances. Her leadership ensures that Push Gaming is perfectly positioned to capitalize on the immense opportunities that LatAm has to offer.”
RubyPlay has strengthened its presence in the South African market through a new partnership with Hollywoodbets, bringing popular titles such as Elephant Stampede SE, Diamond Explosion 7s, and Mayan Cache to players nationwide.
RubyPlay has already built a strong reputation in South Africa since entering the market in 2023, delivering high-performing, localised content tailored to diverse player preferences.
Founded in 1986, as a racing publication business, Hollywoodbets is a long-established South African operator that expanded into bookmaking with the opening of its first branch in 2000.
Since then, it has been serving players in one of the continent’s biggest betting markets, offering its growing customer base a comprehensive portfolio of slots, live casino and sports betting content from leading global providers.
Dr. Eyal Loz, Chief Product Officer at RubyPlay, said: “Hollywoodbets is a partner that truly understands the South African market, so this collaboration feels like a natural fit. Since launching in the region, we’ve seen strong demand for games that reflect local tastes and playing habits, and this partnership allows us to extend that even further. The leading operator shares our commitment to delivering high-quality, responsible gaming experiences, and we look forward to experiencing what this partnership has in store.”
By combining RubyPlay’s distinctive game design and innovative mechanics with Hollywoodbets’ established market reach, the partnership delivers a compelling entertainment experience for South African players.
Wayde Dorkin, Head of Product at Hollywoodbets, added: “RubyPlay has become a standout content provider in South Africa, delivering games that resonate strongly with our local players. Their focus on innovative features and tailored gameplay aligns well with our goal of offering world-class entertainment. We’re delighted to welcome RubyPlay’s top titles to our platform and look forward to building on this partnership to bring even more value to our players.”
Pragmatic Play, the iGaming content supplier powerhouse, has released its latest title, CULT., where players can uncover wins of up to 10,000x through powerful multiplier wilds.
Faithful followers gather round their enlightened leader on the 5×4 grid, where matching five symbols on a payline can deliver base game wins of up to 20x, and multiplier wilds of up to 100x can elevate payouts.
Landing 3-5 all-seeing eye scatters triggers the bonus game with an initial 10-20 free spins. During the feature, multiplier wilds that contribute to winning combinations are added to a total multiplier, which boosts all subsequent wins that include a multiplier wild.
In select markets, special bets enable players to customise their gameplay experience, with a 5x Ante Bet increasing the likelihood of activating free spins and a 10x Super Spin guaranteeing a multiplier wild on every spin.
Two bonus buys grant immediate entry to either Free Spins or Super Free Spins, with the latter boosting the chance of hitting a multiplier wild on every spin.
CULT. signals a new thematic direction for Pragmatic Play’s premium portfolio, following the recent release of mining-themed slot Rolling in Treasures and arcade game Spire+.
Sharon McHugh, Director of Public Relations at Pragmatic Play, said: “There is a growing appetite for more unconventional themes in iGaming. CULT. leans into that trend with a bold theme and exciting gameplay, delivering special bets, multiplier wilds, and 10,000x win potential for the initiated.”
The tier 1 B2B sportsbook supplier, BETBY, has reinforced its commitment to Latin America with the appointment of Gonzalo Navarro as Senior Business Development Manager.
Navarro joins BETBY with a strong commercial background in the iGaming and technology sectors, bringing extensive experience in B2B sales, strategic partnerships, and business development across Latin America.
Prior to joining BETBY, he held senior commercial roles at Vibra Gaming and Control F5, where he was responsible for driving growth initiatives, expanding market presence, and developing relationships with key operators and partners throughout the region.
With deep knowledge of the Latin American iGaming landscape and an established network across the industry, Navarro will focus on expanding BETBY’s footprint in the region, strengthening partnerships, and identifying new growth opportunities as the provider continues its global expansion.
Gonzalo Navarro, Senior Business Development Manager at BETBY, commented: “I’m thrilled to be joining BETBY at such an exciting stage of its growth. The company has built a truly impressive sportsbook product, and LATAM is a region full of opportunities. I look forward to working with the team to strengthen BETBY’s presence and build long-term partnerships with operators across the region.”
In his new role, Navarro will work closely with BETBY’s commercial team to further accelerate the supplier’s presence in LATAM, supporting operators with BETBY’s award-winning sportsbook solution and innovative product offering.
Chris Nikolopoulos, Chief Commercial Officer at BETBY, added: “Gonzalo’s experience and deep understanding of the Latin American market make him a valuable addition to our commercial team. His strong industry relationships and proven track record in business development will play an important role as we continue to expand our presence across LATAM.”
