The SBC News team are live on the ground for the second day of the SBC Summit. Stay tuned to this blog for the latest updates from the SBC News team on the ground at Lisbon – Ted Orme-Claye, Patrick Killeen and Ted Menmuir – as well as our colleagues at iGaming Expert.
1:00pm: AI connectivity fuels new criteria of IT threats
Across all-areas of igaming’s value-chain cybersecurity risk are expanding as cloud services, APIs, third parties, payments, and identity systems widen the “attack surface and increase potential blast radius.”
IT threats are compounding as igaming platforms are built on interconnected systems and a dependence on major cloud providers such as AWS, Google, and Microsoft. Though systems provide a layer of comfort, experts view too many “limited strategies” when confronting major attacks
“The actual threats and the actual methods haven’t really changed. It’s just the speed and the economy of making an attack has changed,” explained Justin Cosnett, CPO at Continent 8.
Ai Automated bots, phishing and accessible tools allow criminals to launch campaigns at lower cost, while interconnected platforms create more opportunities to compromise operators and suppliers.
Piotr Lisak, COO at Q Securities, argued that accessibility matters as much as technical sophistication.
“It’s just the scale and ease of access to the tools which enable organising these attacks,” he said, highlighting social engineering as a persistent vulnerability.
Employees therefore remain central to security, as criminals seek to manipulate people into sharing information or granting access.
The panel also challenged treating cybersecurity and fraud as separate disciplines. Breaches can enable stolen customer information, account abuse and financial crime.
“Cyber and fraud aren’t two separate things that you need to protect against,” Cosnett stated.
For Ian Perrygrove, Chief Risk Officer at Kwiff, businesses must equip security specialists with sufficient resources while retaining accountability.
“We cannot delegate our responsibility to AI,” he stressed. “It is a support mechanism for everyone, good and bad.”
12:40pm: How much money do you think you can save in this piggy bank?
12:30pm: Champagne to celebrate in style
Have you booked your hotels for next year yet? Just kidding, we know it’s only been 10 minutes since we announced our landmark partnership with the Mayor of Lisbon.
It doesn’t stop us from opening a bottle of champagne, though! Our Founder and CEO, Rasmus Sojmark, and Lisbon Mayor Moedas are sipping from their glasses as they envision all the opportunities that await over the next three years.
“Lisbon is an amazing city,” Sojmark says. “Looking forward to being here for many many years to come.”
Cheers to that!
12:25pm: Has Gibraltar solved prediction markets’ ambiguity problem?
Reporting by Ted-Orme Claye
The future of prediction markets will hinge heavily on when and how the debate about which “side of the line”, as the moderator today has put it, is decided. Are they financial services, or gambling?
Andrew Lyman is confident Gibraltar has got the closest to solving this problem out of any other jurisdiction.
“None of us can escape the fact there is ambiguity in this,” he says.
“You can deal with it in a positive way or a negative way, and just continue the debate about which side of the line prediction markets fall.
“What we’ve hopefully achieved in Gibraltar is to some extent is to solve that ambiguity.”
12:20pm: It’s official! SBC Summit Lisbon returns next year
BIG NEWS!
Our very own Founder and CEO, Rasmus Sojmark, has put pen to paper with Lisbon Mayor Carlos Moedas, for what is a long-term agreement to secure the annual return of SBC Summit to Lisbon until 2030! Better start booking those hotels.
12:00pm: The risks of swimming against the tide
Reporting by Ted-Orme Claye
Prediction markets are only going to keep growing, driven by consumer demand, argues Andrew Lyman, the Gibraltar government’s Gambling Commissioner.
He argues that regulators need to take note and ensure the growing sector does not fall into the black and grey markets. He welcomes other jurisdictions to follow Gibraltar’s lead, with the territory launching the world’s first standalone predictions market regime earlier this year.
“If you are in denial and you want to ban or block, then you are fighting against the tide of consumers who really want this product. Therefore it’s much better to regulate than to ban or block.”
Meanwhile, Charles Mizzi, CEO of the Malta Gaming Authority, is confident that its current regulator framework accommodates prediction markets. He states that many operators are expressing interest in a licence on the island.
“They are applying,” he says. “There is a lot of interest. Over the last months, we’ve seen huge interest from operators. We’ve had a lot of discussions with them.”
11:45am lines drawn on prediction markets customers
Reporting by Ted-Orme Claye
We all know how big prediction markets have gotten – Kalshi is eyeing up an eye watering valuation of $50bn – but the debate about how they should be classed, and how their customers should be classed, rages on.
As the first full panel of the Global Prediction Market Forum gets underway, the difference of opinion is drawn early on as Zach Doctor, Cofounder & CEO of WagerWire, Andrew Lyman, Gibraltar Gambling Commissioner, and Terence Cassar, Partner at GTG, state that they view prediction markets customers as “traders not bettors”.
Charles Mizzi, CEO of the Malta Gaming Authority (MGA), however, firmly views them as bettors.
11:31am: Prediction markets in the UK – an inevitability?
Reporting by Ted-Orme Claye
Martyn Elliott believes that the UK will eventually regulate prediction markets in some form, if only for institutional investors. The simple reason for this is economics.
“Eventually it will definitely happen,” he says. “The financial industry is so important to the UK economy that the government wants it to be as competitive as possible.”
However, the prospects of the EU accepting Kalshi’s model of prediction markets are not looking as strong. Sports contracts in particular are widely seen as betting products by European regulators.
11:30am: Where do Latam opportunities exist after “hard week for all”?
Reporting by Patrick Killeen
Zeno Ossko, CEO of BetWarrior puts it lightly when describing the emotions of businesses active across Latin America, saying “it’s a hard week for all of us”.
The ban in Brazil, however, has made Ossko wary about whether similar situations may arise across other Latam countries.
He comments: “We are all very focused on the rest of the Latam markets to see what regulatory changes may happen next.”
In terms of where in Latin America to target, Juana Bischoff, Head of Latam at Oddin.gg, doesn’t have a specific country – but a specific niche.
“Esports is definitely something you should focus on because the expansion and the potential is there,” she says.
“We work with different operators in Latin America, and one of them is operating in Peru, and there the sport grew by 92% year-over-year, so the opportunity is there.
“When it comes to expansion, when it comes to player acquisition, I invite everybody to target this group.”
11:15am: the Global Prediction Markets Forum gets underway
Reporting by Ted-Orme Claye
Martyn Elliott, SBC Insights Director, kicks off the Global Prediction Market Forum.
The rapidly growing and ever controversial products are high on the agenda on the third day of the SBC Summit, and Elliott notes that governments, regulators, and probably people within this very room, are constantly changing their minds about the product.
Summarising his and his team’s research into the sector, Elliott remarks that despite the regulatory uncertainty around them, prediction markets are undeniably here to stay, with the emergence of sports events contracts cementing the platforms’ status.
“This is not just the allure of the new, these customers are sticking around and are not just going to drift back to sportsbooks,” he says.
10:30am: VNLOK’s Meta lawsuit gets the iGD treatment
Ted Menmuir and Ted Orme-Claye join iGaming Daily host Fernando Noodt and producer Anaya McDonald to discuss news coming out of the Netherlands – the news that VNLOK, the country’s biggest betting industry trade body, is taking big tech giant Meta to court.
VNLOK and others allege that Meta is failing in its duties due to the amount of advertising by illegal gambling platforms that takes place on its platforms. People who checked out yesterday’s coverage will be all too aware of how much discourse this is driving right now, with big tech firms the subject of fiery debate on the conference stages.
10:00am: It’s almost over, make it last!
Time sure flies when you’re having fun! We’re already in the last day of our event, and what an event it’s been!
From pop-rock concerts (shout out to The Script), to sports stars like Michael Jordan, Charles Oliveira and Niklas Süle, to high-stake debates about global gambling regulations.
Also, congratulations to all the winners in our Affiliate Leaders Awards competition! You all deserve it, keep being awesome!
After all of that, could it get better? Of course it can! Our Prediction Markets Conference takes place today. You can find a link to that in the LinkedIn post below.
To close off the day, we’ve got our SBC Awards lined up for tonight, starting at 6:30pm at the MEO Arena and hosted by Dutch football legend Edgar Davids.
And to end it all with a bang, our flagship INFINITY closing party starts at 8pm, headlined by the EDM legend himself, Tiësto!
Don’t forget to come back to this live blog to follow all other highlights from the final day of SBC Summit Lisbon 2026. See you on the show floor!