Gaming regulation – Page 2

January 3, 2024

Episode 25: Predictions for gaming regulation in 2024

The World Series of Politics is back from its festive break with the lowdown on what sort of regulatory progress the gaming industry can expect in 2024.

Happy new year listeners! Brendan Bussmann and Brandt Iden are back to discuss a Festivus miracle in Brazil, as well as setting out their predictions for US sports betting growth and whether 2024 will finally be the breakthrough year for US igaming.

brazil has the potential to be huge, but integrated resorts are not part of the mix

We come back after Brazil sports betting and igaming finally makes it over the finish line, giving the industry an early Christmas present. The market has potential to be huge, Brendan Bussmann says, especially after the 18% tax rate was cut to 12% of GGR.

There’s one thing missing, he adds. Integrated resorts are not part of the mix. This could bring billions in revenue into the local economy and, after the sports betting saga, we know Brazil isn’t one for rapid progress.

Regulatory predictions for 20..

December 22, 2023

Netherlands minister Weerwind announces new plans to counter problem gambling

The Netherlands minister for legal protection, Franc Weerwind, has announced new measures that he hopes will protect players from problem gambling.

Weerwind’s letter comes in response to “worrying and undesirable developments” in the Netherlands’ gambling industry. With the evaluation of the Remote Gambling Act not expected until 2024, Weerwind has decided to push on with the government’s new plans before then.

The new measures, announced on Thursday, include providers being required to contact players who have set a deposit limit of €350 (£303/$386). Operators should inform such players of the risks of gambling in such high amounts.

As reported by CasinoNieuws, Weerwind’s other proposals involve exhibiting financial amounts in euros and pushing for further research on overarching gaming limits.

In October, Weerwind announced a multi-year digital resilience campaign programme to combat fraud associated with online gambling.

In his letter, Weerwind said: “Everyone who wants to do s..

December 20, 2023

MGA publishes performance report for H1 2023

The Malta Gaming Authority (MGA) released its Interim Performance Report for H1 2023 on Tuesday 19 December.

The report studies the MGA’s achievements over the first half of the year, as well as the performance of the Maltese gaming industry as a whole.

The MGA conducted 14 compliance audits over H1, as well as 85 desktop reviews. The regulator handed out nine administrative penalties, with a total financial penalty of €124,400 (£107,697/$136,345).

The MGA also carried out 11 Compliance Examinations on behalf of the Financial Intelligence Analysis Unit (FIAU). During the same period, the FIAU imposed administrative penalties on three licensees based on violations discovered during examinations carried out in previous years. In total, these amounted to €599,420.

The MGA gave their assistance to 2,216 players who requested help, while 40 responsible gambling website checks were carried out. It issued 16 observation letters to highlight potential areas for improvement.

The MGA issued..

December 13, 2023

Brazil’s senate votes to approve sports betting – igaming removed

Brazil's senate plenary voted yesterday (12 December) to approve the amendments to Bill 3,626/2023, which will regulate sports betting. However, igaming was removed from the bill.

Originally scheduled for 6 December, the vote was delayed due to a lack of available senators to vote.

The bill was presented by Senator Angelo Coronel to the senate yesterday evening. It contained the latest round of amendments following initial approval of the bill three weeks ago by Brazil’s Economic Affairs’ Commission.

While the bill faced significant opposition, three key highlights were focused on in yesterday’s voting session.

The first, and most notable, is that the senate voted to remove igaming from the bill. The amendment was presented by Senator Carlos Portinho, with 37 votes in favour of excluding igaming and 27 against.

In addition to the exclusion of igaming, the senate also voted to exclude virtual games and sports betting terminals. An amendment that would prohibit sports betti..

November 13, 2023

Kenya Gambling Control Bill 2023 proposes new regulator and sweeping reform

Kenya has introduce a Gambling Control Bill in an effort to establish a new Gambling Regulatory Authority.

The Gambling Control Bill 2023, currently before parliament, establishes a new Gambling Regulatory Authority. Once approved, it will replace the current Betting, Control and Licensing Board (BCLB).

KENyA GAMBLING CONTROL BILL 2023 TO INTRODUCE NEW AUTHORITY

Incorporating the board’s present mandate, the new Authority will also be responsible for both licensing and regulation.

“The bill seeks to regulate betting, casinos and other forms of gambling, including the authorisation of prize competitions, public lotteries and media promotions,” the bill states.

The state-backed Gambling Control Bill is sponsored by National Assembly Majority leader Kimani Ichung’wah.

Cracking down on unlicensed and underage gambling

The newly-introduced Gambling Control Bill is designed to greatly enhance the board’s original mandate.

This follows previous statements in 2022 that the majorit..

November 10, 2023

Affordability checks: GC chief dismisses black market fears

GC chief executive Andrew Rhodes again dismissed arguments that “intrusive” affordability checks would drive customers towards the black market.

In a bid to quell the gathering storm around affordability checks, Andrew Rhodes, the Gambling Commission’s (GC) chief executive, addressed the largest-ever gathering of industry leaders on the 10 November.

Amid conflicts with stakeholders across the UK betting landscape, Rhodes looked to outline the challenges the industry faces with the implementation of the government’s Gambling Act Review white paper.

Affordability polarisation

Acknowledging the increasing polarisation within the industry, Rhodes looked to re-iterate the Commission’s impartiality as an independent regulator.

“We have clear statutory objectives and responsibilities. We don’t have a commercial interest in what happens, but that doesn’t mean we ignore commercial realities,” he said.

“The debate on gambling has been exceptionally hard to engage in during the past year. ..

November 9, 2023

Stake acquires Betfair Colombia

Cryptocurrency betting and gaming operator Stake.com has acquired Betfair Colombia, which sees the brand enter the market via the acquisition of Betfair's licence.

The licensing approval, granted by ColJuegos, the Colombia regulator, lasts until 2025.

“Expanding into the Colombia market is a strategic decision that aligns perfectly with our vision for growth and innovation,” said Brais Pena, chief strategy officer at Easygo, the founder of Stake.com.

“Colombia’s position as the first regulated market in Latin America makes it an ideal destination for Stake’s expansion, with the intention of being one of the dominant players in the market in two years.”

Plans beyond Colombia

With Stake acquiring Betfair Colombia, the operator plans for Colombia to serve as its base for growth throughout Latin America, with its current licence approved until 2025. This follows Betfair’s initial launch on the market in Latin America’s second-largest market in 2020.

In total, Coljuegos has i..

September 19, 2023

GC clashes with Racing Post over coverage of proposed risk checks

The GB Gambling Commission has published an open letter to Racing Post readers in an attempt to “clear up misunderstandings” about the ongoing consultation regarding proposed financial risk checks.

The regulator accused the racing and sports betting publication of providing readers with “imbalanced stories”. Additionally, the Commission said that the newspaper had “refused” to publish a letter from the authority responding to the coverage.

Financial risk checks – also known as affordability checks – have been one of the most contentious topics included in the Gambling Act review white paper since its publication in April.

In response to the letter, Racing Post editor Tom Kerr released a statement on X, formerly known as Twitter.

“We told the GC we were unwilling to publish a letter if it misrepresented disagreements over our coverage as errors of fact,” he wrote.

“That is precisely what this letter does. It simply repeats contentious assertions from the white paper and consultatio..

July 28, 2023

Illinois approves Hard Rock Casino sportsbook

The Illinois Gaming Board (IGB) has approved the launch of a new sportsbook at the Hard Rock Casino in Rockford.

The authority granted 815 Entertainment – doing business as Hard Rock Casino Rockford – a sports wagering operator licence. Seminole Hard Rock Digital was also approved as a sports wagering management service provider.

The casino “must comply with IGB rules before offering in-person and online wagering”, the regulator said. It is understood that the casino is hoping to begin offering sports betting within the next two months.

Read the full story on iGB North America

June 14, 2023

Gambling Related Harm APPG launches white paper inquiry

The Gambling Related Harm All-Party Parliamentary Group (APPG) has launched an inquiry into the British government’s Gambling Act white paper review.

Published in April, the long-awaited white paper covered a range of major topics regarding gambling and future regulation in Great Britain.

The APPG-led inquiry, which launched today (14 June), will assess all proposed measures put forward in the white paper. The inquiry will also seek to hold the government to account and ensure reforms are taken forward quickly.

In addition, the inquiry will ensure where commitments have been made to legislate “when parliamentary time allows”, these are pursued as a priority. These include handing greater powers to the Gambling Commission to support enforcement.

Evidence deadline

The APPG will hold a series of oral evidence sessions as part of the inquiry and also accept evidence or submissions from interested parties. Any feedback must be submitted by 11 July.

The inquiry will seek opinion on opt..

June 7, 2023

Adam Greenblatt outlines BetMGM’s path to profitability

The US sports betting and igaming market is maturing and at BetMGM Adam Greenblatt believes product is the battleground where the leaders will be decided for the market’s next phase.

Adam Greenblatt has led BetMGM, the joint venture between Entain and MGM Resorts since its formation in 2018. It is on track to achieve profitability in the second half of the year.

BetMGM is live in 20 states, as well as Washington DC and Puerto Rico and Ontario in Canada. Since 2018, it could be seen as the only business to consistently keep pace with DraftKings and FanDuel.

It didn’t have the database of the legacy daily fantasy giants. But thanks to the MGM Resorts connection (and without M&A along the way), it’s established as a top tier brand in the US.

Other brands with designs on a top tier position such as Caesars, Bally’s, Penn National and 888, have undergone significant change. They’ve acquired to grow, onboarded new tech or sought out new partners.

This may help each business close the..

January 13, 2023

New York bill would require warning in gambling ads

The state of New York has proposed a bill to amend the racing, pari-mutuel wagering and breeding law, to require all advertisements for gambling and sports betting to include warnings on the potential harm of gambling.

The bill, introduced into the State Senate by Democratic senators Leroy Comrie and Luis R Sepúlveda, has not yet been voted on.

Specifically, the amendment “requires all advertisements for gambling and sports betting to include warnings about the potential harmful and addictive effects of gambling; requires the state gaming commission to cooperate with the commissioner of addiction services and supports to ensure that all advertisements for gaming activity state a problem gambling hotline number”.

The amendment also proposes to include mobile sports wagering licences into the advertisement requirement.

If the motion passes, it will take effect sixteen days after it becomes a law.

Ohio marketing violations

As part of its regulations when it legalised sports bett..

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Tag: Gaming regulation