Legal & compliance – Page 5

July 22, 2024

In Macau, most suspects bail out in illegal sports betting case

Prosecutors in Macau have indicted 59 people swept up in a sports betting sting earlier this month. All but two have been released on bail. The illicit operation purportedly reaped millions per week during the recent UEFA Euro 2024 tournament.
The Macau Public Prosecutions Office has indicted 59 people allegedly involved in an online sports betting ring. Two of the defendants remain under pre-trial detention. The rest have been released on bail, with orders not to leave the city.

A total of 93 people were arrested in the 2 July sting in Macau, Hong Kong and Guangdong. Police seized MOP88.4m (£8.5m/€196.2m/US$11m) in cash and froze bank accounts containing MOP22.1m.

The websites, based outside Macau, took bets on football and basketball games. They reportedly generated about MOP72m per week during the recent UEFA Euro 2024 tournament.

Authorities estimate the illegal operation has pulled in more than MOP1.08bn since 2016.

Online gambling is illegal everywhere in China, including M..

July 15, 2024

Weekend Report: DraftKings to divest VSiN, Bermuda’s banks slow casino launch and more

Welcome to the Weekend Report, where iGB covers the news you may have missed over Friday, Saturday and Sunday. This week we’ve got news of DraftKings cashing out of its big media bet, Bermuda’s casinos struggling for acceptance in the banking sector and more.

DraftKings turns off VSiN?

DraftKings could be preparing to sell off its sports betting media specialist Vegas Sports Information Network (VSiN), according to Eilers & Krejcik Gaming.

Original owner Brent Musburger is allegedly set to take back control of the TV and radio network, which was acquired by DraftKings for $70m back in 2021. Active since 2017, VSiN broadcasts 18 hours of content a day, across multiple markets and streaming platforms, at one time showing Betting Across America, a BetMGM-backed sports betting programme.

While the sale is not confirmed it would take a significant media asset out of DraftKings’ stable, although it still maintains a distribution deal with Meadowlark Media, as well as its own streaming..

July 8, 2024

Weekend Report: Labour win’s impact on gambling, FanDuel thriving in NY

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

New Labour government brings gambling uncertainty

Thursday’s (4 July) UK general election brought with it a significant shift in power as Labour claimed a huge majority. This ended a 14-year reign by the Conservatives and led to a major overhaul of key parliamentary personnel.

Lisa Nandy MP, who has taken over as the new secretary of state for culture, media and sport, will be charged with overseeing Britain’s gambling industry. On the World Series of Politics podcast prior to the election this week, Regulus Partners’ Dan Waugh outlined how a Labour government could impact the gambling industry.

“In terms of whether it has a major bearing on the gambling market, it’s unclear,” Waugh said. “From an industry perspective, it looks reasonably comforting. Labour is making some fairly positive noises about this.

“I’m not sure it’s that straightforward and the reason I say th..

July 8, 2024

What’s behind the slow uptake in Brazil online betting licences?

Brazil is expected to announce its final online wagering regulations in July, but so far only one licence application has been submitted to the regulator. The market has been buzzing with excitement since the window opened on 21 May, so when will the rest of the applications flood in?

The opening of the licensing window marked a crucial milestone in the hotly anticipated legalisation of betting in Brazil, which is expected to become a $9bn (£7bn/€8.3bn) market by 2028, H2 Gambling Capital has estimated.

Fellipe Fraga, chief business officer at local operator EstrelaBet, predicts operators may be waiting for the final regulations to drop in July before formally applying for a licence.

“There are still important topics that need to be discussed in the process of obtaining the licence,” he says.

“The remaining ordinances will contribute to the definition of the strategies that companies will adopt in the regulatory process.”

Fraga says EstrelaBet is seeking further explanation from ..

July 1, 2024

Weekend Report: PH senator pushes POGO ban, FanDuel’s strong week in NY and more

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days. This week we cover POGOs in the Philippines, as well as stopping off in New York, New Hampshire, Thailand and Brazil.

Philippine senator renews call for online gambling ban

Philippines Senator Joel Villanueva is pushing for his 2022 legislation banning Philippine Offshore Gaming Operators (POGOs) and all forms of online gambling to progress through the country’s legislature.

First filed in September 2022, Villanueva’s Senate Bill 1281 aims to repeal all legislation granting the power to regulate online gambling and criminalise the vertical. Those found to have placed, received or otherwise unknowingly transmitted a bet or wager online would face either a prison sentence of up to six months or a fine of PHP500,000 (£6,736.74/€7,943.75/8,524.33).

Villanueva urges PAGCOR to intensify investigation on POGOs and other forms of online gamblinghttps://t.co/dDChQ5jZSZ
— DZRH..

June 26, 2024

Betsson secures betting and igaming licences in Peru

Online gambling operator Betsson today said it has secured a licence to operate the Betsafe and Bettson brands in the newly regulated Peru market.

The licences cover online casino and sports betting for both brands and Betsson expects to also soon obtain approval for its Peru-facing Inkabet business.

Betsson has had a presence in Peru since 2008. In 2019, it expanded its reach in the country by launching its Betsafe brand. Two years later, it also acquired locally-licensed online betting and sports brand Inkabet for $25m.

Regulation of the Peru market earlier this year meant Betsson had to secure full licence approval to continue operating in the country. Law no 31557, which regulates online gaming and sports betting, went into effect on 9 February.

Operators had until 10 March to apply for a licence. Peru’s ministry of foreign trade and tourism received 145 requests for operator licences from both national and international operators.

“We have really looked forward to Peru introd..

June 10, 2024

Weekend Report: Rhode Island credit limit potentially on the rise

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

Rhode Island credit limit potentially doubling

On Thursday (6 June), the Rhode Island senate voted to increase the outstanding credit per player to $100,000 (£78,697/€92,973). The house is now expected to review the bill this week.

The amended bill passed with a vote of 28-5 to raise the limit from the previous $50,000 which had been in place since 2014.

Igaming launched in Rhode Island in March. Bally’s Corporation essentially has a monopoly on igaming in Rhode Island following state legislators’ 2021 approval of a 20-year contract for Bally’s and supplier IGT.

The bill was introduced by Senator Frank Ciccone III and Senate President Dominick Ruggerio. The bill’s text states that the aim of the rising credits is to “increase Rhode Island’s competitiveness in the gaming industry”.

However, the bill is also facing opposition. As reported by the Rhode Island Current, Se..

June 5, 2024

Episode 30: Minnesota, DC, Delaware and Illinois

In the latest episode of the World Series of Politics, Brendan Bussmann and Brandt Iden navigate the latest updates from Minnesota, Washington DC, Delaware and Illinois.

The World Series of Politics is back after some technical hitches and we’ve got a lot to catch up on.

We begin in Minnesota. Hopes were high for the state to legalise sports betting before the close of the legislative session, but it inevitably ended without sports betting being considered. Minnesota had been one of four US states that stakeholders thought might pass sports betting legislation, alongside Alabama, Georgia and Missouri. None of them did.

A number of elements factored into Minnesota falling at the final hurdle, Bussmann highlights, one being the arrest of state senator Nicole Mitchell for burglary.

“In the end, one of the downfalls off of this was just, you had, you know, a bunch of people, some are some Ds that just didn’t want to get along at the end,” he says. And although a result was achieved in ..

June 5, 2024

ANJ urges RG caution in France ahead of potential €1bn in Euro 2024 bets

L'Autorité Nationale des Jeux (ANJ), the regulator of gambling in France, has launched a new problem gambling prevention campaign ahead of Euro 2024.

Euro 2024 gets under way in Germany on 14 June and the ANJ says close to €1bn (£851.4m/$1.1bn) could be staked in France on the tournament. The ANJ did note the stake amounts will depend on how France, among the favourites to lift the trophy, fare in the competition.

The €1bn figure would surpass the 2022 World Cup’s stakes total of €900m, when France reached the final. The last European Championships, held in 2021, generated €700m in bets.

However, amid the expected increase in betting activity, the ANJ is urging players – particularly younger people – to take notice of legal notices featured on gambling advertising.

The ANJ’s new prevention campaign aims to raise awareness of betting addiction and the resulting problems. The messages highlight a “deliberately disproportionate” section on addiction risks in yellow to tell the “r..

June 5, 2024

Analyst warns Illinois betting tax hike could trigger similar moves in other states

The decision by lawmakers in Illinois to push ahead with an increase in sports betting tax could push other states across the US to take similar action, an analyst from consultancy B Global has warned.

Last week, the Illinois house of representatives passed a progressive wagering tax rate. This will see the state’s most prolific sports betting operators pay tax at 40%, a sharp rise from the current rate of 15%.

The new-look structure sets rates at between 20% and 40%, depending on each operator’s adjusted gaming revenue (AGR). Operators posting more than $200m (£157m/€184m) face the highest rate of 40% – the second-highest tax rate in the US behind New York at 51%.

Other boundaries include a 20% tax rate for operators with an AGR of under $30m, 25% for between 30m and $50m, 30% for AGR ranging from $50m to $100m and 35% for AGR of $100m to $200m.

The proposal, which forms part of the FY2025 budget in Illinois, is now with Illinois’ governor, JB Pritzker, for sign-off. Should Pritzk..

May 24, 2024

Delaware sports betting growth continues as expansion bill progresses

Delaware reported further year-on-year growth across sports betting handle and revenue in April, while a bill proposing plans to expand the state’s online market beyond its current monopoly has moved forward.

Introduced in April, House Bill 365 is seeking to open up the Delaware online market to more operators. This comes just months after the Delaware Lottery launched its first online sportsbook with Rush Street Interactive and BetRivers.

The Lottery’s sportsbook went live in January and has already had a marked improvement on the Delaware sports betting market. Monthly handle and revenue totals are higher, with this trend continuing into April.

Against this background of early success, lawmakers are already looking at ways to grow the market further.

At the centre of this is HB 365, which this week was assigned to the house appropriations committee. The bill had been assigned to the house administration committee upon its introduction in mid-April, but no further action was take..

May 23, 2024

ACMA orders blocking of more illegal gambling websites

The Australian Communications and Media Authority (ACMA) has requested the blocking of a further eight websites it deems to be offering gambling in the country illegally.

ACMA said each of the sites is operating in breach of the Interactive Gambling Act 2001. As such, it is requesting internet service providers (ISPs) to block access to the illegal sites.

Domains flagged include Jogi Casino, Dundee Slots, Lucky Hunter, Lucky Wins, Lukki Casino, Spin Fever, Clubhouse Casino and Winport Casino.

Since the ACMA made its first blocking request in November 2019, some 975 gambling and affiliate websites have been blocked. In addition, over 220 illegal services have pulled out of Australia since the ACMA started enforcing illegal offshore gambling rules.

ACMA committed to protecting players

Website blocking is one several enforcement options to protect consumers against illegal gambling services.

ACMA says it can take such action if a site offers games not covered by Australian law such..

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Tag: Legal & compliance