Compliance Archives

March 7, 2024

Austrac launches investigation into Bet365 over potential AML failings

The Australian Transaction Reports and Analysis Centre (Austrac) has commenced an investigation into Bet365 over potential breaches of anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

Austrac ordered an audit of Bet365 in 2022, when it assessed its compliance with the AML/CTF Act 2006. The consideration of that audit has led Austrac to deem further investigation into Bet365’s affairs as necessary.

Austrac reserves the right to take action where non-compliance is found. The government-run financial intelligence agency has fines and other regulatory powers at its disposal.

“Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing,” said Brendan Thomas, Austrac chief executive.

“Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals.”

Bet365 in potential hot water with Austrac

austrac reached..

March 5, 2024

LaLiga clamps down on “nefarious” betting behaviour with US Integrity link

LaLiga has announced a new partnership with sports wagering monitor US Integrity as it looks to cement its “preservation of integrity in sport”.

The deal will provide LaLiga with the services of ProhiBet, the prohibited betting solution launched in February 2023. ProhiBet is a joint venture between US Integrity and Odds On Compliance.

US Integrity offers wagering monitoring services to sporting stakeholders, analysing datasets to identify suspicious betting behaviour. Odds On Compliance, meanwhile, is a compliance technology and consultation firm in sports betting and gaming.

LaLiga will benefit from analytical insights that will aim to ensure Spain’s top two football leagues are played in a fair manner. Suspicious betting activity will be detected with “nefarious” behaviour acted upon thanks to monitoring alerts.

Javier Tebas, LaLiga’s president, said: “This partnership with US Integrity represents a significant milestone in our efforts to safeguard integrity and transparency in p..

February 20, 2024

PFL strikes regulatory compliance partnership with ProhiBet

The Professional Fighters League (PFL) has partnered with ProhiBet to strengthen betting compliance.

The PFL will use ProhiBet’s technology to help improve sports integrity and ensure compliance with state-specific betting regulations.

The partnership aims to prevent PFL individuals, such as athletes and coaches who are banned from placing bets, from wagering on the league’s events. ProhiBet will use its cross-monitoring and notification platform to achieve this.

Matt Heap, managing director of ProhiBet, said the deal would see the PFL and ProhiBet strengthen compliance within sports betting.

“We are thrilled to partner with the PFL,” said Heap. “The combination of ProhiBet’s state-of-the-art encrypted data transfer system and the PFL’s dedication to upholding the integrity of sports will undoubtedly enhance the transparency and trustworthiness of sports betting activities.”

ProhiBet’s role with the PFL

ProhiBet is a joint venture between US Integrity and Odds On Compliance. US I..

January 17, 2024

Tiers and turbulence in US sports betting

The US sports betting sector has grown rapidly, but Paul Girvan sees trouble on the horizon for the early leaders.

The rapid development of US sports betting has been astounding. Currently some 32 states have legalised some form of sports betting and, of this number, 28 provide either mobile or online access.

Within the 32, there are five states where tribal operators provide the only betting option. To date the markets have been characterised by a hierarchy of operators that have gained access primarily via partnerships with land-based casino operators, both tribal and commercial.

A further eight states are considering the issue and could pass legislation in the coming year. Beyond these is a disparate group of states that have been resistant to passing sports betting legislation – although some have been actively considering the issue.

Among these are three powerhouses of tribal gaming; Minnesota, Oklahoma (with its proximity to Texas) and the behemoth of California. Trouble, ho..

October 11, 2023

Sportradar and Genius slapped with patent suit

Panda Interactive has filed two separate lawsuits in the Texas Eastern District Court accusing Genius Sports and Sportradar of patent infringement.

The suits claim Sportradar and Genius, which are both Panda competitors, implemented the company’s video streaming technology patents without authorisation.

Panda said it had developed several patents in the live data and content streaming verticals. These include technology that allows viewers to see live odds and place a bet while watching sports.

The company say competitors have “widely copied” its patents in the streaming market generally, and even more so in the online sports betting market.

“We have made substantial investments in the development of our technology and cannot tolerate having our patented technology used unfairly by others and against us,” said Panda chairman Donald Schupak.

“No one wants to see their own arsenal used against them in battle.”

Sportradar and Genius accused of patent infringement

The filings also..

September 14, 2023

Brazil lower house approves gambling bill

Brazil’s Chamber of Deputies has approved the government’s gambling bill, which regulates both sports betting and online casino.

The passage of the bill marks one of the final hurdles in the long journey to regulate online gambling in Brazil, the 10th largest economy in the world.

Bill 3,626/23 – which will replace the provisional measure (PM) president Luiz Inácio Lula da Silva issued in July – was amended several times from the original bill that the rapporteur, deputy Adolfo Viana, presented yesterday.

However, the bill still legalises online casino in addition to sports betting. Betting on fantasy sports will remain illegal due to a specific exemption from the new rules.

deputy adolfo viana presents amended bill

The bill will now head to the Federal Senate, which has 45 days to comment on the bill.

Foreign operators barred from licensing

Unlike the PM, the proposed law excludes foreign companies from offering regulated gambling. Only businesses incorporated under Brazilian ..

September 12, 2023

West Flagler mulls Supreme Court appeal after rehearing denied

After the DC Circuit Court of Appeals denied West Flagler's rehearing motion, the plaintiff will weigh up whether to appeal the matter to the Supreme Court.

In a one-sentence response to West Flagler’s petition the court denied the motion, in the latest twist for the two pari-mutuel betting operators seeking to challenge the Seminole Tribe of Florida’s compact with the State of Florida.

“Upon consideration of appellees’ petition for rehearing en banc, the response thereto, and the absence of a request by any member of the court for a vote, it is ORDERED that the petition be denied,” read the court’s statement.

West Flagler had been seeking an en banc rehearing, meaning the case would be heard by the entire bench of the court, as opposed to the panel of three that ruled in the original case, West Flagler Associates Ltd vs Haaland.

The outcome of the case saw the Seminoles permitted to offer mobile sports betting statewide by confirming the federal legality of the state’s “hu..

August 30, 2023

Episode 21: The next step for Brazil

On the 21st episode of the World Series of Politics, hosts Brandt Iden and Brendan Bussmann are joined by Neil Montgomery, founding and managing partner at Montgomery & Associados and Hugo Baungartner, VP for global markets at Aposta Ganha to take an intercontinental deep dive into Brazil.

But before heading over to LatAm, our hosts discuss the progress made in Florida since episode 20 was released.

In the weeks since, West Flagler filed an en banc rehearing. Instead of dismissing this petition, the court has asked the Seminoles for a response – which is due on 31 August.

With so much red tape, it’s assumed that sports betting in Florida will not come any time soon. However, the idea that it could launch during the upcoming NFL season is not out of the realms of possibility.

What’s on the cards for Brazil?

Meanwhile, in Brazil, Neil Montgomery says “anything’s possible”.

The country regulated sports betting in July, after president Luiz Inácio Lula da Silva signed the Provisional..

August 2, 2023

PlayUp accused of falsifying documents as Mintas case expands scope

Former PlayUp US CEO Laila Mintas’ updated suit against the troubled gaming operator and its global CEO Daniel Simic accuses the business of falsifying documents, as the legal action expands in scope to the Australian parent company.

The updated suit, which is seeking approximately $100m in damages, details previously unheard allegations including PlayUp falsifying the dates on Australian government paperwork.

Mintas also alleges PlayUp manufactured and manipulated other documents submitted in response to discovery requests and accuses the operator of improper conduct throughout the legal action. There is also the allegation of PlayUp running a “concerted campaign” to ruin the former executive’s reputation.

Simic accused of falsifying of documents

In the third amended counterclaim – the latest filing from the Mintas camp in the legal fight – PlayUp and Simic are accused of making “egregious discovery abuses such as the falsification of corporate documents”.

the suit alleges play..

July 25, 2023

NFL suspends Broncos’ Eyioma Uwazurike for betting violations

The National Football League (NFL) has indefinitely suspended Denver Broncos player Eyioma Uwazurike for betting violations.

The NFL confirmed the move in a statement, outlining that Uwazurike had been betting on NFL games during the 2022 season.

However, it was not confirmed which games he was betting on. It was also not confirmed whether his own team took part in these games.

Read the full story on iGB North America

June 6, 2023

Sorare: From pressure point to new regulations

Sorare has updated its operating model in France, and gambling regulator ANJ is yet to confirm whether it meets its regulatory criteria, writes Jake Pollard. However, news that the French government is working to pass new regulations for Web3 “pioneers” shows how important the sector is to the French authorities.

In a statement posted on Medium, Sorare said it had updated its product roadmap as a “temporary solution”.

This decision was taken in accordance with “the French National Gaming Authority [l’Autorité National des Jeux (ANJ)] that creates an optional alternative method of entry for users based in France only”.

Essentially, Sorare has increased free-play access to its fantasy sports leagues for players in France. Even if the French language version of the company’s statement, unlike the English text, mentioned that the new method of entry would be available to players “without blockchain cards”.

A marker of regulatory pressure

Overall, the move by Sorare is a marker of t..

May 23, 2023

MA regulator “frustrated” by DraftKings betting violations

Commissioners from state gambling regulator, the Massachusetts Gaming Commission (MGC), said they were “frustrated” by DraftKings' betting violations.

DraftKings reported itself to the Commission after discovering it had offered bets on the tennis UTR pro-series, which is not an approved betting event in the state.

The MGC’s Investigations and Enforcement Bureau (IEB) looked into the case. The wagering took place over a 12-day period from 10 March to 22 March.

During this time, players placed 864 bets on three events for a total handle of $7,867. DraftKings said the reason the error took place was because of a “miscommunication” between its trading and trading compliance teams.

The fault occurred after the operator copied a list of tennis offerings from a different jurisdiction without verifying if the event was approved in Massachusetts.

After discovering the issue, the DraftKings returned stakes to the players who had placed a bet, as well as removed any winnings and return..

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Tag: Compliance