regulation Archives - Page 2 of 11

March 11, 2024

Entain, Betfred and Flutter join GC Industry Forum led by Nick Rust OBE

Directors of Flutter, Betfred, Entain and The Rank Group have been named among the nine appointed members of the Gambling Commission’s (GC) new Industry Forum, which will be chaired by Nick Rust, OBE.

Rust, who previously spent six years as British Horseracing Authority chief executive, was appointed as Industry Forum chair in November 2023.

Over a two-year term, Rust will oversee a forum that includes Ashley Padgett, director of compliance and anti-money laundering at Flutter’s UK and Ireland (UK&I) division, as well as Entain’s customer operations director for UK&I Leo Walker.

As well as Entain and Flutter, other UK gambling industry leaders will be represented. Betfred’s head of media Mark Pearson has been appointed to the forum, as well as David Williams, director of public affairs at Rank Group.

Merkur UK’s director of public and political relations, Tony Boulton, and Betsmart Consulting founder and director, Kirsty Caldwell, will also be joined on the forum by Charles Cohen,..

March 8, 2024

Alabama advances scaled-back gambling bills with sports betting excluded

The Alabama senate has passed a pair of bills that would see lottery and state-regulated gambling legalised, although statewide sports betting has been excluded.

Alabama lawmakers passed HB151 and HB152 in February. In its original form, HB151 would have legalised retail and online sports betting, as well as a state lottery and casinos in areas of the state that have bingo-type games. HB152, meanwhile, was to create a state lottery and gaming commission to regulate gambling in the state.

However, HB151 stalled in the senate, with sports betting and casinos now removed from the bill. The amended HB151 passed by a vote of 22 to 11 on Thursday, reaching the 21 votes required to advance. Meanwhile, HB152 also passed.

The bills still include lottery. Additionally, the bills would authorise the governor to negotiate a compact with the Poarch Band of Creek Indians (PBCI) to regulate gaming activities on tribal lands. The PBCI operates the three existing casinos in Alabama.

Senator Greg Al..

March 7, 2024

IBIA report highlights role restrictions play in supporting unregulated market

A new report from the International Betting Integrity Association (IBIA) has highlighted the effect overly-restrictive regulation has on driving players offshore.

The IBIA study, The Availability of Sports Betting Products: An Economic and Integrity Analysis, was prepared by H2 Gambling Capital and developed in partnership with betting assoications in Brazil, Canada, Australia and the Netherlands. It used data from 12 markets where sports betting is regulated.

The research analysed the effects that restrictive and liberal regulated regimes have on player habits. These centred around consumer protection, regulatory oversight, sports integrity and taxation.

The report found a strong correlation between the availability of sports betting products and the proportion of consumers wagering with onshore regulated operators. In markets where players faced few restrictions, the channelisation towards the legal market stood at 90% or more.

Rather than preventing consumers from betting, Kh..

March 7, 2024

Montenegro’s electronic payments ban raises industry concerns

Amendments to Montenegro’s gambling laws that would ban the use of electronic payment methods are leading to concerns among the country’s gambling sector, with Montenegro Bet representative Jovana Klisić saying the industry is “at a crossroads”.

The amendment to Article 68f of Montenegro’s gambling law will see a variety of electronic payment methods, such as ebanking and mobile payments, disabled when it comes to depositing into betting accounts.

The changes now mean bettors in Montenegro have two options should they wish to bet online. Players can enter a betting shop and place a monetary cash wager which then transfers online funds into their accounts. Alternatively, players can pay via card, but only on a terminal in a betting shop.

The provisions have caused agitation in the Montenegrin industry, with gambling companies concerned over the amendment’s impact on business. A petition calling to halt the change received 25,000 signatures, around 8% of the country’s electorate, in j..

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

EGBA lauds EU’s proposed introduction of digital identification

The European Gaming and Betting Association (EGBA) has welcomed the European parliament’s approval of introducing a standardised electronic identification method called a “European Digital Identity” (e-ID).

The EGBA-endorsed move would oblige states in the European Union (EU) to issue an e-ID to citizens. This would allow them to authenticate their identity for online services. These e-IDs will be optional for citizens and businesses.

EGBA labelled the European parliament’s approval on Monday a “significant milestone” in providing a safer and more inclusive online environment for citizens in the EU. There were 335 votes in favour, 190 opposing the new regulations and 31 abstentions.

The proposed e-IDs will mean citizens would no longer have to resort to commercial providers to verify their online identification, something that has caused privacy and security concerns in the past.

The hope is that e-IDs will reduce the risk of fraud and identity theft, enhancing security for the EU’..

March 5, 2024

GC’s Gambling Survey for Great Britain: Lottery reigns supreme

The first data from the Gambling Commission’s (GC) Gambling Survey for Great Britain (GSGB) has highlighted the prevalence of lottery among gamblers in Great Britain.

48% of respondents had gambled in the past four weeks, although that figure dropped to 27% when excluding lottery-only players. Over a fifth of all respondents had only taken part in lottery draws.

The 48% figure of respondents having gambled in the past four weeks is a slight reduction on the 49.5% number stated in the final experimental stage of the survey, released back in November.

Participation drop-off without lottery the same for land-based and online

The pattern was the same for online and land-based gambling. 38% of all participants had used the internet to gamble in the previous four weeks, the same as in the November data, although the removal of those who only play lottery saw that number fall to 16%. In-person gambling participation also fell from 29% to 18% when lottery-only players were excluded.

The ..

February 28, 2024

Georgia moves closer to sports betting after bill passes senate

Georgia looks set to have a referendum on whether to legalise sports betting after a bill successfully passed through the state’s senate.

Senate Resolution 579, which seeks to approve sports betting in Georgia, passed by 41 to 12. This was easily enough to meet the two-thirds majority needed to amend the state’s constitution through a referendum.

SR579 is led by Senator Bill Cowsert, who submitted the ultimately unsuccessful Senate Bill 172 in 2023. In a largely unchanged form, though, SR579 looks more likely to end up passing.

Earlier in February, Senator Clint Dixon’s Senate Bill 386 was adopted after passing with a vote of 35-15. Enabling legislation SB386 looked to establish a framework of regulation in the state and was amended so that the support of 38 senators was needed to pass.

Cowsert’s proposals would see 80% of tax revenue attributed to the lottery’s education fund. Some 15% would go to public education on problem gambling, while 5% would be given to the Sports Promotio..

February 27, 2024

Netherlands regulator KSA presents 2024 supervisory agenda

The Kansspelautoriteit (KSA), the gambling regulator in the Netherlands, has presented its supervisory agenda for 2024, citing four areas of focus.

Looking to achieve its mission of “safe gaming”, the KSA says it will increase its protection of vulnerable players in the Netherlands by looking to prevent addiction. The country took measures to do this in 2023, including the introduction of a ban on most forms of advertising.

The KSA is also looking to combat illegal online offerings, aiming for at least 90% of players to gamble with legal providers in the Netherlands. In a December article for iGB, Yield Sec chief executive Ismail Vali noted how the KSA’s current approach appeared to lack clear success in actual enforcement terms.

The KSA is vowing to further support partners, including the police and tax authorities, on investigations in the physical domain. The regulator hopes this will lead to less “undermining” between different organisations.

The KSA’s final area of emphasis is..

February 26, 2024

Affordability checks: Everything you need to know

With parliament to debate the introduction of affordability checks today (26 February), here’s everything you need to know about the proposals so far.

The long-awaited release of the Gambling Act white paper in April was the most transformative review of UK gambling in 18 years. It marked a key landmark in how the market will be regulated in the future – with affordability checks a key part of that discussion.

The government has already introduced some measures, such as the establishment of stake limits for online slots. However, other resolutions are also being worked upon as the UK government and the Gambling Commission (GC) looks to ease concerns over gambling harms in the country.

The strongest industry response to these proposals has been towards the potential implementation of affordability checks. They have met fierce opposition from operators and trade bodies.

With parliament set to debate financial checks this week, let’s take a look at how we got here.

White paper’s rele..

February 26, 2024

Ohio bans player prop bets on NCAA games

The Ohio Casino Control Commission (OCCC) has banned player prop bets on college sports after granting a request from the National Collegiate Athletic Association (NCAA).

The OCCC’s decision came after NCAA president Charlie Baker sent a letter to the commission’s executive director Matt Schuler, requesting a ban to be implemented on player-specific prop wagers for its games. The letter was also endorsed by Ohio’s governor, Mike DeWine.

Bettors will no longer be able to wager on markets such as a quarterback’s passing yards or a basketball player’s points for NCAA games. Operators have until 1 March to introduce the restrictions.

In the OCCC’s announcement, the commission stated it would become the 25th state to either prohibit or limit player-specific prop bets on NCAA contests. The ban’s aim is to protect NCAA athletes against potential harassment from bettors, as well as curb match fixing.

Ohio only launched legal sports betting in January 2023. In July, the state passed a law t..

February 26, 2024

Sturgis’ review of Gambling Commission’s survey stoking the fire

The Gambling Commission (GC) recently lauded its Gambling Survey for Great Britain (GSGB), after it was endorsed by Professor Patrick Sturgis in an independent review. However, that backing is far from comprehensive, even from Sturgis himself.

Sturgis, a professor at the London School of Economics, did label the study “exemplary in all respects”. However, as has been the case in the past with the GC, its tendency to produce unreliable statistics was a noticeable theme for Sturgis, who cast doubt over the accuracy of the GSGB, which is due to be published this summer.

Sturgis said: “Until there is a better understanding of the errors affecting the new survey’s estimates of the prevalence of gambling and gambling harm, policymakers must treat them with due caution, being mindful to the fact there is a non-negligible risk that they substantially overstate the true level of gambling and gambling harm in the population.”

Hardly the glowing endorsement the GC has made out, Sturgis’ concer..

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Tag: regulation