Tag Archives: Legal & compliance

Oklahoma charitable betting bill pre-filed in Senate
February 4, 2022

Oklahoma charitable betting bill pre-filed in Senate

Bookiecity

A new bill pre-filed in the Oklahoma State Senate would allow for sports wagering and poker, but only if organised by private citizens or charitable organisations with prizes totalling no more than $1,000 (£739/€873)

The bill – Senate Bill 1821 – outlines that recognised charities may host wagering events on their own premises, while private citizens may host wagering events in their own homes.

Wagers would be permitted on “any challenge, match, game, race, fight or contest occurring between individuals or groups of individuals whether or not recognized as an amateur or professional sports event”, provided it is not a juvenile sports event.

In addition, wagering may be conducted on certain card or dice games including poker and dominos, but not “casino gaming” or “mechanical or electronic gaming devices”.

For private wagering events, players may not bet more than $100 per event per day.

Winnings will be subject to income tax.

Currently, no form of sports betting is legal with Okl..

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Lithuanian Supreme Court rejects offshore operator’s appeal for warning
January 28, 2022

Lithuanian Supreme Court rejects offshore operator’s appeal for warning

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Lithuania’s Supreme Administrative Court has rejected an appeal from unlicensed operator Interstorm Curaçao that argued the Gambling Supervisory Authority must warn offshore operators before taking action to shut down their sites.

The regulator issued an order for Interstorm – which operates the SLL365 website for Casino Shangri-La – to stop promoting unlicensed online gambling in Lithuania in May 2020.
However, the operator filed an appeal with the Vilnius Regional Administrative Court that month, arguing that it had not received any warning before the regulator took action.
The court rejected this appeal, noting that there was no requirement for the Gambling Supervisory Authority to warn unlicensed operators.
The operator then took its appeal to the Supreme Administrative Court, but this court agreed with the lower ruling.
The Supreme Administrative Court noted that being able to quickly block sites was a central component in the Supervisory Authority’s powers against online gamblin..

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Swedish government scraps deposit cap plans
January 27, 2022

Swedish government scraps deposit cap plans

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Sweden’s government has scrapped plans to impose new restrictions – including a SEK4,000 slots deposit cap – for online casino products.

The Swedish government announced earlier this month plans to reintroduce a number of temporary measures for the gambling sector, including a deposit cap, after a previous SEK5,000 cap had been in place for much of 2020 and 2021.

The cap – alongside other measures such as a SEK100 limit on sign-up bonuses – was set to be made official today (27 January) and come into force on 7 February, but the government instead opted to abandon the plan.

Gustaf Hoffstedt, secretary general of industry association BOS, which met with state secretary Alejandro Firpo earlier today, said the government made the right choice as the cap did not reduce gambling harm.

“It is a wise and well-balanced decision that the government has made,” Hoffstedt said. “Partly based on the general development of the pandemic. Partly, and above all, because precisely these restriction..

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Sands to “wait patiently” for online opportunities
January 27, 2022

Sands to “wait patiently” for online opportunities

Bookiecity

Robert Goldstein, chief executive of resort operator Las Vegas Sands, said the business would continue to “wait patiently” for opportunities to invest in the online gaming sector, rather than jumping in quickly.

During the operator’s investor call following its 2021 results, UBS analyst Robin Farley noted that the valuations of many online businesses have dipped since Sands first expressed its interest in the sector and asked what this meant for its current plans.

Sands chief executive Rob Goldstein said this decline in sector share prices coincided with a recovery for Sands’ core business.

“I think we have said in the past, we have always been interested in digital and all these interests that’s happening in the market,” he said. “But two things are happening at the same time. Our business, I think, is coming back to a stronger place. I think 2022 finally, especially in Singapore, and I think, as well in Macao, we will see that getting better. Our balance sheet speaks for itself an..

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