Legal & compliance Archives - Page 4 of 11

Jake Paul’s Betr launches real money offering in Ohio

Influencer Jake Paul’s microbetting start-up Betr will now begin accepting real-money deposits and withdrawals in Ohio, after a “soft launch” on 1 January.

In August 2022, Paul – alongside SimpleBet founder and CEO Joey Levy – launched Betr, a microbetting offering, designed at allowing players to place bets on fast-resolving markets. Paul is president of Betr, while Levy acts as CEO.

This was followed by the September launch of Betr’s mobile app, which nationwide launched on a free-to-play basis ahead of a real money offering.

The application has a reworked interface that simplifies betting UI by presenting the bet as a multiple choice question, as well as displaying odds as payout multiples.

betr allows users to place same game parlays on sports games

Betr entered Ohio through a 10-year market access agreement with Hall of Fame Resort & Entertainment Company.

State-by-state expansion

Levy said he was “thrilled” to be launching Betr’s real-money betting business in Ohio. “Thi..

January 11, 2023

Virginia bill introduced capping tax deductions for bonuses

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A bill has been introduced in the Virginia Senate limiting tax deductions for bonuses and promotions.

Senate Bill 1142 – introduced by Democratic state senator Jeremy McPike – would amend the existing code of Virginia definition of adjusted gross revenue. Under current law, “adjusted gross revenue” means gross revenue minus four specified deductions.

The proposed amendment would change the first deduction which allows for allows for operators to deduct all bonuses and promotions from gross revenue. It would seek to impose a cap on the amount that can be claimed beginning at 2.5% of the total wagered by the player in 2023-24, lowering to 1.75% by 2026.

This would have the effect of potentially raising the tax burden on sports betting operators in Virginia, since it is adjusted gross revenue, not gross revenue which is subject to the state’s 15% gaming tax.

Read the full story on iGB North America

January 9, 2023

Gaming bill filed as Texas gears up for 2023 legislative session

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The Texas legislature will consider a bill that would amend the state’s constitution to legalize casinos at a limited number of locations and set the stage to permit sports betting.

The proposed law – Senate Joint Resolution 17 – would devise the framework for a new body named the Texas Gaming Commission, which would supervise legalized gambling in Texas.

Casino gambling would be authorized at a “limited number of destination resorts and facilities” with the proceeds going towards tax relief and funding for education and public safety.

The amendment’s author is Houston-based state senator Carol Alvarado, a Democrat who initially pre-filed the bill on 14 November 2022.

[Read full story on iGB North America]

January 6, 2023

Ohio fines BetMGM, Caesars, DraftKings $150k for ad violations

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The Ohio Casino Control Commission (OCCC) announced it is seeking a $150,000 (£126,000/€143,000) fine each from BetMGM, Caesars and DraftKings for advertising violations.

According to the regulator, the three operators, or their affiliates, all ran sports betting ads on multiple platforms that were in violation of both Ohio law and administrative rules relating to advertising and promotions.

“The sports gaming industry has received multiple reminders of the rules and standards for advertising and promotions, yet continues to disregard Ohio law,” said OCCC executive director Matthew Schuler. “These repeated violations leave the Commission no choice but to pursue administrative action to bring operators into compliance. The Commission takes responsible gambling seriously – and expects the industry to value the same.”

Read the full story on iGB North America

January 6, 2023

Kentucky bill for online betting, poker and fantasy introduced

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A bill that would permit online sports, poker and paid fantasy competitions in Kentucky has been introduced in the State House in the current legislative session.

House Bill 106 was introduced on 5 January 2023 and sponsored by representatives Derrick Graham, Cherlynn Stevenson and Rachel Roberts.

If passed, the bill would add 26 amendments to the current law and enact 13 new sections related to online sports, poker and fantasy gambling.

The bill would enable sports betting to be provided by online operators as well as allowing racing tracks to partner with online brands.

A licensed track can only partner up with one online operator, which can provide systems for gambling both on track and online.

Tracks may also offer sportsbooks at two separate locations that it owns or leases within 60 miles of the racing grounds that are not attached to the land of the track.

Sports that would be allowed to be gambled on include the NFL, NBA, MLB, PGA, NASCAR, MLS, NCAA, NAIA and other nation..

January 4, 2023

Bill proposed in Connecticut to ban greyhound racing

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A bill has been proposed in the Connecticut General Assembly that would ban both greyhound racing within the state, as well as stop operators simulcasting racing from out-of-state locations.

Proposed H.B. No. 5042 – put forward by two Republican and one Democratic legislators – currently has been referred to the committee of public safety and security.

The individuals who proposed the bill are Rep. Klarides-Ditria from the 105st district, Rep. D’Agostino from the 91st district and Sen. Somers from the 18th district.

[Read full story on iGB North America]

December 16, 2022

Pennsylvania operators fined for allowing bets on unapproved sporting event

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The Pennsylvania Gaming Control Board (PGCB) has fined Mountainview Thoroughbred Racing Association and BetMGM for accepting bets on an unapproved sporting event.

The sanction was confirmed after the regulator approved a consent agreement presented by the Board’s Office of Enforcement Counsel (OEC).

The agreement was the result of negotiations between OEC and Mountainview Thoroughbred Racing Association, operator of Hollywood Casino Morgantown in Berks County, and its sports betting partner BetMGM.

The $7,500 fine was levied when BetMGM accepted and paid out wagers on the Victor Belfort v Evander Holyfield boxing contest on 11 September 2021 after the PGCB said that it had “specifically notified all operators that wagering on this event would not be permitted”.

In total, 76 wagers were accepted by BetMGM, according to the watchdog.

Last month, the PGCB fined Parx Casino $10,000for allowing an 18-year-old to access the casino and gamble at gaming tables.

The regulator said casino ..

December 15, 2022

Vermont report calls for legal betting, but no more than six licences

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Vermont’s 2022 Sports Betting Committee has called for sports betting to be legalised in the state, but with limited licences issued by a request for proposals.

The committee report outlines what the implementation of sports betting could look like in Vermont, detailing reasons why sports betting could be beneficial for the state.

It contains six core recommendations, beginning with the implementation of a legalised, state-controlled sports betting market.

A state-controlled market would mean that the state of Vermont would control how many licences are given out. In the report, the Committee states that there should be “minimum of two but not more than six” operators permitted to offer sports betting in Vermont.

In terms of the bidding process for licences, the Committee recommends that it should “be structured to be similar to New Hampshire or New York,” two states notable for high tax rates.

Read the full story on iGB North America

December 13, 2022

ITIA bans two French tennis players for life over match-fixing

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The International Tennis Integrity Agency (ITIA) has issued life bans to French tennis players Jules Okala and Mick Lescure following investigations into multiple incidents of match-fixing dating back to 2014.

Okala, whose highest ATP ranking was 338, was found guilty of seven match fixing charges, while Lescure, who had an ATP ranking high of 487, was found guilty of eight charges.

The ITIA also said the players have both been part of wider law enforcement investigations in France and Belgium.

The sanctions mean both players are permanently prohibited from playing in or attending any tennis event sanctioned by the governing bodies of tennis. Okala was also issued with a $15,000 (£12,220/€14,214) fine and Lescure was fined $40,000.

In the case of Okala, the player was found guilty of several breaches of the Tennis Anti-Corruption Programme (TACP), including three counts of section D.2.a.i of the 2014, 2016, 2017 and 2018 TACPs. These sections related to the requirement for a playe..

December 9, 2022

Norway extends Norsk Rikstoto monopoly for 10 more years

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The government of Norway has extended Norsk Rikstoto’s exclusive licence to offer bets on horse racing for another 10 years.

Norway remains one of the last European countries with a state gambling monopoly. Lottery Norsk Tipping is the only body permitted to offer online casino gaming, while Norsk Rikstoto has the exclusive rights to take bets on horse racing.

Norway remains one of the last European countries with a state gambling monopoly

The government said that the monopoly system is necessary because the types of games offered by Norsk Tipping and Norsk Rikstoto “have high prizes, high turnover or a high risk of creating gambling problems”.

Norsk Rikstoto’s monopoly will now last at least 10 more years, as the government announced that its licence would be extended until at least the end of 2032.

Minister for culture and equality, Anette Trettebergstuen, said that she felt that Norsk Tipping understood its role as a monopoly operator and that its goals were aligned with the go..

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