Regulation Archives - Page 4 of 5

KSA chair Jansen questions whether industry is “capable of self-regulation”

René Jansen, chair of Dutch regulator de Kansspelautoriteit (KSA), has questioned whether self-regulation is possible within the gambling industry, as he expressed his continued frustration with operators that “look for the edges of the law”.

In a blog post, Jansen looked back on a roundtable discussion on gambling in the House of Representatives, in which he participated.

This discussion noted the success of the country’s online gambling regime in channeling players to licensed offerings since the market launched in October 2021. However, it also noted areas where there was room for improvement.

In particular, Jansen said one issue that became obvious in the discussion was “the behavior of some legal operators, who – unfortunately – did look for the edges of the law”.

As a result of this, Jansen said he had his doubts about whether it was possible for the industry to regulate itself.

“This raises the question of the extent to which the sector as a whole is capable of self-regulat..

June 17, 2022

Kindred to withdraw from Germany

Sports Betting News Bookiecity

Kindred brand Unibet will exit the German market on 1 July blaming the slow progress of licensing and onerous regulatory restrictions.

The operator said it had taken the “difficult decision” to withdraw its application for sportsbook and virtual slots licences, and cease all operations from 1 July.

“Our long-term strategic direction sets out locally regulated markets as the core engine for our growth, however licence application procedures, licence conditions, and the regulatory environment need to be transparent, sustainable, and financially viable for a market to be competitive,” Kindred explained.

It said the current application processes, and the terms and restrictions for product offerings, meant the regulated market was not sustainable nor competitive enough to withstand offshore competition.

“Therefore, we do not see a foundation for long-term shareholder value and customer experience at the moment.”

As its current operations in Germany are limited, the withdrawal would ..

June 14, 2022

Rhodes reveals Gambling Commission plans to “ramp up” enforcement

Sports Betting News Bookiecity

Gambling Commission chief executive officer, Andrew Rhodes says the regulator will escalate penalties for failings, adopt more “prescriptive” approach to customer interaction and “ramp up” enforcement if industry continues to fail to live up to the Commission’s standards.

Rhodes made the remarks at the Westminster Media Forum Regulation Conference, where he spoke on the current state of the landscape in the industry ahead of the release of the Gambling Act review white paper. Rhodes hinted that the contents of the white paper should not necessarily be a surprise to anyone paying attention to the GC’s public comments.

“On behalf of the Gambling Commission, without waiting for what the white paper may bring, I can give you an overview on what we think needs to happen to make gambling in Great Britain as fair and safe as it can be, and what our next steps are to achieving that,” said Rhodes.

However, the regulator also said again that the regulator will not wait for the review to chan..

May 27, 2022

Kenya Finance Committee throws out government’s tax hike plan

Sports Betting News Bookiecity

The Finance and National Planning Committee of Kenya’s National Assembly published its updated version of the country’s Finance Bill, following a period of public input on the Treasury’s version of the bill.

In the committee’s version of the bill, the excise tax on betting stakes would remain at 7.5%, while no new tax would be brought in for gambling advertising.

Both of these were amendments from the Treasury’s version of the bill, which proposed a 20% excise tax on betting stakes, plus a 15% tax on gambling advertising spend.

The committee argued that this was not wise, however, as the current 7.5% rate has been in place for less than one year, so there has not been enough time to judge if it has been a success.

“The committee observed that excise duty on gaming activities had been increased in the Finance Act, 2021 and there is therefore need to give the sector time before taxes are increased,” the committee said. “The committee therefore recommends that the amendment be deleted..

May 23, 2022

Córdoba opens tender process for 10 online gambling licences

Sports Betting News Bookiecity

Córdoba, Argentina’s second most-populous province, has opened its tender process for 10 online gambling licences.

Participants will bid for one of 10 online gambling licences on offer, with each lasting 15 years.

All bidders must provide their “legal documentation, legal capacity [and] history of technical and economic/financial capacity” to operate online gaming, as well as their offer for a licence fee.

Operators will have until 5 July to submit bids, with plans for licences to come into effect from 14 September.

The licence will allow an operator to offer online casino games and betting on sports, horse racing and certain non-sporting events. Each vertical will be subject to a 10% gross gaming revenue tax rate.

Córdoba – which is home to 3.3 million people – passed a bill to legalise online gambling in January, after it was introduced at the end of 2021. The original version of the bill only allowed for five licences, before this was expanded to 10.

Argentina allows for gamb..

May 3, 2022

Brazil publishes sports betting rules

Sports Betting News Bookiecity

Brazil’s Secretariat of Evaluation, Planning, Energy and Lottery (SECAP) has published its rules for sports betting in the country, which include a BRL22.2m (£3.6m/€4.2m/$4.4m) licence fee.

The Ministry of the Economy will act as the regulator and will establish a deadline – which will fall within the next six months – for operators already doing business in Brazil to comply with these rules.

There will be no limit on the number of licences that can be issued, with licences lasting five years. However, operators must pay a BRL22.2m (£3.6m/€4.2m/$4.4m) licence fee.

In addition, operators based abroad must set up a subsidiary in Brazil and must have “sufficient capital and economic and financial capacity” to operate.

The bill said whether a business’ financial capacity was “sufficient” would be determined by the relationship between its share capital and the volume of bets it takes, rather than setting a specific minimum amount of capital.

Operators will be permitted to offer bets o..

March 4, 2022

Nairobi bill would only permit betting in five-star hotels

Sports Betting News Bookiecity

The Nairobi County Assembly has approved at first reading a bill that would only allow gambling operators to be located five-star hotels, and would only allow them to operate between the hours of 8pm and 6am.

The Nairobi City County Betting, Lotteries and Gaming (Amendment) Bill, 2021 would amend the country’s Gaming Act, which only became law last year.

The bill was approved at its second reading last week, bringing it one step closer to becoming law.

It would add new provisions to the country’s gaming laws, including only allowing betting, lotteries and gaming facilities to be “domiciled in a five-star hotel”, as rated by Kenya’s Tourism Regulatory Authority.

In addition, licenced premises would only be allowed to operate between the hours of 8pm and 6am.

Meanwhile, gambling advertisements may not be broadcast during the watershed period, which occurs from 10pm to 5am. Physical advertisements such as billboards would be banned entirely.

The law would also require all operators ..

February 24, 2022

Kentucky lawmaker begins push for legal betting, fantasy and poker

Sports Betting News Bookiecity

A bill to legalise sports betting, fantasy sports and online poker in Kentucky has been introduced to the state's Senate.

Senate Bill 213, authored by Senator David Yates, has been referred to the Committee on Committees, and it outlines the operation of online and in-person sports wagering, fantasy contests and online poker.

Sports betting licencees will be subject to a 9.75% tax rate on adjusted gross revenue from retail bets, while online bets will be taxed at 14.25%.

Wagering will only be permitted in the state at licensed racetracks, professional sports venues or on a mobile app, for which in-person registration will be mandatory.

This registration requirement will then lift from 2024, when players aged 18 and above will be able to download an app anywhere.

Tracks and venues are only allowed to partner with one provider at a time, using a format available in both a retail and online capacity.

For fantasy sports operators, the registration fee has been set at $5,000,..

February 8, 2022

South Dakota mobile sports betting bill passes at Senate

Sports Betting News Bookiecity

A bill proposing the legalisation of mobile sports wagering in South Dakota has been passed in the state's Senate.

Senate Joint Resolution 502 is set to be introduced during South Dakota’s next general election, allowing citizens the chance to vote on whether it should come to pass. The proposal was passed by a slim majority – 18 votes to 17.

Should the proposal be voted in at the general election, players will be able to place mobile wagers on sporting events, provided the platform is partnered with one of the casinos in the city of Deadwood.

The legislation stipulates that any proceeds from games of chance should be used for educational, charitable, patriotic, religious, or other public spirited uses – which include the historic restoration and preservation of Deadwood. The resolution will also allow for a state-run lottery and video games of chance.

Sports betting was legalised in South Dakota back in March 2021 after Governor Kristi Noem signed Senate Bill 44 into law, bu..

January 27, 2022

Swedish government scraps deposit cap plans

Sports Betting News Bookiecity

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..

Tag Archives: Regulation