March 7, 2024 – FairOdds Network

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

ICE and iGB Affiliate reveal record attendance figures in 2024

Clarion Gaming has announced that both its ICE 2024 and iGB Affiliate 2024 last month set new records for attendance, with the events drawing visitors from 164 countries around the world.

ICE took place at the ExCeL London from 6-8 February and iGB Affiliate 6-9 February at the same venue. Together, the 2024 events drew a record 52,345 unique attendees in total.

Unique attendance at ICE reached an all-time high of 45,050, up 12% from the previous year. Meanwhile, iGB Affiliate attracted 7,295 unique visitors, representing a new record and a 27% increase on 2023’s total.

Visitation figures, which measure the number of person days attendees spent at the ExCeL, topped 100,000 for the first time in the exhibition’s history.

The events recorded visitors from 164 nations worldwide. Excluding host country the UK, Malta had the most visitors at 3,364. The US followed on 1,913 and Bulgaria with 1,659.

“February’s historic editions of ICE and iGB Affiliate were what I would describe as ‘I w..

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..

Mon	Tue	Wed	Thu	Fri	Sat	Sun
				1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30	31

Daily Archives: March 7, 2024