Legal & compliance – Page 19

July 12, 2022

Court unlikely to make decision on Florida sports betting until 2023

The US Court of Appeals for the District of Columbia has set out a timeline for the case that will determine the future of online sports betting in Florida, making it unlikely that any decision will be made until 2023.

The lawsuit – submitted by pari-mutuel operator West Flagler Associates – deals with the question of whether the Seminole Tribe is permitted to offer online sports betting statewide through a new tribal compact that came into effect last year.

The Florida constitution says that an expansion of gambling on non-tribal lands would require a referendum, but the Tribe contends that online bets placed on non-tribal lands would not violate this clause, as they would be accepted via servers in Seminole territory.

Rather than being against the tribe though, the lawsuit is filed against Debra Haaland, Secretary of the United States Department of the Interior, which reviews and approves all tribe-state compacts in the US. As a result, it is being heard in the US Court of Appeals..

July 12, 2022

NFL’s Bengals apply for Ohio betting licence

NFL franchise the Cincinnati Bengals has applied for a sports betting licence in the state of Ohio, as have FanDuel and Fanatics.

The team becomes the fifth business – but the first professional sports team – to apply for an Ohio operator licence. It is the fourth to apply for approval as a type-A sports gaming proprietor – which would allow it to offer an online product – following Jack Cleveland Casino, Thistledown Racino and Hall of Fame Village.

Those other three business all also applied for a type-B licence, which would also allow for operation of a retail betting facility.

Elys Technology, meanwhile, has applied for a type-C licence, allowing for operation of sports betting at a licensed bar.

Read the full story on iGB North America

July 11, 2022

Dutch minister defends Curaçao reform timeline

Dutch Minister for Legal Protection Franc Weerwind has defended the timeline towards reform of Curaçao’s gambling system, noting the progress the island is making towards implementing the reforms demanded by the Dutch government.

Although the island’s Council of Ministers recently approved new gambling legislation that would drastically overhaul gambling from Curaçao – by replacing the master licence system with a new licensing authority – Weerwind still faced questions on illegal gambling from Curaçao.

The new rules are expected to raise the bar to entry, potentially forcing some operators out of the market, though Finance Minister Javier Silvania said that operators who cannot meet the new standards would not be a great loss.

The questions came just over six months after his predecessor Sander Dekker faced similar questions about the steps the Netherlands was taking to deal with the sector.

In response, Weerwind said that the Dutch government was already working to pressure Curaç..

July 11, 2022

Curaçao minister: Risk of market exits will not stop us raising standards

Curaçao Finance Minister Javier Silvania has “no issue” with the island’s planned gambling overhaul resulting in operators pulling out of the jurisdiction, saying those who fail to meet its new standards will not be missed.

Speaking to iGB, Silvania explained the rationale and context behind Curaçao’s plans to drastically reform its gambling laws.

Among the changes will be the introduction of the Curaçao Gambling Authority (CGA), a body that will oversee licensing and enforcement.

The CGA will replace the current system, whereby four private entities hold master licences from the government, and offer sub-licences to operators with little to no government oversight.

Silvania noted that under the current system there had been a number of “shortcomings and challenges” and that the master licence system was “not an ideal situation”.

“The new bill ensures the monitoring is under the control of the government,” he explained to iGB. “It is important for the government to know who has l..

July 11, 2022

Curaçao to overhaul regime with new regulator, higher bars to entry

Curaçao is set to drastically reform its entire online gambling regime, setting up a new licensing body – with higher barriers to entry and the ability to cooperate with other regulators to tackle illegal gambling – to replace master licences.

The island’s licensing regime was notable for its extremely liberal system and low barriers to entry with little scrutiny for operators, but the government intends to change this.

Currently, only four businesses are licensed by the government. Each of these then offer out their own licences on their own terms, meaning that private entities rather than the government wielded most practical control of licensing.

This will be drastically changed under a new bill that has been approved by the Curaçao Council of Ministers, part of an overhaul of gambling regulation on the island.

A new system will be set up, with licences for both B2C operators and B2B suppliers issued by the Curaçao Gaming Authority (CGA), an independent body set up by the gover..

July 5, 2022

Romanian government publishes plan for 40% tax on withdrawals

The Romanian government has published the country’s new draft Fiscal Code, featuring a tax hike on gambling withdrawals to as much as 40%.

The new code was published by the Ministry of Finance, and contains updates to the country’s tax laws.

Previously, gambling withdrawals in Romania of less than RON66,750 (£11,579/€13,493/$13,980) were taxed at 1%, while withdrawals of up to RON445,000 faced a 16% tax – plus an additional payment of RON667.50 and withdrawals beyond that total were taxed at 25%.

However, now withdrawals of up to RON3,000 will be taxed at 10%. Withdrawals of more than RON3,000 but no more than RON10,000 are taxed at 20%, plus a RON3000 fee. Beyond RON10,000, the tax rate will be 40%, plus a RON1,700 fee.

The tax will be applied with each withdrawal.

When the tax hike was first reported, trade body the Association of Remote Gambling Organisations (AOJND) said that it would push players towards illegal operators.

It estimated that – if the tax comes into effect – ..

July 4, 2022

Bally’s approved to launch BallyBet in Ontario

Bally’s has been approved for an internet gaming licence from the Alcohol and Gaming Commission of Ontario (AGCO).

The licence was approved on 30 June and will last for two years, expiring on 29 June 2024.

It covers fourdomain names – ballybet.ca, ballycasino.ca, ballysbet.ca and ballyscasino.ca, as well as the BallyBet mobile app.

Bally’s is one of the most recent operators to receive a licence to operate in the province, joining the likes of PokerStars, SkillOnNet and BetVictor.

Ontario’s regulated igaming market launched in April three years after Ontario announced plans to end the lottery’s online gambling monopoly on the province.

Operators such as theScore, PointsBet and Bet365 were approved for licences before the market opened.

June 30, 2022

US representatives call on DoJ to shut down Bovada, MyBookie and BetOnline

A total of 28 US representatives have signed a letter to Attorney General Merrick Garland and the Department of Justice, calling for a crackdown on offshore operators, particularly Bovada, MyBookie and BetOnline.

The effort was led by Dina Titus and Guy Reschenthaler, co-chairs of the Congressional Gaming Caucus, and was signed by 26 other representatives.

The letter described offshore sportsbooks as “predatory operations” that “expose our constituents to financial and cyber vulnerabilities; do not have protocols to address money laundering, sports integrity, or age restrictions; and undermine states’ efforts to capture much needed tax revenue through legal sports betting channels”.

The letter called out three well-known offshore operators by name, saying that sites including Bovada, MyBookie and BetOnline “have developed sophisticated platforms that are nearly indistinguishable from those of legal providers”.

These sites – it also noted – are “frequently cited in reputable sports ..

June 28, 2022

Towards intolerance of illegal operators

Illegal online gambling remains a threat to both player protection and government tax yields. Yet, as Paul Girvan explains, most regulated jurisdictions continue to tolerate operators making money outside of the regulatory environment. Could more be done to fight the unlicensed sector?

Online gambling has existed since the inception of the internet, and over time we have seen increasing concern arise from the issue of black market gambling.

Equally, nearly all countries implementing legal market controls have encountered rising rates of gambling harm and negative social consequences, the causes for many of which remain outside the licensed market.

While there is much talk about the “licensed level playing field”, it’s hard to see how any marketplace is effectively levelled to the benefit of any parties if it tolerates the presence of the illicit black market. These shadow operators reap a competitive advantage as their regulated competitors pay a licence fee and taxes and comply wi..

December 2024
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

Tag: Legal & compliance