Sports betting regulation – FairOdds Network

August 5, 2024

Brazil gambling regulation complete as government publishes final ordinances

With less than five months until the anticipated launch date of the legal betting market in Brazil, the final gambling regulations have been outlined in ordinances published by the ministry of finance’s Secretariat of Prizes and Bets (SPA).
The four-phase regulatory rollout set out in April is now complete and the launch of legal gambling in Brazil is on track for 1 January 2025.

Jump to:

Online games

Monitoring and inspection

Money allocated to the state

Responsible gambling, including a ban on influencer advertising

Sanctions for non-compliance

Operators have been submitting their applications for licences, with the total number of requests now at six after NSX Group’s Betnacional filed its application on Thursday (1 August) with less than three weeks to go until the 90-day initial window of preference closes.

Operators who apply before 20 August will have their applications prioritised by the SPA and ensure they are processed by the expected launch date of the market.

Those..

July 22, 2024

In Macau, most suspects bail out in illegal sports betting case

Prosecutors in Macau have indicted 59 people swept up in a sports betting sting earlier this month. All but two have been released on bail. The illicit operation purportedly reaped millions per week during the recent UEFA Euro 2024 tournament.
The Macau Public Prosecutions Office has indicted 59 people allegedly involved in an online sports betting ring. Two of the defendants remain under pre-trial detention. The rest have been released on bail, with orders not to leave the city.

A total of 93 people were arrested in the 2 July sting in Macau, Hong Kong and Guangdong. Police seized MOP88.4m (£8.5m/€196.2m/US$11m) in cash and froze bank accounts containing MOP22.1m.

The websites, based outside Macau, took bets on football and basketball games. They reportedly generated about MOP72m per week during the recent UEFA Euro 2024 tournament.

Authorities estimate the illegal operation has pulled in more than MOP1.08bn since 2016.

Online gambling is illegal everywhere in China, including M..

July 22, 2024

Student athletes face new wave of harassment – how is the NCAA and the betting industry addressing the issue?

The National Collegiate Athletic Association (NCAA) and the National Council of Legislators from Gaming States (NCLGS) are working together to afford collegiate athletes safety in the new world of sports betting.

Dangers for student athletes range from integrity to the illegal betting market, to physical danger to athletes from bettors who lose individual player prop bets said panelists on Friday (19 July) at the NCLGS summer meeting in Pittsburgh.

The NCAA and NCLGS are banding together for a solution, said Clint Hangebrauck, the NCAA’s managing director of enterprise risk management. The two entities have formed a special committee on education to create draft legislation that can address protecting student athletes.

“We have drafted a model legislative framework that starts with really enforcing the unregulated market,” Hangebrauck said. He went on to say that the current situation presents a “clear and present danger to the safety and well-being of our student athletes”.

Wayne..

July 19, 2024

Bettor perspective? Walters, “Spanky” say US sportsbooks have much to learn

As legal sports betting in the US proceeds in its seventh year, many have expressed concerns about whether the current wagering model is sustainable for the long term.

A panel discussion on Friday (19 July) at the summer meeting of the National Council of Legislators from Gaming States (NCLGS) in Pittsburgh featured views on the subject from legendary sports bettors Billy Walters and Gadoon “Spanky” Kyrollos. Both the legendary Walters, 78, and Kyrollos said sustainability depends on treating sports bettors fairly.

That, they said, means an equal playing field for all customers.

Richard Schuetz, a veteran casino executive, regulator and onetime Las Vegas sportsbook operator, moderated the panel. Schuetz hosted Walters when Schuetz ran the sportsbook at the Stardust.

Transparency, betting limits are concerns

One problem threatening the long-term sustainability of legal sports betting, panelists said, is a lack of knowledgeable operators. “The (legal) industry is new in this country..

July 17, 2024

BetMGM, Caesars go live in Washington, DC after short delay

BetMGM and Caesars Sportsbook went live across Washington, DC on Wednesday (17 July). Previously both operators could only offer their platforms in exclusion zones.

The launch is two days later than both operators planned. But they had to await the FY2025 budget being in force.

The budget includes provisions that open the market from a monopoly to a competitive landscape. DC Mayor Muriel Bowser did not sign or veto the budget. Her deadline to do so was 25 July. Instead, she sent it back to the DC Council. The move allows BetMGM and Caesars to begin offering their platforms throughout the city.

Bowser’s press secretary told Sports Handle that Bowser’s non-action “will still permit” the expansion. By sending it back, Bowser was demonstrating that she had “objections to several elements of the budget”. Given the contentious history of sports betting in DC, the expansion could be one of those objections.

Neverthelesss, BetMGM and Caesars Sportsbook announced on Wednesday that they had..

July 10, 2024

Ex-NBA player Jontay Porter pleads guilty to conspiracy to commit wire fraud

On Wednesday (10 July) former Toronto Raptor Jontay Porter turned himself in to federal authorities and pleaded guilty to a conspiracy to commit wire fraud in a sports betting scandal that involves four others. Porter entered his plea at the US District Court for the Eastern District of New York.

Federal prosecutors recommended 41-51 months in prison and Porter will have to pay more than $450,000 in fines and fees. According to the New York Post, Porter was released on $250,000 bond put up by his wife and mother.

NBA commissioner Adam Silver banned Porter from the league for life in April, several weeks after news broke that he may have violated league wagering rules. Porter tampered with two games so that his co-conspirators could win “under” prop bets. NBA players are allowed to gamble, but are forbidden from betting on basketball and from fixing games. Porter is the only NBA player to be banned or suspended for betting since PASPA was overturned in 2018.

According to a federal ..

July 1, 2024

Weekend Report: PH senator pushes POGO ban, FanDuel’s strong week in NY and more

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days. This week we cover POGOs in the Philippines, as well as stopping off in New York, New Hampshire, Thailand and Brazil.

Philippine senator renews call for online gambling ban

Philippines Senator Joel Villanueva is pushing for his 2022 legislation banning Philippine Offshore Gaming Operators (POGOs) and all forms of online gambling to progress through the country’s legislature.

First filed in September 2022, Villanueva’s Senate Bill 1281 aims to repeal all legislation granting the power to regulate online gambling and criminalise the vertical. Those found to have placed, received or otherwise unknowingly transmitted a bet or wager online would face either a prison sentence of up to six months or a fine of PHP500,000 (£6,736.74/€7,943.75/8,524.33).

Villanueva urges PAGCOR to intensify investigation on POGOs and other forms of online gamblinghttps://t.co/dDChQ5jZSZ
— DZRH..

June 26, 2024

Betr awarded Maryland wagering licence

Microbetting wagering platform Betr was awarded its Maryland licence at a Sports Wagering Application Review Commission (SWARC) meeting on Wednesday (26 June) morning. However the company must still go through a controlled demonstration before launch.

Betr is live in two other states – Ohio and Virginia – after it exited Massachusetts earlier this year. Betr also has a temporary licence in Indiana but has not launched there yet.

Owned by YouTube star and boxer Jake Paul and Joey Levy, Betr is among a handful of smaller betting companies that have been able to find success in crowded markets.

Maryland’s lottery commission in May signed off on Betr’s Maryland wagering licence. But in Maryland, SWARC is the only group that has the authority to issue a licence.

Betr will enter Maryland just as BetFred, which gave up its Maryland wagering licence, is exiting. At the same time, Veterans Services Corporation (VSC) is set to launch. VSC is pointing to a 1 July launch. It is a British-ba..

June 25, 2024

DC Council creates open, competitive wagering marketplace

On Tuesday (25 June) the DC Council gave final approval to its FY2025 budget that includes a provision to open the digital sports betting market. Currently, FanDuel is the sole platform available citywide but, under the new budget, that will change.

The new budget required an emergency act to avoid having to send the budget to congress for approval. The DC Council passed the Budget Support Act via voice vote. The budget is set to go into effect on 15 July.

The new budget will allow for commercial operators to enter the market. BetMGM (Nationals Park) and Caesars Sportsbook (Capital One Arena) should quickly be able to expand their current digital offerings. Through existing partnerships, the operators have brick-and-mortar sportsbooks and offer digital betting within an exclusion zone. Under the new plan, they will be able to offer their platforms across the District.

FanDuel in April launched its platform in partnership with the DC Lottery. The company currently has a monopoly. ..

June 24, 2024

Christopher Hebert appointed new Louisiana gaming chief

On Monday (24 June) Louisiana Governor Jeff Landry appointed Christopher Hebert as the state's new gaming chief. Former head regulator Ronnie Johns announced his retirement earlier this year and 30 June will be his last day.

Hebert was a director handling gaming in the attorney-general’s office. In that role, he worked closely with Johns, who retires as one of the most influential figures in Louisiana gaming. Herbert is the first black man to be named chairman of the Louisiana Gaming Control Board (LGCB), according to a press release from Landry’s office.

“Proper regulation of the gaming industry is crucial at a time in which gaming revenue continues to be a substantial part of our state’s economy,” Herbert said via press release. “I am both humbled and honored that Governor Landry has tapped me as the first African-American chairman of the Louisiana Gaming Control board and I vow to continue the hard work of previous chairmen in ensuring that gaming is free from criminal and c..

June 18, 2024

FanDuel: We’ll exit lottery contract if DC Council approves open marketplace

FanDuel would opt for a lower tax rate and walk away from its lottery contract in Washington, DC if the DC Council approves an open marketplace. President Christian Genetski wrote a letter earlier this month to DC Council chairman Phil Mendelson explaining his company's stance.

The DC Office of Lottery and Gaming (OLG) in March revealed that Intralot, the company that ran the GamBetDC platform, planned to take down the platform and subcontract with FanDuel. The news came as a surprise to the DC Council at that time. But bettors welcomed the change.

GamBetDC was fraught with usability errors and other issues from its May 2020 launch. In four years as the only mobile platform available throughout the city, GamBetDC underperformed. In that time, the District netted $4.3m in tax revenue from it.

OLG operators are taxed at 40%. In an open market, under the proposed amended law, operators would be taxed at 20%. FanDuel paid the city $1.9m in tax revenue in its first 30 days of ope..

April 12, 2024

ASA reiterates ad guidelines ahead of Euro 2024 and warns against targeting minors

The Advertising Standards Authority (ASA) has warned operators against targeting minors with advertising ahead of the upcoming Euro 2024 tournament.

Euro 2024 gets underway on 14 June, with sports betting activity likely to skyrocket during the tournament in Germany. Ahead of the event, the ASA has reiterated to operators their guidelines on what will be prohibited in their advertising.

The ASA highlighted the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code). The CAP Code stipulates that gambling operators must not feature anybody under the age of 25 in their advertising, including footballers. However, there is an exception for websites where bets can be placed directly.

The ASA also warned that ads mustn’t involve any player deemed to have a strong appeal to those under 18.

ASA reiterates other guidelines

The ASA has cautioned that operators shouldn’t mislead audiences by implying official endorsement from players and teams. The ASA did also sta..

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: Sports betting regulation