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Sports Betting to Launch in New York

Published 17.06.2019  Author: J.D  Category: News

The final hurdles that stood in place before the legalisation of sports betting in New York have officially been cleared. Lawmakers voted early last week on legalising the segment, which was approved and set to launch in upstate casinos. The only thing the new regulation is missing, is online sports wagering, which is said to require a constitutional amendment before being considered.

The rules of the regulation will be enforced by the gaming commission and the activity will be available in four of New York’s commercial casinos. Additionally, this will include seven Indian-owned casinos along with future licenced venues.

The approval method involves each casino clarifying the types of bets they wish to offer to their consumers, with a clause stating that only “pro-sports wagers” are allowed, as collegiate teams based in the state will be off limits.

Sweden to improve Anti-Money Laundering Measures

Published 15.06.2019  Author: J.D  Category: News

The Swedish Gambling regulator, Spelinspektionen has revealed that they are one of the 16 authorities who have opted to work against money laundering and terrorist financing in the country.

The regulator said that the main intent of the operation is to exchange information and knowledge between the organisations. It aims to continuously identify, map and analyse risks and methods for money laundering and terrorist financing to compile a national risk assessment. The organisations hope that by combining all of their findings, they will have a broader understanding of how to identify such things.

Spelinspektionen will be both responsible for identifying and stopping money laundering in the gaming sector, as this is believed to be a prime target for criminals to manipulate. A spokesperson from the regulatory body said
: “In our work, it is important to find out who holds or applies for a gaming license. A gaming company must also have good customer knowledge in order to counteract the use of gambling activities for money laundering or terrorist financing”

Fredrik Lindquist, working in the Money Laundering sector of Spelinspektionen, said: “We are currently procuring a service for verifying information on licence applicants and licensees’ group structure, company information and ownership image. By constructing complex and cross-border structures with legal entities in different jurisdictions, one can hide the real principals and the origin of the money.”

UKGC Partners with Wales to Reduce Gambling Harm

Published 13.06.2019  Author: J.D  Category: News

The United Kingdom Gambling Commission (UKGC) has revealed their new partnership in Wales to launch a new national strategy to reduce gambling harm.

The planned, three year strategy includes work across Wales and other nations in the UK, with the intent to provide a way to have a lasting impact on reducing the harm caused by gambling. It’s been said that Welsh health bodies, charities, regulators and businesses will be joining forces to propose ideas and make changes to help tackle the ongoing issue.

The UKGC has drawn attention to the two areas they will be prioritising in the three year period. The first one is Prevention and Education, putting barriers in place to stop the problem in its tracks along with raising awareness to people who may not be conscious of their addiction and what harm they are causing to themselves and those around them. The second focus point is Treatment and Support, for the consumers who have fallen through the cracks and need help to recover

Neil McArthur, Chief Executive of the Gambling Commission said: “The new strategy will provide us and our partners across Wales the opportunity to make faster progress to reduce gambling harms. It will address not only the harms experienced by people who gamble but will also focus upon the impact that can be felt by friends, family and the wider community.”

“We all need to better understand the harms that can be caused by gambling, moving away from simply counting problem gamblers and instead build a greater understanding of the harms experienced. Over the lifetime of the strategy we will better understand the full range of harms and how to protect against them.”

Spain Potentially Banning Gambling Advertisements

Published 11.06.2019  Author: J.D  Category: News

We saw discussions towards the end of May, regarding Spain completely banning gambling advertisements and although the ban was not actioned – we have since seen some small changes working towards a stronger regulated Spanish market.

However, the Spanish Ombudsman, Francisco Fernández Marugán, has once again filed a recommendation to ban it with a growing concern of health and consumer welfare. The filing primarily was to request a complete ban on gambling advertising, but included a request to implement limitations to the time of day such advertisements can appear if a complete ban was declined.

Should a complete ban be out of the question, he said that they should “expanding time frames for the ad prohibition.” He explained that children should not be seeing gambling adverts on mainstream media and “no celebrities should be shown advertising gambling” as a way to glorify it

Across Spain, there are many regions – each with their own take on gambling and its effect on the public. In Galicia, regulation changes will set a new limit of 118 gambling rooms and 41 betting shops with the aim at closing the market before new laws of gaming are added.

The centre of Spain, Castilla-La Mancha has had their president step forward to put in place restrictions on new gambling halls from opening. Along with saying “We’re becoming very worried about young people getting involved with gambling. We want to stop it before it further develops.”

The Gambling industry of Spain has just ten gambling licences up for approval in 2019, with no further operators having a chance of applying.

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