Compliance Updates

How New Gaming Legislation Affects Gaming at Online Casinos

Published

2 years ago

November 29, 2021

Reading Time: 4 minutes

When most people place a bet at online blackjack, they expect a winning hand. Slot fans want to hit the jackpot while roulette players hope the wheel stops at their predicted number. Unfortunately, new online gamine legislation doesn’t always deliver a winning hand to the casino industry.

This article explores how the series of new gaming laws around the world have been affecting how people gamble online.

Credit Card Ban in the UK

Last year, the UK government enforced a law to ban online gamblers from using credit cards at iGaming websites. The ban applies to all forms of online gambling, from playing slots to buying lottery tickets.

The UK banned credit cards because they “can lead to significant financial harm.” That’s according to Neil McArthur, the CEO of the UKGC. According to McArthur, 22% of problem gamblers in the UK use credit cards for payments.

In that case, banning credit cards could lower the number of problem gamblers in Britain. However, it also means British gamblers will need to rely on money in their banks to play slots and card games.

New Lottery Laws in Finland

Finland is the latest country in Europe to strengthen its online gambling laws. Like the UK, Finland is introducing new gambling laws with an intention to protect its citizens from problem gambling.

The new Finnish gambling law, also known as arpajaislaki in Finnish, is comprehensive and has far-reaching consequences. It affects how Finns deposit money to foreign casinos, how operators advertise and verify their customers. To be clear, players in Finland can still gamble through offshore casinos. But they have to follow the new rules introduced under the lottery law.

Legal Sports Betting in Canada

After years of debates in parliament, Canada finally legalized single-sports betting June this year. In the past, Canadians had to place parlays if they wanted to predict sports outcomes. Now, they can wager on a single team like the rest of the world.

Canadian provinces will make the blueprint on how to run online sports betting websites. Ontario has already launched a fully-fledged online sportsbook while more provinces are in the same process.

In case you’re wondering, Canada is yet to legalize online casinos at a federal level. Presently, the country’s laws allow provinces to regulate online casinos. But the national government is yet to create laws that could bring legal iGaming to everyone in the country.

Online Gambling Legalization in the US

For a long time, most Americans felt like legal online gaming would never come to fruition. Then the Department of Justice allowed states to run online casinos in 2011. Four states created online casino laws but most states remained opposed to legalized online gambling.

In 2018, the US Supreme Court created leeway for states to legalize sports betting by striking off the PASPA Act of 1992. Within three years, more than 20 states permit sports gambling of some form: Online or in-person.

Increased legalization of iGaming in the US is a blow to offshore casinos that target American gamblers. But it’s a boon to everyone who’s always wanted to gamble legally. In New Jersey, Pennsylvania, Delaware and West Virginia, you can gamble at both online casinos and sportsbooks.

The Swedish Gambling Act of 2019

Two years ago, Sweden joined the growing list of countries with legal iGaming legislation. Its newest law aims at encouraging offshore casinos to acquire licenses from the Swedish gambling Authority.

By doing so, Sweden can control the iGaming industry and increase its revenues. The law has few implications to gamblers. They can play at their favorite online casinos, like they’ve always done.

However, offshore casinos can no longer advertise on Swedish media unless they’re licensed. Additionally, they need to adhere to standard procedures of fairness and data protection to maintain their business permits.

Monopoly Law in Norway

Before 2017, Norway was like many countries in Europe. It lacked definitive iGaming laws. In 2017, the Nordic nation introduced a controversial law that appointed Norsk Tipping to be the only online gambling company in the country.

Additionally, Norway ordered banks to stop processing payments to offshore casinos. This second effort didn’t succeed in its goal of stopping Norwegians from gambling through overseas websites.

For starters, many online casinos don’t use gambling related terms in their bank account names. As such, banks in Norway can’t tell whether a deposit is headed to a casino site or a shopping website.

On the flip side, there’s no particular law that says a Norwegian citizen can’t bet at a foreign gaming site. This ensures players in Norway can access better quality casino services offshore without facing legal consequences back home.

The Gaming Act of 2018 in Malta

Although Malta has been regulating online casinos for a long time, it introduced a new act to government modern casino sites in 2018. The new act is a consolidation of all gambling-related laws in the country.

Under the new act, Malta has 12 subsidiaries. Basically, the laws are related to what investors need to submit to acquire and maintain a license in Malta. To be clear, Malta has some of the best online gambling laws in Europe.

In fact, it’s the go-to jurisdictions for many investors in the iGaming sector, from software providers to betting companies.

New Laws in Curacao

Before 2015, Curacao was the leading regulator of online gambling. But after years of criticism by governments and players for not holding casinos accountable, Curacao lost its appeal. Instead, new gambling companies began to acquire licenses in Europe.

Curacao is presently changing its laws to make the tougher for applicants. It’s also restructuring its tax policy to attract more casinos. Considering Curacao is a constituent nation of the kingdom of Netherlands, it’s also need to follow the new gaming laws introduced in Holland.

For example, casinos licensed in Curacao will no longer accept players who live in countries where gambling is illegal. This includes customers from the Netherlands. The new laws are new, so only time can tell how they will impact the iGaming industry in Curacao.

Compliance Updates

Playnetic strengthens European presence with licence to operate in Sweden

Published

2 days ago

May 17, 2024

George Miller

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Reading Time: < 1 minute

Playnetic, the new immersive B2B iGaming provider has announced that it has been granted a Swedish licence, following regulatory approval from the Swedish Gambling Authority, Spelinspektionen.

The licence allows Playnetic to launch its catalogue of innovative iGaming titles in Sweden, enabling the company to finalise partnerships with prominent operators across the country.

This significant milestone marks a major step forward in supporting Playnetic’s ambitious growth plans, which include increasing its foothold in other European markets, as well as continued expansion in regulated markets across the globe.

Dan Phillips, Playnetic CEO said: “Since launching in early 2023, Playnetic has been exploring expansion opportunities in Europe to penetrate new markets and we are thrilled with achieving this milestone.

“Thanks to our experienced compliance team, we were able to obtain this licence promptly, which is a huge positive as the market entry lines up perfectly with our regulatory roadmap for 2024. We are looking forward to launching our innovative suite of games which feature captivating themes and mechanics to players and operators in Sweden.”

The post Playnetic strengthens European presence with licence to operate in Sweden appeared first on European Gaming Industry News.

Balkans

Bulgarian President Approves Gambling Law Amendments

Published

2 days ago

May 17, 2024

Niji Narayan

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Bulgarian President Rumen Radev has decided not to veto the proposed amendments to the Gambling Law, which include a prohibition on gambling advertisements in the media.

Previously, President Radev had indicated that he was deliberating on the changes to the Gambling Law and was awaiting input from his advisors before making a final decision.

The prohibition on gambling advertisements in the media was approved by a significant majority of deputies during the final session of the 49th National Assembly. Despite objections raised by various media outlets, gambling operators, sports clubs, and other businesses between the readings, the amendments were endorsed. Some stakeholders argued against the ban, suggesting that public discussion should precede its adoption.

The initiative for the amendments originated from GERB and DPS, and it was introduced unexpectedly during the last days of the 49th National Assembly by Yordan Tsonev (DPS) and Temenuzka Petkova (GERB). The bill swiftly progressed through the legislative process, passing its first reading in the budget committee and subsequently receiving approval in the plenary session. An extraordinary meeting of the Committee on Budget and Finance was convened to facilitate the voting on the amendments before the deputies commenced their pre-election recess.

The post Bulgarian President Approves Gambling Law Amendments appeared first on European Gaming Industry News.

Asia

Thailand Considers Limiting Gambling Areas to 5% of Total Project Space

Published

3 days ago

May 16, 2024

Niji Narayan

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Reading Time: < 1 minute

The Thai government is exploring the possibility of restricting gambling areas within entertainment complexes to no more than 5% of the total project space. This proposal was revealed by Deputy Finance Minister Julapun Amornvivat, who also chairs the House committee responsible for evaluating the potential establishment of casino resorts in the country.

Amornvivat noted that the allocation of space for gaming activities within these entertainment complexes would be determined based on input from various governmental entities involved in a project.

Last month, Thailand’s cabinet approved a report from the National Assembly committee that examined the feasibility of introducing casino resorts in the country. The Ministry of Finance was tasked with conducting a 30-day study to assess the viability of implementing such a policy.

Each proposed venue would require a minimum investment of THB100 billion ($2.75 billion), according to the committee report. Amornvivat recently requested a two-week extension for the study period to further evaluate the matter in collaboration with 16 other government agencies.

The special House committee’s study focused on three main areas. First, it examined the potential impacts of introducing entertainment complexes with casinos on various aspects of Thai society, including economics, politics, social dynamics and the environment.

Second, the committee analysed the business framework of integrated entertainment venues, exploring revenue generation mechanisms such as taxes, fees and licensing structures. It recommended the implementation of specific casino taxes and the establishment of a fund aimed at addressing the negative effects of gambling activities.

Last, the report highlighted the importance of conducting a comprehensive review of the legal framework governing entertainment venues and gambling laws in Thailand. This effort aims to update existing legislation or develop new laws that align with the evolving societal landscape.

The post Thailand Considers Limiting Gambling Areas to 5% of Total Project Space appeared first on European Gaming Industry News.