Compliance Updates
Game Payment cashless App secures Tier 1 UK bank approval ahead of ICE London debut
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One week ahead of its debut appearance at ICE London the Game Payment Technology (GPT) cashless payments App has confirmed a payment acquiring agreement with one of the top three UK acquirers. This concludes months of intensive work led by the payment’s team from GPT’s JV partner, Polar Moment and represents the first such deal with a Tier 1 UK bank for cashless gaming in pubs and other venues.
GPT Director John Rozek believes the agreement represents a major endorsement of the cashless payments solution which has been under development since Summer 2019. He stated: “As we anticipated, we have secured card processing services with one of the top 3 UK acquirers – a nationally recognised brand. This is a testament of the acquirer’s confidence in GPT’s business plans including the product, the financial structure, the skills within our team and our ability to professionally manage a gambling e-wallet.
He added: “Financial directors understand the expectations and obligations a Tier 1 acquirer demand and it will give potential customers both here and internationally huge confidence in GPT. It is a major achievement and one which demonstrates that we are a professional payments organisation, respected in both the gaming and payments sectors, and able to manage the complexities of a gaming e-wallet service. It confirms we are ready for real players to start enjoying playing without cash in their local pub!”
The four month process involved scrutiny of the GPT business and financial plans, confirmation of Directors backgrounds and experience in both the gaming and payments sectors, risk assessments, compliance reviews as well as anti-money laundering and counter terrorism policies control and procedures. Rozek concluded: “Of course it’s fantastic to have secured a Tier 1 acquirer ahead of ICE which represents the last hurdle before we go live. It will provide visitors with great confidence in the GPT brand as well as the strength of the infrastructure and the people behind it.”
Game Payment Technology will be appearing on the Reflex Gaming stand S8-220 at the ExCeL Exhibition Centre.
Compliance Updates
Dutch Gaming Regulator Publishes Match-fixing Trend Analysis 2024
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The Dutch gambling regulator, Kansspelautoriteit (KSA), has published its Match-fixing Trend Analysis for 2024.
In 2024, there were 13 reports from license holders, compared to 6 reports in 2023. The reports concern striking betting patterns, risky matches and striking changes in odds. Following the investigation into these signals, the KSA has issued 4 warnings and a guideline with guidance for the market will follow shortly.
In the Trend Analysis Match Fixing 2024, the KSA provides an overview of the reports it received in the period from 1 January 2024 to 31 December 2024. It concerns 13 reports of possible match fixing, originating from 8 different license holders. Compared to the trend analysis for the year 2023, the number of reports has more than doubled. Possible explanations are efforts by the KSA to create more awareness of the reporting obligation among licensed providers or a global increase in reports of match fixing. A number of the signals were reason for investigation. Based on this, the KSA issued 4 warnings.
The KSA will make even more efforts to point out to licensed providers their legal obligation to inform the KSA without delay of indications that point to an increased risk of manipulation of an involved match. Guidance for the market in the form of a guideline will follow shortly. In addition, the KSA will continue to monitor the signals.
One of the goals of the Gambling Act is to combat gambling-related match-fixing at licensed providers of sports betting. The KSA has no legal task in detecting match-fixing, but examines whether licensed providers do enough to prevent match-fixing.
For this purpose, the Sports Betting Intelligence Unit (SBIU) was established within the KSA, a reporting point for signals of possible match-fixing in gambling.
The post Dutch Gaming Regulator Publishes Match-fixing Trend Analysis 2024 appeared first on European Gaming Industry News.
Compliance Updates
Jackpot Digital Receives Maine Gaming License
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Jackpot Digital Inc., the world’s leading provider of innovative dealerless electronic poker gaming solutions, has announced that it has received license approval from the Maine Gambling Control Unit (MGCU).
This milestone marks a significant achievement for the Company, as it is the first state-issued license it has received in the US. This state license allows the Company to install its casino machines throughout all of Maine.
“Receiving approval from MGCU is a major accomplishment. Until now, our U.S. licenses have been exclusively through our valued Indian Gaming casino partners, who issue licenses for their respective properties. A state license, however, grants us access to the entire state. We have several additional state licenses pending approval, representing a major expansion opportunity into larger state-regulated commercial casinos,” Jake Kalpakian, CEO of Jackpot Digital, said.
“More immediately, this MGCU approval enables us to offer Jackpot Blitz to gaming operators across Maine. We are excited to bring our innovative products to Maine’s gaming community and reinforce our commitment to delivering cutting-edge technology-driven entertainment,” Mr. Kalpakian added.
Jackpot Digital’s flagship product, the Jackpot Blitz ETG, offers a modern, dealerless, player-friendly poker solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The MGCU license will enable the company to offer its innovative gaming solutions to operators throughout Maine, driving new revenue opportunities and enhancing player experiences.
The post Jackpot Digital Receives Maine Gaming License appeared first on Gaming and Gambling Industry in the Americas.
Compliance Updates
Czech Financial Administration Prevent Tax Evasion in Gambling Sector Amounting to CZK 540M
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The Czech Financial Administration has successfully prevented tax evasion in the gambling sector amounting to CZK 540m.
Through a specialized financial department, authorities identified discrepancies in financial flows within casinos and gambling operators for the years 2021 and 2022. The findings were made public in a press release.
The tax evasion was uncovered through a detailed analysis of gaming data, which revealed unusual player behaviour and suspicious financial transactions. During an inspection of a gambling operator, the authorities detected irregularities that led to an additional tax assessment of CZK 340m. The audit further uncovered errors in the reporting of fees and commissions, resulting in an extra tax obligation of CZK 200m.
“Gambling is a highly regulated sector with significant tax revenues, which is why it is crucial for us to systematically minimize opportunities for illegal practices. This achievement demonstrates that our efforts have a tangible impact on market fairness and tax collection,” Otakar Sladkovský, Director of the Specialized Tax Office, said.
Although gambling tax is a relatively smaller contributor to the state’s overall tax revenues, it remains an important source of income. Last year, gambling taxes generated CZK 20.6 billion, reflecting a 12.5% increase compared to the previous year. Of this amount, CZK 14.2 billion was allocated to the state budget, while the remaining funds were distributed among municipal budgets. In total, tax revenues for the previous year, excluding compulsory insurance premiums, amounted to CZK 1.42 trillion.
The post Czech Financial Administration Prevent Tax Evasion in Gambling Sector Amounting to CZK 540M appeared first on European Gaming Industry News.
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