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Compliance Updates

Deadline approaching for Global Regulatory Awards 2020 submissions

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February 14th is last chance to nominate individuals and teams for awards recognising excellence in compliance 

The deadline for submissions to the GamblingCompliance Global Regulatory Awards (GRAs) 2020 is fast approaching and this year’s event will be more relevant than ever following increased scrutiny in the sector.

The deadline to submit nominations for the fourth edition of the GRAs is on the 14th of February and this year, the event features a record 18 categories recognising individuals and teams that work in the fields of regulatory compliance and responsible gaming.

The importance of the GRAs has continually grown since its inception in 2017 and with several jurisdictions currently strengthening its regulatory approach and introducing stricter rules around responsible gaming, the 2020 edition of the event is all the more relevant.

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Many former award recipients have seen their reputations as leaders in regulatory compliance and responsible gambling enhanced after receiving GRAs recognition, the highest honour in this specialist field.

The event, which will this year take place on 22nd of April in London, is run by GamblingCompliance, part of VIXIO Regulatory Intelligence, the leading provider of legal, regulatory and business intelligence to the global gambling industry. Winners are selected by an independent panel of 14 industry judges led by an external independent adjudicator, ensuring that the GRAs are the most high-quality and transparent awards in the gambling industry.

Nominations are now open until 14th February to individuals, teams, businesses and industry newcomers and veterans alike.

Frances Fenemore, Chief Marketing Officer at VIXIO Regulatory Intelligence, said: “The industry is facing ever-increasing pressure from regulators and compliance is now top of all stakeholders’ agendas.

“Each year we have seen the GRAs grow and we expect this year to be no different with some excellent work currently being done around responsible gambling and we look forward to celebrating the individuals and teams that have contributed to evolving and improving this field.”

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Compliance Updates

New Report Details Current Situation of Online Gambling Outside the Licensed Market in Sweden

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The Swedish Gambling Authority, Spelinspektionen, has released a new report detailing the current situation of online gambling that takes place outside the licensed market in Sweden. It contains a survey of the key players who engage in illegal gambling and their methods of reaching Swedish players.

The assessment is that the supply of unlicensed online gambling is large and relatively easily accessible. The Swedish Gambling Authority has developed methods to identify unlicensed gambling sites where Swedes play. It is a relatively small group of players, probably fewer than 5% of the total number of players, who demand games that do not have a Swedish gaming license.

Under current legislation, the Swedish Gambling Authority cannot intervene against all gambling sites that do not have a Swedish gambling license. According to the so-called targeting criterion, the authority can currently only intervene against gambling sites that target gambling customers in Sweden through, for example, marketing or that have gambling sites that are designed for the Swedish market.

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“We welcome the ongoing investigation into the expanded scope of application, which is to be reported no later than 17 September this year. Despite the problems with the current scope of application, we believe that our interventions, where possible, are important and have an effect. It is therefore important that we continue our work to combat illegal gambling even during the ongoing investigation of the regulations,” said Spelinspektionen’s Director General Camilla Rosenberg.

The post New Report Details Current Situation of Online Gambling Outside the Licensed Market in Sweden appeared first on European Gaming Industry News.

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Karnataka Govt to Introduce New Law to Regulate Online Betting and Gaming

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The Karnataka government has announced that it will introduce a new law to regulate online betting and gaming.

Home Minister G Parameshwara said a committee of senior officials and industry representatives has been constituted and it has been given a month’s time to submit a draft of the proposed bill.

“I chaired a meeting regarding online betting and gambling yesterday along with the IT Minister. Representatives from the industry were called. There is nothing to regulate them so far. They have agreed to the introduction of a licence system and a regulation as per law,” he said.

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The state government held a high-level meeting to discuss a legal framework for regulating online gaming.

IT-BT Minister Priyank Kharge said that the intent of the legislation is to curb online gambling, betting and games of chance, and protect consumers from fraud while supporting innovation and the sustainable growth of the skill-based gaming industry.

Karnataka is set to introduce a legal framework to ban gambling while permitting skill-based games following a model similar to that of Chhattisgarh.

Kharge said he held a detailed meeting with the state home minister, senior government officials, members of online gaming federations, and industry experts to discuss the proposed framework.

“The legitimate online skill-based gaming industry in India is a sunrise sector worth USD 4 billion, contributing Rs 12,000 crore in taxes and creating over 1.5 lakh jobs. Karnataka alone accounts for 25 percent of the market and contributes Rs 1350 crore annually in taxes, making it a key hub,” he said.

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The minister also raised concerns over the growing underground market of offshore gambling and illegal betting.

“Alongside the legitimate sector, there is a parallel underground market that is expanding rapidly, posing risks such as predatory money collection practices, dubious shell companies, financial fraud, data breaches, and cybercrimes,” he said.

Kharge also held discussions with representatives of the E-Gaming Federation (EGF), the All India Gaming Federation (AIGF) and the Federation of Indian Fantasy Sports (FIFS) regarding their collaborative “Code of Ethics” for the industry.

The post Karnataka Govt to Introduce New Law to Regulate Online Betting and Gaming appeared first on European Gaming Industry News.

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Compliance Updates

BC.GAME Upgrades to @bcgame Telegram Link for Unified Access and Increased Security

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BC.GAME, a prominent cryptocurrency entertainment platform, announced the official upgrade of its Telegram group with a new link: https://t.me/bcgame. This shift represents an important step forward for the platform in terms of brand unification, community operations and user identification paths.

BC.GAME, one of the most active platforms in the crypto entertainment market, has a sizable user base spread across channels such as Telegram, Discord and Twitter. The Telegram community alone has millions of members from many critical areas. Behind each time zone, a committed group of gamers and community administrators keeps the community alive by sharing gaming experiences, uploading the most recent event announcements and assisting new users in swiftly integrating into the distinctive “BC community culture”.

Unifying the group link is both a way to make the platform’s design more consistent and a way to improve the user experience. It’s easier and faster for new players to remember t.me/bcgame than any of the other subdomain names. For current players, it means a clearer official entry point, which makes it less likely that they will run into fake groups.

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The post BC.GAME Upgrades to @bcgame Telegram Link for Unified Access and Increased Security appeared first on European Gaming Industry News.

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