Compliance Updates

Isle of Man Sees Unprecedented Demand in Licence Applications From Global Online Gambling Businesses

Published

3 years ago

March 24, 2021

Reading Time: 2 minutes

The Isle of Man has seen a huge increase in demand from global gaming operators amid proposed changes to regulation and structure in some jurisdictions.

Initial enquiries, sparked by uncertainty about the impact and scope of jurisdictional and political changes, and positive follow-up discussions have seen service providers on the Isle of Man report an uptick in enquiries from businesses wanting to relocate to the Island over the last 12 months.

There has been a thirty per cent increase in demand this year with the number of licensees to be supervised by the Gambling Supervision Commission now at 55 with several more in the pipeline, an increase of 21 in last 12 months, in comparison to 8 licence approvals in 2019.

The recent regulatory changes in alternate jurisdictions, combined with the Island’s handling of Covid-19 and the introduction of a new software supplier licence has contributed to a significant surge in the number of applications as businesses seek strong regulation around player protection providing comfort to banks, PSP’s and investors.

Steve Brennan, Chief Executive of The Isle of Man Gambling Supervision Commission, comments:

“We are exceptionally busy at the minute processing a significant rise in the number of applications for online gambling operators.

We continued to work throughout lockdown, and over the last 10 months, we have received or completed a considerable number of applications. By the time we have closed those out and added recent applications, we will have 60 licences to supervise.”

Speaking on why operators are choosing the Isle of Man, Jade Zorab, Director of Amber Gaming, responded:

“The Isle of Man has proven to be at the forefront of the more notable eGaming jurisdictions over the years. It has a combination of a stable political and economic environment, low tax and advanced IT infrastructure in addition to a cluster of experienced and reliable professional organisations – all of which has created a compelling proposition for eGaming companies both locally and further afield.

“The Island also offers a flexible licensing regime with a pragmatic and efficient regulator, which is especially valuable during a time where there is so much global uncertainty and regulatory changes in several other jurisdictions which brings the prospect of significant operational challenges. Given the Island’s strong reputation and open and innovative approach in the evolving gaming landscape, the future outlook is positive and it is no surprise that the Isle of Man is experiencing an influx of eGaming ventures, which we are proud to support.”

Lyle Wraxall, Chief Executive at Digital Isle of Man, adds:

“A key strength of the Isle of Man is its commitment to the development and continued success of the eGaming companies domiciled here. Digital Isle of Man supports this by striving to build and maintain solid foundations for our Island businesses to flourish, offering quick fire advice and tackling obstacles to ease business decisions and burdens along the way.

We have strong heritage and credentials in the eGaming sector and are renowned for our premium regulation which is becoming more and more important to businesses. As businesses licensed elsewhere seek security and continued business growth, the experience and expertise based in the Isle of Man is the logical next step for businesses to mature and grow.

The Isle of Man has a track record of being a safe and secure place for businesses to grow, and boasts a confident, stable economy, with no market restrictions, ensuring minimal disruption to business progress and opportunities.”

Compliance Updates

Danish Gambling Authority Updates Requirements for Reporting Game Data

Published

8 hours ago

May 27, 2024

Niji Narayan

danish-gambling-authority-updates-requirements-for-reporting-game-data

Reading Time: 2 minutes

The Danish Gambling Authority (DGA) has updated the requirements for reporting game data.

Interested parties can comment on the update before the final version is issued. Comments must be sent to the DGA no later than Monday the 10th of June 2024. Comments must be submitted by using the contact form.

The DGA expects the updated requirements for reporting game data to come into force in 2025. The final date has not been determined. A possible transition period will be described in connection with the issuing of the updated requirements for reporting game data.

Changes

Several linguistic adjustments have been made and some guidance texts have been added/adjusted. In addition to this, the following significant changes and additions should be mentioned:

Addition of a requirement that bets on fixed odds must be reported as independent transactions
Addition of requirements for reporting on odds for betting
Added requirement for reporting event information incl. list with country codes and sports
Added requirements for reporting odds on bets as well as specific requirements for reporting partially closed bets and Spreadbetting
Clarifying the handling of reporting for the betting exchange/BetExchange
Exception where SpillerInformationIdentifikation does not have to be reported for land-based betting has been removed after the introduction of the requirement for Player ID
Adding requirements for reporting RNG used for Virtual Fixed Odds
Adding a requirement that a casino session cannot be interrupted in the middle of a move, as well as a description of how “a move” is defined
Clarification of different poker types and how they are reported
Adding requirements to win lists in poker tournaments and manager games
Clarification of downscaling of pool games
Adding new requirements for providing test data for Jackpots
Clarifying the handling of changes to reported data. Including specific clarification of the distinction between changes to the game result and correction of error reporting.

The post Danish Gambling Authority Updates Requirements for Reporting Game Data appeared first on European Gaming Industry News.

Compliance Updates

CT Gaming Obtains New Certification for Diamond King 3 in Romania

Published

8 hours ago

May 27, 2024

Niji Narayan

ct-gaming-obtains-new-certification-for-diamond-king-3-in-romania

Reading Time: < 1 minute

CT Gaming has announced that its exceptional multigame, Diamond King 3, has been certified under the new regulations in the Romanian market.

“With the introduction of new technical regulations in Romania, we had to adapt our practices and obtain new product certifications. This certification represents a significant milestone, further solidifying CT Gaming’s presence in the Romanian market. Thanks to the work of our outstanding team, we were able to secure the necessary measures to ensure our clients and distributors can operate without any issues,” said Robert Stancu, Sales Manager at CT Gaming, Romania.

Diamond King 3 is the company’s premier multigame, showcasing CT Gaming’s commitment to delivering an exceptional gaming experience by combining classic titles with new releases. The multigame features 50 captivating games, including the legendary Mega Jack trio—Aztec Gold, Slot-O-Pol Deluxe and Champagne 20— which is now better than ever. Additionally, 20 games are linked to the exciting 3-level Diamond Tree jackpot. This combination offers players a diverse and thrilling gaming experience, with the potential for both small and large winnings.

Robert Stancu added: “The unique blend of iconic titles, innovative themes, and jackpot features are all designed to create memorable experiences for players and contribute to our customers’ success. The inclusion of ‘Give Me 5 Clovers’ adds a fresh and exciting dimension to the multigame, and we are confident that players will embrace the diverse gaming experience that Diamond King 3 offers.”

The post CT Gaming Obtains New Certification for Diamond King 3 in Romania appeared first on European Gaming Industry News.

Compliance Updates

West Ham’s Lucas Paqueta Charged with Betting Breaches

Published

8 hours ago

May 27, 2024

Niji Narayan

west-ham’s-lucas-paqueta-charged-with-betting-breaches

Reading Time: < 1 minute

West Ham United’s Lucas Paqueta has been charged with misconduct in relation to alleged breaches of FA Rules E5 and F3.

The player has been charged with four breaches of FA Rule E5.1 in relation to his conduct in the club’s Premier League fixtures against Leicester City on 12 November 2022; Aston Villa on 12 March 2023; Leeds United on 21 May 2023; and AFC Bournemouth on 12 August 2023.

It is alleged that he directly sought to influence the progress, conduct, or any other aspect of, or occurrence in these matches by intentionally seeking to receive a card from the referee for the improper purpose of affecting the betting market in order for one or more persons to profit from betting.

Lucas Paqueta has also been charged with two breaches of FA Rule F3 in respect of alleged failures to comply pursuant to FA Rule F2. The player has until 03 June 2024 to provide a response to these charges subject to any request for an extension to this deadline.

The post West Ham’s Lucas Paqueta Charged with Betting Breaches appeared first on European Gaming Industry News.