Compliance Updates
Oddin.gg obtains its 4th North American license, further strengthening company’s impact on the US esports betting market
Oddin.gg is proud to announce that it has received a temporary license from the West Virginia Lottery Commission. After obtaining licenses in New Jersey, Colorado, and the Canadian province of Ontario, the esports betting industry leader has now secured its fourth North American betting license. As a B2B esports specialist, Oddin.gg has taken another major step in its North American expansion. The West Virginia license demonstrates that Oddin.gg offers services that fully comply with the state’s regulatory system, which is known for its rigorous standards and comprehensive framework for sports betting.
The West Virginia sports betting license allows operators to offer both online and retail betting, ensuring broad reach and accessibility for users across the state. The licensing process includes stringent checks on financial stability, operational integrity, and compliance with state laws, underscoring the reliability and trustworthiness of Oddin.gg’s services.
Vlastimil Venclik, co-founder and CEO of Oddin.gg, said, “We are thrilled to achieve yet another important milestone for Oddin.gg. Acquiring the West Virginia license strengthens our position in the US market. Combined with new US-based operators becoming our clients, this license marks another significant step in our North American expansion strategy. The work doesn’t stop here; we are actively working on acquiring further US licenses to support both existing clients and future prospects.”
He added, “The esports betting volume is approximately 80 billion USD with 5.5 billion USD revenue at app. 7 % margin. We offer US betting companies a partnership that will allow them to surge opportunities in the booming segment. The new generation of bettors, the fans of competitive gaming, are constantly on a lookout for a solution that will bring them more markets, more live opportunities, higher engagement, simply said, more fun. In reward, they offer loyalty and high ARPU to operators that demonstrate understanding and passion for esports. Oddin.gg has both.”.
The Swedish Gambling Authority has reviewed L&L Europe Limited’s websites offering games and found shortcomings in the company’s information responsibility. The company is therefore being issued with a reprimand and a sanction fee of SEK 80,000.
The review shows that information to varying degrees has been missing from all websites. Among other things, the licensee’s telephone number and email address have been missing from the home pages. Several of the websites have also lacked information about the risks that may be associated with gambling.
The post Swedish Gambling Authority Fines L&L Europe Over Information Failures appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Casino Gaming
PPE Casino Resorts Petersburg Becomes the Fifth Approved Casino Facility Operator in Virginia
Last Wednesday, PPE Casino Resorts Petersburg LLC became the fifth approved casino facility operator in Virginia. The Virginia Lottery Board unanimously approved its application for licensure. PPE Casino Resorts Petersburg LLC plans to open a casino near the intersection of Interstate 95 and Wagner Road.
This comes after a comprehensive review of application materials submitted by PPE Casino Resorts Petersburg LLC and an extensive background investigation by the Virginia Lottery. Under legislation passed by the General Assembly in 2020, the Virginia Lottery licenses and regulates casinos and sports betting in the Commonwealth.
The planned casino in Petersburg will join four other approved casinos in the Commonwealth: in Bristol, Danville, Norfolk, and Portsmouth.
The Virginia Lottery was created in a 1987 referendum by Virginia voters. Under legislation passed by the Virginia General Assembly in 2020, the Lottery also assumed regulatory oversight of sports wagering and casino gaming in the Commonwealth. While proceeds from traditional games offered by the Lottery support a variety of K-12 programs, the taxes generated by sports wagering and casino gaming will benefit other priorities of the Commonwealth as determined by the General Assembly.
The post PPE Casino Resorts Petersburg Becomes the Fifth Approved Casino Facility Operator in Virginia appeared first on Americas iGaming & Sports Betting News.
The Nevada Gaming Control Board has filed a civil enforcement action in the District Court for Carson City against BLOCKRATIZE INC. d/b/a POLYMARKET; QCX LLC d/b/a POLYMARKET US; and ADVENTURE ONE QSS INC. d/b/a POLYMARKET. In its complaint, the Board asked the court for a declaration and injunction to stop Polymarket from offering unlicensed wagering in violation of Nevada law.
Polymarket operates a derivatives exchange and prediction market where it offers event contracts for sale. These products are offered for sale on Polymarket’s mobile app and are made available to people in Nevada. The Board considers offering sports event contracts, or certain other events contracts, to constitute wagering activity under NRS 463.0193 and 463.01962 and, therefore, entities offering such event contracts must be licensed.
The Board has deemed Polymarket’s operations to be unlawful in Nevada and in violation of NRS 463.160, NRS 463.350, NRS 465.086, and NRS 465.092.
Nevada’s public policy, as expressed by the Legislature, is that the gaming industry is vitally important to the economy of the state and the general welfare of the inhabitants and therefore must be licensed, controlled, and assisted to protect the public health, safety, morals, good order, and general welfare of the inhabitants of the State.
The post Nevada Gaming Control Board Files Civil Enforcement Action Against Polymarket appeared first on Americas iGaming & Sports Betting News.
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