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Compliance Updates

Sweden has all its system go for the introduction of new laws intending internet gaming in 2019

Athira A

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Lotteriinspektionen, the Swedish regulator said that the application process for new online gambling licences in the country will commence on July 1.Consequently, the country has all its systems go for the introduction of new laws for internet gaming on January 1, 2019, irrespective of the finalisation of the regulation.

As the regulator spent a considerable time last year working on technical and general aspects for the new laws, post the collaboration with members of the wider gambling community, it is almost ready to present the updated version of the regulations.

With regard to this, Camilla Rosenberg, the Director General of the Lotteriinspektionen, said: “There will be no limit as to the number of licences it can award to operators, but all applicants must meet certain criteria set by the regulator and the government.”

Applications will be scrutinised based on how responsibly an operator can manage gambling activity, as well as their potential to provide a high level of customer protection, maintain good security, and duty of care.

However, Rosenberg also alarmed that even after the government has signed off on the final set of regulations, the law may not be clear at first, adding that the reform will be monitored to see if further changes are needed.

Rosenberg added: “The awarding of licences and the dates from which they will be valid will depend partly on the quality of the applications and when they are received by the Swedish Gambling Authority. We will make a comprehensive assessment of both the application and of the company behind the application. I would like to say that the re-regulation is extensive and will take time.”

“Not everything will be clear from day one; the entire reform will be evaluated over a three-year period. The Swedish Gambling Authority – transforming into the new gaming authority – will do its best, given the conditions we face, to make reform successful. Our aim is to be as transparent as possible and provide regular information about new details and conditions.”

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Compliance Updates

Georgia’s Finance Minister Presents New Initiative to Reduce Gambling-Related Money Laundering

Niji Narayan

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Georgia’s Finance Minister Presents New Initiative to Reduce Gambling-Related Money Laundering
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Ivane Matchavariani, the Finance Minister of Georgia, has presented a new initiative to reduce money laundering risks related to gambling.

The initiative includes the implementation of a new system for the registration and verification of the identity of players. It also aims to create a list of people addicted to gambling and to control the movement of funds through identified channels.

Matchavariani said that the regulation of the sector is important as the sector is vulnerable to being used in money laundering schemes.

“There are many examples in the world when an incorrectly regulated gambling sector did more harm to society, and [can give rise to] illegal activity…That is why it is important to find the golden average of the regulation that achieves goals and avoids negative factors such as criminal growth,” Matchavariani said.

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Compliance Updates

Buenos Aires Regulator Outlines Plans to Launch Online Gambling in Q4 2020

Niji Narayan

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Buenos Aires Regulator Outlines Plans to Launch Online Gambling in Q4 2020
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Buenos Aires’ gambling regulator Loteria de la Ciudad (LOTBA) has published the details of its plans to start screening online sports betting and casino operators who want to offer services in the city. The regulator is planning to launch online gambling by the final quarter of this year.

LOTBA is proposing to authorise an unlimited number of “Online Gaming Agencies” that would be allowed to offer online sports betting, virtual betting, non-sports betting, slots, roulette, blackjack, punto banco baccarat, poker and lottery games. While there will be no competitive tender, there are a few hurdles operators will need to clear.

Companies interested in becoming an “Agency” would need to pay an upfront fee of US$30k, prove that they have been in business for two years, have annual revenue of ARS100m (US$1.6m) and demonstrate a net worth of $25m.

Licenses would be valid for an initial five-year term, extendable for an additional five years. Agencies would pay an annual license fee of $100k and 10% tax on their online revenue.

They also have to submit a Guarantee of Compliance in the sum of $2m, although this will be reduced to $1m following accreditation of the final technical certification report.

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Compliance Updates

Dutch Regulator to Conduct Meetings for Gaming Halls Next Month

Niji Narayan

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Dutch Regulator to Conduct Meetings for Gaming Halls Next Month
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Dutch gambling regulator Kansspelautoriteit (KSA) is going to organise four meetings in March for gaming halls about the Central Register Exclusion of Games (Cruks). The meetings will take place on March 17, 19, 23 and 30.

With the approval of the Remote Gambling Act, gambling halls are legally obliged to consult the registry upon the arrival of a customer. If a player is registered, access must be denied.

The law is likely to enter into force on January 1, 2021. An important part of the new law is that extra requirements are imposed on providers of the riskiest games of chance to prevent gambling addiction. Being connected to Cruks, once the Koa Act has entered into force, is one of them.

The meetings in March are intended for the people within the gaming halls and gaming casinos in charge of the access policy.

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