Michigan legislators have sprung a surprise by passing Rep. Brandt Iden’s online gambling bill on a 68 vs. 40 vote.
As per the bill, licensed land-based casinos can now obtain licenses from the state to offer internet gaming. They will have to pay an 8 per cent tax on GGR based on intrastate activity. The minimum age for betting would be 21 years. The total cost for each application and five-year licensure would be $800,000.
“It will allow internet gaming as it relates to all of the currently allowed games in a brick-and-mortar casino, that’d be poker, roulette, black jack, craps,” Iden told local media, noting that his legislation also sets up the framework for legal sports betting, although he said the Michigan Gaming Control Board first would need to legalise sports betting state-wide following the recent US Supreme Court decision striking down the Professional and Amateur Sports Protection Act.
“The gaming commission is looking for the Legislature to take the initial step,” said Iden. “They believe they have the parameters to do it, but one of the things we need to set up is that tax rate.”
Iden said tribal casinos would be included in the online gambling provisions.
“I believe that the tribal casinos ended up with 90-plus percent of what they wanted in this,” Iden said, indicating a “poison pill” that would rescind online gambling from tribal casinos if the federal government rules that tribal casinos are not able to participate in gaming off-reservation.
According to a House Fiscal Analysis, tax revenue from online gambling would be divided four ways, Iden said. Five percent would go towards school aid, with 5 per cent for transportation, 55 per cent to the city of Detroit and 45 per cent to the Internet Gaming Fund, which will administer the online gambling programme.
The bill now moves to the state Senate, but likely will not be taken up until August this year.
Vietnamese lawmakers approved larger sports betting margin
Vietnam’s National Assembly voted a bill that will grant locals to bet on certain international football games, on horse and dog racing as well.
Vietnam’s move comes after the US Supreme Court revoked PASPA and allowed the segment to be legalised nationwide. Following the American example Vietnam also made improvements as the National Assembly passed a new bill which allows the Vietnamese to bet on sports events, government-approved ones!
The Law on Sports and Physical Training will go into effect next January 1st and was supported by 457 deputies who voted to approve the bill. It is based on a 2017 decree which allowed the Vietnamese to place bets on certain international football games and horse and greyhound racing which hasn’t impacted the market as there are no operators authorised to operate in Vietnam yet.
While disagreeing ministries have taken a role on a lack of organisation for an operator’s bidding process, economist Nguyen Tri Hieu assured that bookmakers would suffer heavy losses if they were to only offer betting on FIFA-recognised tournaments as the government wants. However, the approved legislation is one more step in the right direction to get the segment up and running.
Norway to renew war against online gambling sites
Norway has appointed a new army chief, so to say, in its war against unauthorised online gambling sites. The Norwegian government appointed Gunn Merete Paulset as the new general director of the Lotteri-og Stiftelsestilsynet, which is the Norwegian gaming authority.
Paulset, an industry veteran, takes reigns during a crucial period in evolution of country’s online gambling industry. The government is seeking new measures to curb online gambling, including the power to force local financial institutions to block payments to internationally licensed gambling sites that compete with the state-owned operators Norsk Tipping and Norsk Tikstoto.
Earlier this month, Norway’s government submitted the text (in Norwegian) of its “regulations concerning the prohibition of the processing of payments for gambling without a Norwegian license” to the European Commission for approval. The EC’s mandatory standstill period extends to September 5, and Norway hopes to impose the new rules by January 1, 2019.
Norwegian banks are already prohibited from directly processing payments on behalf of international gambling sites but the new rules make it clear that they are also forbidden from handling “payment transactions to and from companies that carry out payment transactions on behalf of gambling companies.”
In April 2017, the NGA flagged seven companies it accused of processing over $256m worth of online gambling payments for international operators in a single year. In December, the NGA found that at least two of these companies – Trustly and Entercash – had managed to continue their Norwegian operations simply by changing their account numbers.
As a result, the NGA wants the authority to compel banks to block transactions by the name of the company, rather than be forced to file new blocking demands every time a processor changes account numbers.
The NGA also wants the authority to compel banks to turn over data on suspicious transactions, something the NGA claims is necessary if it is to truly understand the scope of the problem. The NGA pinky-swears that it won’t go all Wikileaks with sensitive customer data and that none of its proposals will result in the banks incurring any significant costs.
Norway previously announced plans to restrict unauthorised gambling operators from advertising to local punters, while opposition politicians approved a measure last month that will force the government to impose domain name service (DNS) blocking of unauthorised gambling sites. Typically, the NGA claims all this is necessary due to “public health” concerns and not simply a way of boosting government revenue by forcing traffic to its gambling monopolies.
New gambling law in Malta from July 1
After a three-month standstill period in the European Commission, the new gambling law will come into force in Malta on July 1.
The act was proposed in the Maltese Parliament this spring and introduced to the EC for an obligatory review. It aims to dismantle the country’s current gambling regulatory system. The existing system grants licenses in several classes, but the proposed system will only have two categories of licenses: a business-to-business (B2B) one and a business-to-consumer (B2C) one, depending on the focus of applicants’ operations.
The new Gaming Act comes as the first revision of Malta’s gambling legislation in fourteen years and was initiated by the Malta Gaming Authority’s former Executive Chairman, Joseph Cuschieri.
Mr. Cuschieri assumed office at the island nation’s gambling regulator in the fall of 2013. Earlier this year, he was appointed CEO of the Malta Financial Authority, which required him to leave his post at the MGA. He was replaced by former MGA Chief Operations Officer Heathcliff Farrugia.
Aside from introducing a simplified licensing system, Malta’s new Gaming Act provides the MGA with extended regulatory powers and enforcement functions. The regulatory body will thus be able and expected to implement stricter rules and tools for countering money laundering, terrorism financing, and other illicit financial flows often associated with the gambling industry.
What’s Next for Malta’s Gaming Industry?
Malta has become an important gambling hub in the years since its gaming law was last revised. The nation’s gambling industry currently represents 12 per cent of its annual GDP and is poised to grow in the coming years.
The new Gaming Act is expected to facilitate the process of providing gaming services from Malta by introducing a simplified licensing process and thus boost the growth of the nation’s gaming industry even further. The new law also aims to bring Malta’s regulatory regime in line with the current iGaming landscape and demand for iGaming services.
The new regulatory regime is now set to come into effect from July 1, 2018 for remote gambling operations, and from January 1, 2019 for land-based businesses. It is also important to note that providers of B2B services will be exempt from taxes under the new regulations. That particular language in Malta’s new law aims to turn the nation into an even more attractive tech hub.
While the island nation is already home to some of the world’s largest online gambling companies, it is expected that Gibraltar’s uncertain post-Brexit future could result in industry stakeholders reducing their presence in the British Overseas Territory or leaving it altogether in favour of opening or extending their Malta operations.
Reports emerged last month that bet365 might be gearing up to leave Gibraltar and relocate its operations to Malta where it already runs business. The company denied those reports by confirming plans to expand its business in Malta but not at the expense of its Gibraltar operations.
Subscribe to our News via Email
Association of Gaming Equipment Manufacturers (AGEM) Announces Nine New Members Join Organization
BetConstruct becomes the Innovator in Sports Betting Software at EGR awards
Gaming Laboratories International (GLI®) Celebrates Its 30th Anniversary with the South Dakota Commission on Gaming
Wazdan gets fruity with upgraded Fruit Mania Deluxe in the run-up to iGB Live!
Fantasy Sports Interactive Launches Collaboration with AfricaBet for the World Cup
BlockChain Innovations Corp. Announces its Letter of Intent to Go Public as US Supreme Court overturns Sports betting Ban
NetEnt underlines another year of achievement with EGR B2B Awards win
Capricorn Business Acquisitions Announces Letter Of Intent with Blockchain Innovations
Betsoft’s New Ogre Empire Slot Launches This Week at Intertops Poker and Juicy Stakes Casino
Mr Green publ : MRG establishes operations in the Baltics by the acquisition of the iGaming operator 11.lv
Crypto Expert David Drake Joins CryptoMillionsLotto Ahead of its ICO
Exclusive Interview with Peter Gal, co-founder of Bethereum
Hong Kong casino consortium to buy Wigan Athletic
Esports v Sports – Is the Future of Sport Online?
Genting aims to land first casino license in Andorra
Oryx Gaming and SoftSwiss secure Romania licences
Top read articles
Press Releases1 month ago
Bethereum is set to remove the taboo from betting once and for all
Latest News4 months ago
Malta players free to legally sign up on PokerStars Europe
Eastern Europe5 months ago
Login Casino launches a series of conferences related to crypto industry
Eastern Europe3 months ago
Login Casino launches its own TV channel
eSports5 months ago
Esports betting cryptocurrency eGold presale with a breaking record
Eastern Europe3 months ago
Andrey Ivanov will participate in Login Casino’s webinar Bitcoin Marathon
Interviews4 months ago
Exclusive Interview with Chris Armes – Group Chief Technology Officer at SG Digital
Interviews4 months ago
Interview with Bernhard Blaha, co-founder of HEROcoin and herosphere.gg