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Compliance Updates

EGBA Calls For Dutch Online Gambling Regulation

George Miller

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EGBA Calls For Dutch Online Gambling Regulation
Photo Source: iagr.org
Reading Time: 2 minutes

 

The European Gaming and Betting Association (EGBA) has issued its support for Minister Sander Dekker’s ongoing work to modernise the Dutch gambling framework and urges the Senate to approve his proposals in the next weeks. The Netherlands is currently one of only three EU countries who do not regulate online gambling – leaving its online gamblers playing in an unregulated environment and depriving the Dutch state of valuable tax revenue.

For the specific measures to execute the law, the European Commission issued useful guidelines on how EU member countries can ensure a consistent, high level of consumer protection for their online gamblers. EGBA believes that the new Dutch gambling law should be based on these robust consumer guidelines in order to provide Dutch players with the consumer choice and protection they need in today’s online world.

“The introduction of a Dutch online gambling framework is urgently needed. The Netherlands is now one of the few EU countries who do not regulate online gambling – and this situation is no longer tenable.

Despite the current lack of regulation, recent research shows that 1.9 million Dutch citizens – over 10% of the total population – participated in online gambling last year. These players played on websites which are based in other countries and are neither regulated nor pay taxes in the Netherlands.

Online gambling is a popular pastime – but the uncertain policy basis in the Netherlands hurts normal, law-abiding citizens and puts their protection at risk by forcing them to play in an unregulated online environment. In 2018, the Dutch online market was worth €592m, meaning the Dutch state is also unnecessarily losing about €175m in tax revenue each year.

That is why EGBA welcomes Minister Dekker’s ongoing commitment to modernise the current laws and advocates for the introduction of a well-regulated, multi-license model.

For online gambling regulation to be a success, it should be underpinned by a licensing system which is able to attract enough companies to meet the demand of well-educated and internet-savvy consumers. For Dutch people, whether they play poker or like betting on sports, they should be able to find all the products they are looking for with companies regulated in the Netherlands, that pay taxes there and apply local consumer safeguards.

A licensing model which facilitates this consumer choice will create a better functioning market with players who are properly protected and valuable tax receipts for the Dutch state.” – Maarten Haijer, Secretary General, European Gaming and Betting Association (EGBA).

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Compliance Updates

Swedish Court Reduces Casino Cosmopol’s AML Penalty

Niji Narayan

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Swedish Court Reduces Casino Cosmopol’s AML Penalty
Photo Source: casinocosmopol.se
Reading Time: 1 minute

 

Sweden’s Administrative Court has reduced the penalty issued to Casino Cosmopol in 2018 from SEK8m to SEK3m.

The fine was issued by Lotteriinspektionen in relation to systematic deficiencies in Casino Cosmopol’s policies related to money laundering and terrorist financing in November 2018.

Casino Cosmopol submitted an appeal against this in December 2018, which was heard in Sweden’s Administrative Court last week. The hearing found that while the court agreed that the casino had breached its licence conditions, there should be a reduction in the penalty fee paid.

In response to the ruling, Lotteriinspektionen has said it will consider launching an appeal of its own against the Administrative Court decision.

“Casino Cosmopol AB has applied for a license to operate games when the new Gaming Act comes into force at the turn of the year. The Lottery Inspectorate has now informed Casino Cosmopol that they need to supplement their application with a description of the measures planned to comply with the money laundering regulations,” the regulator said.

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Compliance Updates

MGA publishes Guidelines on the Impact of the UK’s Exit from the European Union

George Miller

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MGA publishes Guidelines on the Impact of the UK’s Exit from the European Union
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The Malta Gaming Authority is publishing a guidance note on the impact of the UK’s Exit from the European Union in consideration of the United Kingdom’s exit from the European Union. The contents of the guidance note relate solely to regulatory affairs within the remit of the MGA, and operators should also be aware of ulterior consequences resulting from Brexit, including but not limited to data protection, immigration, employment, duty, and copyright considerations.

The contents of this guidance note are of particular importance to entities established in Malta and operating in the United Kingdom, or entities established in the United Kingdom providing services and supplies within Malta, and it also details transitory measures in place for operators to ensure readiness and avoid regulatory disruption.

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Compliance Updates

iSoftBet awarded Malta B2B supplier licence

George Miller

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iSoftBet awarded Malta B2B supplier licence
Reading Time: 2 minutes

 

More than 100 proprietary games certified – all new titles to be offered to tier one brands in rapidly growing jurisdiction

 iSoftBet, the leading online and mobile casino content provider, has been awarded a B2B software licence from the Malta Gaming Authority (MGA) enabling it to offer more than 100 of its best performing games to a host of tier one brands.

iSoftbet is certified in 16 of the world’s largest regulated and emerging territories and provides brands with the highest quality casino games and maximum speed to market.

The supplier’s MGA B2B licence is a key regulatory landmark for the business with a host of well-known brands investing heavily in the rapidly growing jurisdiction, looking for a combination of proven and fresh content during the busiest period of the year for the iGaming industry.

Among the 100 iSoftBet games certified for Malta include classic titles such as Hot Spin, Vegas High Roller, and Wild Ape.

iSoftBet has a reputation for being at the forefront of slot development, performance, product diversity and innovation with a portfolio of more than 150 proprietary titles and more than 4,500 games on its Game Aggregation Platform (GAP). The software providers available on iSoftBet’s GAP will continue to supply their content if they hold a MGA Gaming Licence or letter of recognition.

Mark Halstead, Compliance Manager at iSoftBet, said: “We are one of the most certified and compliant suppliers in the iGaming industry. Malta is a key milestone for iSoftBet, and we’re delighted to have gone through the licensing process with flying colours.

“This enables us to both extend our relationships with existing tier one customers as well as gain access to a wealth of potential new clients. Malta is attracting an increasing number of well-known operators and we’re excited about what the future holds there.”

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