Connect with us
SIS

Compliance Updates

USA bans online interstate gambling

Niji Narayan

Published

on

USA bans online interstate gambling
Photo Source: usaonlinecasino.com
Reading Time: 1 minute

 

The U.S. Government has banned all forms of online gambling involving interstate transactions. The U.S. Justice Department reversed its stand from 2011, according to which only interstate sports betting was illegal. However, as per the new clarification, all online gambling involving interstate transactions is now prohibited.

The ruling will not affect online gambling in which the wagers are placed from within a state’s borders, however, this suggests casinos will have to have both a physical presence and a secure system in place to ensure that no bets originate from outside of the state. It is unknown at this time how the industry will navigate that issue in a way that satisfies the revised federal regulations.

This reversal could also affect crypto-based betting platforms like Augur although decentralisation could push the definition of “interstate” to its philosophical limits. Most deeply affected are interstate lotteries as well as poker games that run between Delaware, Nevada, and New Jersey, according to the report. Casino operator shares fell on the news Tuesday, and if the past is any indication, the industry will likely fiercely endeavour to reverse this decision.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

Continue Reading
Advertisement
Comments

Compliance Updates

NJ Regulators Impose Fine on DraftKings

Niji Narayan

Published

on

NJ Regulators Impose Fine on DraftKings
Reading Time: 1 minute

 

The New Jersey Division of Gaming Enforcement has fined DraftKings for violating the self-exclusion rules.

DraftKings has to pay out penalties totalling $7000 to the gaming regulator and return $3277 to customers after failing to adhere to self-exclusion rules.

The regulator hit DraftKings with the maximum $5,000 civil penalty for taking wagers from customers who had requested a “cooling off” period be placed on their accounts.

DraftKings discovered an error within its systems in November 2018 whereby the “cooling off” period had been set to zero days. During the month in which the system was not correctly in place, 54 people who were not meant to be able to deposit were able to place bets totalling $28,887. They lost $3277, which DraftKings will now have to pay back.

Continue Reading

Compliance Updates

State Duma Approves the Bill to Simplify Customer Registration of Russian-licensed Online Sports Betting Sites

Niji Narayan

Published

on

State Duma Approves the Bill to Simplify Customer Registration of Russian-licensed Online Sports Betting Sites
Image Source: goldenfrog.com
Reading Time: 1 minute

 

Russia’s lower legislative body has approved the bill to simplify the customer registration process for Russian-licensed online sports betting sites.

State Duma has approved the third and final reading of federal law 423799-7, which will dramatically simplify the customer registration process. To take effect, the bill now requires the approval of the Federation Council and Vladimir Putin’s signature.

The bill explains that the “complex duplicate identification procedures” currently required to register with a Russian online bookmaker “encourages players to search for ways to overcome government measures … in order to gain access to foreign sites subjected to blocking by [Russian telecom watchdog] Roskomnadzor.”

The new legislation would allow bookmakers to delegate responsibility for customer identification to the TSUPIS, which will have three business days in which to transfer the info to the bookie. However, bookmakers may opt to conduct some due diligence on any new customer, just to be on the safe side.

If a bettor has already registered with Russia’s public services portal, both the bookmaker and the TSUPIS can accept this information as proof of the customer’s identity, so the customer need not make a physical trip anywhere.

There are some downsides to the simplified registration process, including a cap of RUB60k per individual transaction and a monthly cap of RUB200k for all transactions. However, this monthly cap can be overridden if the player verifies his document at TSUPIS partner’s retail location.

Nikolai Oganezov, who represents Betcity told that the new simplified registration could boost the overall domestic online betting customer base by 5% this year, with the growth up to 15% possible by the end of 2020.

Continue Reading

Compliance Updates

Maine Legislature Passes Sports Betting Bill

Niji Narayan

Published

on

Maine Legislature Passes Sports Betting Bill
Image Source: playusa.com
Reading Time: 1 minute

 

Maine legislature has passed the sports betting bill. The Legislative Document 553 was given final approval by each chamber of the legislature and will now pass to Governor Janet Mills to be signed into law.

LD553 opens up the market to all of the state’s bricks and mortar gaming venues, such as commercial racetracks, off-track betting facilities, and commercial and tribal casinos. It will also allow mobile operators to apply for licences without the need for a land-based partner in the state.

Successful applicants will have to pay $20,000 as licence fee, 10% tax on land-based wagering revenue and 16% rate for mobile wagering. The bulk of revenue raised through these taxes will be allocated to the Maine General Fund.

Operators will be permitted to offer odds on all professional, collegiate and amateur sports events. Betting on events involving Maine-based colleges and universities will be prohibited. Only citizens aged 21 and above will be allowed to bet.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.