Connect with us
SOFTSWISS

Compliance Updates

Sweden’s Spelinspektionen Clarifies New Sports Betting Restrictions

Published

on

New statistics: the proportion of regulated gambling in the Swedish licensing system at a critically low level
Reading Time: 2 minutes

 

The Swedish gambling authority Spelinspektionen has sought to clarify the scope of new restrictions on the markets that licensed operators can offer for betting.

New rules on sports betting that enter force on January 1 prohibit betting on football leagues below Sweden’s top four tiers. They also prohibit betting on violations of rules, such as bookings and red cards in football, and on the individual performance of players aged under 18.

Spelinspektionen said that the new rules against betting on under 18s’ “individual performance” cover bets on scoring or shots on goal in team games like football, performance in individual sports such as athletics, skiing, or shooting, and performance in singles matches in sports such as tennis, badminton or table tennis.

However, the rules do not prohibit betting on doubles matches in sports such as tennis if the other participant in the doubles team is over 18, provided that the bet is on the pair’s overall performance or on the adult’s performance but not specifically on the under 18’s performance. But, if the majority of players (three out of four) in a doubles match are under 18, then all betting will be forbidden.

The new regulations apply to events in Sweden only. For competitions that have more than one leg, with one leg held in Sweden and one or more held abroad, both the event held in Sweden and the overall result of the competition will be subject to the regulations, but not the individual event or events held outside of Sweden.

As for betting on violations, operators had queried whether the restrictions prohibited taking bets on penalties or free kicks. Spelinspektionen has clarified that betting on a penalty or free kick being awarded will be prohibited, but betting on the result of the penalty of free kick once it has already been awarded will not.

The regulator also clarified that all of the regulations also apply to esports, but again only to competitions that take place in Sweden.

Balkans

Bulgarian National Revenue Agency, the State Agency for National Security and the Gambling Operators Join Forces Against Money Laundering and Terrorist Financing

Published

on

Bulgarian National Revenue Agency, the State Agency for National Security and the Gambling Operators Join Forces Against Money Laundering and Terrorist Financing
Reading Time: < 1 minute

 

The Bulgarian National Revenue Agency, the Specialised Administrative Directorate “Financial Intelligence” of the State Agency for National Security and branch organisations of the organisers of gambling operators will join efforts against money laundering and the financing of terrorism. This became clear during a working meeting, which took place on March 20 at the invitation of the Director General of the National Revenue Agency Rumen Spetsov, and his deputy Georgy Dimov.

The participants discussed the possibilities for the branch organisations of gambling operators to monitor the implementation of measures against money laundering and the financing of terrorism by their members. The talks also discussed changes in normative and sub-normative acts regulating the activity in the sector, which would lead to better accountability and guaranteed protection of the public interest.

During the meeting, it was decided that representatives of the National Revenue Agency would discuss with the branch gambling organisations issues related to the implementation of normative and sub-normative acts, providing guidelines for the correct fulfilment of obligations by gambling operators.

“The National Revenue Agency is partner-oriented and is available to assist businesses in fulfilling their obligations by the current legislation. We highly value the commitment of industry gambling organizations in the prevention and effective fight against money laundering and terrorist financing,” said Rumen Spetsov – Director General of the National Revenue Agency.

Continue Reading

Australia

Crown Approved to Retain its Melbourne Licence

Published

on

Crown Approved to Retain its Melbourne Licence
Reading Time: 3 minutes

 

The Victorian Gambling and Casino Control Commission (VGCCC) has ruled Australian casino giant Crown Resorts can keep its Crown Melbourne casino licence.

The full Commission decided that Crown Melbourne has addressed the failings identified by the 2021 Royal Commission into the Casino Operator and Licence.

Commission Chair Fran Thorn said that the Royal Commission detailed how Crown Melbourne had breached its legal, social and moral obligations, resulting in illegal activities, tax avoidance, money laundering, criminal associations and significant harm to vulnerable community members, ultimately finding Crown Melbourne unsuitable to hold the Melbourne Casino Licence.

“Despite the enormity of its findings, the Finkelstein Royal Commission recommended Crown be permitted to continue operating under stringent independent oversight conditions for two years, determining it had the will and capacity to transform itself to again become suitable, which would be to Victoria’s benefit,” she said.

The Victorian Government responded decisively to the Royal Commission’s findings, appointing a Special Manager to oversee Crown Melbourne’s operations and remediation. It also established the VGCCC as a new regulator focussed solely on the gambling industry and created a specific set of enhanced powers with respect to the Melbourne casino.

The Commission was given the responsibility of deciding whether it was clearly satisfied that Crown Melbourne had returned to suitability and whether the Melbourne Casino Licence remained in the public interest. In making its independent determination, the Commission carefully considered the reports of the Royal Commission and other relevant inquiries, the reports of the Special Manager. Those reports considered the steps Crown Melbourne had taken to address the matters identified by the Royal Commission and the measures to ensure they would not be repeated.

Commissioner Thorn said the Special Manager’s final report concluded that Crown Melbourne has remediated the failings exposed in the Royal Commission and established the critical foundations needed to achieve sustainable overall transformation in coming years.

“There was no evidence of maladministration or illegal or improper conduct indicative of the serious and systemic failures previously identified by the Royal Commission, and these failings had been addressed,” she said.

Commissioner Thorn said that Crown Melbourne had demonstrated to the satisfaction of both the Commission and the Special Manager that it had introduced extensive reforms to prevent or reduce gambling harm, financial crime and money laundering. It has also addressed systemic risk management failures and strengthened its integrity framework.

“During our investigations, we observed a different Crown Melbourne emerging with a clear understanding of the privilege and obligations of holding the Melbourne Casino Licence,” she said.

The Commission’s decision was also supported by Crown Melbourne’s comprehensive transformation plan, required by the Special Manager, against which it will continue to be held accountable going forward.

“That transformation plan will be at the heart of our oversight, along with Crown’s legal and social obligations, and provides the next level standard for Crown Melbourne. The Commission will require Crown Melbourne to deliver further transformation through a statutory direction that will be issued shortly,” she said.

Along with the VGCCC’s strengthened oversight regime and enforcement powers, the VGCCC has established a new, specialist Casino Division providing confidence that Crown Melbourne will be held stringently accountable in the future, including for its ongoing transformation.

Commissioner Thorn said: “In return for the privilege of an exclusive licence, Victorians have a right to expect that Crown Melbourne will never again prioritise profit ahead of the safety and wellbeing of its patrons and staff or over compliance with its legal and social obligations.

“Crown Melbourne must continue to seek to rebuild and earn public trust by demonstrating the good character, honesty and integrity that are necessary to remain a suitable casino operator. We put Crown on notice that this Commission will not hesitate to act if the privilege of holding the casino licence is again abused.”

Continue Reading

Balkans

In Montenegro, a Controversial Law Challenging the Fintech Future Prompts Legal Experts to React

Published

on

In Montenegro, a Controversial Law Challenging the Fintech Future Prompts Legal Experts to React
Reading Time: 2 minutes

 

Montenegro’s evolving digital landscape has been facing a significant hurdle with the introduction of Article 68f of the Gambling Law since the beginning of 2024. Legal experts, spearheaded by the prestigious law firm Schoenherr, have also raised concerns over the provision’s controversial nature and reminded on the constant scrutiny of the market participants regarding the risks to of the Article 68f to stifle not only the gaming industry but also jeopardize the expansion of Montenegro’s fintech sector.

Schoenherr’s Legal Scrutiny of Article 68f

The amendment, aimed at regulating online betting transactions, restricts funding the online accounts payments to cash in physical premises or through traditional payment cards, excluding a wide array of digital banking – e-banking and mobile banking solutions.

Delving into the entire problematic of Montenegro’s subject legal landscape, Schoenherr has conducted a thorough examination of the recent amendments to the Gambling Law, with a keen focus on the widely debated Article 68f. They reminded on a significant concern from market participants as well as on their massive response, in light of petition with over 25,000 signatures gathered and various legal initiatives initiated aimed at its repeal and constitutional review. Schoenherr underscored the depth of the controversy surrounding the new legislative measures and their impact on the online gaming sector in Montenegro.

Industry and Public Backlash

The introduction of Article 68f has not gone unnoticed by the market’s stakeholders, eliciting a strong response from gaming organizers who view the measure as unjustified and potentially illegal. A significant mobilization effort led to the initiation of a petition that garnered over 25,000 signatures, demonstrating widespread opposition to the law. This public outcry resulted in formal initiatives being submitted to both the Montenegrin Parliament and the Constitutional Court to challenge the provision’s legality and constitutionality.

Awaiting a Resolution

As the legal and public spheres await the competent authorities’ decision on these initiatives, the uncertainty surrounding Article 68f raises pressing questions about the future of digital innovation and consumer rights in Montenegro. The law firm’s analysis highlights a pivotal moment for the country, as it grapples with balancing regulatory objectives with the need to foster a competitive and inclusive digital economy.

The Broader Implications for Montenegro’s Fintech Industry

Beyond the immediate concerns for the gaming sector, the law’s restrictions on digital payment methods signal a potential setback for Montenegro’s fintech ambitions. In an era where digital financial services play a critical role in economic development, restrictive measures like Article 68f could deter innovation and investment in this crucial sector. The legal analysis by Schoenherr serves as another alarm-bell-call for a reevaluation of the law, urging policymakers to consider the long-term impacts on the country’s digital and financial landscape.

Continue Reading

Trending

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

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