Connect with us

Compliance Updates

Regulatory Changes in the Online Casino Industry in Europe: Impacts and Implications

Published

on

Regulatory Changes in the Online Casino Industry in Europe: Impacts and Implications
Reading Time: 2 minutes

 

Introduction

The online casino industry has witnessed a significant transformation in Europe in recent years due to regulations imposed by governments across the continent. Concerns about gambling addiction, consumer protection, and money laundering have driven the changes.

Impact of Regulations on Online Casinos

These regulations have impacted online casinos in several ways, including the types of games they offer, the way they advertise, and the manner in which they handle customers’ personal and financial information.

Types of Games Offered

One of the most significant impacts of regulation on online casinos is the types of games they offer. In many European countries, the rules require online casinos to offer games with low volatility and low maximum bets, such as slot machines, rather than high-risk games like roulette and blackjack. These restrictions are designed to protect consumers from losing large amounts of money quickly and developing a gambling addiction.

Advertising Restrictions

Regulations also restrict the way online casinos can advertise. Many countries have banned or heavily restricted gambling advertisements on television, radio, and other media platforms. Additionally, online casinos are required to include warnings about the risks of gambling addiction and provide links to resources for problem gambling.

Personal and Financial Information Handling

Regulations also dictate the manner in which online casinos handle customers’ personal and financial information. Online casinos are required to comply with strict data protection laws and ensure that customer information is kept secure and confidential. This includes measures such as encryption and two-factor authentication.

Example of a Country without Regulation

Iceland is an example of a country without regulation on online gambling. While gambling is technically illegal in Iceland, there are no specific laws prohibiting online gambling. As a result, many Icelanders gamble on international websites that are not licensed or regulated in the country. This lack of regulation puts Icelandic consumers at risk of fraud and identity theft, and it also allows illegal operators to operate with impunity.

The Need for Regulation in Iceland

As the popularity of online gambling continues to grow in Iceland, there is an urgent need for the government to regulate the industry. Without regulation, consumers are at risk of being exploited by unscrupulous operators, and the government is missing out on potential tax revenue. By regulating online gambling, Iceland can ensure that operators are licensed and accountable and that consumers are protected from fraud and addiction.

Conclusion

In conclusion, regulatory changes in the online casino industry in Europe have had a significant impact on the way online casinos operate. These changes are designed to protect consumers from the risks of gambling addiction and fraud while also ensuring that online casinos operate in a responsible and accountable manner. Iceland serves as a reminder that the lack of regulation can put consumers at risk and highlights the importance of governments taking action to regulate the online gambling industry.

Compliance Updates

The Slovak Gambling Authority’s systematic check activities help reduce the number of illegal gaming devices

Published

on

Reading Time: 2 minutes

 

In Q1 2023, the Slovak Gambling Authority conducted 2511 compliance checks, which is 201 more compared to last year.

The significant year-on-year increase in the number of checks is due to the restructuring of surveillance and the strategic set-up of the supervision by the Authority's top management.

"I am very pleased that the goals set up by the current management are also successfully fulfilled in the gambling supervision area. Of course, a big thank you to our local supervisors, who actively investigate illegal devices and supervise the fulfilment of all legal requirements by legal operators.
Having gambling under systematic supervision is one of the main missions of the Authority as a gambling regulator," said the Director General at the Office for the Regulation of Gambling (URHH), Dávid Lenčéš.

More than a 45 % increase against the same period last year was recorded in checks focused on the search of illegal gambling establishments. In the first quarter of 2023, supervisors conducted 437 compliance checks focusing on unlawful gambling as mining and quiz machines, intending to prevent further operation. As Director General said, “Increased systematic check activities of illegal establishments has its justification and brings results as, compared to 2022, the number of detected illegal gaming machines on the market is significantly reduced. Searching for illegal establishments and seizing illegal devices has a preventive nature and ultimately protects society, especially at-risk groups and the youth.”

According to the Gambling Act, small operators, such as pubs, can't operate gaming machines. The URHH must license each gaming machine since it is the only official body authorised to issue a license. Operating gambling without a given license is prohibited in Slovakia.

The Gambling Regulatory Authority also carries out surveillance remotely. In the Q1 of this year, we are talking about an almost 90 % increase in on-site checks compared with last year. Thanks to online access to the servers of gambling operators, this form of supervision allows more effective control of many establishments without physically leaving the workplace.

Establishing a specialised online gaming department in 2022 also contributed to the overall increase of supervision effectiveness over 2022-2023. The mission of the specialised department is to supervise licensed online gambling or searching for and restrict access to illegal websites operating or promoting gambling without valid licenses.

Continue Reading

Compliance Updates

ODDS ON COMPLIANCE LAUNCHES PLAYBOOK EUROPE, A GLOBAL EXPANSION OF ITS COMPREHENSIVE REGULATORY TECH PLATFORM

Published

on

Reading Time: 2 minutes
The ground-breaking platform will provide the industry with unmatched global regulatory and compliance data in partnership with leading law firms across Europe
MIAMI, Fla. (MAY 31, 2023) – Odds On Compliance, the industry-leading technology and consultancy firm specializing in sports betting, iGaming, and gambling regulatory compliance, is pleased to announce the launch of Playbook Europe. Playbook provides the most comprehensive overview of the sports betting, iGaming, daily fantasy sports, land-based, and iLottery regulatory environment.
Beginning today, Playbook users can access gaming regulatory information from 21 European territories, with more jurisdictions to be added in the future. Odds On Compliance has partnered with leading law firms across Europe to build out the industry’s most comprehensive database of regulatory information, including Wiggin LLP (UK), Asensi Abogados SLP (Spain), Nordic Gambling (Denmark and Sweden), and OKA Avocats (France).
“This is another step forward in the evolution of our technology,” commented Eric Frank, CEO and Co-Founder of Odds On Compliance. “This is an opportunity to bring our innovative solutions to a wider audience. We understand the unique regulatory landscape of Europe, and we’re excited to navigate these compliance complexities and provide cutting-edge technology to the industry in partnership with some of the leading law firms in the industry.”
“We are thrilled to expand Playbook into the European market,” added Cheryl Jones, Odds On Compliance President, Europe. “This expansion is the next step in delivering the highest level of trust and transparency to our clients while supporting the growth and success of their businesses.”
Odds On Compliance is committed to providing the most comprehensive and up-to-date regulatory compliance solutions for the gaming industry. Playbook provides a virtual gateway to a comprehensive collection of regulatory documents globally for markets with legalized sports betting, daily fantasy sports, iGaming, land-based, and iLottery.
Playbook features carefully curated, managed, and updated statutes, regulations, and requirements that enable businesses to stay in step with the agencies that regulate them. The enhanced offering, PlaybookAI, includes integration with the latest model from OpenAI enhancing users’ ability to search compliance questions and return responses quickly and efficiently.
For more information on Playbook Europe, visit OddsOnCompliance.com.
Continue Reading

Compliance Updates

Spinomenal is set for Switzerland after gaining its B2B permit

Published

on

Reading Time: < 1 minute

Spinomenal, the leading iGaming content provider, is set for launch within the Swiss iGaming market after gaining its B2B permit from regulator Eidgenössische Spielbankenkommission (ESBK).

An integral element in Spinomenal being able to enter the Swiss iGaming space was the fact the company already has its ISO 27001 certificate, an international standard for best practices for information security.

Swiss iGaming players will now be able to access Spinomenal’s stunning library of slots content that includes Demi Gods II, Book of Rebirth, Majestic King and Poseidon’s Rising. Further good news for Switzerland’s online casino community is that they will also be able to begin exploring Spinomenal’s epic Universe concept which binds narratives from a wide selection of its most popular titles.

 

Spinomenal’s CEO, Lior Shvartz, commented: “We’re very happy to be entering the Swiss market riding on the back of our top-class slots portfolio and supported by our ISO 27001 certificate. The regulated Swiss online casino space represents a great opportunity for us as we continue to deliver on our expansive roadmap.”

Continue Reading
Advertisement

GambleDex

Trending

Get it on Google Play

European Gaming Media and Events is a leading media and boutique event organizer in the European Union with a monthly reach of +110,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2022 European Gaming Media and Events. 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.