Well-Organized Regulatory Framework Is the Core Pillar of the Gambling Industry

Following the Supreme Court ruling in May 2018, many states in the US have started opening their doors not only to sports betting, but other forms of gambling such as online and mobile wagering as well. Massachusetts is one of the latest regions to embrace sports wagering, with Kansas to join the list very soon.

As for the rest of the world, European countries are continuously contributing to making the industry safe by implementing versatile player protection measures. Some South American and Asian countries are preparing to open the market and are in the process of establishing the necessary regulatory framework.

A Rather Quiet Month in the United States

Let’s start with Massachusetts, as the busiest part of the US, where the Sports Betting Conference Committee reached an agreement on legislation to authorize and regulate sports betting. Governor Charlie Baker signed online and retail sports betting bill HB5164 into law.

According to the Bill…

…racetracks and casinos are permitted to offer online and retail wagering. In addition to this, 7 online-only sports betting licenses were given. The tax rates were set at 15% of the gross win for retail and 20% of the gross win for online betting. Also, betting on in-state college teams would be prohibited as well as depositing with a credit card.

Even though some regulators hoped it would be possible for legal betting to start early in September, the Gaming Commission clarified that it would take longer than that, due to the complexity of licensing process.

As for Virginia…

…Governor Glenn Youngkin approved the state’s budget which included regulations to prohibit sports wagering operators from deducting promotional spend from their tax obligations after they have been live in the state for 12 months.

In Kansas, the Racing and Gaming Commission gave its final approval to regulations to govern the state’s sports betting industry. Both retail and online sports wagering are expected to go live on September 1. To date, 6 operators submitted their applications for mobile betting.

Europe Takes Player Protection to Higher Level

Finland once again tightened its player protection measures, this time by restricting the operating hours of gaming machines in grocery stores. As far as Veikkaus instructed, the machines would only be available to customers between 9 am and 9 pm.

After ruling that the operators had not submitted sufficient evidence of the SOF, the State of Bremen, Germany, ordered all 32 land-based betting shops in the state to close and rejected their license applications. The decision was taken by the state parliament over fears of money laundering.

South America Overview

On August 12, 2022, President Pedro Castillo enacted legislation to authorize and regulate online gambling in Peru. As defined, the body in charge of supervising the industry is The Ministry of Foreign Trade and Tourism (MINCETUR). Following the enactment, the Ministry has to prepare the regulatory framework in the following 120 days.

Upon completion of the tender process, Chile's casino regulator Superintendencia de Casinos de Juego (SCJ) renewed the operating licenses of ten casinos. The permits were renewed for a second period of 15 years.

Highlights from Asia and Australia

On August 1, 2022, Singapore got a unified gambling regulator, the Gambling Regulatory Authority. This institution is now in charge of supervising the county’s whole gambling market.

Thailand is making a progress towards introducing gambling to the country…

…as the parliamentary committee investigating the possibility of putting these activities into law submitted its reports to the National Assembly. As far as suggested, the most convenient solution would be to establish integrated resorts, whose primary purpose would be to attract international visitors. In addition to this, Thai citizens over the age of 20 would be permitted to gamble. The suggested tax rate amounts to 30%.

Finally, in Australia, the Victoria Government presented a range of consumer protection measures for gaming machines in the state. Before the playing session starts, customers would be required to present an ID and impose a spending limit. The max spending limit in 24 hours is capped at AU$1,000.

Source:

H2 Gambling Capital, August 2022