Breaking: Italy introduces exchange betting decree
Betfair first operator to pledge support.
A ministerial decree has been published which could see exchange betting regulated in Italy in the next few months.
Following its publication with the European Commission a standstill period of three months has begun, after which “ providing there are no objections “ the decree will return to the Italian ministry of finance for further discussion before it can be passed into law.
Francesco Rodano, head of remote gaming at Italian regulator AAMS, told eGaming Review that the second stage of the process may take longer than when the country approved cash poker legislation in July last year, as the exchange decree is ministerial rather than administrative and therefore has the potential to be met with more internal opposition.
“We have to wait three months for the EC and unless there are any objections we can then go on through the process. It’s impossible to be certain how long that will take, but it is likely to be another three to five months after the standstill period.” Rodano explained.
“With the exception of the initial legislation in 2007, earlier legislation was not introduced in the form of a ministerial decree so everything could be done in-house [once EC clearance arrived]. This time there are some within the Italian administration who will have to pass comment,” he added.
Betfair has made public its support for the latest development, with Martin Cruddace, chief legal and regulatory affairs director for the Gibraltar-based operator, saying: “This decree signifies the positive on-going development of online gambling regulation in Italy and demonstrates that the Italian authorities have full confidence that the introduction of betting exchanges will be a good move for both consumers and the betting market in general.”
Rodano confirmed to eGR that no operator aside from Betfair had made public its intention to apply for an exchange betting licence in the regulated territory, but he admitted that others had suggested they may apply once relevant regulation is passed.
AAMS has also introduced a decree allowing for the regulation of virtual sports betting, covering both online and offline, although Rodano explained that there are no plans for new legislation on fixed-odds betting.