Regulation round-up 15 August 2017
The biggest regulatory news from the egaming industry in the last seven days (8 August to 15 August 2017)
Australian Parliament rubber stamps IGA Bill
Legislation expected to come into force week commencing 11 September after Senate approved an amendment on credit betting
Australia’s Interactive Gambling Amendment Bill 2016 (IGA Bill) is expected to come into force next month after the Bill was finally rubber stamped today by both Houses of Parliament.
The IGA Bill, which aims to clarify rules on offshore wagering, including the ban on online poker and in-play ‘click-to-call’ betting, was passed by the Senate this morning and will be sent to the Governor-General for Royal Assent.
The legislation is expected to receive Royal Assent next week and will then come into force the week commencing 11 September 2017.
Malta Gaming Authority to regulate blockchain technology by 2018
The Malta Gaming Authority is aiming to roll-out a regulatory framework for blockchain technology by Q1 2018.
Chairman of the MGA, Joseph Cuschieri told EGR Intel blockchain technology was adaptable within the online gambling space, and offered “a robust platform for a transparent gaming economy”.
An MGA commissioned technical study on the regulation of crypto and blockchain-powered technology has now been completed, and the next move is to publish a formal guidance document for operators and other stakeholders.
Esports Pools secures “world first” skins betting licence
ESports fantasy league site esportsPools has secured the “world’s first” licence to allow gambling with virtual goods on its ESP.bet real-money gambling site.
Issued by the Isle of Man Gambling Supervision Commission (GSC), the licence enable ESP to offer skins betting, which is currently illegal under all other European licences.
Skins are in-game items like weapons or outfits, and Eilers and Narus estimate that $5bn in skins were used to bet on esports in 2016.
Swedish industry calls for more consumer protection in re-regulated market
Swedish industry professionals have called for tougher consumer protection measures in their responses to Swedish plans for re-regulation.
The calls stem from a consultation period, which closed on Friday, allowing key stakeholders to give their input on the country’s forthcoming gambling regulatory framework.
Monopoly operator Svenska Spel highlighted the lack of responsible gambling initiatives, suggesting that more stringent responsible gambling measures should be considered by the government.
Nektan hit with ad ban for unclear Ts&Cs
Nektan has been hit with an advertising ban by the Advertising Standards Agency (ASA) after failing to clearly display the full terms and conditions of a bonus on its Sapphire Rooms casino site.
The ad in question was seen on the Sapphire Rooms site in January and said new customers could win up to £500 in welcome bonuses.
However, a complaint was made that the promotion failed to clarify a cap on bonus related winnings that meant the customer was only able to withdraw 4x the bonus amount they received.