EC approves Italian exchange decree
Betfair and Microgame the only operators to express an interest in launching such a product in Italy.
Italian-licensed operators could soon be able to offer exchange betting in the jurisdiction after the European Commission approved January’s ministerial decree.
The EC decision took longer than the standard three months following an opinion from Spain, but legal blog GamingTechLaw suggests that the EC approval represents a green light for the Italian regulator AAMS to introduce legislation.
Speaking to eGaming Review at the time the decree was introduced, AAMS’ head of remote gaming Francesco Rodano explained that the decree would return to the Italian administration for further comment after receiving clearance from the EC.
Rodano explained that it could still be another three to five months before the decree is passed into law, with ministerial decrees facing an extra stage in the process in comparison to other forms of decree like that which brought about the introduction of cash poker and casino games in the EU member state last year.
The further delay could provide an opportunity for more operators to express an interest in applying for an exchange betting licence in Italy, with only two to date giving any indication that they might apply.
Upon the introduction of the decree in January, Betfair’s head of legal and regulatory affairs Martin Cruddace saying: “This decree signifies the positive ongoing development of online gambling regulation in Italy.”
The exchange betting operator, which is to launch a fixed-odds sportsbook ahead this summer’s Euro 2012 football championships, had its Italian licence suspended for three months in January 2011, after it was accused of bypassing the ban on exchange betting by offering the product in the market through its dot.com site alongside its licensed dot.it portal, which did not allow customers to bet on the exchange.
Since then People’s Poker Network operator Microgame also suggested it would prepare an application for such a licence, having entered into a partnership with Betdaq operator Global Betting Exchange in March.
Microgame CEO Fabrizio d’Aloia said at the time that “Our expectations are very high, thinking both at the technological developments and at the business opportunities that it will bring to our gaming operators and their customers.”