New Irish regulator granted power to issue fines of up to €20m
Ireland’s government targets no-nonsense regulatory regime with full oversight of licensed industry set to begin in 2023
Irish-licensed operators could face regulatory fines of up to €20m under new powers granted to the country’s new gambling regulatory entity.
Contained within the General Scheme of Gambling Regulation Bill, the legislation allows the future regulator to issue fines where it is “appropriate and proportionate” to do so.
Calculation of fines will take into account an operator’s turnover during the period in which the offence occurred and the degree of cooperation between the affected individual/operator and the regulator.
The bill allows for a €20m sanction against an individual and in the case of an operator, a fine of either €20m, or 10% of the operator’s turnover, depending on which is greater.
All fines paid will be paid into the Irish exchequer, independent of funding allocated to the new regulatory entity.
In addition to the fines, the Irish regulator will be able to revoke licences, seize accounts and stop payments made to operators.
The bill envisions the creation of the new regulator as soon as possible, with a statutory deadline of 2023 for full regulatory oversight to begin.
The regulatory authority will consist of seven members, overseen by a CEO to be chosen by the Irish government, with a maximum term in office of four years.
The Irish government has allocated €500,000 of its 2021 budget to fund the search for the new CEO.
In line with other European bodies, the Irish regulator’s key objectives include ensuring gambling is conducted safely and fairly, mitigating problem gambling and preventing fraud.
The regulator will be tasked with drawing up three-year strategic plans and reporting back to the Irish government on an annual basis.
It can determine licence length, maximum stake limits and the types of prizes which can be offered by operators.
It will also have the power to licence operators and collect licence fees based on the size of the operator involved, its turnover and the types of gambling it intends to offer, including B2C and B2B licences for both retail gambling and online.
A central register of licensees will also be developed by the regulator.
The offer of free bets by licensees and any form of inducement to gamble is prohibited under the new regime.
The regulator is also empowered to create codes to govern gambling advertising, including timing and the content of any messaging and promotions used.
It also has the power to create rules governing gambling sponsorship agreements between sporting entities and operators.
Finally, the Irish regulator will also have oversight of a social impact fund, which will be used to fund research, education and treatment of problem gamblers, as well as the establishment of a governance committee.