Insights Archive

February 17, 2022

New Jersey Sports-Betting Juggernaut Keeps Rolling Even As New York Soars

Like two Olympic skaters sprinting for gold, New Jersey and New York are competing for the lead in the nation’s booming sports-betting market while racing in their own lanes.

February 17, 2022

Norway Warns Kindred To Leave Or Else Face Daily Fines

The Norwegian Gambling Authority is warning Kindred Group that it will be fined 1.2m Norwegian krone (€118,000) a day if it does not stop offering gambling to Norwegian residents.

February 17, 2022

Singapore Bills Unify Regulation, Prohibit Proxy Betting

Singapore has released draft legislation streamlining gambling regulation under one authority, while also criminalising proxy gambling, introducing “class licensing” for low-risk products and toughening existing penalties.

February 17, 2022

Minnesota Lawmakers Renew Effort To Legalize Sports Betting

Minnesota state Senator Roger Chamberlain believes there is finally enough support among his colleagues in both chambers of the legislature to overcome traditional opposition from Indian tribes and anti-gambling forces to legalize sports betting.

February 16, 2022

Singapore Consolidates Bills Into One Easy Payments Regulation

A new Singapore bill would consolidate a number of existing financial service regulations into one omnibus act and enhance the country’s agility in addressing sector-wide risks.

February 16, 2022

U.S. Banks Say AML Rules Are Ill-Suited For 21st Century

The current U.S. anti-money laundering (AML) framework does not account for advances in technology and is outdated, the American Bankers Association has said in its response to a request for information.

February 16, 2022

Desperately Seeking Standards - QR Code Payments In Europe

QR codes have major potential in the single market, but regulatory intervention may eventually be necessary, EU payments players have warned.

February 16, 2022

EBA Promises To Improve Q&A Backlog

The European Banking Authority (EBA) has agreed to get quicker at answering questions that are submitted regarding regulatory clarifications.

February 16, 2022

U.S. Gaming Revenue Hits Record $53bn In 2021

Despite having to navigate its way through the ongoing coronavirus pandemic, the U.S. gaming industry was able to top $50bn in revenue last year for the first time ever, according to the American Gaming Association.

February 16, 2022

Mississippi Pays Price For Punting On Mobile Sports Betting

The decision this month by Mississippi lawmakers to kick an online sports-betting bill down the road came back to haunt them this week with the release of the Magnolia State’s total wagers on the Super Bowl.

February 16, 2022

Austrian Finance Ministry Promises Gambling Changes Soon

The Austrian Ministry of Finance is working “at full speed” on a draft of a delayed set of proposed changes to gambling law, a ministry spokesman has said.

February 16, 2022

German Slots Applicants Not Allowed To Offer Bonuses, Lawyer Says

German contenders for virtual slots and poker licences should not be offering player bonuses while they await results of their applications, as offering incentives is considered illegal advertising, a gambling lawyer has said.

February 15, 2022

Kenya Jumps Into CBDC Race

The Central Bank of Kenya has begun a consultation on the issuance of a central bank digital currency (CBDC), but will the mobile payments heavy country actually need one?

February 15, 2022

HMRC Makes History With First NFT Seizure

HM Revenue & Customs (HMRC), the UK’s tax authority, has announced that three people have been arrested on suspicion of a £1.4m VAT repayment fraud involving 250 fake companies.

February 15, 2022

Brazil Presses On With Payments Modernisation Journey

Brazil has ambitious plans to continue on its successful path towards payments modernisation in 2022, bringing new features to its PIX instant payment network, expanding open finance functionalities and carrying out a central bank digital currency pilot.

February 15, 2022

Karnataka High Court Voids Ban On Skill Gaming With Stakes

The Karnataka High Court has struck down a state government ban on online skill gaming with stakes, in a judgment brimming with references to individual liberty, privacy and the freedom to do business.

February 15, 2022

Gambling Reforms Are Clear And Present Danger, UK Racing Warned

British racing faces a “clear and present danger” if the government gets changes to gambling law wrong and the next few weeks are "absolutely critical" to the sport's future, the gambling industry’s trade body chief has warned.

February 15, 2022

New York Lawmakers Continue Push To License Downstate Casinos

New York lawmakers are continuing their efforts to bring casino expansion to the downstate region sooner than originally planned.

February 14, 2022

EU Needs More Harmonisation On Access To Cash

Campaigners are sceptical about whether EU-wide rules offer enough of a lifeline for cash, and have called for better criteria to aid communities.

February 14, 2022

BNPL Firms Change Terms Amid FCA Concerns

Although regulations governing buy now, pay later (BNPL) are still in the making, the UK’s Financial Conduct Authority (FCA) has asked the largest providers to amend their “potentially” unfair contract terms and offered general guidance to firms operating in the sector.

February 14, 2022

Private Sector Takes Initiative In dSterling Pilot

A UK payment initiative to facilitate collaboration between the private and public sectors has launched with the intention to usher in a new era of digital payments using a central bank digital currency.