Insights

Excitement, caution and trepidation are gripping the UK gambling industry as operators attempt to predict the impacts of the ongoing Gambling Act review. 

Curaçao’s finance minister says the “worrying” possibility of a Financial Action Task Force (FATF) grey-listing next year over money-laundering risk has helped spur an overhaul of online gambling legislation.

Poland’s state-owned gambling operator says regulated play could top 80 percent of the national market if regulators have extra powers to fight the black market, and if gambling tax applies to gross gaming revenue (GGR).

After the launch of ISO 20022 for cross-border payments and reporting (CBPR+) in March this year, payment market infrastructures are moving to the new standard — but firms are yet to see its potential.

A fugitive former Wirecard executive has been accused of spying for Russia, EU financial regulators have released a report on critical ICT providers ahead of the Digital Operational Resilience Act, and US regulators have filed an anti-competition lawsuit against Amazon.

Thailand’s deputy leader has announced his support for legalisation of online gambling following raids on the homes of senior police accused of running gambling websites.

Still struggling with its case in a federal appeals court in Washington, D.C., a Miami-based pari-mutuel business is turning to the Florida Supreme Court to derail a tribal gaming compact that would re-launch sports betting in the Sunshine State.

The Czech gambling industry is nervously awaiting the final text of new regulations due to take effect at the start of 2024, with the promise of legal live dealer games as the most industry-friendly of a mixed bag of changes.

Colombian regulator Coljuegos has published a draft resolution that would cap advertising spend of gambling operators based on reported revenue, while banning sports-betting sponsorships by unlicensed operators.

Gambling operators are increasingly valuing the input of people with lived experience of gambling harm to help drive safer-gambling strategies, industry experts say.

On June 29, 2023, the Financial Services and Markets (FSM) Bill received royal assent to become the Financial Services and Markets Act 2023 (FSMA 2023). The FSMA 2023 revokes the EU retained law relating to financial services and markets in the UK and aims to promote investment and to support innovation within the economy. It introduces new secondary objectives for the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to facilitate the growth and international competitiveness of the UK economy through Sections 25 and 26. Section 25 covers the competitiveness and growth objective, while Section 26 covers the reporting requirements of this. The act enters into force at different dates.

With less than two weeks to go until new rules on crypto-asset promotions come into effect, the Financial Conduct Authority (FCA) has revealed that it has “serious concerns” about firms’ readiness to comply.

Officials at the European Banking Authority (EBA) and the National Bank of Belgium are facing “serious questions” about the cohesion of the EU’s new crypto framework and its payment services regime.

Mexico’s antitrust watchdog has urged the country’s financial regulators to fix what it says is an anti-competitive card processing market and establish an interchange fee cap.

After making its mark on UK gambling policy, the Campaign for Fairer Gambling launched in the U.S. on Tuesday (September 26) with a briefing for congressional staff and media at the U.S. Capitol building in Washington.

Startup sports-betting operator Betr has agreed to absorb the customer balances of a now-defunct daily fantasy operation that abruptly closed its doors over the summer, leaving customers in limbo.

As some Maryland lawmakers urge regulators to reopen the application window for sports-betting licenses, others are looking to push an internet gaming bill through the legislature when members return to Annapolis in January.

Chile intends to use a recent Supreme Court ruling involving one internet service provider to apply market-wide blocking of leading online betting sites, according to a top government official.

The head of Gibraltar’s gambling regulator has dismissed claims that its reputation as a gambling hub is under threat, as the jurisdiction prepares to update its regulations.

A new report by the Swedish government has raised doubts about the need for an e-krona, marking a change in tone for a country that was a first-mover in the study of central bank digital currency.