As the European Commission ponders whether the European Union needs rules for cryptoassets and trading in virtual currencies, EU states are moving ahead with their own regulations, with the smallest of them, Malta, leading the pack. The risks of investing in the industry were made clear last year when Bitcoin, the most successful cryptocurrency, lost […]

As the European Commission ponders whether the European Union needs rules for cryptoassets and trading in virtual currencies, EU states are moving ahead with their own regulations, with the smallest of them, Malta, leading the pack.

The risks of investing in the industry were made clear last year when Bitcoin, the most successful cryptocurrency, lost three-quarters of its value from a peak around $20,000 in late 2017. The market capitalization of cryptoassets dropped to $110 billion at the end of January from $830 billion a year earlier.

These market developments have occurred in a “legal vacuum”, said Robert Ophele, the head of France’s financial regulator. Speaking at a financial-technology conference in Brussels, he urged the EU Commission to propose new regulations to address risks.

Last month, EU regulators called for new rules to prevent money laundering and protect investors. But the Commission, the sole source of new EU legislation, so far has avoided taking action, fearing it will hamper the nascent industry.

“We have to make sure that our financial sector rules do not inadvertently hinder useful innovation,” said the financial services commissioner, Valdis Dombrovskis. Brussels was still considering whether EU action was needed, he said.

 

Individual EU states are moving into the vacuum, despite risks that uncoordinated action could weaken the EU market. The French parliament is passing cryptoassets legislation, and Germany’s finance ministry has begun a consultation on a blockchain strategy that will be published before summer.

Smaller states are ahead of them. Luxembourg passed its rules this year, and the Baltic countries have long been active in the sector, industry consultant Peter Moricz said.

The boldest is Malta, which has set up a broad regulatory framework and aims to become Europe’s cryptohub.

“We are the first EU jurisdiction to have a complete framework that caters for all key areas of risk: the risks to consumers, market integrity, financial crime and cyber security,” Joseph Cuschieri, the head of the Maltese financial regulator, told the Brussels conference.

The Mediterranean island is already home to the EU’s largest online gambling industry and a large financial-services sector, which have been drawn there by advanced regulation and low taxes.

But these successes have partly been marred by foreign investigations of several gambling firms and banks on the island that have exposed weak enforcement by local authorities.

“As a result of these failures, we have learnt how to strengthen our supervision,” said Christopher Buttigieg, a top supervisor at Malta Financial Services Authority.

The UK Gambling Commission has welcomed the recommendations from the Responsible Gambling Strategy Board (RGSB) on the new national strategy, which intends to prevent gambling harms. UKGC is likely to publish the new strategy in April. The RGSB, which advises the commission independently, has offered a range of recommendations on what the priorities to reduce gambling harm […]

The UK Gambling Commission has welcomed the recommendations from the Responsible Gambling Strategy Board (RGSB) on the new national strategy, which intends to prevent gambling harms. UKGC is likely to publish the new strategy in April.

The RGSB, which advises the commission independently, has offered a range of recommendations on what the priorities to reduce gambling harm should be, and on the arrangements necessary to implement the strategy effectively.

The advice will now be considered, along with comments from stakeholders and the public which were submitted through a public consultation. The consultation, which ended on 15 February, resulted in detailed feedback from consumers, charities and industry stakeholders on how to develop what will be the successor to the current National Responsible Gambling Strategy.

Helen Rhodes, programme director at the Gambling Commission, said: “We fully welcome RGSB’s advice on the new National Strategy, and will carefully consider these recommendations from our expert advisors on how best to make lasting progress to reduce gambling harms.”

“Alongside the consultation responses we’ve received from a variety of stakeholders, RGSB’s advice is a significant step to develop and launch a strategy to deliver the greatest possible impact to further reduce gambling harms.”

Sir Christopher Kelly, chair of the RGSB, added: “We welcome the Commission taking responsibility for delivery of the next strategy and ensuring adequate and appropriate steps are taken to reduce gambling-related harms from the wide range of stakeholders from whom action will be required. We believe that there is a significant opportunity to make real progress over the next few years. We have made clear in our advice, however, that we think success will require changes in mindset, partnership arrangements, in the approaches to prevention and implementation, and in funding.”

Britain is getting more strict with its age verification rules for online gambling, so as to prevent underage children from engaging in gambling activities. Now, online gambling sites are required to thoroughly verify the identities of each and every one of their customers before they can deposit funds into their accounts or before they can […]

Britain is getting more strict with its age verification rules for online gambling, so as to prevent underage children from engaging in gambling activities. Now, online gambling sites are required to thoroughly verify the identities of each and every one of their customers before they can deposit funds into their accounts or before they can start gambling. These new rules will be in effect starting May.

The current law allows punters to deposit funds into their accounts even before operators can carry out their age verification checks. However, they are not allowed to withdraw any winnings until their age is verified. If the gambler turns out to be underaged, their initial stake must be returned by the operator. Gambling operators have 72 hours to carry out the required age verification checks.

This process has been toughened, as The Gambling Commission has moved to tightened the laws so as to reduce any risk of children engaging in gambling activities through online sources. According to the commission, this move would help the operators in preventing any harm and detecting criminal activities. It would also help in the identification of “self-excluded” customers who may be trying to indulge in gambling.

The new measures, however, will not allow operators to delay payouts to customers on the basis of age verification rules. Moreover, they acknowledge that it could result in “greater levels of friction” when new customers try to sign themselves up for these services.

Operators to clearly inform customers what information to provide

Now, the new rule requires operators to obtain, as well as verify information from their customers so that they can establish their identities before they start to engage in any gambling activity. Information such as the name, address and date of birth of the customer are a must. If a customer makes a request to withdraw funds from his/her account, the operator must not ask them to supply any additional information if they could have “reasonably requested that information earlier.” However, if the operator needs to obtain any information from the customer due to any legal obligation, they can do so.

Operators must clearly inform customers before they deposit funds, what information and documents they will need to provide, why they need to provide such information, and the manner in which they could provide it. It is also up to the operators to ensure that whatever information they obtain is accurate.

The Gambling Commission has today announced new rules which online operators must follow to make gambling safer and fairer. The new rules, which follow an open consultation, will ensure operators verify customers’ age and identity details faster which will benefit consumers. Until now, online gambling businesses have been allowed 72 hours to carry out age verification checks. […]

The Gambling Commission has today announced new rules which online operators must follow to make gambling safer and fairer.

The new rules, which follow an open consultation, will ensure operators verify customers’ age and identity details faster which will benefit consumers.

Until now, online gambling businesses have been allowed 72 hours to carry out age verification checks. The operator cannot permit customers to withdraw winnings until age verification has been completed and must return stakes if the person is found to be underage.

But to guard against the risk of children gambling, new rules mean operators must verify customer age before the customer can:

– deposit funds into an account

– gamble with the licensee with either their own money or a free bet or bonus.

In addition, the Commission is now also insisting that customers must be age verified before they are able to access free-to-play versions of gambling games on licensees’ websites. While free-to-play games are not technically gambling (there is no prize involved), there is no legitimate reason why they should be available to children.

In March 2018 the Commission announced that some online operators were treating customers unfairly by requesting additional identity information when the customer attempted to withdraw winnings. Around 15% of complaints to its contact centre were about licensees not allowing a customer to withdraw funds until they submit certain forms of ID.

The new rules require remote licensees to:

– verify, as a minimum, the name, address and date of birth of a customer before allowing them to gamble

– ask for any additional verification information promptly

– inform customers, before they can deposit funds, of the types of identity documents or other information that might be required, the circumstances in which the information might be required, and how it should be supplied to the licensee

– take reasonable steps to ensure that information on their customers’ identities remains accurate.

The changes will help operators better prevent harm or detect criminal activity because they have more information about their customers. In addition, the changes will mean that operators cannot demand that customers submit ID as a condition of cashing out, if they could have asked for that information earlier.

Finally, the changes will increase the likelihood that someone will be identified if they attempt to gamble while self-excluded. This applies equally to the operator’s own self-exclusion schemes and the online multi-operator self-exclusion scheme, Gamstop. This is because effective verification by operators will mean that a customer will not be verified, and therefore unable to gamble, until they provide correct details. These details will then be checked against both the operator’s own self-exclusion database and the verified data held by Gamstop. 

Neil McArthur, Gambling Commission Chief Executive, said: “These changes will protect children and the vulnerable from gambling-related harm, and reduce the risk of crime linked to gambling.  They will also make gambling fairer by helping consumers collect their winnings without unnecessary delay.’’

“Britain’s online gambling market is the largest regulated market in the world and we want to make sure it is the safest and the fairest. Today’s changes follow our review of online gambling and our ongoing widespread regulatory action into the online sector.  We will keep using our powers to raise standards for consumers.”

Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, said:

“These significant changes mean operators must check someone’s age before they gamble, and not after. They rightly add an extra layer of protection for children and young people who attempt to gamble online. By extending strong age verification rules to free-to-play games we are creating a much safer online environment for children, helping to shut down a possible gateway to gambling- related harm.”

The new rules come into force on 7 May.

The Gambling Commission will shortly be launching a consultation on plans to make explicit our expectations about how to interact with a customer who may be experiencing gambling-related harm and will be calling for evidence on the use of gambling blocking software.

The All-in Diversity Project, an industry-driven initiative that aims to benchmark diversity, equality and inclusion in the global gaming sector, is proud to welcome one of the world’s leading gaming regulators as a Strategic Partner.   The MGA, one of the first jurisdictions to embrace online gaming and continue to keep pace with new technology […]

The All-in Diversity Project, an industry-driven initiative that aims to benchmark diversity, equality and inclusion in the global gaming sector, is proud to welcome one of the world’s leading gaming regulators as a Strategic Partner.
 
The MGA, one of the first jurisdictions to embrace online gaming and continue to keep pace with new technology and trends in the industry, is now turning its attention to the challenges of a changing workforce, through its new partnership with the All-In Diversity Project.
 
Malta is one of the world’s biggest gambling hubs, boasting one of the most diverse workforces in the industry. So far this has been more by accident than design. Joining forces with the All-In Diversity Project allows for a more scientific approach. The alliance means greater exposure for the issues surrounding diversity in the betting and gambling sector in Malta and will help address issues like the skills gap, recruitment and retention of talent from the local talent pools and globally.
 
‘’The Malta Gaming Authority is delighted to be supporting this project, as diversity, equality and inclusion are all on top of the MGA’s agenda.”. says Heathcliff Farrugia, the Chief Executive Officer of the Malta Gaming Authority.
 
“Having the MGA support the All-in Diversity Project is another leap forward for our industry. Working in collaboration with leading regulatory organisations such as the Malta Gaming Authority means we can accelerate progress, share more information and offer better tools to the businesses located there. We are thrilled to have them as a partner,” says Kelly Kehn, Co-Founder of the All-In Diversity Project.

The Malta Gaming Authority has received more than 20 applications from new gaming companies to start the licensing process in order to operate from Malta, according to Parliamentary Secretary Silvio Schembri. Speaking at the 2019 edition of ICE London, Mr Schembri said ICE London was the perfect platform for Malta to showcase itself as the ‘home of […]

The Malta Gaming Authority has received more than 20 applications from new gaming companies to start the licensing process in order to operate from Malta, according to Parliamentary Secretary Silvio Schembri.

Speaking at the 2019 edition of ICE London, Mr Schembri said ICE London was the perfect platform for Malta to showcase itself as the ‘home of gaming excellence’.

Around 11 per cent of the exhibitors at ICE London are Malta-based which means that aside from exhibitors from the hosting country (UK), Malta has the highest number of exhibitors, followed by the United States.

Mr Schembri said that operators and investors were highly interested in Malta’s proactive stance on embracing new technologies, particularly the guidelines that the Malta Gaming Authority issued on the use of Distributed Ledger Technologies and acceptance of Virtual Currencies in a Sandbox Environment.

“The interest in the new law was overwhelming since it lessens by far unnecessary bureaucratic procedures as well as strengthens the regulator’s role to be in a better position to tackle challenges while keeping in mind consumers’ protection,” Mr Schembri said.

The government of Turkey has started a nationwide illegal online gambling crackdown, even as its search for a new technology partner for the functioning of state-run sports betting is on. The Cybercrime Division Branch of the Istanbul Security Directorate conducted simultaneous raids across 40 provinces.

The government of Turkey has started a nationwide illegal online gambling crackdown, even as its search for a new technology partner for the functioning of state-run sports betting is on.

The Cybercrime Division Branch of the Istanbul Security Directorate conducted simultaneous raids across 40 provinces. As many as 5000 police officers were involved in the raids, which resulted in the arrest of 394 individuals. The police arrested 207 persons from Istanbul alone.

The raids were conducted after it was found that a number of companies that ostensibly doing other businesses such as cosmetics, food and travel were actually involved in illegal gambling operations. It was also found that these companies conducted wagers worth TRY3.5b (US$671m) through a total of 4,345 local bank accounts. The raids have so far resulted in the seizure of TRL42m, $94k and €133k.

The nabbed persons could receive stiff fines and likely prison sentences, as Turkey has stringent anti-gambling laws. According to the Turkish law, gambling outside the state-run SportToto (sports betting) and Milli Piyango (lottery) operations are prohibited. But it is estimated that Turkish gamblers continue to wager around $11.4b each year via unauthorised channels.

The Gambling Commission has launched an investigation into the use of non-disclosure agreements (NDAs) in operators’ settlements with customers after claiming they could breach licence conditions. Guidance released by the regulator states NDAs should not result in consumers feeling that they cannot notify the Commission, other regulators or law enforcement agencies of conduct which might […]

The Gambling Commission has launched an investigation into the use of non-disclosure agreements (NDAs) in operators’ settlements with customers after claiming they could breach licence conditions.

Guidance released by the regulator states NDAs should not result in consumers feeling that they cannot notify the Commission, other regulators or law enforcement agencies of conduct which might otherwise be reported.

Licensees should also notify the regulator of offences set out under the Gambling Act, including breaches of licence conditions or social responsibility codes of practice.

The Commission also said it is keen to ensure consumers do not refrain from reporting matters to the regulator because they anticipate a settlement that contains a condition stating they will not complain to the body.

In addition, the regulator said operators must ensure consumers suffering with gambling-related problems should be able to freely discuss their gambling history with treatment providers.

In a statement, the regulator said: “Some of these agreements may have had the effect of preventing those consumers from reporting regulatory concerns to us, by either excluding disclosure to any third party or, in some cases, explicitly preventing customers from contacting the Gambling Commission.

“We recognise that in certain commercial contexts, use of NDAs is commonplace and such agreements, when used properly, can benefit both parties. Examples of appropriate use might include resolving supplier or intellectual property disputes.”

The Commission said it would consider NDAs were being improperly used if their effect was to prevent, impede or deter a person from reporting misconduct or a breach of regulator requirements; reporting an offence to a law enforcement agency; co-operating with a criminal investigation or prosecution or making a protected disclosure under the Public Interest Disclosure Act 1998.

The regulator said it could also take action if it found that an NDA was stopping a consumer from seeking treatment for problem gambling and discussing their gambling history with treatment providers, or if its purpose was to influence the substance of such a report, disclosure or co-operation.

“If a customer in the course of negotiating a settlement agreement states that they intend to report a matter to the Commission, we expect licensees will normally be able to inform the customer that they have already self-reported the incident,” the Commission said.

“When there is a failure to self-report to us…and there has also been a settlement agreement containing an NDA concluded in relation to the underlying facts, this may be seen as an aggravating factor in any regulatory action the Commission may choose to take.”

In recent months, the Commission has taken a number of steps in an effort to enhance its consumer protection efforts and responsibly gambling measures. This year, it will launch a new strategy covering 12 priority actions, ranging from consulting a culture of evaluation to piloting intervention.

British online gambling company 888 Holdings Plc said on Thursday Chief Executive Itai Frieberger was stepping down, and would be replaced by Chief Operating Officer Itai Pazner. Frieberger, who worked with the company for more than 14 years, will remain as a director for a period of up to 12 months. Itai Pazner, the new CEO of 888, […]

British online gambling company 888 Holdings Plc said on Thursday Chief Executive Itai Frieberger was stepping down, and would be replaced by Chief Operating Officer Itai Pazner.

Frieberger, who worked with the company for more than 14 years, will remain as a director for a period of up to 12 months.

Itai Pazner, the new CEO of 888, said: “I am honoured to become the new CEO of 888. 888 has a brilliant team and culture across the business, which is led by a talented and vastly experienced operational management team.” He added, “Frieberger is hugely admired both within 888 and throughout the online gaming industry and he has been instrumental in the Group’s significant development over many years. I am very excited at the prospect of building on his work and continuing to deliver the group’s clear growth strategy by further enhancing our technology and growing 888’s presence across products and global regulated markets.”

NetShop ISP will be attending ICE London 2019 to explore the potential across the various igaming sectors and offer its solutions to companies around the globe. ICE London is an international B2B Gaming industry exhibition. It is taking place at ExCel London from 5-7 February 2019 to engage with the latest solutions, content and networking […]

NetShop ISP will be attending ICE London 2019 to explore the potential across the various igaming sectors and offer its solutions to companies around the globe.

ICE London is an international B2B Gaming industry exhibition. It is taking place at ExCel London from 5-7 February 2019 to engage with the latest solutions, content and networking opportunities across the globe and across all sectors of gaming.

Book a meeting to guarantee a time slot for a private meeting.

SiGMA is reaching out to affiliates and operators located beyond the Euro-Med shores and treating them to a luxurious, no-expense-spared stay in Malta. The 500 affiliates and operators who take up this offer will benefit from a stay in a 5-star room at the Hilton. Guests will also enjoy a full complement of VIP networking dinners. […]

SiGMA is reaching out to affiliates and operators located beyond the Euro-Med shores and treating them to a luxurious, no-expense-spared stay in Malta.

The 500 affiliates and operators who take up this offer will benefit from a stay in a 5-star room at the Hilton. Guests will also enjoy a full complement of VIP networking dinners. Prepared by some of the best chefs in the industry and held at some of the most exclusive restaurants on the island, diners will have plenty of chance to connect with fellow industry dignitaries as they take in some of Malta’s finest views.

2018 saw the 5^th incarnation of the show surpass all expectations – setting the standard for future events. With some of the biggest brands in the industry signing on to exhibit and sponsor at SiGMA’s premier event, and a record-breaking 12,500 delegates welcomed through its doors, the expo has cemented itself as a solid fixture on the world’s iGaming calendar.

The three-day-affair saw a wide range of topics discussed at a high level during the six conferences and workshops, with a number of prominent speakers taking the stage. From the interplay of blockchain with iGaming, to a conference dedicated to the regulatory changes in iGaming law – delegates were treated to quality debate on some of the most pressing issues affecting the sphere.

SiGMA Pitch also made a triumphant return, providing a space for innovative young start-ups to gain valuable exposure on the expo floor, score exclusive invites to networking events, and reel in potential funding and mentoring from industry veterans.

Since its inception, the flagship show has evolved to become a global influencer on the iGaming world stage. If last year’s numbers are any prediction, 2019 is set to smash all previously held records, giving the company’s ambitions plenty of space to play out.

There can be no doubt that as Malta continues to position itself as a haven for industry, SiGMA has found its niche within a booming economy. 2019 will continue to see the high-levels of quality the sector has come to expect,  creating opportunity for industry players to contribute to the wider conversations affecting the iGaming sphere and encouraging business to flourish on the islands.

iGaming also is known as online gaming has become popular for several years now. People love it. As a matter of fact, there is a projection that by the year 2021, the estimated revenue would reach $1 trillion according to a digital technology analyst, Jupiter Research. And the biggest winners are the online casino operators […]

iGaming also is known as online gaming has become popular for several years now. People love it. As a matter of fact, there is a projection that by the year 2021, the estimated revenue would reach $1 trillion according to a digital technology analyst, Jupiter Research. And the biggest winners are the online casino operators worldwide.

In iGaming, the acquisition of standard players and retention techniques has these requisites:

• A license
• Reliable web hosting
• Popular slots (i.e. Microgaming and Betsoft)
• Loyalty programs
• Jackpots
• Live games

The unstoppable popularity of iGaming has opened the opportunity for the new trends to arise this year, 2019. 

iGaming Pop Trends This Year

Below are the top trends in 2019 vis-à-vis online gaming. Knowing them is important so that if you’re interested to join in the industry, you will determine if it is good or not.

1. New markets in online gaming have opened

The forecast before that the market of Internet-based gaming is going to expand is now a reality. This year alone, there are a number of new markets in iGaming. As a fact, the Eastern Europe part of the world is now joining this new gambling reality which is done through the Internet. Due to some country-based regulatory impediments, some standalone countries are employing legal remedies so that they can conform to the European Union standards. The new countries that are just joining are Romania, Czech Republic, and Poland.

Not only that. Even in Africa, online gaming has penetrated already. In the Republic of South Africa, the recorded revenue has reached $1.2 billion. Japan in Asia is also one of the countries that are enjoying gambling through the World Wide Web. The newly targeted markets are the Philippines, Georgia, and Kazakhstan.

2. Telegram-based online casino is working at present

According to iGaming operators and players, telegram casino has certain benefits and advantages. It has led to a more popularisation of online gambling. Social media channels have widely been used. Those channels include Facebook, Viber, WhatsApp, and Telegram. They serve as hassle-free, zero-risk, and convenient channels. Their use has led to a more simplified gambling method. And it is so amazing because even if there is a slow Internet connection, iGaming through those channels is still popular on a day-to-day basis. Consequently, the telegram communication system is edging and it has become a secure communication link for iGamers.

Telegram-run casino has these features:

• Player anonymity
• Availability in any country
• Low Internet speed, not a big deal
• No paid advertising needed
• Hassle-free communication links

3. VR and live casinos are trending

This year has marked the popularity of VR and live casinos. Online casino owners have this goal – to attract players and to hook them to use their iGaming platforms. Online games today are more engaging than those in the past. There is so much attraction given to the possibility of winning a big jackpot prize. It has led to the popular use of virtual reality (VR) technology. 

VR actually aids the operators in the aspect of providing the customers with a more realistic winning system. With virtual reality tech, the immersion process is more exciting. The leading companies that popularise the use of VRs are Novomatic, Microgaming, and NetEnt.

Furthermore, live casinos remain its spot on the trending list this year. Live casinos are just like the physical-based casinos with the use of an additional tool – the VR tech. Companies like Microgaming have live dealers that facilitate online gamers. The entire process is smooth. That’s why live gaming is a trend in the current year.

4. Cryptocurrency and blockchain technology work their best

There is another triggering factor that hastens the dramatic popularisation of iGaming for several years now. This is the blockchain technology. With the different blockchain startups globally, the transactions of the iGamers have become so fast, speedy, and suave. Despite the volatility of the cryptocurrency market, online gamers are still using this decentralized monetary system. Because there are no strict regulations from various governments all over the world, gaming online has been in fast-pacing mode.

Conclusion

Online gaming is not at its peak yet. It has just begun. According to this article, it is even going up and up. The global gambling industry as a whole has amassed the biggest revenue of all time in the last 5 years or so. And it is becoming even greater in the coming years.