The Competition and Markets Authority (CMA) has launched an investigation into whether online gambling sites are treating their customers fairly. This has been done following the concerns raised by the UK Gambling Commission (UKGC). The UK’s competition watchdog CMA announced in its statement that together with UKGC they are sharing concerns related to “potential breaches […]

The Competition and Markets Authority (CMA) has launched an investigation into whether online gambling sites are treating their customers fairly. This has been done following the concerns raised by the UK Gambling Commission (UKGC).

The UK’s competition watchdog CMA announced in its statement that together with UKGC they are sharing concerns related to “potential breaches of consumer law, including misleading promotions and unfair terms, being used by firms to block players’ payouts.” The joint programme is created to ensure fair and transparent terms of gambling.

Nisha Arora, CMA senior director for consumer enforcement commented: “We’re worried players are losing out because gambling sites are making it too difficult for them to understand the terms on which they’re playing, and may not be giving them a fair deal; we are now investigating to see whether firms are breaking the law”.

“Gambling inevitably involves taking a risk, but it shouldn’t be a con,” Nisha Arora added.

Sarah Harrison, chief executive of the UKGC said the commission is having concerns that many terms and conditions in gambling industry “appear to bamboozle rather than help the customer make informed choices”.

“Gambling, by its very nature, is always going to involve risk but customers must have faith that if they win, they will not end up feeling that the deck is stacked against them because of an obscure condition that they did not properly understand,” explained Harrison.

The CMA says it will require evidence from gambling firms and will then establish whether further enforcement actions are in need. It is also asking UK punters to provide further details if any issues were faced.

Russia is launching a pilot program based on blockchain technology. The Russian government has teamed up with the country’s largest bank by assets, Sberbank, and the Federal Antimonopoly Service (FAS) for a project “Digital Ecosystem for Exchanging Documents”. They are designing an “electronic interaction model” using blockchain for storing and exchanging sensitive documents. “The goal […]

Russia is launching a pilot program based on blockchain technology. The Russian government has teamed up with the country’s largest bank by assets, Sberbank, and the Federal Antimonopoly Service (FAS) for a project “Digital Ecosystem for Exchanging Documents”. They are designing an “electronic interaction model” using blockchain for storing and exchanging sensitive documents.

“The goal of the project is to study the possibilities of distributed document storage, which may increase the speed, reliability and quality of interaction during document exchange,” announced FAS in its statement.

Blockchain technology allows documents to be transferred instantly. More importantly, electronic signatures make them cryptographically unforgeable.

The Ministry of Finance of the Russian Federations, has been expressing concerns about the implications of allowing cryptocurrency into its monetary system. The ministry officials have been working on a draft law that sees Bitcoin in its current form illegal in Russia and anyone involved in its use or engaged in cryptocurrency trade liable to prosecution, fines and a jail term.

The Russian government has now decided that it is necessary “to monitor the use of virtual currencies and analysis of risks of use of money surrogates for criminal activities.”

“This decentralizing approach cuts costs because data processing centers are not required and the requirements for equipment protection are lowered. It is noteworthy that Russia is one of the first countries in the world where the state and market participants are looking at these innovations as a way to simplify business operations,” commented deputy head of the FAS Russia Andrey Tsarikovskiy.

The UK Gambling Commission (UKGC) is introducing a number of changes to its licence conditions and codes of practice (LCCP) in order to prevent gambling related crime. The changes that will come into effect on October 31 will include the requirement for all licensees to report criminal investigations they are involved in. UKGC will also […]

The UK Gambling Commission (UKGC) is introducing a number of changes to its licence conditions and codes of practice (LCCP) in order to prevent gambling related crime.

The changes that will come into effect on October 31 will include the requirement for all licensees to report criminal investigations they are involved in. UKGC will also be expected to investigate whether the licensee’s measures to prevent crime in gambling have failed.

The Commission is also introducing a consolidated AML requirement, requesting licensees to manage the risk of their business being used for money laundering and terrorist financing.

A big emphasis is placed on policies and procedures set for cash handling and ensuring that adverts on licensees’ sites do not provide unauthorised access to copyrighted content.

The UKGC comments on the changes: “We think that the most effective regulatory approach is to focus on the outcomes we expect operators to achieve.”

“In some areas we specify particular rules or processes, but where possible, we aim to allow licensees to take differing approaches to meet our requirements; this includes using rapidly developing technological tools and data analytics,” UKGC adds.

The Commission has a power to take action against licensed operators who fail to comply with the conditions of their licence or codes of practice.

Youtube stars Craig Douglas and Dylan Rigby have pleaded not guilty to the charges of promoting a lottery and advertising unlawful gambling at a court in the UK, says BBC News report. This is the first time for British Authorities to charge people for their involvement in video game betting. The pair charged with offences […]

Youtube stars Craig Douglas and Dylan Rigby have pleaded not guilty to the charges of promoting a lottery and advertising unlawful gambling at a court in the UK, says BBC News report.

This is the first time for British Authorities to charge people for their involvement in video game betting. The pair charged with offences under the UK Gambling Act made a plea during a hearing at Birmingham Magistrates Court.

Douglas, who publishes gaming videos on YouTube under the name of ‘Nepenthez’, has 1.3 million followers on his YouTube channel. He had a separate case filed against him for inviting children to gamble by advertising a gambling website connected to video game Fifa.

The UK Gambling Commission has recently issued a warning to parents. It is emphasizing that children who play online video games can be drawn into ‘skins betting’, which is when virtual items are gambled online before being sold and turned back into real world money.

The case has been adjourned until February next year, when the court will hold a hearing expected to last a week.

The Philippine Amusement and Gaming Corporation (PAGCOR) received 76 applications for the new ‘offshore’ online gaming licenses. PAGCOR expects to award the first 25 online licenses before the end of October. The licenses will be valid for one year and PAGCOR says it might be changing the rules and regulations prior expiry date of the […]

The Philippine Amusement and Gaming Corporation (PAGCOR) received 76 applications for the new ‘offshore’ online gaming licenses.

PAGCOR expects to award the first 25 online licenses before the end of October. The licenses will be valid for one year and PAGCOR says it might be changing the rules and regulations prior expiry date of the licenses.

“It will last for a year and they (licensees) know that we might be changing the rules and regulations after that,” PAGCOR CEO Andrea Domingo said they will use the first three to six months of the new licensing regime to monitor the gaming activity.

The licensees will be permitted to offer online casino games and sports betting services exclusively to foreigners outside of the Philippines over the age of 21. Foreigners staying in the Philippines and Filipinos residing abroad will not be allowed to participate in the gaming activity.

Companies applying for an offshore gaming license had a fee of $50,000 in application for online casino and $40,000 for sports betting. Operators must pay another $200,000 for an online casino license and $150,000 for a sports betting license upon receiving confirmation of their approval from PAGCOR.

Tech giant Apple has removed dozens of applications for online casinos and betting from the App Store following the request from the Dutch Gaming Authority Kansspelautoriteit (KSA). Even though some online gambling operators were already banned from offering their services in Holland, their apps were still available in the App Store. Due to the recent […]

Tech giant Apple has removed dozens of applications for online casinos and betting from the App Store following the request from the Dutch Gaming Authority Kansspelautoriteit (KSA).

Even though some online gambling operators were already banned from offering their services in Holland, their apps were still available in the App Store. Due to the recent move by Apple, Dutch nationals will no longer have the opportunity to download gambling apps, including those from companies such as Unibet and Bwin.

According to the Dutch Gambling Authority, 55 Apps have been removed from the App Store, blocking at least 10,000 illegal downloads.

“One of the app stores heeded the request of the Gaming Authority and deleted initially 49 and later six so-called real-money gambling apps,” the KSA stated on its website.

The apps were not offered by Google.

Currently Dutch Government is working on a new legislation which will legalise online gambling apps for companies licensed to operate in the Netherlands. The legislation is expected to be in effect by 2018.

Allowing two local lottery operators to offer online betting provides a regulated and safe alternative for gamblers, said Minister for Social and Family Development Tan Chuan-Jin. His comments came as a response to the criticism that the decision to regulate online betting is in conflict with Singapore‘s Remote Gambling Act (RGA). As of 1st of […]

Allowing two local lottery operators to offer online betting provides a regulated and safe alternative for gamblers, said Minister for Social and Family Development Tan Chuan-Jin.

His comments came as a response to the criticism that the decision to regulate online betting is in conflict with Singapore‘s Remote Gambling Act (RGA). As of 1st of October punters in Singapore are allowed to bet online through two operators: Singapore Pools and Singapore Turf Club. The opponents of the decision claim that such move is sending “confusing and conflicting signals”.

Responding to his critics, Tan Chuan-Jin pointed out that regulating online betting will better protect the citizens that are drawn to these sites. He said that illegal online betting cannot be completely eradicated and in fact “is there and it is growing”.

“You can close down sites, but new sites will be set up, sometimes faster than you can close them down,” he said, according to The Strait Times. “It is a global market with a lot of money to be made, and the worst thing is that it is unregulated and there are no safety measures in place.”

The Minister said that the decision to exempt two operators was inspired by the examples in Norway and Hong Kong, which also allow a small number of legal betting operators. Tan Chuan-Jin claims that such technique will enable the government to spot and effectively moderate any problems before they have a chance to grow.

“If we don’t have this environment, what it means is that those who seek to bypass existing bans that are in place will then operate in a place that is completely unfettered,” the Minister said. “And I think that is quite dangerous, because they are exposed to criminal elements as well, over and above the social ills that come with gambling. So it is really a combination of these measures that we think would be one way to deal with the potential growing problem.”

UK government is said to be considering introducing a law that would ban gambling operators from TV advertising before the 9 PM watershed. According to a report in Times newspaper, the government is about to review the UK gambling industry and proceed with some changes. The Times quoted an unidentified senior minister saying „the gambling […]

UK government is said to be considering introducing a law that would ban gambling operators from TV advertising before the 9 PM watershed.

According to a report in Times newspaper, the government is about to review the UK gambling industry and proceed with some changes. The Times quoted an unidentified senior minister saying „the gambling industry’s luck has run out.”

According to current rules in UK, gambling companies are allowed to advertise before 9 PM only if the adverts are for bingo or the adverts appear during commercial breaks in live sporting events.

The Times‘ source claims that due to the sports exemption „betting sites can basically be advertising to children all weekend.”

It is reported that the Department for Culture, Media and Sport (DCMS) has identified these adverts as “an area of concern” and will review the possibility of removing daytime advertising for all gambling related activity.

An attempt to restrict gambling advertising is likely to be met with resistance from UK broadcasters, who could lose millions of pounds as the result.

South Africa is preparing new ways to fight against illegal online gambling. One of the new measures is government‘s right to confiscate any unlawful winnings. South Africa‘s Department of Trade and Industry (DTI) published the National Gambling Amendment Bill of 2016, which will be open for public comment until November 15, 2016. It proposes changes […]

South Africa is preparing new ways to fight against illegal online gambling. One of the new measures is government‘s right to confiscate any unlawful winnings.

South Africa‘s Department of Trade and Industry (DTI) published the National Gambling Amendment Bill of 2016, which will be open for public comment until November 15, 2016. It proposes changes to minimise social ills generally associates with gambling and to curb online gambling, said South Africa‘s Minister of Trade and Industry, Rob Davies.

Minister Davies said that even though the gambling industry contributes significantly to employment and the GDP in South Africa, the fact remains that it has a negative effect on gambling addiction. According to Davies, on average about R3000 monthly is spent by gamblers in the country.

According to 2004 Gambling Act, the government was required to appeal to the High Court in order to confiscate illegal gambling winnings. This part is repealed in the new proposal, enabling automatic forfeiture of illegal winnings to the new National Gambling Regulator

DTI Minister Rob Davies commented on monitoring gamblers’ online activity. “If you go online, we may not be able to stop you when you play the game, but when you win, we get you.”

Today only online sports betting is permitted in South Africa, any other type of online casino or poker remains illegal.

Online gambling will become legal in Singapore under tightly controlled conditions. The Ministry of Home Affairs (MHA) approved applications of two operators: Singapore Pools and Singapore Turf Club. MHA announced in their statement that the two companies were found suitable to be exempted from the Remote Gambling Act (RGA), which came into force in February […]

Online gambling will become legal in Singapore under tightly controlled conditions. The Ministry of Home Affairs (MHA) approved applications of two operators: Singapore Pools and Singapore Turf Club.

MHA announced in their statement that the two companies were found suitable to be exempted from the Remote Gambling Act (RGA), which came into force in February last year.

Singapore Pools will launch its web-based betting services on October 25 and Turf Club will launch new web and mobile platform on November 15. Both companies will offer online gambling for existing games and lotteries. Neither of them is permitted to offer new products without approval. Further, casino games or poker will not be available either.

The operators will also have to maintain social safeguards. Only those aged 21 and above will be able to open player accounts, no gambling on credit will be allowed, daily funding and gambling limits will have to be set. The fines of SG$1 million would be faced if the companies breach any of the conditions.

“ While our blocking regime is one of the most comprehensive in the world, and significantly restricts and impedes access to remote gambling, it is not straightforward to eradicate remote gambling totally. A complete ban would only serve to drive more remote gambling underground, making it harder to detect, and exacerbate the associated law and order and social concerns,” MHA said on the occasion.

“A tightly-controlled exempt operator regime mitigates such concerns. The stringent exempt operator regime is part of our multi-pronged strategy to deal with remote gambling, which includes comprehensive legislation, enforcement, blocking measures and public education.”

The exemption certificates will be valid for three years. Operators will have the option to renew them.

The tandem of Melco International Development Limited of Macau, Hard Rock of Las Vegas and Phassouri of Cyprus seems to be the one to win the Cyprus casino license after Cambodia’s NagaCorp pulled out of the race. According to a filing on the Hong Kong Stock Exchange, NagaCorp stated that it would not proceed to […]

The tandem of Melco International Development Limited of Macau, Hard Rock of Las Vegas and Phassouri of Cyprus seems to be the one to win the Cyprus casino license after Cambodia’s NagaCorp pulled out of the race.

According to a filing on the Hong Kong Stock Exchange, NagaCorp stated that it would not proceed to the final bid stage: “After careful review and given all the latest information available to us, the board of directors of the company wishes to inform that the company will not be participating in the RFP and the decision made is in the best interest of our shareholders and the company.”

The Cambodian casino operator put an end to the recent rumours that it was still in the running for the first-ever casino resort in the Republic of Cyprus. The recent change in the competition followed the announcement that Philippines-based developer Bloomberry Resorts Corporation will not proceed in the three-way race.

The final decision regarding the licence will be known at the end of this year. The winning Project is expected to open in 2019.

International Business Machines Corporation (IBM) announced its partnership with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to examine the design, management and execution of contracts using blockchain technologies. The pilot project will begin by automating corporate transactions between the two institutions. This is one of the first projects built on the Hyperledger Project fabric, which is […]

International Business Machines Corporation (IBM) announced its partnership with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to examine the design, management and execution of contracts using blockchain technologies.

The pilot project will begin by automating corporate transactions between the two institutions.

This is one of the first projects built on the Hyperledger Project fabric, which is an open-source blockchain platform, to use blockchain for real-life contract management on the IBM Cloud.

IBM said in their press release that together with Japan’s largest bank BTMU, they have created a prototype of smart contracts on a blockchain to improve the efficiency and accountability of service level agreements in multi-party corporate interactions.

Mr. Motoi Mitsuishi, deputy chief executive officer of BTMU Asia & Oceania and general manager, Singapore branch and corporate banking division for Asia & Oceania said on the occasion: “Blockchain technology has the potential to change not only the financial world, but also other areas of the business world, leading to improved efficiency of the end-to-end business process.”

IBM Industry Platforms senior vice president Bridget van Kralingen commented: “IBM continues to invest billions of dollars into research on emerging technologies that hold transformative potential for our clients. Blockchain will reinvent complex multi-party and contract-based business models, especially in banking and financial services.”

“This expands our expertise in helping clients identify the right projects and build out blockchain solutions to solve day-to-day business problems more effectively. We are delighted to be expanding the scope of our partnership with BTMU with this blockchain initiative,” Bridget van Kralingen added.

BTMU and IBM aims to manage agreements between them with the new system by the end of 2017.