Forex brokers have been experiencing regulatory changes for almost the past 10 years. The first and most dramatic of the of these changes were in the US in 2008. The oversight agency for Forex in the US is the NFA (National Futures Association). At that time the NFA had made a decision to dramatically increase net capital requirements for Forex brokers. It was only a couple years prior when Forex brokers could operate with a capital position of $300,000. By the end of 2008 the net capital requirement for a Forex broker or RFED (Retail Foreign Exchange Dealer) was $20 million. The NFA had also instituted restrictions on order types including hedging. Result from this was movement of these brokers to various jurisdictions.
Many of the larger Forex brokers set up shop in the UK or Australia. These were two of the more established regulatory locations. Other brokers set up in places like Cyprus, Mauritius, or New Zealand. As more and more brokers were setting up in these locations the local regulators also felt the need to increase capital requirements and institute other regulations.
Most recently New Zealand was announced that it will start instituting these types of requirements. They have established that they will require a broker to have a capital position of NZ$1 million. They have also announced that they will require management and other members to assume responsibility for the company. It will be interesting to see the response from the numerous brokers that have established New Zealand as their home. For the brokers that will remain in New Zealand the net capital position will offer a sense of security for their clients. For other brokers that can’t fit the bill they may have to look at other offshore locations. As a Forex industry keeps growing expect to see you more and new regulations from these other jurisdictions.
April 14, 2014
April 10, 2014
FA wants total ban on football betting for players
The Football Association has proposed that from next season any player in league football and the top four tiers of the non-league system will be banned from betting, either directly or indirectly, on any football match or competition anywhere in the world.
The changes to FA Rules from the start of the 2014-15 season would also see a worldwide prohibition on betting on any other football-related matter, for example, the transfer of players, employment of managers or team selection. The passing of inside information to somebody that uses the information for betting remains prohibited.
Having received a unanimous recommendation by The FA Council on Wednesday and The Football Regulatory Authority in March, the Betting Rule changes would need to be agreed by FA shareholders at their AGM on 21 May before coming into force.
The proposal follows consultation with the Premier League, Football League, Professional Footballers’ Association, League Managers’ Association and Football Conference.
Currently, FA Rules state that no participant can bet on a match or competition in which they are involved that season, or which they can influence, or any other football-related matter concerning the league that they play in. They are also prohibited from using or passing inside information for betting. The proposed rule changes would see these prohibitions retained for Participants below Step 4 of the National League System.
Darren Bailey, The FA’s Director of Football Governance and Regulation, said: “The FA constantly evaluates its rules and regulations to ensure that they meet the needs of the modern game. The proposed betting rule adjustment to encompass all aspects of world football provides a simple and straightforward message to all participants on where the line is drawn.
“It is important to stress that the rules form only one part of the overall framework for the regulation of betting and maintaining the integrity of the English game. In addition to the monitoring of betting markets throughout the world, education remains a key part of our work.
“Building on previous education programmes, we will continue to communicate to all levels of the game not only the Rules on betting, but also the restrictions in place on the use of inside information and the reporting obligations on Participants. In doing so, we will further stress the collective responsibility that all those involved in football have in upholding the integrity of football in England and beyond.”
Established by The FA Council, The Football Regulatory Authority performs the regulatory, disciplinary and rule-making functions in relation to football played in England in accordance with the Laws of the Game. The FA Council is made up of representatives from across the game, including the Premier League, Football League, County FAs, affiliated leagues and associations, clubs, referees, supporters, inclusion bodies and independent members.
The extended ban has been pushed after numerous breaches of the current betting rules clearly in the hope that simplifying the rules with a blanket ban will get the message across to the sport’s participants. The latest to breach the rules was Tranmere Rovers manager Ronnie Moore, who has subsequently been sacked for his actions.
The changes to FA Rules from the start of the 2014-15 season would also see a worldwide prohibition on betting on any other football-related matter, for example, the transfer of players, employment of managers or team selection. The passing of inside information to somebody that uses the information for betting remains prohibited.
Having received a unanimous recommendation by The FA Council on Wednesday and The Football Regulatory Authority in March, the Betting Rule changes would need to be agreed by FA shareholders at their AGM on 21 May before coming into force.
The proposal follows consultation with the Premier League, Football League, Professional Footballers’ Association, League Managers’ Association and Football Conference.
Currently, FA Rules state that no participant can bet on a match or competition in which they are involved that season, or which they can influence, or any other football-related matter concerning the league that they play in. They are also prohibited from using or passing inside information for betting. The proposed rule changes would see these prohibitions retained for Participants below Step 4 of the National League System.
Darren Bailey, The FA’s Director of Football Governance and Regulation, said: “The FA constantly evaluates its rules and regulations to ensure that they meet the needs of the modern game. The proposed betting rule adjustment to encompass all aspects of world football provides a simple and straightforward message to all participants on where the line is drawn.
“It is important to stress that the rules form only one part of the overall framework for the regulation of betting and maintaining the integrity of the English game. In addition to the monitoring of betting markets throughout the world, education remains a key part of our work.
“Building on previous education programmes, we will continue to communicate to all levels of the game not only the Rules on betting, but also the restrictions in place on the use of inside information and the reporting obligations on Participants. In doing so, we will further stress the collective responsibility that all those involved in football have in upholding the integrity of football in England and beyond.”
Established by The FA Council, The Football Regulatory Authority performs the regulatory, disciplinary and rule-making functions in relation to football played in England in accordance with the Laws of the Game. The FA Council is made up of representatives from across the game, including the Premier League, Football League, County FAs, affiliated leagues and associations, clubs, referees, supporters, inclusion bodies and independent members.
The extended ban has been pushed after numerous breaches of the current betting rules clearly in the hope that simplifying the rules with a blanket ban will get the message across to the sport’s participants. The latest to breach the rules was Tranmere Rovers manager Ronnie Moore, who has subsequently been sacked for his actions.
April 07, 2014
William Hill announces technical migration of Australian brands into one platform
William Hill has announced the complete migration of its three acquired Australian brands - Centrebet, Tom Waterhouse and Sportingbet Australia. The integration will see all brands managed under a single platform, promoting unified technologies and products to its Australian customer base.
William Hill will maintain all three brands active, which counters previous industry speculation that the operator would be looking to condolidate its Australian brands into one.
2013 saw William Hill acquire all three brands in order to enter the Australian online sport betting market. The acquisition saw William Hill become the third biggest online gambling operator behind Paddy Power and Tabcorp. The combined acquisition contributed £86.7 million in net revenue and £12 million in profit for 2013 performance.
William Hill will re-launch Sportingbet.com.au with a new mobile friendly responsive site. The operator further announced that the re-launch would be supported by an ongoing Australian tv advertising campaign which would be promoted by former Australian international cricketer Shane Warne (former brand ambassador for 888 Poker).
William Hill will maintain all three brands active, which counters previous industry speculation that the operator would be looking to condolidate its Australian brands into one.
2013 saw William Hill acquire all three brands in order to enter the Australian online sport betting market. The acquisition saw William Hill become the third biggest online gambling operator behind Paddy Power and Tabcorp. The combined acquisition contributed £86.7 million in net revenue and £12 million in profit for 2013 performance.
William Hill will re-launch Sportingbet.com.au with a new mobile friendly responsive site. The operator further announced that the re-launch would be supported by an ongoing Australian tv advertising campaign which would be promoted by former Australian international cricketer Shane Warne (former brand ambassador for 888 Poker).
Betclic withdraw from Belgium, amid PPO investigation
Betclic senior management have chosen to withdraw the company’s operations from the Belgian igaming market as the Public Prosecution Office (PPO) charged the operator with alleged unlicensed igaming operations targeting Belgian igaming players.
Prior to the decision taken by senior management, the operator had suffered a confiscation of €60,000 by the Belgian Gaming Authorities, for servicing unlicensed igaming services to Belgium customers. Betclic were placed under the black list of igaming operators, who had been warned by regional authorities and restricted Belgian IP access to their igaming portals.
The PPO are set to investigate the operator, for illegal igaming operations, BetClic deny any knowledge of wrongdoing on their part. A company statement read “Betclic Everest Group expresses its total surprise concerning the information referring to criminal sanctions and fund blocking that the Group is said to face in Belgium,”
The PPO claim that the operator had been warned of servicing Belgian customers with unlicensed igaming services, furthermore they claim that the operator breached regional igaming laws by allowing payment process on Belgian credit cards. The PPO have further stated that it has proof from Belgian based financial institutions that the operator had processed these online payments.
If prosecuted members of the Betclic board could be held responsible by Belgian igaming authorities and could face prison sentences of six months to five years.
Prior to the decision taken by senior management, the operator had suffered a confiscation of €60,000 by the Belgian Gaming Authorities, for servicing unlicensed igaming services to Belgium customers. Betclic were placed under the black list of igaming operators, who had been warned by regional authorities and restricted Belgian IP access to their igaming portals.
The PPO are set to investigate the operator, for illegal igaming operations, BetClic deny any knowledge of wrongdoing on their part. A company statement read “Betclic Everest Group expresses its total surprise concerning the information referring to criminal sanctions and fund blocking that the Group is said to face in Belgium,”
The PPO claim that the operator had been warned of servicing Belgian customers with unlicensed igaming services, furthermore they claim that the operator breached regional igaming laws by allowing payment process on Belgian credit cards. The PPO have further stated that it has proof from Belgian based financial institutions that the operator had processed these online payments.
If prosecuted members of the Betclic board could be held responsible by Belgian igaming authorities and could face prison sentences of six months to five years.
Ladbrokes leaked document Controversy
Following the leaked Ladbrokes document that shows the countries second largest bookmaker made £1 billion in a month from the highly controversial Fixed Odds Betting Terminals (FOBTs), David Cameron the UK’s Prime Minister will announce stronger penalties for any bookmaker that fails to enforce maximum playing times and loses for gamblers on the machines.
The leaked internal memo from Ladbrokes shows that the new rules coming in would not affect bookmakers as 92% of customers playing FOBTs do not play longer than 30 minutes consecutively.
Even the alarm on players losing over £250 stopping them playing and alerting a member of staff would not work as The Ladbrokes analysis shows that the average loss per “60-minute or over” session of roulette is a little more than £93, well below the cap proposed.
The Ladbrokes memo which showed in April 2013 that gamblers had played their FOBTs 4.8 million times, staking £1bn, over a four-week period.
Over the last four years, annual player losses from the fixed odds betting terminals (FOBTs) have risen from £1.3billion to around £1.5billion.
And last year the gambling industry regulator warned that the machines expose ‘even normal leisure gamblers to potentially harmful rates of loss whether or not they would be classified as problem gamblers’.
The latest news on Ladbrokes is another blow for the struggling bookmaker whose Chief Executive is already under fire and has until this summer’s world cup to turn around the companies fortunes and try to catch up with William Hill in both its online and retail businesses.
The leaked internal memo from Ladbrokes shows that the new rules coming in would not affect bookmakers as 92% of customers playing FOBTs do not play longer than 30 minutes consecutively.
Even the alarm on players losing over £250 stopping them playing and alerting a member of staff would not work as The Ladbrokes analysis shows that the average loss per “60-minute or over” session of roulette is a little more than £93, well below the cap proposed.
The Ladbrokes memo which showed in April 2013 that gamblers had played their FOBTs 4.8 million times, staking £1bn, over a four-week period.
Over the last four years, annual player losses from the fixed odds betting terminals (FOBTs) have risen from £1.3billion to around £1.5billion.
And last year the gambling industry regulator warned that the machines expose ‘even normal leisure gamblers to potentially harmful rates of loss whether or not they would be classified as problem gamblers’.
The latest news on Ladbrokes is another blow for the struggling bookmaker whose Chief Executive is already under fire and has until this summer’s world cup to turn around the companies fortunes and try to catch up with William Hill in both its online and retail businesses.
English Football Facing Its Biggest Match Fixing Scandal
English football facing its biggest match fixing scandal as local police arrest a further seven footballers on suspicions of match fixing in the English football league.
Seven more footballers have been arrested in what is fast turning out to be the most controversial match fixing scandal in English footballing history.
Six players from Preston North End, and a solitary player from Barnsley, now take the official number of players arrested in connection with spot-fixing to 13, following the arrest of six players in the back end of 2013.
The National Crime Agency (NCA) told members of the UK tabloid press that the players were being interviewing by local police in connection with the case that made all of the headlines thanks to undercover reporters.
The Preston players are believed to be Captain John Welsh, Keith Keane, Bailey Wright, David Buchanan, Ben Davies and Graham Cummins, with Barnsley defender Stephen Dawson also taken in for questioning. Davies and Cummins are on loan at York City and Rochdale respectively meaning the scale of the cheating could be even further than just the fields involving Preston and Barnsley.
The tabloids also report that the previous six players have also been rearrested for further questioning into alleged bribery and money laundering matters.
The madness started when undercover reporters video taped the former Portsmouth star Sam Sodje admitting to getting deliberately sent off in return for a £70,000 bribe.
Sodje’s brothers Steve and Akpo who play for Tranmere, Blackburn striker DJ Campbell, Oldham winger Cristian Montano and Tranmere defender Ian Goodison have all been rearrested after the NCA stated ‘new evidence’ had surfaced in the proceedings.
Preston released a statement in reaction to the arrests.
“In response to media inquiries received, Preston North End Football Club can confirm that today, April 3 2014, the club has been contacted by the National Crime Agency in relation to a wide-ranging investigation into ‘spot fixing’ in football.
“There are no suggestions that any offences that might have occurred involved match-fixing.
“None of our employees have been charged with any offence at this time and until or unless this position changes we will be taking no further action nor making any further comment.
“All of our contracted employees are available for selection by the manager.”
The case continues.
Seven more footballers have been arrested in what is fast turning out to be the most controversial match fixing scandal in English footballing history.
Six players from Preston North End, and a solitary player from Barnsley, now take the official number of players arrested in connection with spot-fixing to 13, following the arrest of six players in the back end of 2013.
The National Crime Agency (NCA) told members of the UK tabloid press that the players were being interviewing by local police in connection with the case that made all of the headlines thanks to undercover reporters.
The Preston players are believed to be Captain John Welsh, Keith Keane, Bailey Wright, David Buchanan, Ben Davies and Graham Cummins, with Barnsley defender Stephen Dawson also taken in for questioning. Davies and Cummins are on loan at York City and Rochdale respectively meaning the scale of the cheating could be even further than just the fields involving Preston and Barnsley.
The tabloids also report that the previous six players have also been rearrested for further questioning into alleged bribery and money laundering matters.
The madness started when undercover reporters video taped the former Portsmouth star Sam Sodje admitting to getting deliberately sent off in return for a £70,000 bribe.
Sodje’s brothers Steve and Akpo who play for Tranmere, Blackburn striker DJ Campbell, Oldham winger Cristian Montano and Tranmere defender Ian Goodison have all been rearrested after the NCA stated ‘new evidence’ had surfaced in the proceedings.
Preston released a statement in reaction to the arrests.
“In response to media inquiries received, Preston North End Football Club can confirm that today, April 3 2014, the club has been contacted by the National Crime Agency in relation to a wide-ranging investigation into ‘spot fixing’ in football.
“There are no suggestions that any offences that might have occurred involved match-fixing.
“None of our employees have been charged with any offence at this time and until or unless this position changes we will be taking no further action nor making any further comment.
“All of our contracted employees are available for selection by the manager.”
The case continues.
April 03, 2014
Can increasing odds save UK bookmakers?
March was a pretty important month for many online and offline UK gambling companies. The budget provided benefits to bingo operators while bookmakers are preparing to take a hit on their B2 Gaming Machines.
Can increasing odds save UK bookmakers?In the online sector the progress made in introducing the Point of Consumption Tax meant that the landscape is set to drastically change. Regardless of the vertical, having to pay a 15% tax on UK revenue will hit every operator hard.
Global Betting and Gaming Consultant’s chief executive Warwick Bartlett wrote an interesting piece on the implications of this new tax for operators and he estimated that had the tax have been implemented recently that both Ladbrokes and Coral would have failed to make a profit.
Unfortunately for Ladbrokes and Coral this look back may prove to be a good indication of their future. Given that just under 45% of Ladbrokes’ digital revenue came from sportsbook in 2013 and a similar amount at Gala Coral, it’s going to be important for companies to make their digital sports betting operations profitable.
Unlike casino, poker and bingo where percentages can be tweaked it seems like a tough task to figure out where extra profits are going to come from for bookmakers. The obvious answer would be to change the odds, but given the potential pitfalls of that strategy, is it even worth considering?
Speaking last week about the effect that the point of consumption tax will have for UK-facing operators, Deloitte’s betting and gaming lead Simon Oaten explained that won’t be easy as it will be online bookmakers who have the toughest task to survive.
He said: “It’s going to be difficult for operators in the sports betting environment to adjust price too much because there are operators that already pay this level of tax and are offering similar prices online.”
In a sector where value is a primary factor in the acquisition of many potential customers, being able to offer improved odds would be a simple move to increase profit. Unfortunately that clearly isn’t going to be a viable option.
GBGC’s Bartlett voiced a similar opinion, but applied it to all sectors, by saying: “I have completely discounted the idea of building bigger margin into the offer to the customers. The Internet is ultra competitive, it will not happen. Well, not in the interim period anyway.”
It could be argued that given the uniformity of payout percentages across casinos due to the use of a small number of software providers that this isn’t necessarily going to be the case in this sector. However bookmakers are free to set their own odds.
In order for a similar situation to work in sports betting all operators would need to agree to increase their prices and that’s far from feasible.
As alluded to above it’s an obvious conclusion to say that increasing the odds simply isn’t a viable option. However, speaking last week Deloitte’s Simon Oaten raised an interesting point regarding two of the most rapidly growing areas of sports betting at the moment.
He said: “It’s not all doom and gloom for sports betting companies. In mobile and bet in-play activity there is less price sensitivity so there will be opportunities there for margin to be increased to account for point of consumption tax.”
Focusing on in-play, the speed at which bets are placed means that this statement should ring true. Once customers have an account they have the ability to place several bets within a small time period and the ninety-minute nature of football – the most popular sport for in-play betting – encourages this.
Gambling Data estimated that in-play betting was the main driver between the 50% growth in online sports betting between 2009 and 2011 and while that growth rate may have slowed since, in-play continues to be a huge part of the vertical.
When it comes to mobile, bets aren’t necessarily placed in such rapid succession but the size of this market has the potential to be simply staggering. At the end of last year Juniper Research predicted that more than 164 million will be gambling on their mobile phones in 2018.
While the majority of this growth was expected to come from the US market you can bet that the UK market won’t exactly be shrinking. Given the smaller screen size users are less inclined to ‘shop around’ meaning that the operators who are able to acquire customers are likely to see a higher level of loyalty than may have previously been experienced.
On the face of it, implementing higher odds seems like a sure-fire way to lose customers to your competitors. However the lower importance of odds on in-play and mobile betting coupled with the growing importance of these two areas within the industry mean that it may not be quite as outrageous as first thought.
Can increasing odds save UK bookmakers?In the online sector the progress made in introducing the Point of Consumption Tax meant that the landscape is set to drastically change. Regardless of the vertical, having to pay a 15% tax on UK revenue will hit every operator hard.
Global Betting and Gaming Consultant’s chief executive Warwick Bartlett wrote an interesting piece on the implications of this new tax for operators and he estimated that had the tax have been implemented recently that both Ladbrokes and Coral would have failed to make a profit.
Unfortunately for Ladbrokes and Coral this look back may prove to be a good indication of their future. Given that just under 45% of Ladbrokes’ digital revenue came from sportsbook in 2013 and a similar amount at Gala Coral, it’s going to be important for companies to make their digital sports betting operations profitable.
Unlike casino, poker and bingo where percentages can be tweaked it seems like a tough task to figure out where extra profits are going to come from for bookmakers. The obvious answer would be to change the odds, but given the potential pitfalls of that strategy, is it even worth considering?
Speaking last week about the effect that the point of consumption tax will have for UK-facing operators, Deloitte’s betting and gaming lead Simon Oaten explained that won’t be easy as it will be online bookmakers who have the toughest task to survive.
He said: “It’s going to be difficult for operators in the sports betting environment to adjust price too much because there are operators that already pay this level of tax and are offering similar prices online.”
In a sector where value is a primary factor in the acquisition of many potential customers, being able to offer improved odds would be a simple move to increase profit. Unfortunately that clearly isn’t going to be a viable option.
GBGC’s Bartlett voiced a similar opinion, but applied it to all sectors, by saying: “I have completely discounted the idea of building bigger margin into the offer to the customers. The Internet is ultra competitive, it will not happen. Well, not in the interim period anyway.”
It could be argued that given the uniformity of payout percentages across casinos due to the use of a small number of software providers that this isn’t necessarily going to be the case in this sector. However bookmakers are free to set their own odds.
In order for a similar situation to work in sports betting all operators would need to agree to increase their prices and that’s far from feasible.
As alluded to above it’s an obvious conclusion to say that increasing the odds simply isn’t a viable option. However, speaking last week Deloitte’s Simon Oaten raised an interesting point regarding two of the most rapidly growing areas of sports betting at the moment.
He said: “It’s not all doom and gloom for sports betting companies. In mobile and bet in-play activity there is less price sensitivity so there will be opportunities there for margin to be increased to account for point of consumption tax.”
Focusing on in-play, the speed at which bets are placed means that this statement should ring true. Once customers have an account they have the ability to place several bets within a small time period and the ninety-minute nature of football – the most popular sport for in-play betting – encourages this.
Gambling Data estimated that in-play betting was the main driver between the 50% growth in online sports betting between 2009 and 2011 and while that growth rate may have slowed since, in-play continues to be a huge part of the vertical.
When it comes to mobile, bets aren’t necessarily placed in such rapid succession but the size of this market has the potential to be simply staggering. At the end of last year Juniper Research predicted that more than 164 million will be gambling on their mobile phones in 2018.
While the majority of this growth was expected to come from the US market you can bet that the UK market won’t exactly be shrinking. Given the smaller screen size users are less inclined to ‘shop around’ meaning that the operators who are able to acquire customers are likely to see a higher level of loyalty than may have previously been experienced.
On the face of it, implementing higher odds seems like a sure-fire way to lose customers to your competitors. However the lower importance of odds on in-play and mobile betting coupled with the growing importance of these two areas within the industry mean that it may not be quite as outrageous as first thought.
Spain to allow gambling TV advertising
The Spanish gambling regulatory body is set to establish new provisions and laws that will allow the promotion and coverage of igaming verticals to be broadcast on Spanish national television.
Although online gambling is permitted, through granted national license the Spanish Government and Advertising Standards do not permit the broadcasting of television adverts promoting igaming verticals.
The new incentives to allow further promotion of licensed will be drafted by the Spanish advertising watchdog – Autocontrol. It is widely thought that TV advertisements promoting gambling will be placed during the hours of 22:00 – 06:00, in order to protect minors viewing the content. Autocontrol have taken on board advertising policies implemented by the UK advertising standards, such as the introduction of a watershed in order to limit promotion of gambling to the general public.
Igaming operators, who have decided to enter the Spanish regulated market, have welcomed the decision to allow them access to further marketing channels. The Spanish igaming market has proved to be a tough undertaking for several operators who have been burdened by heavy tax levy and restrictions of higher grossing gaming games such as casino slots.
Autocontrol have yet to give a further breakdown on how the advertising regulations and policy will be implemented, and which igaming verticals will be allowed to be advertised to the general public through televised mediums.
Although online gambling is permitted, through granted national license the Spanish Government and Advertising Standards do not permit the broadcasting of television adverts promoting igaming verticals.
The new incentives to allow further promotion of licensed will be drafted by the Spanish advertising watchdog – Autocontrol. It is widely thought that TV advertisements promoting gambling will be placed during the hours of 22:00 – 06:00, in order to protect minors viewing the content. Autocontrol have taken on board advertising policies implemented by the UK advertising standards, such as the introduction of a watershed in order to limit promotion of gambling to the general public.
Igaming operators, who have decided to enter the Spanish regulated market, have welcomed the decision to allow them access to further marketing channels. The Spanish igaming market has proved to be a tough undertaking for several operators who have been burdened by heavy tax levy and restrictions of higher grossing gaming games such as casino slots.
Autocontrol have yet to give a further breakdown on how the advertising regulations and policy will be implemented, and which igaming verticals will be allowed to be advertised to the general public through televised mediums.
Digibet asks the EC to clarify German igaming laws
German sports betting market focused operator Digibet has asked the European Court of Justice to bring clarity to the German sports betting licensing procedure. The operator has brought fourth a case concerning German licensing procedure, stating it to be cumbersome and lacking in transparency, which has in turn affected its business practices.
Digibet are concern by the slow progress, of issuing licenses for the region and the inability of the government to set corporate guidelines and best practice for the governance of the sector.
German ministers have indicated that the first batch of licenses will be set for Q4 2014, it is unknown which operators will be granted permission to market igaming services in the region. Ministers have also not given specific details with regards to implementations of new laws which may affect the sector.
Digibet hope that the European Court of Justice may add pressure to the German policy makers on the issuing of igaming policy. The Q4 target has been thought of as being optimistic given the circumstances.
German focused operators are hoping for transparency in 2014, given the sporting significance of 2014, operators in the region will be hoping for less stringent policies that have affected igaming markets in other legislated European Jurisdictions
Digibet are concern by the slow progress, of issuing licenses for the region and the inability of the government to set corporate guidelines and best practice for the governance of the sector.
German ministers have indicated that the first batch of licenses will be set for Q4 2014, it is unknown which operators will be granted permission to market igaming services in the region. Ministers have also not given specific details with regards to implementations of new laws which may affect the sector.
Digibet hope that the European Court of Justice may add pressure to the German policy makers on the issuing of igaming policy. The Q4 target has been thought of as being optimistic given the circumstances.
German focused operators are hoping for transparency in 2014, given the sporting significance of 2014, operators in the region will be hoping for less stringent policies that have affected igaming markets in other legislated European Jurisdictions
Russia explores Crimean gaming zone options
Russian officials are examining proposals to create a gambling zone in Crimea, the Black Sea peninsula annexed from Ukraine, according to sources quoted in Bloomsberg. Officials reportedly discussed the option with Deputy Prime Minister Dmitry Kozak, while Russia’s ministries of economy, finance and regional development have been given an April 15 deadline to present a plan for the gambling project with spending and revenue estimates. With the running a fiscal deficit of around $1.5bn this year, Russia is said to be exploring ways in which to make Crimea less reliant on the state budget.
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