Mid-March Regulatory Update – Fines, Licenses, and More (2074)

Find all the hot regulatory topics in our mid-March regulatory update. We have new licensing news, more stories regarding fines, and more! (Image courtesy of Sasun Bughdaryan at unsplash.com)

There have been a lot of regulatory-related stories hitting the news vines recently. Fines have been issued left, right, and centre, new licenses earned, and ongoing rumblings about potential new restrictions for UK gamblers.

Here, we clear up some of the most prominent stories, including LeoVegas earning a German license, Bet365 becoming the latest to face the wrath of the KSA, and a new study warning that increased UK gambling restrictions could flame the black market fire.

UK: BGC Study Reveals 80% of UK Bettors Believe iGaming Restrictions will Fuel Black Market

According to a recent study commissioned by the Betting and Gaming Council in the United Kingdom, 4 out of 5 UK gamblers believe that further gambling restrictions will push more into unregulated black market gambling platforms.

The BGC commissioned YouGov to carry out the study and once the results were in; it revealed that 79% of UK bettors felt that increasing already strict online gambling regulations would just lead to more players moving to black market online gambling sites. Furthermore, 70% claimed they would consider finding a different site if they were required to share private financial documents before betting.

This new study comes just before the Government is expected to publish its White Paper that details any new reforms coming to the betting and gaming industry.

The Betting and Gaming Council has consistently expressed concern over the possibility of an introduction of affordability checks. These would require gamblers to ‘prove’ that they have enough money to bet. The BGC feels that this is a surefire way to drive people towards unregulated sites on the gambling black market. The council is of the opinion that players forced to provide financial paperwork will just refuse and go elsewhere.

Another study commissioned by the BGC showed that up to 460,000 UK punters now use black market gambling sites. That is more than double the number from a couple of years back. In December 2022, the study claims over 250,000 used unregulated sites, which is an increase from 80,000 during the same month in 2021.

Whatever your stance on the potential restrictions coming from the UK government’s White Paper, using unregulated sites is not the answer. You’re taking a huge risk using platforms without any regulatory protection. Always use our reputable online casinos portal to find trustworthy platforms.

New Licenses: LeoVegas, Play’n Go, and More Enter New iGaming Markets

In other news, a number of iGaming brands have picked up new licensing that allows them to operate within new iGaming markets. The two biggest stories are below while you will find a list of other newly-licensend brands in the box accompanying this section.

LeoVegas Group Secures License to Expand Operations in Germany

The LeoVegas Group, a highly successful corporation in the iGaming industry, has received a license to operate throughout Germany, allowing them to further expand their business. The German Federal States’ Joint Gambling Authority granted the license to the LeoVegas Group and its affiliated brands, including GoGo Casino, LeoVegas, and Royal Panda, enabling them to launch their services across all sixteen states of the country.

This license authorises the group to provide its top-quality online casinos, which offer a vast range of video slots, live casino games, and sports betting. With Germany being one of Europe’s largest iGaming markets, this is a significant achievement for the group, which already operates in nine crucial iGaming markets worldwide.

Play’n GO Secures Connecticut License

The prominent iGaming developer, Play’n Go recently announced that it now has the licensing to enter its fourth iGaming market in the United States after obtaining regulatory approval in Connecticut. This adds to the suppliers existing licenses currently held in West Virginia, New Jersey, and Michigan. It also becomes the 26th regulated market Play’n Go operates in across the globe.

LeoVegas and Play’n Go are both prominent iGaming brands that consistently deliver high-quality products. As you will see in our LeoVegas Casino review, you can enjoy what they both have to offer at the same time!

Other Notable iGaming Licenses Issued Recently

Lady Luck Receives MGA License
  • Lady Luck Games receives a Malta Gaming Authority License
  • 7777 Gaming is now licensed to operate in Romania
  • Betsson is granted operator and supplier licenses in Ontario, Canada
  • BoldPlay is issued a Romanian ONJN License
Fines: Bet365 the Latest to Fall Foul of the Dutch Regulatory Authority

The de Kansspelautoriteit (KSA) Dutch regulatory body has flexed its newly-formed muscles once again, this time issuing a €400,000 fine to Bet365. Hillside New Media, the operator of the globally recognised iGaming brand received the fine after the KSA discovered the company had broken rules regarding targeting gambling-related adverts to young adults.

This stems from the KSA receiving information in January 2022, that an 18-year old had received a handful of marketing advertisements from Bet365. Some of those emails provided details about bonuses offered on the platform.

The new Dutch regulations prohibit operators from marketing their products and services to anyone in the 18 to 24 age bracket. The KSA then launched an investigation that revealed this was not an isolated case. A number of other young adults had received similar emails. At that point, the KSA decided that Bet365 had breached rules set out by the Dutch Gambling Act.

Other Regulatory Fines Issued Recently

  • Casino Malta: Receives €233,834 fines for AML failures
  • Flutter Entertainment: Settles bribery allegations via $4 million SEC settlement
  • Ladbrokes Australia: Issued an AU$78,540 fine by the Northern Territory Racing Commission for a due diligence failure

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