LeoVegas heads to the Netherlands, upcoming ad ban in Ireland is worrying sports broadcasters, and cashout issues raised with the UKGC despite impressive 99% record – all in this week’s regulatory news in July 2023. (Photo by Jon Tyson on Unsplash.com )
If you are looking for a bitesize iGaming regulatory news piece covering multiple stories on the iGaming grapevine, then you are in the right place.
Today I cover three popular reports circulating the newswires in the online gambling news sphere. One of the comes from one of the largest online casino brands in the industry – none other than LeoVegas.
There’s also news covering concerns over the new gambling advertising watershed under the new Irish Gambling Licensing created in 2022. It could affect sports income as well as interrupt live sports streams affecting viewer quality.
And in the UK, the UK Gambling Commission is looking into growing complaints about withdrawals. Some gamblers are either having withdrawals refused or delayed. It is a matter raised under the new UK gambling white paper.
Looking for regulatory news? Help yourself to our recent news report covering casino regulatory news in the UK here. The news story covers the banning of advertising ‘Risk-Free Bets’, the Regulating the Game Conference in London, and Shai Tabibian, Senior VP at 888 is leaving.
LeoVegas Group Enters Netherlands
It is yet another milestone for LeoVegas, which is operating across the globe with a barrage of licensing certificates. The online casino and sportsbook platform is coming to the Netherlands after securing a Dutch Gaming Authority (NGA) licensing cert.
LeoVegas currently operates as a subsidiary under MGM Resorts International (NYSE: MGM) after a takeover in 2022 in a deal worth close to $ 604 million (£ 470m / € 543m). Since the company also became a software provider of sorts after purchasing game developer Push Gaming.
Currently, the new Netherlands deal means the company operates under the UK Gambling Commission, Malta Gaming Authority, Alcohol and Gambling Commission Ontario, Danish Gambling Authority, Swedish Gaming Authority (SGA) and a host of others.
LeoVegas MGA & UKGC Platform: Find out more about the LeoVegas platform, and its bonuses across New Zealand, Ireland, United Kingdom, and India via our LeoVegas Casino & Sportsbook test here.
Gambling Advertising Bans Under New Irish Licensing a Concern
The gambling advertising ban outlined in the drafted 2022 Gambling Regulation Bill Ireland is raising concerns across not only Ireland but in the UK too. In a bid to eradicate gambling ads similar to cigarette advertising back in the day, it seems major sports may feel the effect.
Ireland’s Department of Justice has already given the regime its support, but in horse racing and football such as lower league divisions in the UK, the Irish football league and other sports, the financial support from gambling ads is huge.
One of the issues that could arise is live sporting events may have blurred out parts of the games as broadcasters attempt to hide gambling ad logos in stadiums and on billboards. This could lessen the quality of people’s experience.
And it is not just a single body raising these concerns. The Irish Bookmakers Association (IBA), Sky Sports Racing and Racing TV, and Racecourse Media Group (RMG) have all raised concerns.
As a gambling entertainment journalist, these bans on gambling advertisements are now part the parcel of the industry. Companies can complain all they like, but governments and regulatory bodies never seem to budge on their stance against it. Australia and the UK in particular have taken a hard stance on gambling advertising too, and both countries have remained determined to enforce these bans.
Want to know more about the Irish Gambling authority? Government of Ireland Approves Regulatory Authority news report.
UKGC Takes Note of Withdrawal Complaints
The UKGC is one of the most supportive licensing authorities in the world when it comes to player protection. Its help department receives thousands of support issues every year. However, one problem appears to be plaguing the support team.
Currently, the number one complaint surrounds withdrawals. Due to strict AML laws, operators are sometimes unsure whether they can legally process withdrawals. Plus, due to changing rules covering the topic, not all support staff tasked with assessing the legitimacy of withdrawals have had the proper training. On top of this, they can often be left confused and refuse or delay withdrawals rather than approve them when unsure.
Impressive 99% of withdrawals are approved within 24 to 48 hours!
Although the UKGC is aware of the situation and working on a solution, it turns out that of all withdrawals requested in the UK, operators approve 99% of them within a 24-to-24-hour timeframe. When you consider there are 20 million gamblers online, that’s an impressive rate.
UK Casinos with Fast Withdrawals: Find the best online casino UK for withdrawals. All the casinos on the list process withdrawals within 0 to 48 hours and come with high maximum withdrawals ideal for high rollers and big winners.
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