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Practical requirements a feature of new approach to online gambling
Since agreeing with the European Commission to liberalise its gambling markets , France is making steady progress in drafting proposed regulatory requirements for submission to the European Commission, local media reported this week.
Apparently a major contributor to the process has been the French National Crime Commission headed by Alain Bauer, which has helped the drafters with guidelines that include the creation of a suitably staffed and empowered regulatory and enforcement body with access to licensee gaming servers to facilititate monitoring and professional auditing.
Licensees will be required to provide information on demand to regulators, and precautions against "insider trading" will be incorporated in the requirements.
It is understood that another requirement before experienced licensees will be accepted will be a documented and confirmed track record of at least seven years as a corporate entity, and that full and complete disclosure on management, investors and shareholders will be mandatory. Owners and operational management will also be subjected to stringent background checks.
Following what are believed to be similar requirements being framed by the South African regulators, players will have to pre-register with official personal and banking identification, and will only be able to play after providing a personal identification number. Strict anti-underage or problem gambling access will be a priority.
France has undertaken to work with the European Commission in framing and introducing the regulations next year.
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Gambling News :
Interwetten 2016 Earnings Results -
Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform
EU Online Gambling Tax Harmoney Dead -
Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.
Jack Lam Facing Big Fines in the Philippines -
It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.
PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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