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Italian Finance Minister Approves Betting Exchanges
Friday March 22,2013 : OPERATORS HOPEFUL ON ITALIAN ONLINE EXCHANGE BETTING
Finance Minister's approval is another step forward
Hopes that the Italian regulator AAMS will permit online betting exchange action in that dedicated market were boosted this week by the news that Italian finance minister Vittorio Grilli has indicated he has no problem with the concept.
According to Agipronews, on Thursday minister Grilli signed a ministerial decree regulating P2P or exchange betting, which AAMS will implement following a Court of Auditors process, SOGEI financial testing requirements and publication in the official government gazette.
Agipro reports that the betting exchange action will be confined to Italy, and could be available before the end of 2013.
The British betting exchange pioneer Betfair will be among early applicants, with Agipro quoting company exec Martin Cruddace as saying:
"There are still many steps to be completed, but the Italian customers can now look forward to access to an important betting product."
Other betting exchanges likely to be interested may include Betdaq, recently acquired by Ladbrokes
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