Swedish sports betting operators can relax a little, as proposed emergency restrictions are revised to exempt sports betting from deposit limits. 

As we’ve previously reported, the proposed emergency restrictions on gambling in the country had included deposit limits of SEK 5,000, plus other measures, for all gambling for the duration of the COVID-19 crisis.

However, social security minister Ardalan Shekarabi, a leading proponent of draconian restrictions, has now presented adjustments to the measures, which would exempt horse racing and sports betting from the deposit limits.

Although it’s obviously good news for all sports betting operators in the country, BOS, the online gambling trade association, has said it thinks the change of heart has little to do with consumer protection, and is instead “to provide benefits to gambling companies that it [the government] is closely connected to, such as horse betting company ATG, with a majority of its board members appointed by the government.”

AYO.NEWS says:

It really does seem like licensed gambling operators have lost all trust in Swedish politicians. And, as we’ve previously noted, as long as ideologically driven anti-gambling politicians like Shekarabi hold sway, things will only get worse. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Italy is set to introduce a new emergency “turnover tax” on betting and virtual sports wagers. 

Last week the Italian parliament approved the new “temporary” 0.5% turnover tax across all betting verticals, including online, retail and virtual sports. It is set to apply until 31 December 2021. 

The new tax is part of the “Revival Decree,” which includes a raft of measures aimed at raising funds to support the post-COVID-19 recovery of the Italian economy and society. The tax will also enable the establishment of a “sports relief fund,” which aims to raise €90m by 2021. 

During March and April, the Italian sports betting industry saw revenues crash a record 72%, and estimates suggest it may take a year or more for it to recover to pre-COVID-19 levels.

Understandably, the new tax has been met with disbelief by many, who question the logic of increasing the tax burden on a sector that has been so badly hit by the crisis, and leading to the country becoming one of the highest-taxed regulated sports betting markets in Europe.

Italian sports betting operators already pay GGR betting duties of 20% for retail, 22% for virtual games, and 24% for online betting.

Though operators will be dismayed at the new tax, it could have been worse, as initial drafts of the legislation called for a 0.75% turnover tax. 

AYO.NEWS says:

The Italian government is hardly known for sound economic decisions, but this really does take things to a new level of absurdity – increasing the tax burden on one of the sectors COVID-19 hit hardest. 

Staying with Italian sports betting, don’t miss “Southern Change: Shaping Italy’s Online Betting Market.”

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Things may be about to get a little easier for crypto firms in the Ukraine, after the publication of a new draft bill clarifying the legal status of virtual assets. 

After four years of contemplation, last week the Ministry of Digital Transformation of Ukraine, published the new draft bill “On Virtual Assets”, which provides clarification on the legal status of cryptocurrencies, and rules regarding their circulation and issuance. 

Critically, if passed, the bill should allow Ukrainian crypto companies to open local bank accounts – something cryptocurrency exchanges in the country are still unable to do.

However, despite the obvious benefits to the industry, some serious concerns have been raised. One in particular is quite disturbing – the possibility that the law would render all crypto wallets in the country illegal unless they are registered with the Ministry.  

It seems the Ministry drafted the bill in response to last year’s announcement by the Financial Action Task Force (FATF) that it would be adopting AML rules for cryptocurrencies by June 2020. The Ministry has invited feedback from the crypto community, with the bill open for discussion until 5 June 2020. 

As we reported in January, the Ukrainian authorities have already started monitoring all cryptocurrency transactions exceeding 30,000 Ukrainian hryvnia (UAH) – approximately €1,100. 

AYO.NEWS says:

As digital assets mature into a fundamental part of the global economy, we are witnessing the irreconcilable nature of true privacy and anti-money laundering regulations. No matter what proponents of regulation say, by definition you simply can’t have true privacy and effective AML controls. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

The Norwegian Parliament (Stortinget) has passed legislation designed to prevent offshore gambling operators from advertising to Norwegians via the internet and satellite television.

Power has now been granted to the Norwegian Media Authority (Medietilsynet) to order internet service providers and media companies to prevent access to illegal marketing. Earlier this month Parliament also granted the authority powers to order domestic television channels to block adverts from offshore operators. 

Though Norsk Tipping has a monopoly on legal gambling in Norway, and other operators were already prohibited from advertising in the country, offshore companies have long been getting around the ban by advertising online and satellite television. 

Commenting on the news Minister of Culture and Gender Equality, Abid Q. Raja, said:

“This [amendment] will reduce the scope of gambling advertising, and may in turn help reduce the number of problem gamblers.

“[Previously] we have not had the necessary tools to enforce the advertising ban on foreign operators. But with this provision, the Media Authority is empowered to impose a duty on internet owners and distributors to prevent access to advertising for illegal gambling.”

AYO.NEWS says:

Together with the unlicensed operator payment ban, which took effect on 1 January, these new advertising controls will make life much harder for offshore operators looking to target the small but lucrative Norwegian market. 

With the regulated Swedish market turning into something of a nightmare for operators, thanks to incessant overregulation and political meddling, Denmark clamping down hard on unlicensed operators, and Norway now effectively off-limits, the once golden Nordic region is rapidly losing its shine for many operators. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

The International Betting Integrity Association (IBIA) has called for all parties in the supply chain of sports event data to adhere to global best practice standards. 

The IBIA says it believes this is the most effective approach to protect the integrity of sport, its data, betting markets generated by that data, and consumers using the products. 

Explaining the call CEO of IBIA, Khalid Ali, said:

“Upholding the reliability and credibility of sporting event data is of paramount importance for my members and the challenges posed by the pandemic have further highlighted the necessity for robust data chains. There is a clear benefit for everyone involved in the data supply chain in ensuring that such data is a product of high levels of accuracy and transparency.

“IBIA and its members have been considering this issue internally for some time and would like to go a step further and have a proper industry-wide debate. To that end, IBIA is asking all stakeholders, notably data providers, to proactively engage with the association and its members to develop and implement agreed best practice standards around the sale, collation, and distribution of sports data for betting.”

The IBIA is “run by operators for operators” and aims to protect its members from corruption through collective action. It runs a monitoring and alert platform that detects and reports suspicious activity on it’s members betting markets. 

With many information sharing partnerships in place with leading sports and gambling regulators, the association represents the sector at high-level policy discussion forums including the IOC, UN, Council of Europe, and European Commission. 

AYO.NEWS says:

With so many sports data providers, supplying an-ever growing volume of data, the importance of industry-wide standards and best practice is becoming pressing, so it’s good to see the IBIA is pushing for progress. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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Germany has submitted a revised framework for its fourth edition of the “State Treaty on Gambling” to the European Union. 

Much to the frustration of gambling operators the treaty, which has been subject to numerous revisions, still has not been ratified by Germany’s sixteen federal states, with regional politicians still debating it at the Bundesrat federal council. 

Thirteen states must ratify the treaty by 31 March 2021 in order for the new legislation to be passed into law. If lawmakers do manage to pass the treaty, it will establish a legislative framework for gambling until 31 December 2028. After that, individual states will be able to opt-out or make revisions. 

As we previously reported, the proposed legislation contains harsh restrictions for slots and live betting, in addition to deposit limits and sweeping advertising restrictions. 

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