The increased interest in casino games, self-isolation, as well as the launch of new gambling platforms, have made 2020 extremely productive for the gambling industry despite the crisis. The industry is managed differently in different countries, but the situation is quite dynamic and changes on a quarterly basis or so. So let’s dive into the world news of the gambling business.
On August 27, 2021, betting was legalized in Canada. Now, betting on individual sporting events has become legal there. For their part, market operators are already making statements that part of the proceeds they will receive will go to charitable activities. For example, Linda Cavanaugh, interim president and CEO of BCLC, said: “We are delighted to expand our offerings on PlayNow.com, the only gambling site in British Columbia that returns revenues to BCLC residents through support for provincial initiatives, such as health care, education, and community programs.”
By the way, the main reason for the legalization of betting was expert assessments of the losses of the Canadian budget from the functioning of illegal gambling establishments/operators. Thus, according to the calculations of specialists from the Canadian Gambling Association (CGA), Canadians annually spend around $ 10 billion on sports betting sites owned by organized crime. And another $ 4 billion is deposited on sites registered in offshore zones.
After the adoption of the C-218 law and receiving royal permission, it is expected that the key gambling and betting platforms will enter the Canadian market by the beginning of 2022. If you are already looking for a professional and trusted online casino, there’s no need to seek it yourself. You will find top lists on Casinoluck.ca – website with best online casinos reviews.
The lower house of the country’s parliament (the Chamber of Deputies) discussed and approved proposals on the legalization of gambling at a special commission. There have been discussions about this initiative for a long time. And not so long ago, the government supported it. However, in the end, President Jair Bolsonaro said that this year is definitely not time for that. But many still expect this to happen soon.
Part of the parliamentarians, which still advocate for the legalization and regulation of gambling in Brazil, gathered a working group and prepared a new document in support of the initiative. Everything is done in it to reduce criticism for the lack of checks, relations with criminal organizations, and the risks to public health due to gambling addiction.
The document also notes that the permission to start operating should be issued exclusively by a special regulatory body and not by the authorities at the local level. According to the authors of the new version of the legislative initiative, all this makes the regulation more stringent and controllable. At the moment, the bill has a 50 percent chance of success. The situation requires constant monitoring and a more focused approach. So it will not be surprising if more news regarding the legalization of the gambling business comes from Brazil by the end of the year.
Gambling industry revenues decreased by 1.2% in October compared to the same period last year. While casinos performed well, betting was in decline. The industry generated total revenue of € 243.9 million, with casinos accounting for € 148.8 million. Betting brought in € 117.9 million to the treasury. This is a 51.6% drop compared to October 2020. In relation to September 2021, a 37.1% drop was also recorded. Online betting has made only € 76.1 million in profit this year. However, industry experts predict that the situation will change very soon.
EGBA supported the implementation of joint anti-money laundering (AML) regulations across the EU. Back in July 2021, the European Commission began consultations on a package of legislative proposals to strengthen AML. In accordance with the proposals, one centralized body (the EU Anti-Money Laundering Authority) should appear. The new organization will deal with this problem on the territory of all countries that are members of the European Union.
New black and gray lists will emerge to identify countries with the highest money laundering risks. Also in the EU, a limit of 10 thousand euros will be set for cash payments, and the existing control methods will be extended to the crypto-assets sector.
The EGBA welcomed that gambling would be included in the scope of the new rules. The Association is also ready to support the proposed control options through the creation of the first pan-European guideline. They believe that now there is a lack of such a tool. The EGBA also noted that it wass essential that the roles of local authorities and the EU’s unified anti-money laundering authority be clearly delineated. This will help to avoid double reporting and unnecessary spending on administrative and compliance processes.
The inclusion of gambling in the legislative package also opens up the opportunity for the EGBA to offer the EU more assistance on issues such as combating money laundering. In some respects, the industry experience gained from working on gambling regulation may offer additional ways to improve overall anti-money laundering measures and rules in the EU.
The International Fair Betting Association (IBIA) has warned that friendly football matches that are not sponsored by any organization are targeted by criminal gangs. The University of Nicosia conducted a study that found suspicious activity in more than 250 friendlies between European clubs between 2016 and 2020. The study involved 700 players who were in Cyprus, Greece, and Malta, and more than a quarter of them (26.5%) said they took part in friendly matches that they found suspicious.
In the case of official matches, there are usually agreements between the organizers and the supplying companies. But the data is available to everyone absolutely free of charge. The lack of any oversight of such matches and the availability of markets on operator lines from Curacao or the Philippines leave a lot of room for match-fixing. IBIA has recommended that UEFA take seriously the regulation of friendly games for clubs in all 55 European football associations.
Cheating in official tournaments is strictly prohibited and is the responsibility for maintaining fair play lies with the sponsoring organization of the tournament. For example, UEFA has been investing a lot to do bet monitoring, thereby protecting the integrity of the Union and its members in order to save sports from match-fixing.
The IBIA report may result in increased collaboration between European football organizations and bet monitoring services to ensure fair play. Perhaps the recent plans by UEFA to increase the number of tournaments will lead to a decrease in the number of friendlies. However, if the situation does not improve, then it is quite possible to expect the introduction of a ban on accepting bets in friendly games.