Apr28
Insightful Report on Updates in Gambling Industry in August 2023
August 25, 2023 Aleksandra Zolotic
Has the number of US states launching retail or online sports betting increased? Did any of the countries present a new set of measures for improved player protection while gambling online?
August may not have been one of the busiest months gambling regulations-wise, but it was still marked with some notable changes. Exploring a bit, our team compiled a short yet insightful report on the most important changes which marked the eighth month of the year.
Key Gambling Regulations in the United States
Arizona: Companies interested in receiving one of three available licenses (one for tribal sports betting and two for professional sports teams) are welcome to submit the applications, as the local Department of Gaming started accepting requests.
Kansas: As far as the approval from the Department of Interior defines it, Prairie Band Potawatomi Nation tribes are permitted to offer retail and online sports betting on, but not beyond the reservation boundaries. This license is valid for the said tribes only, whereas others would have to sign compact amendments if interested in acquiring licenses to operate.
sports betting in the state to the Attorney General for approval. If greenlighted, the proposal could enable the state to launch the market by the end of this year.
Newest Updates from the Gambling Industry in Asia
India: New tax of 28% on the gambling turnover on casinos, horserace betting, and online gaming will become effective starting October 2023. The decision was confirmed by the Goods and Services Tax Council.
Philippines: The local regulator PAGCOR plans to perform a revision of offshore gaming licenses. Following the re-evaluation process, all companies that have been involved in the illegal business as well as those who’ve run businesses outside the verticals they are certified for will have the license revoked. Also, the regulator intends to establish an online platform in the first quarter of 2024.
Regulatory Changes from the Rest of the World
Australia: The State of Victoria presented a new set of reforms for gaming machines, which aim to bring more responsibility while gambling online. As suggested, the machines which are located outside the casinos should remain shut down between 04:00 and 10:00. All machines should include mandatory pre-commitment schemes and a spin rate of three seconds per game. Also, the minimum deposit limits should be decreased from AUD 1,000 to AUD 100.
Brazil: The country is one step closer to fully introducing sports betting, as President Luiz Inacio Lula da Silva signed the provisional measure that authorizes the said activity into law. Sports betting would be taxed at a rate of 18% of GGR. Players would have to declare and pay 30% income tax on their winnings, except in cases when their income equals to or is below BRL2,112. The bill also suggests the National Secretariat for Games and Betting (SNJA) should be established as a regulator and supervisor.
Senator Angelo Coronel made some amendments to the bill, proposing that it should encom not only sports betting halls but bingo halls, casinos, and “the animal game”, illegal street lottery. The law’s destiny will be known within 120 days, which is a timeframe for the National Congress to either block or approve it.
Source:
H2 Gambling Capital, August 2023
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Though PAGCOR’s reforms may seem rigorous for casinos, player protection must remain a top priority, which means that any operator involved in shady business should have the license canceled.