Smarkets (Malta) Limited Faces £630,000 Regulatory Fine, Warning and Additional Licence Condition Due to AML and Social Responsibility Failure

Smarkets (Malta) Limited Faces £630,000 Regulatory Fine, Warning and Additional Licence Condition Due to AML and Social Responsibility Failure

Today, the UK Gambling Commission (UKGC) announced that an online gambling company will have to pay a monetary fine of £630,000 after an investigation held by the regulator unravelled a series of anti-money laundering and social responsibility failures. The UKGC revealed that Smarkets (Malta) Limited is set to pay the aforementioned 6-figure sum because of the failures, as a result of which customers have been allowed to gamble without proper source-of-income checks. The online gambling operator also failed to identify and interact with customers who were exposed to risk of…

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EPIC Risk Management Unveils New Customer Interaction Masterclass in Line with the UKGC Requirements

EPIC Risk Management Unveils New Customer Interaction Masterclass in Line with the UKGC Requirements

EPIC Risk Management has revealed some plans to update its Interactions Masterclass in order to make sure that gambling operators that take the course are aware of the new requirements that the UK Gambling Commission (UKGC) is expected to deploy on September 12th, 2022. In a press release published earlier this week, the company informed that the move is being taken as a preventative measure. The UK gambling regulatory body is set to roll out a total of 14 new requirements, so EPIC Risk Management is willing to make sure…

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Irish Lawmakers Face Criticism for Granting Companies with Illegal Gambling and Sports Betting Licences

Irish Lawmakers Face Criticism for Granting Companies with Illegal Gambling and Sports Betting Licences

Recently, some Irish lawmakers raised a red flag that online casino and slot operators in the country are granted operating permits that practically allow them to legally offer their services. However, there is one major problem, because some of these companies are not entitled to such licences. For the time being, gaming licences are issued by the revenue department of the Irish Government, provided that the operator’s services fall within the legal scope of the country’s gambling laws. In this case, this would mean that online sports betting is allowed…

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Proxous Receives Formal ACMA Warning over Supplying Gaming Software to Illegal Online Casinos Facing Australian Gamblers

Proxous Receives Formal ACMA Warning over Supplying Gaming Software to Illegal Online Casinos Facing Australian Gamblers

The beginning of the week saw the Australian Communications and Media Authority (ACMA) issue a formal warning to the software supplier Proxous Advanced Solutions Limited after it found that the company provided gaming software to 13 online casino operators that have been offering their services illegally to local gamblers. As revealed by the Australian regulatory body, the 13 illegal online casinos have used the Realtime Gaming-branded (RTG) software products of Proxous. According to the ACMA, the online gaming software solutions supplier knowingly sub-licensed these software products to the aforementioned casino…

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Crown Resorts Finally Opens the Doors of Its Barangaroo Casino in Sydney

Crown Resorts Finally Opens the Doors of Its Barangaroo Casino in Sydney

The Barangaroo casino of Crown Resorts has opened its doors for the first time earlier today but the gambling company expects its VIP-facing gambling facility to become fully operational by October 2022. The opening of the second casino operation in Sydney comes almost 2 years after the limited opening of Crown Resorts’ Barangaroo resort, as well as a decade after billionaire James Packer rolled out his campaign aimed at establishing a waterfront gambling resort aimed primarily at attracting affluent Chinese gamblers. Simon McGrath, the chief executive officer of Crown Barangaroo,…

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Gambling Companies Shoot Up Their Spending on Gambling Advertising during UK Covid-19 Lockdown

Gambling Companies Shoot Up Their Spending on Gambling Advertising during UK Covid-19 Lockdown

Two university studies on gambling advertising spending cited data that operators increased their expenditures on advertising by almost 50% during the winter Covid-19 lockdowns although they were aware of customers’ anxiety. According to separate studies held by the Universities of Glasgow and Stirling, the amount spent on gambling advertising reached a new high in 2021. The Daily Mail even reported that the figures exceeded the levels of gambling advertising spending surpassing the pre-coronavirus pandemic levels. Gambling operators still kept their promise to reduce their investments in advertising during the first…

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UKGC Imposes £1.32-Million Fine on Online Gambling Company LeoVegas for AML and Social Responsibility Failures

UKGC Imposes £1.32-Million Fine on Online Gambling Company LeoVegas for AML and Social Responsibility Failures

The gambling company LeoVegas faces a monetary penalty worth £1.32 million after the UK gambling regulator made revelations of the operator’s anti-money laundering and social responsibility failures. As revealed by the UK Gambling Commission (UKGC), LeoVegas, which currently operates a number of British-facing online gambling platforms, including leovegas.com, betuk.com, pinkcasino.co.uk, 21.co.uk, and slotboss.co.uk, will also face an official warning. The gambling company will have to undergo an audit to make sure it is efficiently implementing its social responsibility and anti-money laundering policies, controls, and procedures. The Director of Enforcement and…

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ASA Suspends Coral’s Gambling Ad for Being Socially Irresponsible

ASA Suspends Coral’s Gambling Ad for Being Socially Irresponsible

The Advertising Standards Authority (ASA) has banned an irresponsible ad of the local sports betting brand Coral over potential risks it could negatively affect problem gamblers. Two complainants challenged a TV ad for the British bookmaker Coral seen in March 2022, which featured stylised footage of a horse race while some spectators were waiting for the outcome of the race, cheering. According to the complainants, the advert breached the country’s advertising laws as it portrayed and encouraged gambling behaviour that was socially irresponsible or could result in social, financial, or…

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Sportsbet Remains the Leading Gambling Company in Australia Despite Increasing Compliance Issues

Sportsbet Remains the Leading Gambling Company in Australia Despite Increasing Compliance Issues

The powerful mixture of gambling, sports betting and poker brands including Paddy Power, Betfair and The Stars Corp, which is currently owned by Flutter Entertainment, has provided the Irish bookmaking giant with the chance to reach deeper into the Australian gambling industry. Following the merger between Flutter and The Star Group, the company’s Australian businesses – Sportsbet and BetEasy – have managed to overtake the largest betting shop owner in the country from Tabcorp thanks to the combined revenue of the units. They currently control approximately half of the country’s…

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Flutter Entertainment Warns about Upcoming Lay-Offs in Its Irish and British Business Due to Planned Changes

Flutter Entertainment Warns about Upcoming Lay-Offs in Its Irish and British Business Due to Planned Changes

Several days ago, the Irish bookmaking giant Flutter Entertainment revealed that it had decided to lay off some of its employees in Ireland and the UK after completing an internal review. The gambling business, which currently owns and operates some of the most popular betting and gambling brands not only in Ireland and the UK, but also worldwide, such as Sky Bet, Paddy Power, and Betfair, did not unveil any more information regarding the exact number of redundancies it intended to make or which company roles would be affected. A…

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