Last September, several regulated operators in Sweden complained that a financial services company that offers next-gen open banking payments and payouts, Finshark, had facilitated a series of money transfers between consumers and unlicensed operators in the country.

A few of the worried operators carrying a license went further and asked the country’s expert authority in gambling and lottery, the Swedish Gambling Authority (SGA), to perform a careful assessment in light of additional similarities to a directive from roughly four months ago. 

The said directive convinced the provider of instant bank payment solutions that seamlessly integrate into existing systems, Zimpler, to stop providing a similar service to operators.

Things Have Gotten Worse 

As it appears, the gambling industry in Sweden does not have any good news to announce regarding the evolution of things. 

On the contrary, problems are not only persisting, but they have gotten worse in the context of an extra pay-and-play feature being allegedly added to the list. 

The primary allegation concerns a series of casino websites that are under the ownership of Infiniza Ltd, which is a Malta-based company that runs under a license issued by the prestigious Malta Gaming Authority in 2018. 

According to screenshots courtesy of NEXT.io, Swedish games are able to sign in using Swedish mobile phone numbers and complete deposits via the national identity verification system BankID with a number of banks in the country. 

The list includes Handelsbanken, Nordea, and Swedbank. The deposit’s recipient is instant payment provider Krofort which does not showcase any information regarding a license. 

Allegedly, Infiniza is the sole gaming operator in Sweden with online casino brands connected with both Krofort and Finshark. This would give it a competitive edge over licensed operators.

In 2023, regulated providers emphasized that operators in the grey market have the advantage of being able to use these types of fast payment services which are expected from domestic players looking for fast cashouts. 

The same operators raised concerns regarding the reasons why the SGA has failed to take any course of action as of yet.

The SGA Can Block Payments 

At the start of March 2023, the regulator announced it would clamp down on business-to-business suppliers offering their products to unregulated operators targeting Swedish players while failing to comply with the regulations. 

In spite of the fact that payment provision was not part of the newly installed regime, the SGA was given the right to block payments. 

In July, the authority instructed Zimpler to stop offering payment solutions via BankID to operators functioning without a license. 

Zimpler followed suit and an end to its ties with gaming companies licensed in the European Union that did not carry a Swedish license while deciding to also appeal the decision on the grounds that it affected it while raising legal problems that required clarification for the well-being of the industry.

Earlier this week, the SGA banned Smein Hosting and True Polygon Entertainment at the end of an investigation that showed they were targeting domestic players in Sweden without authorization. 

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Identified as a public health issue, gambling is widely spread across Australia. Annually, Australians spend billions of dollars on different forms of gambling, including sports betting. Gambling ads contribute toward the record losses, but the country’s federal government is currently exploring options for a reform of the sector. Labor MPs have previously proposed a ban on gambling ads, but the federal government is currently reviewing whether or not this can be implemented.

The proposed reform is supported by Tim Costello, a chief advocate for the Alliance for Gambling Reform. With more people engaging in gambling activities, gambling ads are only putting fuel to the fire, at least for the moment.

In a recent report released by The Guardian, Annette Kimmitt, the chief executive of the Victorian Gambling and Casino Control Commission (VGCCC), the independent authority that regulates the gambling sector in Victoria, spoke about the impact of gambling advertisements and how those ads can push even children into gambling. She confirmed that she is “really waiting with bated breath for the federal government to respond to the inquiry’s recommendations.”

Moreover, Kimmitt spoke about an increasing number of parents who complained to her upon discovering that their children had created online betting accounts. The chief executive said she was bombarded with such complaints while others were asking her for a gambling advertisement ban. To the requests about a gambling ban, Kimmitt responded “I wish I could, but that is not up to me.”

“When people find out I am the head of the Victorian gambling regulator, I am bombarded with stories from parents of teenagers who have discovered that their children have online wagering accounts.“

Annette Kimmitt, chief executive of the VGCCC

Gambling Reform Is a Once-in-a-Generation Chance

Costello highlighted the importance of the potential gambling reform. He encouraged the federal government to consider major changes to the gambling sector, explaining that this is a “once-in-a-generation chance for reform.” Additionally, Costello said: “The public and parents are crying out for it and the regulator is in touch with the community and knows exactly how they feel.”

In an effort to reduce gambling ads, New South Wales implemented changes to its laws about external advertising. The new state regulations came into effect last year, prohibiting the display of gaming signage. The state’s gambling regulator, Liquor & Gaming New South Wales, was tasked with monitoring the compliance with the new rules and as of December, highlighted that 99% of the venues complied.

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Gambling addiction in the United States is getting more and more serious as calls to get the situation under control grow louder. The Guardian spoke with experts who highlighted America’s concerns about the young people exposed to harm.

Gambling organizations across the US have noticed a concerning number of teen and young adult patients seeking help.

New Jersey, which has always been ahead of the curve when it comes to gambling, is currently dealing with an influx of harmed young patients. According to the Council on Compulsive Gambling of New Jersey, the number of requests for support has more than doubled since 2018. This was also echoed by UCLA, which has been evaluating the trend.

Many believe that the convenience mobile gambling provides has made it very appealing to young people Brad Ruderman, of the Beit T’Shuvah treatment center in Los Angeles noted that this would be the first generation to grow with mobile gambling.

Keith Whyte, the National Council on Problem Gambling’s executive director, asked a room of 40 17-year-old boys in Virginia how many had sports betting apps on their phones. Thirty-six boys admitted to having one, further supporting T’Shuvah’s claim.

Experts believe that young people, whose brains are still developing, might be much more susceptible to gambling’s tricks of attracting customers.

Arnie Wexler, a counselor, fears that America might be “killing its youth.”

The Situation Is Bad But Not Hopeless

Rick Benson, the founder of the Algamus treatment facility in Goodyear, Arizona, believes that America might be headed into a “gambling addiction quagmire if not crisis.” He said that the nonstop betting opportunities provided by the local mobile operators are simply too convenient.

Another aspect is peer and commercial pressure, Shekhar Saxena, ex-director at the WHO, believes. He pointed out that younger people easily influence one another, exacerbating the problem.

For reference, in 2018 only 11.5% of the people who contacted New Jersey’s gambling support services admitted they were under 25. During the first 10 months of 2023, this number had increased to 19.6%.

Luckily, the younger generation is more likely to seek help, according to UCLA’s co-director of the gambling studies program, Timothy Fong. The stigma among them is not so serious suggesting that there might be hope for solving the issue.

The Guardian also spoke with Amanda Blackford, director of operations and problem gambling services at the Ohio Casino Control Commission. Commenting on the rising harm rates that followed the recent legalization of sports betting, Blackford said that problem gambling will always exist, so it is important to help as many people as possible.

Many Believe Tougher Regulations Are Needed

In the meantime, calls to better regulate the sports betting sector have increased. While many states now offer gambling, some believe that few of them are sufficiently engaged in the protection of customers.

Felicia Grondin, executive director of the Council on Compulsive Gambling, is one of the many supporters of restrictions on gambling ads. Ads are already talked about a lot in other modern markets as many believe that exposure leads to more harm.

WHO’s Saxena, on the other hand, said that operators themselves should not exploit their consumers’ vulnerabilities. Saxena thinks that allowing the customers to choose how often and how much to wager is not enough.

The industry, however, argues that an overwhelming majority of consumers wager safely. According to the American Gaming Association (AGA), legal operators offer a number of important safeguards to keep players safe.

Overregulation, on the other hand, risks channeling people toward the black market, which offers few, if any, of these safety measures. The AGA urged for further research before proceeding with overregulation.

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On November 27, Caesars Sportsbook, DraftKings, PSI, and WynnBet presented their sports wagering Q3 results to the Massachusetts Gaming Commission (MGC) chaired by Catherine Judd-Stein. 

The four operators took the opportunity to update the regulator on their recorded revenue and various approaches to a variety of initiatives including responsible gambling (RG), lottery engagement, and diversity in sports betting.

Chair Judd-Stein raised a series of concerns as a result of the presented data on responsible gambling tools, with emphasis on the low rate of utilization among consumers in the Bay State. 

DraftKings, Asked to Improve its RG Figures 

During the meeting, DraftKings, represented by senior director of regulatory operations, Jake List, explained that less than 0.1% of their customers had actively used time limits. 

Moreover, only 2.3% of them used deposit limits while 0.13% were reported using spending limits. Wager limits were only imposed by 0.4% of all users. 

Judd-Stein expressed her dissatisfaction with the numbers, asking Draftings to take action toward improving the figures. She further added that the regulator’s director of research of RG had also shown concern over the fact that “the patrons just are not utilizing” the tools. 

The chairwoman emphasized the need to make RG tools appear to be “cool” in order to stimulate customers in the state to use them while welcoming any idea that DraftKings might wish to use to “get the folks to use these.”

List responded to the chairwoman’s observations by explaining that while they will continue to push for the destigmatization of RG tools, the small percentages presented in their report actually equated to thousands of people. 

Few Minor Betting Examples

The open meeting also saw the four licensees reporting single-digit or zero examples of minors betting. 

Commissioners wanted to know the measures taken by operators to identify these examples while tackling bad parenting practices that enable children to bet using the accounts of adults in the household.

Caesars Digital’s compliance manager, Curtis Lane Jr, emphasized that while this is a difficult task, some indicators including sudden location or IP address changes might be used as hints of these offenses occurring.

DraftKings spoke about the advanced Know Your Customer tools they rely on to establish when these offenses take place, including their geo-compliant tool that matches players’ phones to see if they are recognized from other types of things they had signed up to. This way, the operator can recognize the devices used to sign up to its platform.

MGC’s commissioner, Jordan Maynard, said he did not trust that the underage betting numbers presented by the operators were “zero or single digits” when more than 70% of the 3,527 people surveyed in the National Collegiate Athletic Association survey were too young or unable to gamble for the survey. Maynard expressed disbelief at the fact that operators are currently doing everything in their power to prevent minors from gambling. 

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Kentucky officially embraced in-person sports bets on September 7, followed by the much-anticipated launch of an interactive platform for mobile and online wagers three weeks later, on September 28, a date that coincided with FanDuel’s launch of its mobile sports betting app. 

Ever since, sports betting in the Bluegrass State Sports has generated millions in state taxes while coinciding with an increase in the number of people asking for professional gambling addiction help.

While a portion of the wagered money is used to support the public pension deficit in Kentucky, among others, some will also reach the special fund that the state has dedicated to problem gaming. 

According to the Kentucky Council on Problem Gambling’s president, Dr. RonSonlyn Clark, the respective money will be actively used to serve their purpose, in the context of the new problems rising in the state. 

Limited Number of Certified Counselors 

Clark spoke about the need to adjust to the ongoing technology advent that has been adopted by the gambling industry in the past years, which now allows gambling “from the comfort of your home in your pajamas 24/7, every day of the year.”

The president also raised the problem of the limited number of certified compulsive gambling counselors. At the moment, Kentucky only hosts five such certified counselors. 

In the context of a potentially large influx of fresh sports bettors brought in by the legalization of the activity, it is safe to assume that there will also be an increase in the number of players seeking problem gambling support. 

Quoting statistics, Clark spoke about the fact that up to 2% of gamblers will require “some treatment”. The council’s president strengthened this idea by mentioning the rise in the number of calls to the 1-800 hotline for gamblers while anticipating an exacerbation in the future.  

Also commenting on the current systems built to assist people with problem gaming, Clark said that while “some infrastructure” is currently available, she would like to see it get stronger. 

In this context, the Kentucky Council on Problem Gambling has announced its intent to perform blitz training at the head of 2024 as a means of getting people who want to become gambling counselors the necessary.

Gambling Addiction Leads to High Rates of Suicide 

Another important issue raised by Clark regarded the high rate of suicide recorded among those affected by gambling addiction or disordered gambling. 

As explained by the therapist, “20% of people will attempt or complete suicide” once they are faced with gambling-related problems caused by financial issues, shame, secrecy, guilt, and the involvement of their families.

Clark further mentioned the “addictive quality” that goes hand in hand with gambling, mentioning substance and alcohol use as well as a variety of other types of behavioral addictions. While some of these are tied to genetics, others are triggered by people’s lifestyles, the things individuals are exposed to, or as a way of developing new coping mechanisms to escape daily problems. 

Accordingly, Clark expressed her desire to see a rehab center built to assist with recovery. Such a center would incur between $2 and  $3 million dollars in yearly costs.

The council, whose vision is to “be the focal point for problem gambling issues in the Commonwealth of Kentucky”, was set up almost three decades ago in an effort to promote prevention activities, raise awareness, and educate gamblers and individuals confronted with disorder gambling issues.

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Amid the growing popularity of cryptocurrencies across the globe, a new form of gambling entertainment emerged, online crypto gambling casinos. While some users buy cryptocurrencies as a form of investment, others would gladly use them to gamble online. Clearly, this raises eyebrows in light of crypto scams and other crypto-related crimes and what happens when such currency is used to gamble online. This is only one of the reasons why some countries do not allow online crypto gambling. The UK is one such country, yet users can freely access such websites and play.

On Tuesday, Sky News released a new report, probing online crypto casinos. The new research uncovered troubling practices that linger within the online vertical. Such include the promotion of crypto casinos by famous individuals such as streamers or social media influencers.

The recent investigation also uncovered that foul play isn’t out of the question, considering that some influencers may be using “fake money” to promote crypto casinos online. Others, the investigation said, may be breaching the established laws in the UK by showing and promoting online how people can access illegal online crypto gambling websites.

Health Secretary Is Worried with the Findings of the New Investigation

The investigation into crypto gambling comes amid changes to the gambling industry in the UK in light of the White Paper on the Gambling Act. Now, according to Sky News, the gambling regulator in the country, the Gambling Commission, may review and investigate the findings of the new research.

Steve Barclay, the Health Secretary, was asked about the rise of online crypto gambling in the UK and the implications it may bring such as problem gambling. He responded that the Health Department is worried about the rise of crypto gambling and the increase in gambling addiction. Moreover, the Health Secretary commended the report that probed into illegal online crypto casinos, acknowledging that this was an important investigation.

Barclay revealed that this summer, seven new gambling addiction treatment centers opened their doors. This, according to him “points to the wider challenge that we have as a country in terms of gambling addiction.” Last but not least, Barclay acknowledged the upcoming changes to the gambling sector explaining that there are interesting findings from the new investigation that may be reviewed further by his colleagues.

Earlier this year, in light of the tragic implosion of the Titan submarine and the death of all members on board, a crypto wagering site was criticized for accepting bets. Reportedly, at the time, a blockchain wagering site has seen some $220,000 wagered on the outcome of the tragedy. The questionable gambling activity was ongoing before the news about the death of the crew members and the implosion of the vessel broke out.

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Betting on political events is a relatively new activity that has seen some popularity recently. Similar to sporting events, election market bets for political events can favor one candidate or another. In some cases, bettors can wager how far a candidate may go through a political campaign or when they may drop off. In sports, the expansion of betting across the US caused a great deal of concern, primarily related to the integrity of the competitions, especially when it comes to collegiate sports.

Now, a group of lawmakers raised concerns about the possibility of legal gambling on US elections in a recent letter addressed to the Commodity Futures Trading Commission (CFTC). The letter comes after back in June, a private predictions company called Kalshi, notified the Commission that it intends to offer “event contracts on the outcomes of US elections,” wrote the concerned lawmakers. This, in other words, means that the company seeks the approval of the CFTC to offer for-profit gambling on political outcomes.

For-Profit Gambling on Political Events Raises Concerns

In light of this, US Sen. Chris Van Hollen along with Sen. Jeff Merkley, Sen. Sheldon Whitehouse, Edward J. Markey, Elizabeth Warren and Dianne Feinstein, sent a letter to the CFTC, urging the Commission’s chairman, Rostin Behnam, to reject the request submitted by Kalshi.

“There is no doubt that the mass commodification of our democratic process would raise widespread concerns about the integrity of our electoral process,“

reads a letter sent by the lawmakers to the CFTC

In their letter, the lawmakers said that if the democratic process goes through commodification, concerns about the integrity of the process may come. The letter underlines that this would represent an activity that is in opposition to the public interest, which is why, they urged the CFTC to reject the request from the private predictions company.

“Such an outcome is in clear conflict with the public interest and would undermine confidence in our political process — we urge the CFTC to deny Kalshi’s proposal,“

explained the lawmakers in their letter

According to the lawmakers, approval of the proposal by Kalshi would bring statewide for-profit gambling on political outcomes, an activity that may interfere with the elections. The concerned group of lawmakers also added that such for-profit activities may negatively impact the trust in the integrity of the elections in the United States. At the same time, the lawmakers warned that wealthy groups can abuse that process and impact the outcomes of what is otherwise a democratic election process.

The post Concerned Lawmakers Speak Against Betting on Political Outcomes appeared first on Keno Wizard.

Rollbit, an online operator that claims to be “crypto’s most innovative casino,” addressed its community’s concerns regarding its license status. The company vowed to continue maintaining transparency regarding the matter.

Rollbit noted that its license is currently in its annual renewal period. The company pointed out that this is a completely standard procedure for all Curaçao-based platforms.

The company added that it is maintaining active communication with its licensor about the renewal. Rollbit also told its users that it will provide more news as soon as possible. While regulatory affairs tend to be an internal process, the company promised to keep its fans updated.

Since Rollbit’s inception, we’ve undergone the same renewal process each year, which ensures that we maintain the standards expected of a licensed casino.

Rollbit statement

As promised, the company did share an update later, saying that its licensor had suggested some changes related to its NFT and crypto offering.

This Is Not an Anomaly

The company also addressed its NFT and Crypto Futures products. It noted that these have never been covered by its casino license. However, Rollbit reminded readers that this has always been the case and that this has always been noted in its site’s footer.

Despite that, the team has not received anything that would suggest that its business is problematic. Rollbit reassured fans that its diligent legal team is always working hard to ensure the legitimacy of its activities.

Rollbit furthermore added that this is not the first time concerns have been raised during a renewal period. The company said that the gaming and crypto industries can benefit a lot from constructive criticism. However, Rollbit advised users to do more research before voicing their concerns.

Rollbit also said that it has implemented minor UI changes based on its licensor’s recommendations. However, nothing else has changed, the company emphasized. It noted that its operations continue to run smoothly, “with fully covered balances and no issues with deposits or withdrawals.”

Rollbit concluded:

Our team continues to build. We can’t wait to share what we’ve been working on.

Rollbit statement

Rollbit’s statement comes in the wake of customer concerns that saw many traders sell the platform’s RLB token. This reactionary approach caused RLB trading prices to sharply decline.

According to data from CoinMarketCap and CoinGecko, a single RLB equals $0.015 USD as of the time of this writing.

The price of RLB tokens has been declining since mid-March when the tokens’ price fluctuated between 0.32 and 0.39.

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Gambling advertising is causing serious concern for fans of the Australian Football League (AFL), the findings of the annual AFL Fans Association survey revealed.

Concerned about Their Children

The survey conducted among almost 3,000 respondents and reported by The Age revealed that 47% of them believe gambling advertising is the most cause of concern, leaving historically top-ranked umpiring issues and rule changes second and raising more questions about the need for further regulation in the sector.

According to the survey findings, “in addition to the recognized issues of problem gamblers destroying families, there is concern about the normalization and grooming of children as future gamblers due to the sheer volume of gambling advertising” that is bombarding them while watching football.

According to 79% of the respondents, gambling advertising should be banned from grounds, 76% would support a ban from broadcasting, and 62% believe that the AFL should not receive any revenue from gambling advertising.

“Whilst there is some recognition of the need for responsible gambling and fans’ right to gamble on AFL if they wish, there is a clear consensus that the volume of gambling advertising is morally inappropriate and should be banned given the social and family impacts,” the survey stated.

AFL against Further Regulation

Against the idea of further restrictions, the AFL issued a statement reiterating the benefits of its wagering partnership in terms of implementing robust integrity measures and its ability to invest back into the game.

An AFL spokesman also outlined that the league “has strict restrictions surrounding the times that gambling advertising is permitted and have reduced the amount of wagering branding and signage at grounds, [while] players, coaches and officials are not permitted to encourage, induce, advertise or promote betting” on events administered by the league.

AFL’s current sponsorship deal with Sportsbet is worth between AU$12 million ($8.1 million) and AU$13 million ($8.7 million) a year of which 28% is paid to the players. The deal also allows AFL’s partner to use player image rights for promotional purposes.

Devising a ‘Planned Approach’

AFL Fans Association’s president Ron Issko believes that if the league, its various stakeholders, fans and broadcasters sit together, they will be able to devise “a planned approach” how “to reduce the ads over a period of time” initially and eventually eliminate them,” suggesting there will be ways to compensate the AFL for the lost revenue.

The survey comes during the ongoing inquiry into online gambling harm led by Labor MP Peta Murphy and is likely to add fuel to the need for further regulation in the sector while major sports bodies, including the AFL and NRL, are strongly opposing the possibility of new restrictions.

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