Deposit Archives - Keno Wizard https://kenowizard.com/tag/deposit/ The Ultimate Keno Destination for Odds, Tips & Tricks Tue, 04 Jun 2024 18:08:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Deposit Archives - Keno Wizard https://kenowizard.com/tag/deposit/ 32 32 230792155 Dutch Regulator KSA Implements New €300 Deposit Limit for Young Gamblers https://kenowizard.com/2024/06/04/dutch-regulator-ksa-implements-new-e300-deposit-limit-for-young-gamblers/ https://kenowizard.com/2024/06/04/dutch-regulator-ksa-implements-new-e300-deposit-limit-for-young-gamblers/#respond Tue, 04 Jun 2024 18:08:35 +0000 https://kenowizard.com/2024/06/04/dutch-regulator-ksa-implements-new-e300-deposit-limit-for-young-gamblers/ The Netherlands’ regulator, Kansspelautoriteit (KSA), has issued an updated Responsible Gaming Policy Rule, setting a new deposit limit of €300 for players aged 18-24 and €700 for players over 24. Announcing the revised rules on June 3, KSA highlighted the new deposit limits as a significant advancement in fostering a safer gambling environment for young [...]

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The Netherlands’ regulator, Kansspelautoriteit (KSA), has issued an updated Responsible Gaming Policy Rule, setting a new deposit limit of €300 for players aged 18-24 and €700 for players over 24.

Announcing the revised rules on June 3, KSA highlighted the new deposit limits as a significant advancement in fostering a safer gambling environment for young people.

Immediate Implementation and Future Changes

nl_regulator_sets_dlr300_deposit_limit_for_players_aged__18_4_The Responsible Gaming Policy Rule was published in the Netherlands’ Official Gazette and took immediate effect. However, KSA noted that specific policies, including the deposit limits, will be implemented starting October 1. This delay allows for necessary IT adjustments and gives operators time to recruit new employees to manage the changes.

Starting October 1, operators must conduct financial checks on young players (ages 18-24) depositing €300 or more to ensure they can afford to gamble that amount. For those over 24, this threshold is set at €700. If a player cannot afford the deposit, the operator must block any further deposits for that month.

Operators can only deviate from the €300 limit in exceptional circumstances, such as for professional poker players needing to deposit larger amounts for tournaments.

Stricter Real-Time Monitoring

The revised Responsible Gaming Policy Rule also mandates stricter “real-time” monitoring of player behavior. Both land-based and online operators must intervene within an hour of detecting potentially harmful gambling behavior, such as excessive participation. This 24-hour monitoring aims to prevent gambling-related harm by addressing signs like:

  • Gambling for extended hours at night
  • Continuous betting
  • Repeated depositing

The KSA defines gambling for over six hours a day as a potential sign of gambling harm.

“With this policy rule, the Gaming Authority aims to further flesh out the laws and regulations that apply to the recruitment and advertising activities of license holders and to the addiction prevention policy and its implementation by license holders, where applicable,” states the publication in the Official Gazette.

Rationale for Rule Amendments

In September 2023, KSA conducted a study on how ten operators managed their duty of care. The study involved collecting data on player monitoring, player behavior, and addiction prevention policies. The regulator found that operators did not consistently intervene with at-risk players in a timely manner.

The study’s findings, along with recent changes to gambling advertising rules and a role model ban, prompted KSA to draft amendments to its Responsible Gambling Policy Rule. The draft underwent a consultation process, receiving 33 responses from operators, trade bodies, and addiction experts. Most feedback focused on addiction prevention.

Netherlands’ Ongoing Regulatory Efforts

The amendments to the Responsible Gaming Policy are part of the Netherlands’ broader efforts to tighten gambling regulations. In May, a coalition agreement proposed raising the gambling tax from 30.5% to 37.8%. In April, the Dutch House of Representatives voted to ban both online gambling advertising and “high risk” online gambling, including slots.

Additionally, research by the Keurmerk Responsible Affiliates (KVA) revealed that illegal operators in the Netherlands accepted bets from minors. Peter-Paul de Goeij, director of the Netherlands Online Gambling Association, anticipated a “rigorous” response from KSA following these findings.

KSA has also imposed several fines on unlicensed operators offering their services in the Netherlands. Notably, Sarah Eternal was fined €280,000 per week for operating without a license, and Casbit received a warning for a similar offense.

Source: “NL regulator sets €300 deposit limit for players aged 18-24”. iGaming Business. June 3, 2024

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Sightline’s New Deposit+ Tool Taps into Idle Slot Cash   https://kenowizard.com/2023/10/06/sightlines-new-deposit-tool-taps-into-idle-slot-cash/ https://kenowizard.com/2023/10/06/sightlines-new-deposit-tool-taps-into-idle-slot-cash/#respond Fri, 06 Oct 2023 15:42:47 +0000 https://kenowizard.com/2023/10/06/sightlines-new-deposit-tool-taps-into-idle-slot-cash/ Sightline Payments, a provider of award-winning cashless, mobile, and loyalty solutions, has introduced a revolutionary new solution called Deposit+. The latest addition to Sightline’s arsenal was described as a “groundbreaking new tool that empowers casinos to access all idle cash across the entire slot floor.” The new solution provides casino operators with daily access to [...]

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Sightline Payments, a provider of award-winning cashless, mobile, and loyalty solutions, has introduced a revolutionary new solution called Deposit+. The latest addition to Sightline’s arsenal was described as a “groundbreaking new tool that empowers casinos to access all idle cash across the entire slot floor.”

The new solution provides casino operators with daily access to cash that is sitting idle in slot machines and TITO kiosks, allowing clients to optimize their working capital. In addition, Deposit+ helps casinos optimize their drop schedules since cash is credited to the bank account.

Sightline also noted that Deposit+ is not a lending product – according to the company, it simply provides gambling companies with access to cash that would otherwise be sitting idly in machines. By using the solution, operators can earn daily provisional credit across slot devices, reduce outstanding debt and make further investments.

Deposit+ is notably a tool without any hardware or software requirements. The solution works with casino operators’ existing casino management systems. And provides daily reports through the Sightline system.

The New Solution Answers the Industry’s Demands

Some of Sightline’s leaders commented on the release of Deposit+. Omer Sattar, the company’s chief executive officer, noted that there is an estimated $3 billion in slot cash and another $2 billion in TITO operators can tap into thanks to the new solution.

Deposit+ gives operators access to that cash, freeing up stuck capital, maximizing cash flow, and putting the entire industry in a powerful reinvestment position.

Omer Sattar, CEO, Sightline Payments

Tom Pierro, the company’s senior vice president of product management, also commented on the release, saying that Deposit+ answers a need operators have had for decades. He said that until today, cash stuck in slot machines was an untapped potential.

Now, we are thrilled to introduce Deposit+ and add another powerful tool to operators’ revenue capabilities.

Tom Pierro, SVP product management, Sightline Payments

Lastly, Kirk Olson, the company’s senior vice president of sales, expressed the company’s desire to innovate and introduce new solutions for its casino partners.

Now with Deposit+, operators finally have the solution they have been waiting for, giving them access to their cash, freeing them to pay down debt more rapidly and to make investments without accruing additional debt.

 Kirk Olson, SVP sales, Sightline Payments

Operators can learn more about the solution by visiting Sightline during its upcoming appearance at G2E.

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Spain Continues to Work on a Cross-Operator Deposit Limit System https://kenowizard.com/2023/06/01/spain-continues-to-work-on-a-cross-operator-deposit-limit-system/ https://kenowizard.com/2023/06/01/spain-continues-to-work-on-a-cross-operator-deposit-limit-system/#respond Thu, 01 Jun 2023 03:55:31 +0000 https://kenowizard.com/2023/06/01/spain-continues-to-work-on-a-cross-operator-deposit-limit-system/ Despite the expected significant obstacles, the Dirección General de Ordenación del Juego (DGOJ) believes cross-operator deposit limits are vital for a safer market. The regulator’s decision to press on comes in response to growing concerns about the potential harms of excessive gambling. With potential market imbalances threatening players, the DGOJ continues its mission to promote [...]

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Despite the expected significant obstacles, the Dirección General de Ordenación del Juego (DGOJ) believes cross-operator deposit limits are vital for a safer market. The regulator’s decision to press on comes in response to growing concerns about the potential harms of excessive gambling. With potential market imbalances threatening players, the DGOJ continues its mission to promote responsible gambling practices.

Rising Challenges Necessitate a More Comprehensive Approach

One of the key objectives of the DGOJ’s recent decision to press on with a cross-operator deposit limit system is to promote responsible gambling practices among online operators. By imposing deposit limits relevant across different platforms, players will be encouraged to spend responsibly and effectively manage their gambling activities. 

Such a measure will introduce a valuable tool for self-control, enabling players to maintain a healthy balance between enjoyment and responsible gambling. DGOJ director general Mikel Arana noted that more than half of multi-operator players who had exceeded the current limits were among the biggest losers.

There is an undeniable relationship between surpassing the limit, doing so in more than one operator… and showing symptoms of a potential gambling problem.

Mikel Arana, DGOJ director general

The regulator’s data suggests a significant disbalance in the Spanish market. Statistics indicate that 1% of active online players contributed more than 40% of GGR. Furthermore, operator revenues between 2017 and 2022 skyrocketed by 75% despite a modest 200,000 increase in active players. A few individuals accounting for most gambling losses raise significant concerns, necessitating the DGOJ’s continued efforts.

The Planned System Faces Significant Challenges

Implementing cross-operator limits will complement the Spanish regulator’s forthcoming reforms. The new Royal Decree on Responsible Gambling Environments marks another milestone development for the country’s gaming market, introducing over 30 changes to existing regulations. These new rules seek to protect Spain’s youth and introduce a personalized approach for at-risk gamblers and new monitoring requirements.

Thanks to effective enforcement, gambling companies in the country will do their best to abide by the new rules. However, introducing a unified system spanning all operators will be no easy feat, posing budgetary, regulatory, and technical challenges. While not an all-encompassing solution, cross-operator limits will complement existing measures and serve as a lynchpin for player protection.

We see the cross-operator deposit limit system as an additional tool. It is intended… to complement (existing) operator limits and, of course, be voluntary for the player.

Mikel Arana, DGOJ director general

Collaboration between regulatory bodies and online operators, technological advancements, and public support will be crucial in successfully implementing the planned measures. As Spain maintains its focus on player protection, introducing cross-operator deposit limits will set a positive precedent for responsible gambling regulation worldwide.

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