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UK regulator releases results of online gambling investigation

UK sports betting Under the CRA, all contract terms must be fair and transparent, and the CMA was looking to see whether certain terms in online gambling contracts created “a significant imbalance, contrary to the requirement of good faith, to the detriment of the consumer.” Under the CPRs the regulator was looking at possible “unfair commercial practices, in particular misleading acts or omissions” as well as “behaviour contrary to the requirements of professional diligence”. Progress Play and Jumpman gaming now join a short list of other online operators including PT Entertainment Services, Ladbrokes and William Hill in adjusting their practices to fall into line with the CMA’s requirements. Giants like William Hill, Ladbrokes and PT Entertainment had been involved in creating restrictions on players cashing out while using a casino bonus offer. While they were earning or using their bonus gamblers on these sites were prevented from cashing out or required to forfeit the proceeds they had earned off the bonus is they wanted their money. Such practices were deemed unfair trading practices by the CMA.

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Greece-approved online betting turnover tops 5.3b in 2017

greece-online-betting-turnover-2017 Greece-approved online betting turnover tops €5.3b in 2017 Greece is a nature of stone-cold degenerate gamblers, according to the government’s latest statistics. Figures released Thursday by the Gaming Supervision and Control Commission (EEEP) showed Greek citizens spent €6.01b on all forms of land-based gambling in 2017, an 8.7% rise on 2016’s total. Last year’s land-based gross gambling revenue was up 2.3% to €1.63b. Greek lottery and betting monopoly OPAP claimed nearly €4b of this turnover, while other lotteries contributed €458m and the Athens racetrack handled a mere €41m. The nation’s nine casinos generated spending of €1.582b, essentially flat from 2016’s €1.577b while revenue came in at €253.3m. But the casinos managed to hold fast despite casino visitation falling 4.4% year-on-year to 2.45m and the total number of gaming options (slots, tables, terminals, etc.) falling 3.46%. Online sports betting turnover was nearly as vast as the terrestrial gambling total, with the 24 companies that continue to operate under Greece’s so-called ‘transitional’ permits handling €5.28b last year, up from €5b the year before, while online revenue was a comparatively modest €280.6m. Greece still hasn’t given those 24 operators any firm timeline for when the government will get around to issuing its permanent online gambling licenses. Whenever this license derby gets underway, interest is expected to be keen, despite the proposed 35% tax on online gambling revenue (and the odd outrageous back-tax demand ).

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