Slotegrator Brings You Up To Speed with the Gambling Industry’s Main Events in 2023Published April 2, 2023 by Florin P
The online and land-based gambling industry underwent major changes worldwide in the first quarter of 2023 and the best is yet to come.
The first quarter of 2023 has concluded, and there are already important things to discuss in the gambling industry. Some of these events produce meaningful change, while others are yet to impact the industry and those involved. Slotegrator did a brilliant job documenting the seven biggest stories so far, which is what those who want to keep up with the latest developments must know.
European Countries Promote Responsible Gambling
Players from Europe can consider themselves lucky to have plenty of casinos accepting them and an overall climate of security and transparency. This results from diligent efforts made by national and international regulators, such as the Malta Gaming Authority and the European Committee of Standardization. In 2023 they doubled down on their responsible gambling objectives and developed programs aimed at helping players.
The Environmental, Social, and Governance (ESG) Code of Good Practice is in the works at the MGA. The goal is to promote projects and investments that encourage environmental responsibility. The voluntary use of the ESG platform is expected to act as a catalyst and change the way investments are made in the gambling sector. Meanwhile, The European Committee of Standardization works on a pan-European framework to protect the most vulnerable gamers.
Storm Clouds are Gathering in Uruguay
The government of Uruguay has big plans for 2023, but its recently proposed online gambling bill failed to gain traction. Those who criticize it highlight that land-based casinos will have a monopoly over online platforms while insufficient controls are being implemented. The Football Association of Uruguay (AUF) is one of the critics of the proposed measures, as it will be denied the chance to advertise partnerships between football clubs and Internet bookmakers.
A New Website gets a Curaçao license.
The Curaçao Ministry of Finance is in the spotlight with a brand-new website to showcase its latest gambling policies. This is expected to help prospective casinos and bookmakers who seek a license currently issued by the Curaçao Gaming Authority (CGA). The authority will be in charge of issuing B2B and B2C licenses and those interested will learn more about the fees and schedule on the site. Among the most important changes are the enhanced provisions to fight money laundering.
Georgian Players Face New Online Gambling Restrictions
Players from Georgia seem to be unable to catch a break, as their access to online casinos is further limited. Georgian prime minister Irakli Garibashvili agreed with the new laws that only allow land-based licenses to be used for online casinos. In theory, this measure is supposed to protect the most vulnerable citizens and address the issue of problem gambling. One of the changes implies the raising of the gambling age to 25, and imposing higher taxes on gambling revenues.
Gambling Ads are now Illegal in Belgium.
Belgian authorities kept their word and instituted a nationwide carpet ban on gambling advertising. Among the notable exceptions, it is worth mentioning the national lottery, which is still allowed to advertise its products. Sports organizations will not be prohibited from broadcasting sponsorship messages, but they won’t exceed five seconds. The new law also limits the number of ads that can be displayed within an hour, and this legislation comes, in fact, starting on July 1, 2023.
Germany Sets Important Milestone with Legal Gambling
Germans are notorious for their discipline and willingness to comply with laws and instructions that come from the government. Not surprisingly, the German regulator GGL has announced that 95% of all the bets placed nationwide are on legal platforms. The limits of €1000 per month for deposits and bets of no more than $1 per spin on slots didn’t have a deterring effect. Once again, the Germans decided to stick to the rule of law and adjust to the new online gambling environment.
Gambling Businesses to Self-govern in India
Most countries have passed strict gambling laws and have a centralized structure for governing iGaming. The second most populous country in the world decided to walk down a different path and allow businesses to self-govern. The Ministry of Electronics and IT published rules establishing a series of governing bodies responsible for overseeing the gambling industry. Time will tell how the online gambling businesses will self-regulate and how that will benefit players in the long run.
2024 is still far away, and plenty of exciting things are happening in the online gambling industry. The events so far give useful hints to what the immediate future will bring in one of the most exciting and fast-changing industries. Slotegrator is expected to keep up the good work and analyze the most impactful events so they are worth following.
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