Regulatory Changes Affecting the iGaming Sector

Regulatory Changes Affecting the iGaming Sector

The iGaming sector is always evolving, bringing about new regulations constantly. These regulatory changes and limits significantly affect how customers, especially the high roller segment, feel and the operators’ performance in certain areas. Since playing the paradise slots available in online casinos allows players certain financial transactions that could be considered risky, if left unchecked, finding such strong limitations could also harm the casino business. Here are a few of the most recent limitations and rules that affect the international online gambling market.

Regulatory Changes and High-Risk Countries

The European Commission, which is in charge of running the European Union (EU), has updated some regulatory changes on its list of high-risk countries whose players should be checked more closely by gambling companies. According to Article 9 of Directive (EU) 2015/849, the Commission identifies any high-risk third countries with strategic flaws in their anti-money laundering system, such as croupier fraud and terrorist financing. What is a croupier, you might ask. This is a dealer in charge of the casino table games. 

Due to this regulation, operators based in the EU who do business with players from these countries or offer their services to them must be more careful. The list was first made public in July 2016, and it has since been updated multiple times as the Commission identifies and warns about other nations.

An update that came out recently added Burkina Faso, the Cayman Islands, Haiti, Jordan, Mali, Morocco, Myanmar, the Philippines, Senegal, and South Sudan to this list. Afghanistan, Barbados, Cambodia, Iran, Jamaica, Myanmar, Nicaragua, Pakistan, Panama, Syria, Trinidad and Tobago, Uganda, Vanuatu, Yemen, and Zimbabwe are among the other countries on the list.

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Belgium’s BAGO slams the plan to separate betting and gaming accounts

The Belgian Association of Gaming Operators (BAGO) has expressed concerns that a proposed regulatory change could harm efforts to promote safer gambling. The change would require players to create separate accounts for online betting and casinos and would prohibit operators from offering different types of casino games on the same platform. This proposal was originally introduced in the House of Representatives in 2019 but was delayed for over two years before finally getting underway.

The amendment to the law aims to prevent players from using the same account to participate in different games of chance, like American original slot games operated under different licenses. It would also prohibit transacting between multiple player accounts. The Belgian Gaming Commission (BGC) recommended the use of multiple URLs, but BAGO argues that this approach poses a risk to consumer protection.

BAGO warns that requiring players to maintain multiple accounts could result in a loss of control over spending, and operators may find it more difficult to monitor player behavior and provide aggregated data to the BGC. Additionally, the increased friction may drive some players to unregulated sites, which do not comply with the rules and may not provide adequate player protection.

While technically an operator could use a distinct URL for each type of game, BAGO argues that this would not be beneficial to players in practice. BAGO believes that the proposal poses a severe threat to consumer protection and could undermine efforts to promote safer gambling.

More Restrictions for Players Netherlands

Players at Dutch online casinos may soon face more regulatory changes. Franc Weerwind, the Netherlands’ minister for legal protection, is considering imposing time and stake restrictions on all operators. The Kansspelautoriteit (KSA) claims that the current expectation that all players limit their games could be more effective because many operators provide high-limit alternatives.

Weerwind claims he is examining two possibilities: adding a cap to existing restrictions and determining whether it is feasible to impose a cap on all providers. He notes that while privacy concerns have prevented online gaming activity from being monitored, he will look into whether any technological breakthroughs might make this possible.

Final Thoughts

Change in iGaming is constant. While most are necessary, some can affect the interest of people. Above we have highlighted regulatory changes the iGaming sector has experienced. While some operators are not okay with these new regulations, it cannot be disregarded that they are all about protecting igamers. We bring you this casino news because defending players’ interests at Slots Paradise Casino will always remain our priority. 

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