New York’s Daily Sports Gambling Law Struck Down
There visa a split ruling by New York’s judge related to a case dealing with fantasy sports sites. A Supreme Court Judge from Albany, USA delivered a mixed sort of order for the people using fantasy sports sites such as Draft Kings or Fan Duel.
According to his order, people indulging in such hobbies related to fantasy sports on these sites are acting unconstitutionally and yet it can’t be categorized as a criminal activity! In his decision, spanning up to twenty-eight pages, Justice Gerald Connolly stated that there is only a little, if any, identified difference which can be acknowledged between these complex gambling exercises.
The gambling activities which he had mentioned in his order and considered include football betting, poke rand IFS (Interactive Fantasy Sports). In the IFS sites, people make selective teams and wager on these players just like “fantasy football” or “rotisserie baseball leagues”. Depending upon the performance of the selected e-players, the punters are rewarded with money prizes.
Belgium to Standardise European Gaming Law
According to the latest news from Belgium, the director of the Belgium Gaming Commission is going to head a new project that will deal with the standardization of the European Gaming Law throughout the Europe.
This project is being sponsored by European Committee standardization. The committee includes representatives of gaming industries as well regulators to create an order of compliance and reporting that can be considered as standard for the whole gaming sector.
The main motive behind this project includes implementing standards on the type of data that the online gaming operators require to send to their respective regulatory bodies along with the way they do it. All of the new standards will be discussed and approved under the aegis of Technical Committee 456. The push for creating this committee seems to be a reaction to a request made by the European Commission.
New Gambling Laws for Sweden
After the final adoption of a bill related to re-regulated gambling market, Sweden is all set to introduce a new gambling act that will totally change the system of providing licenses to the gaming companies.
These new regulations will most probably come into force in the first month of 2019. As per the minister of Public Administration, Ardalan Shekarabi, the unregulated gaming mafia has taken over this industry and now gambling has become a part of the nefarious criminal activities.
It has been fourteen years since the first draft for gaming industry was approved and now it is the nighttime to regain control of the gaming market of Sweden. From January 2019 on wards, any company that wants to do business in Sweden is required to apply for a license. The operators found operating without valid licenses can be prosecuted under the new gambling law.
This new version of gambling law also ensures gambler’s protection and provides guidelines to negate the negative effects of the gambling.
Belarus Proposes Anti-Money-laundering Amendments
Tax and Duties Ministry of Belarus is considering a new draft legislation in order to make some changes related to money laundering in its present gambling law.
This draft is currently under consideration and has been submitted for public review and approval. The main motive behind this amendment is to prevent the intentional and non-intentional involvement of gaming operators in money laundering,terrorist finance and WMD proliferation.
This draft resolution along with the current gaming laws clarifies the list of criteria for identifying suspicious financial activities. The salient features of this amendment include red flagging of a financial transaction in the form of a deposit made by an individual for three or more months without actually participating in any of the gaming activities along with incompatibility with source of his or her income.
Apart from dealing with individual personal cases, this amendment also spells out rules and regulations for gaming operators.
New Gambling Law in Switzerland
The Swiss Gaming Act, the newly passed gaming legislation in Switzerland, will most probably come into force from the first month of 2019. This law will concentrate on regulating the already existing licensed online gaming industry along with the complete ban on offshore operators.
Apart from banning foreign operators, this law will legalize the licensed iGaming companies from Switzerland itself. The enforcement of this act has been confirmed by Federal Council of Switzerland. Under this new law, new license applications by interested parties can be submitted in the first six months of the next year.
It is expected that new licenses will be issued by the July of 2019 along with a total ban on foreign companies. Under the new law, the approved gaming operators can provide poker and roulette to their clients but with a stringent constraint on the wagers.