Talking about the expansion of sports betting, April was a particularly successful month for Kentucky as the state opened its doors to online and sports wagering. On the other hand, Maryland and Oklahoma won’t be launching their markets yet, as their legislations weren’t passed by the respective Senates.
Meanwhile, in Asia, the long-awaited plans for IR in Japan are finally coming true, as MGM Resorts and ORIX-Corp received approvals for its development. Finland is brainstorming the idea of overhauling its gambling sector.
Most Significant Updates USA-Wide
California: According to bill AB 341, the state is imposed a 20-year moratorium on opening new cardrooms. As for the existing venues in operation, those with less than 20 gaming tables can add a maximum of 10 new tables over the said period. Others are allowed to enhance the offer with two new tables in the first year and additional four every 4 years after that. The Bill is sent to the Senate for consideration.
Connecticut: Upon ending its strategic partnership with Rush Street Interactive, the State Lottery is looking for a new associate to operate its sports betting business.
Georgia: It seems that the state won’t introduce retail and online sports betting, as it wasn’t supported by the Senate.
Kansas: If the most recent legislation comes to life, the state’s tribes will be permitted to offer retail and online sports wagering beyond their reservation boundaries.
Kentucky: Following the Governor’s approval for HB 594, unauthorized gaming machines were banned. He also greenlighted HB 551 to legalize online and sports betting in the state. As far as defined, nine racetracks would have the permission to acquire licenses and operate the said activities via three skins each. The retail sector is taxed 9.75% of gross win, while the tax for online amounts to 14.25%. The Kentucky Horse Racing Commission is in charge of supervising the industry.
Maryland: Senator Ron Watson’s legislation (SB 267) to approve online casino gaming in the state wasn’t passed by the Senate. Before resubmitting the proposal in the next legislative session, Watson intends to establish a study and explore the best way to regulate online casinos over the summer.
Missouri: Should Bill HB 556 receive approval by the Senate, the state could establish retail and online sports wagering.
New Hampshire: Approved by the Senate, Bill SB104 which aims to permit online casino table gaming in the state was sent to the House for consideration.
North Carolina: Chances are the state will welcome sports wagering, as Bill HB 347 received House’s approval and went to the Senate for consideration.
Oklahoma: The state’s tribes won’t get the opportunity to offer retail and online sports betting, as the Bill HB 1027, died in the Senate.
Rhode Island: If the Bill receives all the necessary approvals, betting on college sports events that involve Rhode Island collegiate teams or any collegiate events that take place in the state will be allowed.
Vermont: The bill HB127 which aims to authorize online sports betting in the state, was passed by the House and it progressed to the Senate for consideration.
US Federal: According to the new rules in the Responsible Marketing Code for Sports Wagering imposed by the American Gaming Association, it is prohibited to use the term “risk-free”. Also, any person under the age of 21 is not allowed to take part in gambling advertisements. College partnerships are not permitted either.
Overview of Regulations in Australia, Asia, and South America
AU: Crown Melbourne Casino received directions from the Victorian Government to set up limits on time spent gambling. A 15-minute break is mandatory for consumers who’ve gambled for 3 hours. Consumers who’ve gambled for 12 hours within 24 hours will be requested to take a 24-hours break. In addition to this, the limit per week is set at 36 hours.
India: Following the newly-enacted legislation, the State of Tamil Nadu prohibited all forms of online gambling, including games of skill. On top of that, the Government started investigating companies that had been targeting local consumers.
Japan: Osaka’s $9bn integrated resort plan finally received approval from the Government. The IR will be developed by MGM Resorts and ORIX-Corp. If everything goes as planned, the resort will start welcoming guests starting in 2029.
Brazil: The newly-set tax for sports betting is 15% on GGR, while players’ profits will be taxed 30% and marked as part of their income tax returns.
Chile: According to the most recent regulations presented by the Internal Revenue Service, earnings from online gambling need to be taxed. From April 1, all consumers who acquired significant amounts of money while gambling need to declare gambling as income.
Colombia: Coljuegos, Colombia gambling authority gave its approval for the operation of instant win lottery games online.
Newest Regulations in Europe
Denmark: According to the newest requirements issued by the Ministry of Taxation in Denmark, KYC and AML requirements for the land-based sector need to be aligned with those in place for the iGaming industry. As far as the guidelines indicated, operators are prohibited to send any promotional materials to self-excluded players. To level up their responsible gambling measures, operators are requested to track players’ gambling activity. The said measures are to become effective starting October 1, 2023.
Finland: The country is mulling over the possibility of replacing the current gambling monopoly system with a commercial multi-licensed regime. If the Government is interested in keeping a monopoly on the sector, it needs to be given powers to block uncertified gambling sites and payments.
Netherlands: As far as the Government noted new restrictions on untargeted advertising should become effective until July 1, 2023. Once they go live, gambling ads on television, radio, in print, or in public spaces will be strictly prohibited.
H2 Gambling Capital, April 2023
The post Recap of Gambling Regulations in Online and Land-Based Industries in April 2023 first appeared on RealMoneyAction.com.