Connect with us

Compliance Updates

NFL Alters its Gambling Policy

Published

on

 

The NFL has made changes to its gambling policy. Under the revised policy, the league has reduced the penalty for players who wager on other sports while on NFL premises or NFL business to two games for a first offense. Previously, the punishment was a six-game suspension. For a second offense, it’s a six-game suspension. A third offensive results in a one-year suspension.

The punishment has increased for wagering on NFL games. A player who bets on a game involving his team now faces a minimum suspension of two years. That doubles the prior minimum suspension.

Ultimately, each suspension is determined by the league. And even though the NFL works with the NFL Players Association on these issues, the league has full and final control over the policy, in all respects.

Players remain free to wager on non-NFL sporting events while not at work. This continues to raise the question of how it’s not an affront to the integrity of the game to place a bet on the sidewalks outside the team facility but becomes one once the player walks through the front door.

Also, there is no indication that the NFL has softened the rules for non-players. Currently, any non-player who bets on any sport faces extreme punishment, up to and including termination.

Compliance Updates

eCOGRA Authorized to Offer Certification Services in Brazil

Published

on

 

eCOGRA, the Internationally renowned Independent Testing Laboratory, has been officially authorized by the Secretaria De Prêmios e Apostas (SPA) to operate as a certifying entity for betting systems, live gaming studios, and online games in Brazil. This announcement marks a significant milestone as eCOGRA continues to extend its international offering of iGaming testing, inspection, and certification (TIC) services in regulated markets across the globe.

The announcement comes two months to the day after eCOGRA received approval to operate as a Certification Laboratory in Peru. The organization now operates in 39 online gambling jurisdictions, including Buenos Aires City and Province, Peru, Mendoza, Colombia, and Brazil in South America.

Since its establishment in 2003, eCOGRA has been at the forefront of online gambling certification, providing assurance on fairness and safety to players while offering the highest standards in TIC services to industry operators and software providers seeking to comply with regulatory requirements. The approval to operate in Brazil reflects both the trust eCOGRA has built in the international iGaming community and the quality of its certification services.

Bradley Khoury, Chief Technical Officer of eCOGRA, said: “We are thrilled to bring over two decades of expertise in online gambling certification to the vibrant market of Brazil. This approval from the Secretaria De Prêmios e Apostas (SPA) of the Brazilian Ministry of Finance is not only a testament to our unwavering commitment to the highest standards of competence and quality but also marks an exciting new chapter for eCOGRA. We look forward to working closely with Brazilian operators and interested parties to ensure a safe and fair gaming environment for all players.”

The new Brazilian regulatory framework aims to effectively safeguard player interests and enhance the integrity of online gambling operations within the country.

“Brazil offers a dynamic and rapidly growing market, and we are excited to contribute to its development. Our goal is to ensure that Brazilian players have access to certified iGaming experiences, akin to what has successfully been implemented in other highly regulated jurisdictions,” Khoury added.

Operators and software developers offering in the federal Brazilian jurisdiction seeking to comply with the laws and regulations by undergoing testing, inspection, and certification can now turn to eCOGRA for their renowned services, assured of their commitment to quality, impartiality, and fairness.

Continue Reading

Compliance Updates

IGT and Acres to Resolve All Pending Litigation

Published

on

 

International Game Technology (IGT) and Acres 4.0, Acres Manufacturing Company, and John Acres (Acres) announced that effective April 12, 2024, they have reached an agreement to resolve all legal disputes between the two companies. Terms of the settlement have not been announced.

The resolution was reached in the US District Court of Nevada, directed to US patents that pertain to facilitating use of a financial transaction device in a cashless wagering system in a gaming system, and Nevada State Court directed to a breach of contract claims.

“IGT is pleased to reach a mutual agreement with Acres that resolves all disputes between us. This allows us to dedicate our collective resources where they are better served, driving continued innovation in the exciting and evolving cashless gaming space,” said Nick Khin, IGT COO Gaming.

“We are thrilled to put this matter behind us and work cooperatively with IGT to build exciting new gambling experiences that can increase both player enjoyment and casino profits,” John Acres, CEO of Acres, said.

Continue Reading

Compliance Updates

$4.3 Billion Wagered Illegally During March Madness, Fueled by Social Media Influence

Published

on

 

Latest analysis by online marketplace intelligence specialists, YieldSec, commissioned by the Campaign for Fairer Gambling (CFG), has revealed a stark contrast between legal and illegal online gambling activities during the 2024 NCAA Men’s & Women’s March Madness Basketball Tournaments in the US. YieldSec’s monitoring unveiled an overwhelming majority of betting-related social media posts and video content, reaching up to 73% and 78% respectively, directing audiences toward illegal betting and gambling operators.

YieldSec’s findings shed light on the strength of the illegal gambling grip on the American marketplace, with 378 illegal sports betting operators and 651 illicit affiliates aggressively targeting US March Madness audiences and claiming 64% of the total market share, generating $4.3 billion in illegal and untaxed wagering. The remaining $2.4 billion wagered legally amounts to just 36% of the total market share.

These statistics underscore the challenges in controlling the proliferation of unlicensed gambling operators that have historically capitalized on the fragmented legal landscape of online betting in the US.

Key findings for March Madness 2024:

  1. Illegal gambling on March Madness comprised 64% of US online marketplace wagering ($4.3 billion Handle).
  2. Total value of March Madness betting (legal and illegal) amounts to a handle of $6.7bn.
  3. 378 illegal sports betting operators actively targeted the US.
  4. 651 affiliates promoted illegal sports betting operators that actively targeted the US.
  5. Illegals dominated social media content with up to 73% of all social posts in favor of illegal operators.
  6. 78% of all video content that linked to March Madness betting was linked to illegal operators.

Derek Webb, Founder of CFG, said: “This Yield Sec special report illustrates the dire need for a comprehensive strategy to tackle illegal gambling in the US. The lack of a united government approach and lax oversight by states have only compounded the problem, enabling entities with dubious backgrounds to operate freely. It’s high time for U.S. leadership to spearhead a unified solution to this pervasive issue.”

Ismail Vali, Founder and CEO of YieldSec, said: “The overwhelming presence of illegal gambling during one of the biggest sports betting events of the year is a clear signal that enforcement and monitoring need to be prioritized. Our findings are a call to action for stakeholders across the board to intensify efforts in combating the spread of unlicensed gambling operations that exploit the online marketplace. With the dominance of illegals across our social media channels, it’s clear that the threats to American commerce, community and consumers are a lot closer to home than ever imagined.”

The Campaign for Fairer Gambling is now advocating for a cohesive governmental response to illegal gambling, urging the Department of Justice, Treasury, Federal Trade Commission, and the Trade Representative’s Office to consider the findings of the YieldSec report as a basis for developing effective countermeasures.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.