Compliance Updates

Mississippi House passes bill to legalize online sports betting; measure moves to Senate

Published

10 months ago

February 2, 2024

The Mississippi House passed a bill Thursday that would legalize online sports betting, bringing the state one step closer to joining 29 other states that already allow the practice.

The Mississippi Mobile Sports Wagering Act, which would legalize mobile sports betting while requiring gambling companies to contract with brick-and-mortar gambling establishments, passed 97-14 after a brief debate on the House floor. Sports wagering has been legal in the state for years, but online betting has remained illegal amid fears the move could harm the bottom line of the state’s casinos.

Republican Rep. Casey Eure of Saucier, the bill’s prime sponsor, said the state could bring in $25-35 million a year in tax revenue, based on state Gaming Commission estimates. Mississippi is missing out on that money as it houses one of the nation’s most active black markets.
Across the U.S. each year, illegal betting sites see about $64 billion in wagers, Eure said. Mississippi makes up 5% of that market, which is about $3 billion in illegal bets.

After advancing the bill out of a House committee on Tuesday, lawmakers approved an amendment Eure introduced on the floor that would change where the revenue goes. The first version of the bill levied a 12% tax on sports wagers, sending 4% to the localities where a casino is located and 8% to the state. The amended version lawmakers passed Thursday would direct all 12% to a state fund for emergency road and bridge repairs.

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If the Mississippi law passes, online gaming platforms would have to reach an agreement with licensed gambling establishments to establish an online sports betting presence in the state.

House Democratic Leader Robert Johnson of Natchez raised concerns that gambling platforms would have no incentive to partner with smaller casinos, and most of the money would instead flow to the Mississippi Gulf Coast’s already bustling casinos. He proposed an amendment that would guarantee licensed gaming establishments would absorb some of the revenue from bets placed near their facilities.

“The only people making money are the two people that have a contract,” Johnson said. “The money from the platforms, you bet in Mississippi it doesn’t go to every casino in Mississippi. It goes to the casino that you have a contract with.”

Republicans tabled the amendment, but Johnson voted for the bill anyway. He called the potential legalization of mobile sports betting “inevitable.”

Mississippi House members acted on the same day Georgia senators passed a bill to allow sports gambling. Nationwide, 38 states allow sports betting. Some states allow only in-person bets, although most allow electronic betting from anywhere.

The Mississippi bill now heads to the state Senate for consideration.
Michael Goldberg is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow him at @mikergoldberg.

Source: CDC Gaming

Compliance Updates

BGaming awarded Peru supplier licence

Published

5 days ago

November 28, 2024

George Miller

Popular iGaming content provider BGaming has secured a highly sought-after licence in Peru, marking a significant milestone in its expansion across LatAm.

BGaming’s technical system of gaming software and its engaging portfolio have been officially approved by the gambling regulator Mincetur, a national administrative authority which implements and oversees all aspects of online gaming and sports betting in Peru. By receiving the B2B certification, BGaming broadens its appeal with local licenced operators in the newly regulated market.

The licence also opens up more opportunities for BGaming to expand its business and strengthen its position in the wider LatAm region, where it has enjoyed significant attention in the last 12 months.

Marina Ostrovtsova, CEO at BGaming, said: “Securing the Peru licence marks a pivotal moment in BGaming’s global expansion. This certification not only strengthens our presence in Latin America but also underscores our commitment to bringing high-quality, immersive gaming experiences to new audiences.

“We are excited about the opportunities this will unlock, both in terms of growth and the reception of our slots in this new market.”

BGaming is a fast-growing iGaming content provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 1,600+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 150+ products with HD graphics and a clear user interface for every device. The studio is also known for its brand exclusives created in partnerships with leading operators in the industry.

Compliance Updates

Superbet Becomes the First Regulated Bookmaker in Brazil

Published

5 days ago

November 28, 2024

Niji Narayan

Superbet Brasil, sponsor of São Paulo and Fluminense, has become the first betting house to pay the R$30 million (US$5.2m) concession required by the government to become a regulated company.

To be able to make the transaction, the “Bet” (as the operators are called in Brazil) had to meet all the requirements of the Ministry of Finance in the document evaluation phase.

The company is the first to go through this process. The platform was the second in the industry to request authorization to operate in Brazil. Betano was the first.

The arrival of Superbet, which has just completed one year, was subject to regulation. The company only does business in countries with defined rules for sports betting.

Superbet CEO Alexandre Fonseca said that the regulation of the so-called “Bets” in Brazil is a milestone for the development of the industry and for the country.

“A regulated market promotes legal and tax security for operations, increases revenue for the Union and offers greater protection to players. These are objectives shared by all serious operators in the sector,” he said.

Compliance Updates

New Jersey State Athletic Control Board Adopts Sports Betting Policy

Published

6 days ago

November 27, 2024

Niji Narayan

The New Jersey State Athletic Control Board (SACB) announced that it has recently adopted an updated sports betting policy for all licensees, officials, and employees.

Effective immediately, the policy prohibits unethical betting practices and reinforces the commitment to maintaining fairness and public trust in combative sports, including boxing, wrestling, extreme wrestling, kick boxing, and combative sports exhibitions, events, performances, and contests.

“With this action, we are safeguarding the integrity of combative sports events. By implementing these standards, we are sending a clear message that unethical behavior will not be tolerated in New Jersey’s combative sports industry,” said SACB Commissioner Larry Hazzard Sr.

The policy applies to board officials, such as inspectors, timekeepers, judges, referees, and physicians; board members, including the chairman; and board employees, such as the commissioner and deputy commissioner. Promoters, participants, and their agents are also encouraged to adopt integrity policies in line with these standards.

Key policy provisions include those related to betting restrictions, prohibited conduct, training, and enforcement, among others:

• Officials, members, and employees are prohibited from betting on any combative sports event, both within New Jersey and globally. Legal betting on non-combative sports is allowed, provided it complies with local laws. Board employees must register with the Division of Gaming Enforcement (DGE) before placing such bets in New Jersey.

• All forms of illegal betting, including through unauthorized platforms, are strictly prohibited.

• Prohibited conduct includes match fixing and acting on or spreading insider information.

• Board personnel are prohibited from working for sportsbooks or their affiliates.

• Promoters and participants, along with their agents and managers, must refrain from betting on combative sports events held in New Jersey or engaging in any actions that compromise the integrity of performances.

• All stakeholders, including board officials, members, employees, promotors, participants, agents, managers and seconds, are obligated to report any violations of this policy to the SACB Commissioner immediately.

• Board personnel are required to undergo training and acknowledge this policy.

• Violations may result in disciplinary actions, including fines, license suspensions, or revocation.