The Major Changes in Gambling Laws Around the World in 2018
The gambling industry, online and land-based, is an ever-changing one, with new regulations and laws, new markets opening, and others closing. 2018 was an eventful year when it comes to the gambling world, and things happened that changed the core of that sector around the globe. For example, Macau continues its steady growth, the USA loosened its laws and grips on sports wagering, with European countries have stricter advertising laws, and the UK cutting down FOBTs.
The United Kingdom’s Crackdown on FOBTs
This issue has been in the making for a long time, and the politicians and the press found plenty of chances so they can join the crackdown on the FOBTs. The Fixed Odds Betting Terminals have been going through a fight that will determine their survival, and while they lost that fight, they will still be able to operate next year. On the other hand, the maximum wagers allowed will witness a decrease from £100 to only £2. The final ruling is that the new cut-down will become active in April of 2019. A lot of party groups are referring to this ruling as a success, but only time will tell how much this new legislation is going to help with gambling addiction. The reason behind that is that online gambling is prevalent and its lure is stronger than the shops at the high-street.
That is not all from the UK, as the IGRG, which includes many gambling operators, agreed on a voluntary advertisement ban, from whistle-to-whistle, during live sporting events.
Italy Bans All forms of Gambling Advertisements
Italy had its stance when it comes to gambling ads, as it issued a blanket ban on all kinds of gambling ads in 2018, and this includes online. Leo Vegas’ Managing Director in Italy, Niklas Lindahl, stated that this new law is insane and it is completely against the EU’s recommendation.
The PASPA Repealed in the USA
There have been a lot of discussions, which began in 2017, regarding the PASPA (Professional and Amateur Sports Protection Act). The US finally repealed that act, which as a result, gave each state the right to decide its stance regarding the legalization of sports betting. Following the PASPA Repeal, seven US States launched their own regulated sports betting sectors, with many more expected to follow that in 2019, especially after seeing the results of these seven states.
For example, in November only, Delaware witnessed an increase in revenues from sports betting from $500k in October to $1.3m. As for the state of Pennsylvania, it managed to get a gross revenue of almost $500,000.
Sweden – The New Emerging EU Market
Sweden is one of the latest European markets to announce the legislation of its online gambling market. The Swedish regulator, Lotteriinspektionen, has been awarding licenses to gambling operators before the launch of the new market in January 2019. The list of licensed operators includes 888, Betfair, Betway and Cherry casino.
Macau’s Market continues its Growth
Macau, as well as other markets, are growing and emerging. Although the GDB growth of Macau dropped in the 2nd half of last year, its gambling hub witnessed its 28th consecutive month of growth last November. The MGICB announced that the casino revenue reached $3.1 billion for November, which is a nine percent increase from the same month of 2017. The market in Brazil is also taking huge steps forward as the nation is close to legalizing sports betting.