North Carolina, Vermont, and Rhode Island are some of the US states that have made notable progress with regulations regarding online gaming and sports betting. Unfortunately, Texas will have to wait until the next legislative session for legalization to be discussed.
The sixth month of the year saw Puerto Rico welcoming BetMGM-powered interactive sportsbook on June 8, 2023, as the first operator to go online more than a year after the launch of retail operations. Singapore plans to close its racecourse, while Finland is working on replacing its monopoly system with a commercial multi-licensed system.
Overview of Key Regulations United States-Wide
California: According to the Bill 341 approved by the Senate and signed by Governor Gavin Newsom, a 20-year moratorium is imposed on new cardrooms opening in the state. On the other hand, the existing venues with less than 20 gaming tables still have permission to add 10 new tables over the said period. Other cardrooms are allowed to add two new tables in the first year and two more every 4 years hence.
Connecticut: Rush Street Interactive terminated its agreement with the local State Lottery, meaning it will no longer offer retail and online sports betting to local players.
Kentucky: If everything goes as planned, the state will have its sports betting market up and running in time for the start of the NFL season, which begins on September 7, 2023.
Maryland: The state welcomed Fanatics’ online sportsbook on June 1, 2023.
North Carolina: As Governor Roy Cooper signed bill HB347 into law, the state will launch a commercial sports betting market in January next year. 8 retail operators at the state’s 8 professional sports venues and 12 online operators will be granted the approval to run commercial retail and online sports wagering at the tax rate of 18% on the gross win.
Rhode Island: The state joined the ranks of territories where online gambling is to become legal, as Governor Dan McKee signed S948 into law. This deal greenlights Bally to offer online table games and slots at tax rates of 15.5% and 61% of gross win respectively. The launch is expected in April 2024.
Tennessee: Starting July 1, 2023, the state will have new, significantly decreased taxes on sports betting. The bill imposed a 1.85% tax on the handle instead of the previous 20% tax on the gross win.
Texas: Online sports betting won’t be coming to the state in this legislative session, as the Bill HB1942, did not have the necessary support to pass and be forwarded to the Senate for vote.
Vermont: As the sports wagering bill HB127 was signed into law, the state could roll out the market in January next year. According to the bill, which defines a tax rate of a minimum of 20% of the gross win, two to six online betting providers will be selected via the competitive bidding process.
South America Highlights
Brazil: The Rio de Janeiro State Lottery became the first licensed operator in the country, with Rede Loto receiving a 5-year license. In addition to a fixed fee of R$5 million, the company would have to pay 5% of GGR per month.
Moreover, bill 2895/2023 presented by Deputy Jonas Donizette would enable sports betting companies to register in Brazil without special permission from the Ministry of Finance. The interested companies would only be required to abide by Brazilian laws and establish a headquarters in Brazil.
Also, The Minas Gerais State Lottery signed a 20-year contract with IGT and Scientific Games, thanks to which the companies are greenlighted to offer their instant and draw game products to locals.
Chile: The online gambling bill 035/2022 created by the Economic Commission of the Chamber of Deputies includes a VAT on operators. As a small reminder, the Commission presented the bill more than a year ago, in March 2022, but had it approved in the ongoing month.
Updates from Europe
Austria: Starting July 10, 2023, the minimum age requirement for purchasing lottery products is 18 instead of 16. This measure was instructed by the Austrian Lotteries.
Finland: Wanting to give players more diversified options, the Government is exploring the possibilities of introducing a commercial multi-licensed system, instead of the current monopoly system. It is expected that the monopoly operators will be replaced with commercially licensed online gaming and betting providers until 2026.
France: If Bill 1248 is signed into law, the country could launch a commercial online casino market. There’s one important condition, though. A 5-year moratorium would allow land-based operators to run business in the country, but starting January 1, 2030, the market would be permitted to welcome international, online-only, suppliers as well.
Switzerland: The local gambling regulators ESBK and Gespa keep putting efforts to maintain the market safe and well-protected by including 200 more new domains to their blacklist of unlicensed gambling websites.
The Netherlands: The local Government is considering the option of privatizing Nederlandse Loterij, believing that this move would give the company the opportunity to incorporate innovations into its products and expand its portfolio.
What’s New in Asia’s Gambling Market?
Malaysia: The Government is revising the current land-based and online gambling regulations, aiming to find a way to incorporate some significant changes into them.
Singapore: Following the Singapore Gold Cup which will be held on October 5, 2024, Singapore Turf Club would close the Singapore Racecourse. As explained, the decision was made because the Club was requested to return the land the Racecourse is located on.
Taiwan: Intralot will continue to manage the lottery’s system technology as it signed the new contract with the Public Welfare Lottery. The company has been present in the country since 2007.
Source:
H2 Gambling Capital, June 2023
The post Regulations in Online and Land-Based Gambling Industries- June 2023 Highlights first appeared on RealMoneyAction.com.
