Compliance Updates
KSA Imposes a Fine of €675,000 on NetX Betting Limited
Published
3 mins ago
on
October 30, 2024
Reading Time: < 1 minute
The Netherlands Gambling Authority (KSA) has imposed a fine of €675,000 on NetX Betting Limited for offering online gambling without the necessary permit. This is prohibited. NetX had previously been given a penalty payment order for the illegal offer.
NetX offered illegal online gambling on pferdewetten.de and betbird.com, in which Dutch players could also participate. No measures were taken to keep players from the Netherlands out. For this violation, the KSA now imposes a fine of €675,000, consisting of the basic fine of €600,000 with an aggravating circumstance.
Michel Groothuizen, chairman of the board of the KSA, said: “Dutch players need to be protected: that is why we are cracking down hard on illegal offers. We see that illegal providers often pay little attention to the player and do not adhere to a duty of care. Here, for example, we saw the practice that players who are inactive for a long time after creating an account are given a ‘fine’ by the provider. If they do not play for a certain period of time, an amount of €5 per month is charged. A player is then punished if he does not participate in the (illegal) games of chance offered. That of course goes beyond all bounds.”
Australia
Australia’s BetStop Receives International Regulatory Award
Published
9 mins ago
on
October 30, 2024
Reading Time: < 1 minute
The Australian Communications and Media Authority (ACMA) has been recognised with an international award for regulatory excellence for the launch of BetStop – the National Self-Exclusion Register.
The International Association of Gaming Regulators (IAGR) announced that the ACMA received the Regulatory Excellence Award at the 2024 global regulators conference, citing the complex delivery and regulatory challenges that were overcome to create Australia’s first centralised exclusion register.
ACMA Chair Nerida O’Loughlin praised ACMA staff who worked on the initiative and the success of the register in helping people make considered and supported decisions about their gambling.
“BetStop – the National Self-Exclusion Register represents a significant enhancement of consumer safeguards available to Australians who gamble,” Ms O’Loughlin said.
“The IAGR award for regulatory excellence is a recognition of the dedication and collaboration of ACMA staff in delivering this important safeguard, which has supported the more than 30,000 Australians registered to date.”
Figures released in August to mark the register’s first 12 months showed younger Australians embracing self-exclusion, with almost half of registrants aged 30 and under and around 80% aged 40 and under.
Latest News
BETBY WELCOMES MAGNUS CARLSEN AS GLOBAL BRAND AMBASSADOR
Published
12 mins ago
on
October 30, 2024
Reading Time: < 1 minute
Premium sports betting supplier BETBY has announced an exciting long-term partnership with Magnus Carlsen, the highest-rated chess player in history, currently ranked as the world’s best, and a recent recipient of the FIDE Greatest of All Time (G.O.A.T) award. This ground-breaking collaboration will bridge the worlds of chess and sports betting technology, underscoring BETBY’s commitment to strategic thinking, innovation, and excellence.
Carlsen, a five-time World Chess Champion and renowned sports enthusiast, is celebrated for his unmatched skill, ingenious play, and exceptional decision-making abilities. His deep analysis of situations and foresight aligns perfectly with BETBY’s vision of providing intelligent, cutting-edge sportsbook solutions which are future-proof.
Carlsen’s chess journey began at a young age, and by the age of 13, he became the youngest Grandmaster in the world at the time. Since securing the World Chess Champion title in 2013 and achieving the highest chess rating in history in 2014, the Norwegian prodigy has continued to dominate the chess world in classical, blitz, and rapid formats.
Leonid Pertsovskiy, Chief Executive Officer of BETBY, expressed his excitement: “We are absolutely thrilled to welcome an iconic figure like Magnus Carlsen to the BETBY family. His legacy in chess, alongside his passion for sports and mastery of decision-making, forward planning, and creativity, makes him the perfect global ambassador for our brand. As BETBY continues to lead the market with ground-breaking sports betting solutions, Magnus will represent our commitment to quality, innovation, and strategic excellence. We are excited and proud to collaborate with such a renowned sports icon.”
This partnership marks a bold new chapter for BETBY as the company continues to push the boundaries of sports betting technology and expand its global presence.
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