According to the world of gaming, it seems like the biggest threat to the world of gambling, including online bingo, is regulation. Which is why many of the industry’s top operators will be signing up the the 4th Annual Legal Gaming in Europe Conference to discuss the gambling industries biggest obstacle to growth – rules and regulations.
Perhaps the most pertinent recent example has been the furore in the land based bingo world regarding the hike in taxation from 15% to 22% by the Government, a move which many across the gaming industry have been critical of as bingo is considered one of the most softest forms of gaming around. But it wont be all about offline bingo – the world of online bingo, as it gets bigger and bigger, will be subject to increasing regulatory change that will be high on many operators priorities. The event is proving to be very timely as gambling regulation is still hot on the agenda for operators, and not just in the world of bingo.
“The big issue for the industry is regulation. Regulation, and in particular the recent ECJ verdict against Bwin, is the big thing facing us. It is the one thing that could change the industry altogether on the European side” said Gigi Levy, CEO of 888holdings, which has many interests in all aspects of gaming including the hugely successful 888Ladies online bingo site.
Despite gaming being one of the least badly hit sectors, many are arguing that regulation is key to stifling growth in the industry, and as result, many companies are looking to see how to work within the limits of current legislation to get the best they can possibly get.
The industry has also seen a rise in the number of cases referred to the ECJ, and European Legislation was a huge factor in the recent landmark case win between Her Majesty’s Revenue and Customs and the Rank Group, who operate Mecca Bingo. And Ladbrokes has also benefitted from European law, with the company, who own Ladbrokes Bingo, winning recent cases regarding trademark infringements with rival companies Svenska Spel and Danska Spil
Ben Satchwell, Conference Director at Bullet Business who are staging the event said “The European Commission appears not to be interested in regulating the European Gambling industry. This has left a void that each country is looking to fill by implementing their own regulations. Now we are seeing jurisdictions left with problems in establishing which is the correct licensing model to adopt, taxation system to implement, ensure commitment to responsible gaming etc.”
He added “Operators are also realising that it is not only the regulation they have to consider but you also have cultural challenges to face across the various European countries they currently operate in. It is safe to safe the legal environment is still one of the largest challenges preventing the gambling from fulfilling its promise.” And as the world of online bingo grows, it seems many sites will be keen to exploit all opportunities within Europe and beyond. We’ll certainly be keeping you updated on the insider info on this one as trust us, this could have big big implications for your bingo bonuses in the future!
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