The Gambling Law revised in Ireland
In our news we have been reporting more frequently on regulators in the online gambling market. For example, we recently mentioned the Swedish regulator which is considering restrictions on gambling advertising, or the Maltese Gaming regulator which withdrew the licenses of two providers. Today we are talking about the Irish Government, which wants to set up its own gambling regulatory authority with the ability to issue licenses and impose fines.
Financing through licensing fees, taxation and duty
Minister David Stanton has announced that the Irish government wants to update the legal provisions and licensing of online gambling. For this reason, the establishment of a separate regulatory authority is being considered. However, this requires resources and the government, therefore, wants this authority to be financed by licensing fees, taxation and duty.
A positive response
The future regulator will have the power to impose fines of up to €50,000 for violations of Irish law. The announcement of this new regulatory authority was generally well received by politicians and professionals, and the Irish Bookmakers Association announced that it hopes that the creation of the new regulator will be implemented as soon as possible.