1 / 17

11 July 2016

Challenges facing Gambling regulation globally. GRAF CONFERENCE – 2016 MöVENPICK HOTEL – ACCRA, GHANA. 11 July 2016. Advancements in Gambling Technology. Keeping up with technology. Old technology solutions holding back the gambling industry.

albert
Download Presentation

11 July 2016

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Challenges facing Gambling regulation globally GRAF CONFERENCE – 2016 MöVENPICK HOTEL – ACCRA, GHANA • 11 July 2016

  2. Advancements in Gambling Technology • Keeping up with technology. • Old technology solutions holding back the gambling industry. • Lack of regulatory flexibility, discourages the industry from investing in and embracing the latest technology available, or • May contribute to the growth of illegal gambling markets • Millennials (future customers) live inside technology – anything internet?

  3. Regulator’s marching orders • Regulatory objectives aligned to government policies? • Consumer protection? • Keeping crime out? • Fairness of games? • Suitability issues? • Taxes? • Value adding? (are we enabling the industry to thrive?) • Effective Regulatory System – how to?

  4. Uncertainties facing the industry • Gaming vs Gambling: Blurring the lines • Adequacy of current gambling laws? • Where does the social element stop and the gambling begin? • With the lines being blurred ever more, is the notion of gambling in the traditional sense changing too? • Adoption of social gaming by millennials? • Is social gambling helping to reduce the “stigma” of gambling and if you sit at your computer for 12 hours, are you a gambler in disguise?

  5. Uncertainties facing the industry (cont.) • Social Gaming & Regulation: • No real link between gamers and cash gamblers. • Social gaming may appeal to gamblers who cannot access legal gambling opportunities. • .…and may be creating a hidden generation of problem gamblers. `

  6. Uncertainties facing the industry (cont.) • Bitcoins: • A new payment system (digital money)? • Can we wish it away or must we adopt it - & how to? • Growth in iGaming creates opportunities for it, but can we counter this revolution? • Verification of source of funds and KYC?

  7. Uncertainties facing the industry (cont.) • Binary Options: • Based on Y/N position on the price of a financial asset, and the resulting payoff is all or nothing. • It uses the stock market as the Random Number Generator. • Bets based on whether or not, stock is going to go up or down in the next trade. • Is it gambling or financial trading? • Who must regulate it?

  8. Uncertainties facing the industry (cont.) • Internet Gambling • Acceptability of Internet Gambling? • Internet gambling by prohibited groups (teens etc) • Demography of Internet Gambling players • Problem gambling • Responsible Gambling practices • Millennials and Internet Gambling • Online vs offline (tradeoffs)

  9. Uncertainties facing the industry (cont.) • Fantasy Sports • Legality of Fantasy Sports? • Growing consumer protection concerns • Licensing scheme – the value chain? • What about KYC? • Fairness of games?

  10. Uncertainties facing the industry (cont.) eSports Legality of eSports? Is it gambling?... Or a skill game? Or professionalization of video gaming? Underage gamblers in eSports? Rumours of Drugs in eSports?

  11. Conclusions If punters can bet on it, they may try anything. Millennials think that if everyone else is participating, it must be legal or safe or both …… … so is Bitcoin, Internet Cafés, Fantasy sports, eSports etc. Millennials think that if the Internet says it is okay, then it is. All of these = a nightmare for Regulators. What is the recipe for effective regulation of these?

  12. Solution options to these challenges • Cooperation & Collaboration (IAGR’s mission): • IAGR is an independent, non-profit corporation and is working hard to represent the interest of gaming regulators around the world. • IAGR is the only global organisation for gaming regulators. • IAGR has attracted a record number of members and is today comprised of regulators from almost 70 jurisdictions that include Africa, Asia, Central America, Caribbean, South America, Europe and North America.

  13. Solution options to these challenges (cont.) • As a member of IAGR you can expect: • Invitation to the annual conference • Access to IAGR’s portal for members only • Access to IAGR’s knowledge sharing groups • IAGR’s workgroups (e-Gaming Stds, MJBF, MJTF) • A dedicated Board of Trustees • An organisation on the move

  14. Solution options to these challenges • Join IAGR: • Membership is open to government regulators and commissioners involved in regulating the gaming sector • Visit our website and complete IAGR membership application form • Membership categories • Jurisdictional Membership • Ordinary Membership

  15. Solution options to these challenges (cont.) • Regulators working together to raise standards, share learning & experiences and make sense of new developments in the gambling industry…. • After all, we share the key objectives of keeping crime out of gambling, ensuring fairness & openness, and minimizing harm… • No jurisdiction will succeed in getting their regime perfect – the value of cooperation is being able to share experiences – both good & bad…

  16. THANK YOU

  17. BHEKI MLAMBO IAGR President www.iagr.org Chief Executive Officer Mpumalanga Gambling Board www.mgb.org.za email: ceo@mgb.org.za

More Related