FIFA Loot Boxes Acknowledged as Gambling in the Netherlands, Goa Casinos are Back: News of the Global Gambling Market
What political event has broken a record in betting volume on Betfair? On what conditions casinos in Goa will be operating again? What poker tournament has broken a prize pool record? Read about these and other news from the gambling industry in our weekly digest.
WSOP Online 2020 main event acknowledged as record-breaking for the amount of prize pool
Guinness Book of Records officially recognized the record of the World Series of Poker that took place in September 2020 at GGpokerok poker room. Tournament guarantee comprised $27 559 500, which has become the largest prize pool in online poker tournament ever.
Record has been registered and added to Guinness Book of Records.
In total, Main Event got 5802 registrations. The amount of buy-ins comprised $5000. Poker player from Bulgaria Stoyan Madanjiev managed to win this time, taking home $3,9 mn.
USA elections: a record-breaking betting event at Betfair
According to Betfair, punters have already placed more than $367 mn in bets on the result of USA presidential elections featuring Donald Trump and Joe Biden. It’s expected that total amount of bets on the event will reach $500 mn.
The 2020 USA presidential campaign generated more money in total bets amount than any other event over the last 20 years of Betfair operations, including the USA 2016 elections, Brexit referendum, and fight between Mayweather and McGregor.
Court in the Netherlands defines FIFA loot boxes as a gambling activity
The court ruled in favor of the state regulator – Kansspelautoriteit (KSA), acknowledging FIFA loot boxes as one of the forms of gambling. These virtual containers are the in-game objects allowing to get player cards for real money.
Publisher of the simulator Electronic Arts will have three weeks to delete loot boxes from the games on the territory of the Netherlands. In case of the fail to do so, the company would have to pay a fine of €500 000 for each week of the violation.
Thus, Electronic Arts didn’t agree with the decision and is going to file an appeal. The company is saying its products and services don’t violate the laws on gambling.
The Netherlands continues the work on elaborating of the legislative database for legalization of online gambling
Gambling regulator KSA amended the document with new paragraphs, indicating that online gambling activities will be legalized in the country. Thus, some of the licensing terms for the work of operators have been defined. Now, gambling companies will be able to learn about the market requirements to conduct business operations in the online segment.
Before the licensed conditions are officially published, regulatory authority is focusing on the technical economic evaluation of the operators. Checks are to be completed before the start of issuing licenses.
The law on legalization of online gambling will come into force in March 2021. According to the Head of KSA Rene Jansen, the regulator is now improving its internal resources to efficiently cope with the launch of the legal online gambling market in the country.
Goa relaunches casinos that have been closed due to COVID-19 pandemic
Since November 1, Indian state of Goa started accepting guests in floating and land-based casinos again. They have been out of work since March 2020 because of the lockdown.
Thus, gambling operators would have to comply with special requirements. The maximum amount of casino attendees shall be reduced twice. Venues shall comply with sanitary safety protocols that are designed for prevention of coronavirus spreading. In addition, owners of businesses will have to pay license fees.
Currently, six floating casinos and nine hotel gambling establishments operate in Goa.
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