Scrutiny Mounts over Australian Regulator’s Ties to Betting Industry

Scrutiny Mounts over Australian Regulator’s Ties to Betting Industry Summary Australia’s Northern Territory Racing and Wagering Commission (NTRWC), which licences more than 40 online bookmakers and acts as a de facto national online wagering regulator, is under intense scrutiny after an ABC Four Corners investigation revealed possible conflicts of interest and lax oversight. Commissioners have […]

Read More →

MGCB: Participation in Prediction Markets Will Carry Risks for Licensees

MGCB: Participation in Prediction Markets Will Carry Risks for Licensees Summary The Michigan Gaming Control Board (MGCB) has warned that gambling operators and associated parties who engage with prediction markets could face licence implications, including revocation. The MGCB says prediction markets — event-based contracts often overseen by the CFTC — do not comply with Michigan […]

Read More →

Michigan joins states warning sportsbooks against prediction markets

Michigan joins states warning sportsbooks against prediction markets Summary The Michigan Gaming Control Board (MGCB) has sent a memo to licensed sportsbooks warning that offering sports event contracts — commonly called prediction markets — could put their licence at risk. The move follows similar actions by other state regulators, including cease-and-desist letters and lawsuits from […]

Read More →

Norsk Tipping innovation priority led to lottery failings, audit report finds

Norsk Tipping innovation priority led to lottery failings, audit report finds Summary PwC’s audit of Norsk Tipping finds the operator prioritised innovation and new development over quality, control and maintenance, leaving weaknesses in its control framework and unclear leadership. Those failings contributed to multiple recent lottery errors that have resulted in large regulatory penalties and […]

Read More →

Gambling Commission flags over-reliance on financial threshold in operator AML measures

Gambling Commission flags over-reliance on financial threshold in operator AML measures Summary Great Britain’s Gambling Commission has warned that some operators rely too heavily on financial thresholds when activating anti-money laundering (AML) and counter-terrorist financing (CTF) checks. A Commission bulletin (3 October) highlighted that risk-based customer due diligence is often only triggered once players hit […]

Read More →

PointsBet reshuffles board following acquisition by MIXI

PointsBet reshuffles board following acquisition by MIXI Summary PointsBet has formally reconstituted its board after MIXI Australia (a wholly owned subsidiary of Tokyo-based MIXI, Inc.) completed a successful takeover. MIXI now holds 66.43% voting power following its off-market offer which closed on 12 September. Three MIXI executives — Sho Okuyama, Kanji Kobayashi and Taishi Oba […]

Read More →