Ireland's Gambling Regulator Begins Enforcement Era
Highlights
-
The Gambling Regulatory Authority of Ireland GRAIÂ is allowed to accept and process betting licence applications.
-
Reports from the Economic and Social Research Institute (ESRI) reveal the growing concern of problem gambling among adults.Â
Ireland’s Minister for Justice, Home Affairs and Migration, Jim O’Callaghan, has approved the Gambling Regulatory Authority of Ireland (GRAI) to oversee the licensing process now. As per the order, GRAI has been granted the right to issue betting licenses independently to new entrants starting from Thursday (5th February).
The license previously issued by the Office of the Revenue Commissioners will remain valid until 1st of July for remote operators and 1st of December for in-person operators, after which they must acquire a GRAI license to continue their legal operations.Â
Under this new act, GRAI can sue operators that fail to comply with the latest gambling laws, with fines up to €20 million ($23.6 million).Â
However, not everyone was in favour of this new system. Anthony Kaminskas, owner of AK Bets, has termed these amendments “extremely self-defeating.” He also warned of the negative implications of heavy taxes and advertising restrictions, driving players further to offshore sites.
The latest study from the Economic and Social Research Institute (ESRI) reflects the growing concerns of rising gambling addiction levels. The Statistics show approximately 1 in 30 adults is facing gambling addiction, which is roughly 10 times higher than in 2019.Â
For more details, Refer Here!
The license previously issued by the Office of the Revenue Commissioners will remain valid until 1st of July for remote operators and 1st of December for in-person operators, after which they must acquire a GRAI license to continue their legal operations.Â
Under this new act, GRAI can sue operators that fail to comply with the latest gambling laws, with fines up to €20 million ($23.6 million).Â
However, not everyone was in favour of this new system. Anthony Kaminskas, owner of AK Bets, has termed these amendments “extremely self-defeating.” He also warned of the negative implications of heavy taxes and advertising restrictions, driving players further to offshore sites.
The latest study from the Economic and Social Research Institute (ESRI) reflects the growing concerns of rising gambling addiction levels. The Statistics show approximately 1 in 30 adults is facing gambling addiction, which is roughly 10 times higher than in 2019.Â
For more details, Refer Here!
