Weekend Report: Brazil names betting chief, Bet365 fined in NJ
New secretary of sports betting named in Brazil
In this week’s Weekend Report, Giovanni Rocco Neto, previously a counsellor in Brazil’s ministry of sport, will oversee the promulgation of rules and wagering launch in Brazil, reports Insider Sport. Legal, live sports betting is set to launch in January and 114 operators have applied for licences. Neto will report to sports minister André Fufuca and will be independent of the secretariat of prizes and betting. His new title is national secretary of sports betting for the economic development of sport.
In his last role, he was the chair of the committee of integrity, rights and duties in betting and gaming.
NJ regulator fines Bet365
The New Jersey Department of Gaming Enforcement (DGE) last week fined UK-based Bet365 $33,000. The DGE said the operator, which is live in seven US states, took bets on games of which the outcome was already known and other unapproved markets, according to the Associated Press.
Among the violations was Bet365 taking wagers on a mixed martial arts event that had been completed, but was re-aired. It was the second time in two months that the DGE flagged Bet365 for a violation. In August, it required the operator to return $519,000 in bets to customers who were underpaid.
Jefferies: L&W on a growth trajectory
Jefferies analysts met with Light & Wonder (L&W) executives last week and reported “double-digit EBITDA growth is becoming increasingly comfortable in the near term”. Analysts pointed to a successful rollout of the company’s Dragon Train slot machine in the US and plans to continue that roll-out internationally. L&W is also working on new iterations of its Huff and Puff and Dracula games, which should add to US growth.
Brazil ex-finance ministry advisor calls for betting limits on welfare recipients
José Francisco Manssur, former special advisor to Brazil’s ministry of finance, has called for those receiving social welfare on the ‘Bolsa Familia’ programme to have mandatory betting limits.
Manssur played a big role in Brazil’s journey to gambling regulation before departing from his position in February having, he said, “fulfilled his mission”.
Now a partner at law firm CSMV Advogados, Manssur told Exame that betting limits for those benefitting from Bolsa Familia will protect Brazil’s poorest from further financial harm.
“It is not difficult to cross-reference these people’s data and it may be the case to create a limitation to protect these people, given their socioeconomic profile,” Manssur explained.
Austrian trade body calls for gambling regulation reform
Austria’s Association for Betting and Gambling (OVWG) has called for a reform of the country’s gambling regulation. The letter is in response to a recent Supreme Court ruling that ordered an Austrian player to return part of their winnings to an unlicensed operator.
The OVWG insists the case shows “clear weaknesses” in the current gambling laws. Currently, the Austrian gambling market is a monopoly with Casinos Austria’s Win2Day the only licensed online casino operator. The case related to a Malta operator providing online services illegally in Austria and ultimately the player was ordered to pay for the company’s legal fees.
“This ruling makes it clear that there is an urgent need for action on the part of politicians. Clear framework conditions must be created for all those involved,” Claus Retschitzegger, the OVWG president, said in the letter.
YouGov survey: UK politicians should be banned from political betting
A new survey by YouGov and gambling affiliate OLBG (Online Betting Guide) revealed three-quarters of the UK public believe politicians should be banned from betting on politics following an investigation into several reports of insider betting before the July general election.
Similarly, 60% of the 2,273 sample want politicians to publicly disclose their gambling activity, to avoid further scandals in future. Elsewhere, 60% of respondents aged 18-24 want the government to be do more to reduce gambling-related harm.