Irish Minister of State David Stanton has announced that the new regulator of the gambling industry will be established in 18 months. Apart from that, the country prepares a new regulatory framework for casinos sphere.
Currently, the officials revise the country’s Gambling Control Bill which was published in 2013. The aim of new changes is to include the recommendations from the Inter-Departmental Working Group’s report. They include the establishment of a regulatory authority and updated licensing policies taking into account the technological advances.
Moreover, the country plans to regulate the industry advertising and sports events manipulations, as well as prevent money laundering. The problem gambling will be addressed by the government as well. In order to deal with all issues, the regulator will contain several units: sports integrity, anti-money laundering, consumer protection, and licence applications.
The regulatory body will be self-financing, meaning that the income from license applications, fees and fines will cover the investments in its development.
According to Stanton, adopting new Irish recommendations and rules will help its gambling industry to meet progressing and developing demands of the sphere.
While the new regulations are being developed, the country has introduced the Gaming and Lotteries (Amendment) Bill this year. It sets the maximum gaming machine stakes and prizes at €10 and €750, and imposes an 18+ age restriction.
