SPORTS BETTING
REGULATION
GIG POWERS BETWAY LAUNCH IN PORTUGAL
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SPORTS BETTING
The Sports Betting Alliance , comprising the leading betting and igaming operators in the US , has joined the opposition to sports betting ballot measures in California .
The proposal , which aims to give tribes exclusive rights over sports betting in the Golden State , is already fiercely opposed by the state ’ s leading tribes . The California Nations Indian Gaming Association warned Eagle1 Acquisitions Corp , the business behind the ballot measures , to drop the proposals in December .
This opposition influenced the SBA ’ s decision to disavow the measures and deny any financial support , especially in the wake of a costly and ultimately
REGULATION
Legal betting and igaming is coming to Brazil after President Luiz Inacio Lula da Silva signed Bill 3,626 / 2023 into law .
President Lula ’ s approval came after Brazil ’ s Chamber of Deputies voted on 21 December to endorse the bill , which now includes igaming .
Operators will be taxed at 12 % of gross gaming revenue , with the bulk of the total allocated to sports development , after paying R $ 30m for five-year licences covering up to three brands . Next up , the Ministry of Finance must publish regulatory guidelines
888 APPOINTS FORMER FLUTTER DIRECTOR AS NEW CPO
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SBA DISAVOWS CALIFORNIA BETTING BALLOT MEASURE
unsuccessful ballot battle in 2022 .
“ Without significant and widespread tribal support this initiative fails and sets back productive conversations for several years ,” SBA spokesperson Nathan Quick said . “ This initiative is constructed to prevent the market from reaching anything close to its potential to the detriment of all stakeholders .”
However , the petition was cleared to begin signature gathering in January , and requires 874,641 to make it onto November ’ s ballot . Following amendments in December , the market would launch from 1 July 2025 , with tribes required to deposit 15 % of sports betting GGR into a tribal wagering revenue sharing trust fund .
LULA RATIFIES BETTING AND IGAMING REGULATIONS
for operators . For a market worth an estimated € 4.37bn by 2028 , according to H2 Gambling Capital , enthusiasm is high – more than 130 businesses have expressed interest in a licence .
According to local legal expert Neil Montgomery , regulated sports betting and igaming has been almost two decades in the making .
“ I expect there to be an avalanche of foreign direct investment , and also M & A and joint venture activity , and most importantly , a bounty of legal work to do !”
PORTUGAL SETS € 215.3M ONLINE GAMBLING REVENUE RECORD IN Q3
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IN THEIR OWN WORDS ...
BILL HORNBUCKLE “ I didn ’ t grow up in a great environment in terms of economic profile . I was not the world ’ s best student . I can assure you my high school principal would not have thought me to be the most likely to succeed in the class .” p54
MIKE MORRISON “ As many famous people have said , pressure is a privilege . We absolutely feel that here .” p37
VICTORIA REED “ Above all , I know what it ’ s like to be supported but I also know what it ’ s like to be overlooked and exploited .” p101
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ICE LONDON 2024 • ISSUE 135 • 13