Spain to add slots and exchange betting to regulated online products22nd April 2013 7:55 am GMT
Spain’s national gambling regulator Dirección General de Ordenación del Juego (DGOJ) has announced that it will begin the process of regulating betting exchanges and online slots following the completion of a consultation process.
Last year the DGOJ sought information and opinions on online slots and betting exchanges from a broad range of stakeholders including operators, consumer associations, addiction prevention organisations and problem gambling experts.
The DGOJ says it has now studied and analysed the various arguments and decided that it would be appropriate to first regulate betting exchanges before the introduction of online slots.
The regulator said the development of regulations for these types of gaming would reinforce the fight against illegal gambling operators currently serving the Spanish market.
In addition, regulation will result in the better application of laws with respect to the fight against money laundering, the integrity of events, the protection of users, as well as responsible gaming measures.
Spain’s national gaming legislation, which came into force last year, allowed for betting exchanges, however the regulations were never drawn up to allow the product to be launched. The addition of online slots to the portfolio of authorised games was also previously anticipated.
The regulator will now being the process to regulate both products, beginning with the development of a draft Ministerial Order on the legislative impact of the changes. This will be followed by a meeting of the bilateral committees Generalitat-State and Junta de Andalucía-State, and approvals from ministries of state MINHAP (Ministry of Finance and Public Administrations). Final approval will be given in the form of a Ministerial Order.