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Finns flock to work in Online Casinos in Malta

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It is quite well known that Malta is one of the most sought-after-places for online gambling. The reasons are not exactly rocket science. Friendly government regulations and favourable tax regimes are what attract gaming companies to this tiny island.

What is less known though is the number of Finnish citizens working in the gaming companies in Malta?   Apart from Finland, other European countries such as Sweden, Portugal, Slovenia and the Czech Republic do not allow any commercial online gambling operators and the government hold monopoly on the lottery and actual and virtual casinos. Some of the European countries, UK, Italy, Latvia, Luxembourg, Malta, Slovakia, and Estonia, have a fully or partly deregulated online gambling market.

Malta has over 300 companies in the gaming sector, employing around 12,000 people. Among those who have moved there are at least 400 Finns. Malta has thus been called “The Silicon Valley of Casinos.”

While only Veikkaus, PAF (Åland equivalent of Veikkaus) and Finntoto are allowed to offer online and offline gambling to the Finnish population, there are up to 100 international sites offering Finnish language gambling sites. Veikkaus and Paf also operate actual casinos and plenty of slot machines in Finland.

Finland’s slot machines for gambling situated in public places are exceptional for Western countries. As the cashier at a till hands over a coin as change, many Finns advance to the slot machine by the entrance in a routine-like manner to try their luck. In other Western countries, such a habit is very unordinary.

“In other countries gambling machines are usually situated in casinos, restaurants, and bars, whereas in Finland they are a part of people’s everyday life in shops, kiosks and petrol stations,” says development coordinator Tapio Jaakkola from Gambling Clinic (Peliklinikka), specialised in gambling addictions.

A valid argument offered by the government in regulated countries is preventing gambling addiction and the resulting financial crisis to individuals by limiting the amount people can gamble and on the other hand recycling the profits to the society for good causes. Veikkaus and PAF return the majority of their profit to culture, sports, research and other social causes. The third argument is the reliability of the gambling operator. Government-owned companies do not cheat.

Same could not be said about commercial online gambling sites and because of the vastly unregulated international market and difficulty of control, there is no guarantee that sites could be reliable. Several services such as Kantacasino.com have tried to solve this problem by star ranking and auditing online gaming sites based on reliability, the number of games available, offered bonuses, and user-friendliness of sites.

According to the Ministry of health of Finland, 2.7 per cent of Finns in the age group of 15–74 suffer from gambling problems at different levels. That is 110,000 Finns. Gambling problems are three times more common among men than women (men 4.7 per cent, women 1.6 per cent). The change of the age limit (K-18) in 2011 has significantly reduced gambling within the group of young males. Gambling among girls was rarer already before the amendment. There are several different sites offering help and information for people with gambling problems, such as Pluuri, Gametalk and Peli poikki.

Source: helsinkitimes.fi


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Record Loss for Russian Bookmakers In The World Cup Final

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Record Loss for Russian Bookmakers In The World Cup FinalReading Time: 1 minute

In the 2018 World Cup final, France defeated Croatia and won the world championship for the second time in its history. Deputy General Director for Trading BC “League of Stakes” Maxim Afanasyev said that the match was a record loss for Russian bookmakers.

“We recorded a record for the loss – 3.5 times more than at the Champions League final. They played all the outcomes, which were mostly put by the clients: the victory of France, the handicap (-1.5) for the French, both will score, goals in both halves, and, of course, all conceivable and inconceivable totals, ” said Mr. Afanasyev.

He also noted that the final match was probably the most record on payments in the entire bookmaker industry.

“The loss on the Russian market from one final match, according to my estimates, is about $ 100 million,” the expert believes.

In the final match of the 2018 World Cup, France defeated Croatia 4: 2.


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Roundtable discussion on Romania’s current gambling issues

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The Association of Distance Gambling Organizers (Asociația Organizatorilor de Jocuri de Noroc la Distanță) and Casino Inside offered an exciting event

 

The Association of Distance Gambling Organizers (Asociația Organizatorilor de Jocuri de Noroc la Distanță), a representative association of the largest and most respected authorized gambling operators in Romania, held the first working meeting last month in the Fortuna Hall of the Intercontinental Hotel, Bucharest dedicated to the latest developments in the countries gambling regulation.

The meeting was honored by the presence of several officials:

  1.    Liliana Kleininger, Vice-President of the Competition Council
  2. Daniel Staicu, President of ONPCSB
  3. Lilian Onescu, Secretary General ANAF
  4. Rodica Tuchilă, ARB Executive Director
  5. Mihăiţă Ruiu, Director of Authorization Division, ONJN
  6. Tudor Simota, Director of Control Department, ONJN
  7. Alexandru Enăchescu, Chief Commissioner, Economic Police
  8. Dana Cristina Matache, GDPR Expert, lawyer
  9. Iulian Matache, GDPR Expert, lawyer
  10. Monica Gubernat, Member of CNA
  11. Odeta Nestor, President of ADGO
  12. Dr. Sorin Constantinescu, gambling expert

The Roundtable discussion was a good opportunity for authorities, gaming operators and media outlets to be together and to discuss and share information, ideas and opinions about the latest and upcoming trends in the industry.

“There is a need for industry to continuously participate in debates and to support authorities in improving the regulatory framework,” said Odeta Nestor, ADGO President. “We are a success story at European level, and the effects are particularly good, reflected by players’ satisfaction and the contribution of the field to Romania’s economic development,” added Nestor.

Organized in partnership with CasinoInside, the event approached subjects such as:

  • Competition in the gambling industry
  • Problems encountered by gaming operators in relation to banking institutions in our country
  • Latest Tax Changes in Gambling
  • Draft Law on the Prevention and Combating of Money Laundering and Terrorist Financing on Transposition of
  • EU Directive 2015/849 into national legislation
  • The CNA Order on Gambling Advertising
  • Implementation of the General Data Protection Regulation.

In conclusion, the event organized in June at the initiative of the Association of Distance Gaming Organizers (ADGO) was a majir success and arose from the continued need of our gaming industry to discuss and debate the stringent issues of this moment and willingness to support state authorities to improve the current regulatory framework.

The gaming industry has reached a high level of transparency and regulation precisely because of this type of events.

 

Source: casinoinside.ro


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Northern Cyprus to remove casino gambling ban on residents

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Northern Cyprus authorities are planning to remove a long-standing ban on its Turkish Cypriots to engage casino gambling.

Discussions are believed to have been triggered by the recent opening of a casino in the Republic of Cyprus’ city of Limassol. According to media reports, Northern Cyprus officials have expressed concerns that Turkish Cypriots could feel tempted to cross the Green Line (the United Nations Buffer Zone that separates the two parts of the island of Cyprus) and visit the new gambling venue.

While it was only last month that the Republic of Cyprus opened its first legal casino, Northern Cyprus has long been home to flashy gambling facilities.

However, residents of the northern portion of the island are prohibited from visiting and gambling at the local casinos.

Hong Kong-listed gaming and hospitality giant Melco opened late last month its temporary casino in Limassol, while a larger integrated resort is under construction in the city. The facility features 242 slot machines and 33 gaming tables. Melco said yesterday that Cyprus Casinos or C2 as the property is branded welcomed more than 34,000 unique visitors during its first three weeks of operation to beat owners’ expectations.

According to reports from Turkish Cypriot news outlet Haberal Kibrisli, Northern Cyprus Finance Ministry Serdar Denktash has revealed that discussions over the potential lifting of the casino gambling ban have been taking place.

However, in a separate rollout of reports, Kudret Ozersay, Foreign Minister of the Republic of Northern Cyprus, has denied the move on social media. The official has pointed out that there were no such plans and that there was no need for such reports to be spread around.

Mr. Ozersay further explained that instead of offering residents of Northern Cyprus a free entry into casinos, the government should introduce stricter controls at the gambling venues and stricter license conditions as well as increased taxes.

Another local news outlet, Vatan, has cited the leader of the United Cyprus Party, Izzet Izcan, saying that Turkish Cypriots should not be encouraged to gamble at casinos and that the Prime Minister of the republic should clarify the ongoing debate.

Aside from its temporary casino in Limassol, Melco is also set to open four satellite facilities across the Republic of Cyprus, with the first two of these likely to be launched by the end of the year.

 

Source: casinonewsdaily.com


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