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May 27, 2019, GMT+0000, 14:29 pm
News Regulation

Gambling Industry Backs Irish Regulator

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The gambling industry in Ireland is backing the creation of a new independent gambling regulatory body, which will oversee all gambling licences in the country, according to the government. 

Speaking to the media earlier this week, Fine Gael MP and junior minister David Stanton said that industry had given the plans, outlined in the Gaming and Lotteries (Amendment) Bill had received the full backing of the Irish betting industry.  

The bill features a number of measures, including the creation of a new independent body to oversee and regulate licensing of gambling operators in Ireland, as part of the Government’s ongoing efforts to modernise the country’s gambling sector and to improve regulatory efficiency. The Bill also provides for the establishment of a new fund that will provide support and treatment for gambling addicts. The fund will be paid for by a levy on gambling companies operating in Ireland. 

The proposals outlined in the bill were the subject of discussion at this week’s Farmleigh seminar on licensing and regulation. Addressing the creation of the regulatory body, Stanton said that it would be created within the next 18 months. He also said that it would be fully independent of the government and that it would address regulatory compliance in a number of areas, including money laundering, problem gambling, research, licensing and enforcement. 

Employing up to 100 people with expertise in the field of gambling regulation, the new body would have responsibility for overseeing land-based and online gambling in Ireland and will also be charged with tackling match-fixing, gambling addiction and underage gambling. An eighteen-month time frame would mean the new regulatory body would be able to start work at the end of 2020, though this date has not yet been confirmed. 

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