Italy Moves to Regulate Virtual Sports Betting
Italian gaming regulators have approved a number of measures aimed at opening, and regulating, virtual sports betting markets.
The measures come from the Agenzia delle Dogane e dei Monopoli (Customs and Monopolies Agency), which will be in charge of issuing licenses to virtual sports operators. Licensees will be required to submit their products for testing and will be limited to just 500 events per day.
It’s expected that Inspired Gaming Group (IGG) will be the first in line to grab one of the new licenses. IGG already has a lock on as much as 90% of the Italian sports betting market and has secured distribution deals with several Italian gaming firms.
Italian gaming regulators have been very busy over the past few months as they attempt to liberalize the .it gambling domain. Last year they allowed a major expansion of bingo games, as well as the legalization of online slots.
The virtual sports betting measures include language that limits the initial roll-out to a 12-month trial period. After the initial trial period regulators can revisit and reevaluate it if they’re so inclined.
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