As per forecasts by industrial insiders, the Republic’s nascent betting regulatory body will likely begin supervising betting companies in the middle of the forthcoming year. President Micheal D Higgins has recently brought into effect the Gambling Regulation Act, redefining licensing procedures and setting up a fresh body to manage betting companies. This new entity is expected to commence operations around the middle of the next year, a crucial point for numerous businesses that’ll need to renew their online betting licenses by then.
To get the new regulatory body, the Gambling Regulatory Authority of Ireland, up and running a few steps need to be achieved by the government, including the recruitment of seven members the agency needs.
The Justice Minister, Helen McEntee, has named top-ranking bureaucrat Anne Marie Caulfield as the prospective CEO of this body in the summer of 2022. Her department comprises 11 personnel. As per the Justice Department, the public appointment service of the state will initiate recruitment for the seven members of the body soon.
The Minister will name the candidates suggested by the service. Although the department couldn’t confirm a date to begin the regulatory operations, they assured it would commence gradually following the establishment of the body, in a “timely manner”.
In this month’s budget, the Finance Minister, Jack Chambers, allocated €9.1 million for next year, out of which €4 million is meant for technological upgrading.
Ms Caulfield confirmed to industry bodies last week via a letter that her organisation would begin work in stages. However, she pointed out that most preliminary preparations were already completed. She pledged in her statement that the authority would keep the industry fully updated to prepare for the new regulatory structure.
Recently, an advertisement seeking a person to oversee the authority’s social fund was put out by the Public Service Appointments Service. According to the new law, betting companies will contribute to this fund which will be employed by the authority to address problem gambling. Businesses see the establishment of this fund as one of the vital steps towards setting up the new regime.
Authorities are making it compulsory for all gambling organisations in the Republic to acquire a licence, and it is unlawful to operate without the correct permit. Existing permit holders can continue their operations until the implementation of licensing parts of the act, according to solicitors at Arthur Cox. The continuance of current high street and online betting shop licences, however, will depend on how the regulatory body designs the new system.
Gambling establishments are eager for the creation of a nationwide self-exclusion register. This will enable customers who willingly request not to place bets or feel they are at high risk, to exclude themselves voluntarily. Each bookmaker currently implements this system individually, and they cannot share this data elsewhere.
The new legislation, however, brings into place a national register; this allows individuals who exclude themselves with one licenced organisation to exclude themselves from all licensed establishments. The Irish Bookmakers’ Association expressed positive sentiments about the potential of working with Ms Caulfield and the emerging authority.