Betway, Bet365 ink prospective Argentina online partnerships

The Argentinian province of Buenos Aires recently implemented legislation to regulate online gambling in the country and the industry has already seen a healthy response. It now appears that two more companies are entering the market, hoping to use Argentina as a springboard for further expansion across the country, as well as the rest of South America. Betway and Bet365 have both set up joint ventures with local companies in order to get their feet wet and start their expansion journeys.

Betway, Bet365 ready to launch in ArgentinaBet365 has reportedly joined forces with Pasteko, a local bingo hall operator in Buenos Aires, while Betway teamed up with Bingo King. A third company, Codere LatAm, will work with Iberargen to launch in the country, if approval is given. Codere’s CEO, Aviv Sher, expects Latin America to be the next location for massive growth after Europe and Asia.

Buenos Aires is preparing to approve as many as seven online gambling licenses in the province. Most of the licenses issued are expected to be awarded to joint projects that involve international and local operators.

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Chinese police arrest 78 for online gambling; 35 nationals deported

Police have arrested 78 suspects for organised online gambling through computer games in the eastern Anhui province, involving 128m yuan ($18.5m).

Chinese authorities received a tip-off about the organisation after an individual lost 300,000 yuan on an online game called “Zork.”

A total of 78 suspects were arrested, with 46 of them still being detained as investigations continue.

Elsewhere, 35 Chinese nationals have been deported for online gambling activities.

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Ripple effect on Gaming if BOV lose dollar transaction provider

Bank of Valletta was preparing for the possible pull-out of ING, its sole remaining provider of correspondent banking services in US dollars, an official confirmed. The official, who asked not to be named, said mitigating measures were being taken over fears that the Dutch bank could pull the plug on its correspondent banking services to Malta.

ING is the last remaining provider of correspondent banking services to BOV in US dollars. Deutsche Bank terminated its servicing of such transactions two years ago.  ING was fined €775 million in September after admitting that criminals had been able to launder money through its accounts. Ever since, it has been on a de-risking exercise and correspondent banking relationships with small jurisdictions seen as high risk are being severed.

Malta’s willingness to combat financial crime has been called into question over recent years, fuelled in part by Prime Minister Joseph Muscat’s refusal to dump his chief of staff, Keith Schembri, and Tourism Minister Konrad Mizzi over their involvement in the Panama Papers scandal.

ING did not respond to a request for comment from the Times of Malta.

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Spain calls for gambling advertising ban

Spain’s Acting Ombudsman, Francisco Fernández Marugán, has called for a national gambling advertising ban.

Spain’s online gaming market saw gross revenue grow 26% to €699m ($786m) for 2018 and Marugán feels the country’s gambling market is spreading "without control."

Believing gambling should be considered a matter of public health, Marugán wants legislation to look more into online gaming and lacks faith in "a model of self-regulation."

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ESports and the Russian Gambling Market

Russia is one of the strictest countries when it comes to gambling in general. The industry hasn’t been eradicated completely within the borders of the federation, but restrictions are extremely heavy.

Offline casinos cannot touch any market besides 4 pre-assigned regions, which are not that profitable due to distance from Moscow. But what the country is combating every single day is online gambling and the goal of removing it completely from the region.

However, players are still finding ways to place bets on eSports gambling websites as they are very rarely classified or even identified as wagering platforms.

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