The Malta Gaming Authority (MGA) is renowned for its stringent regulatory practices to ensure a safe and fair online gambling environment. The recent decision to cancel Goldwin’s gaming authorisation underscores the MGA’s dedication to these principles. This move comes as part of the MGA’s efforts to continuously refine its oversight and enforcement mechanisms, ensuring that all licensed entities uphold the highest standards of compliance and integrity.
Licence Revocation Details
On 13 March 2025, the MGA will officially revoke Goldwin’s gaming licence, identified by the reference number MGA/B2C/533/2018. This decision, rooted in multiple breaches of the Gaming Compliance and Enforcement Regulations, signals a firm stance against non-compliance. The revocation mandates several immediate actions from Goldwin to ensure transparency and safeguard player interests:
- Player Notification: Goldwin is required to inform all its players about the licence cancellation through email and must also display this information prominently on their website for 30 days.
- Financial Obligations: The company must settle any outstanding fees owed to the MGA within five working days following the revocation date.
- Material Amendments: All references to the MGA and the authorisation must be removed from Goldwin’s marketing materials immediately, as per Article 51 of the Gaming Act.
Protecting Player Interests
In the wake of the cancellation, Goldwin is instructed to assist players in withdrawing their funds. Players seeking to reclaim their deposits can turn to the MGA’s ticketing system for guidance and support. This measure is part of the MGA’s broader strategy to ensure that player funds are protected, even in cases of licence revocation.
MGA’s Enhanced Regulatory Framework
The revocation comes shortly after the MGA introduced an updated regulatory oversight strategy for 2025. The new framework focuses on three critical areas:
- Risk-Based Resource Allocation: Allocating resources more efficiently based on the assessment of risks associated with different licensees.
- Enhanced Collaboration: Working closely with other regulatory bodies and stakeholders to bolster the effectiveness of gambling regulation.
- Proactive Risk Management: Implementing a more evidence-driven approach to preemptively identify and mitigate potential risks in the gambling sector.
These enhancements aim to refine the MGA’s regulatory processes, ensuring that they remain robust and responsive to the dynamics of the global gambling market.
Our Commitment to Safe Gambling
In line with the MGA’s rigorous standards, our platform continues to prioritize the safety and security of our users. We are committed to listing only casinos that comply fully with regulatory requirements, providing a trustworthy and secure online gambling experience. Our commitment extends beyond simple compliance, embracing a proactive approach to player safety and fair play.
Robinhood Expands Beyond Traditional Trading
Robinhood, known for its accessible stock trading app, is entering new territory with prediction markets through a partnership with Kalshi. This expansion moves the company beyond traditional financial trading into speculative betting on future events, including NCAA March Madness basketball.
Betting Options and Partnership
The new prediction markets hub within the Robinhood app allows users to wager on outcomes across sports, economics, and political events. Sports enthusiasts can now bet on March Madness directly through their Robinhood accounts.
Kalshi, an established prediction markets operator known for political and economic events, is helping Robinhood branch into sports-related prediction contracts. This collaboration gives Robinhood’s users easy access to betting without needing multiple platforms.
Regulatory Compliance
Robinhood has worked with the Commodity Futures Trading Commission (CFTC) to secure necessary permissions for its prediction markets hub. JB Mackenzie, VP & GM of Futures and International at Robinhood, noted that “these markets intersect significantly with sports, politics, economics, and popular culture,” while emphasizing the platform’s compliance measures.
The service is available nationwide except in Nevada, where regulatory hurdles have prevented immediate launch.
User-Friendly Pricing
Robinhood has introduced an affordable pricing model with customers paying only a two-cent fee per contract, split evenly between Robinhood and Kalshi. This structure aims to encourage participation without significant financial barriers.
Future Plans
While initially focusing on high-profile events like March Madness, Robinhood plans to introduce additional categories including entertainment and cultural predictions. The wider industry continues to face regulatory scrutiny, with upcoming CFTC roundtable discussions aimed at clarifying frameworks for sports prediction markets.
Kalshi CEO Tarek Mansour expressed enthusiasm about the partnership: “March Madness is renowned for its unpredictability. We’re delighted to partner with Robinhood to amplify that excitement through accessible prediction markets for American sports fans.”
Though currently using Kalshi’s infrastructure, Robinhood has indicated potential future independence by developing its own platform or collaborating with other providers. This initiative positions Robinhood uniquely in the growing online prediction and sports betting landscape, leveraging its existing customer base as it continues to diversify beyond stock trading.
Underdog Fantasy is leaving the New York market after an $18 million settlement with the NYSGC. The company is expanding its Champions Pick’em product into New Jersey and Delaware.
New York Departure and Settlement Details
Underdog Fantasy first ventured into the New York market in July 2020 and operated without a formal license until it acquired Synkt Games in December 2022. This acquisition allowed Underdog to inherit Synkt’s temporary license, issued as part of a broader initiative by the state since 2016. The NYSGC later found that Underdog offered contests beyond what was allowed under Synkt’s license terms, leading to the hefty settlement. Underdog’s settlement includes covering back taxes owed by Synkt on its fantasy earnings, along with the possibility for Underdog to reapply for a permanent fantasy or gaming license in New York.
Comments from Underdog’s General Counsel
Nicholas Green, Underdog’s General Counsel, expressed mixed feelings about the settlement. “For nearly a decade, fantasy sports in New York has operated in regulatory uncertainty,” he stated, highlighting the challenges of navigating the state’s licensing process. Despite disagreements with the NYSGC’s findings, Green appreciated the clarity the settlement provided and looked forward to potentially resuming operations in New York.
Regulatory Landscape in New York
New York’s approach to fantasy sports regulation has seen its share of delays and legal hurdles. Legislation passed in 2016 aimed to regulate daily fantasy sports, but legal challenges delayed enforcement until 2021. Final regulations, which include limitations on contests akin to proposition betting, only came into effect in June 2024. The ongoing licensing process for permanent fantasy operators indicates the state’s effort to stabilize the regulatory environment.
Expansion into New Jersey and Delaware
Underdog is withdrawing from New York but continues expanding in other states. The company is launching its Pick’em Champions game in Delaware and is returning to New Jersey, where it had operated before. Green noted that New Jersey and Delaware have modern sports gaming regulations and mentioned the regulatory framework in these states that support their product.
Conclusion
Underdog Fantasy is retreating from New York while expanding into new markets, navigating the complex U.S. fantasy sports regulations. Despite setbacks in one state, it continues to adapt and find opportunities elsewhere.
Slovakia’s virtual betting landscape witnessed extraordinary expansion in 2024, with digital gambling revenue jumping 30% to €476 million, according to the latest findings from the Slovakian Gambling Regulatory Authority (URHH). This dramatic uptick signals a fundamental transformation in the country’s gaming sector as internet-based options increasingly eclipse brick-and-mortar establishments.
Betting Volume Reaches Historic Heights
Wagers across Slovakia’s gambling market soared to €24.2 billion in 2024, representing an 11% climb from the preceding year. Online platforms processed €12.18 billion in bets, returning €11.7 billion to players as prizes. The industry’s total revenue reached €1.45 billion, reflecting a 9.6% improvement year-on-year.
URHH Director General Martin Bohoš linked this expansion to “technological innovation in digital services, shifting consumer preferences, and robust regulatory frameworks.” He noted that “internet-based casino operations continue to dominate market share” within Slovakia’s gambling ecosystem.
Traditional Venues Confront Steep Obstacles
As virtual platforms thrive, Slovakia’s conventional gambling facilities encounter growing headwinds. Physical locations generated €480 million in 2024, with gaming halls producing €340 million and casinos accounting for €140 million.
Yet URHH forecasts indicate a forthcoming decline in traditional venue revenues for 2025, largely stemming from intensified municipal restrictions. These regulatory measures, including prohibitions in regions such as Bratislava, threaten to diminish the authorized gambling footprint and potentially redirect players toward unauthorized operators.
National Coffers Benefit from Increased Taxation
Slovakia’s treasury collected €347.3 million from gambling taxes in 2024, representing a robust 15% increase from the prior year. Online casinos fueled this growth, with their tax contributions escalating by 35% to €126.1 million.
Meanwhile, tax revenue from gaming halls receded by 5% to €58.95 million, while casino contributions grew by 26% to €16.4 million. Number-based lotteries performed admirably as well, delivering a 9% boost that yielded €47.6 million in tax proceeds.
Authority Intensifies Efforts Against Unlicensed Operations
In its continuing campaign to maintain market integrity, URHH blacklisted 89 additional websites during 2024. This enforcement action expanded the registry of prohibited gambling platforms to 820, underscoring the regulator’s determination to suppress unauthorized gambling activities.
“Tackling illegal operations remains our central focus,” emphasized Bohoš. “We are committed to enhancing surveillance and implementing more rigorous protocols to safeguard a legitimate and equitable gambling environment for participants.”
The regulatory body is simultaneously strengthening protection mechanisms for vulnerable users and self-exclusion systems as digital gambling continues its ascent. These initiatives aim to achieve equilibrium between sector development and responsible gambling standards in Slovakia’s evolving marketplace.
Major College Programs Caught in Sports Betting Probe
Recent investigations by gambling monitoring agency ProhiBet have uncovered several betting violations at prominent NCAA institutions, raising concerns about the growing influence of sports wagering on college athletics.
Texas Longhorns Self-Report Major Violations
The University of Texas athletics department has self-reported five members of its program for engaging in prohibited sports betting activities. Two football players and several staff members spent $14,885 on the daily fantasy platform PrizePicks, violating NCAA regulations.
Consequences varied by involvement level. One football player regained eligibility after donating winnings to charity, while a student assistant was terminated for betting on Longhorns games. Other staff received warnings and mandatory gambling education.
Mississippi State Reports Minor Infractions
At Mississippi State University, a male practice squad player from the women’s basketball program placed $10 worth of bets on NFL and college football games. Though these wagers didn’t include Mississippi State contests, they violated NCAA bylaw 10.3, resulting in the deactivation of the player’s betting account and enhanced education efforts.
This represented one of three Level III infractions reported by Mississippi State in 2024.
Digital Monitoring Detects Violations
Both universities employed ProhiBet’s monitoring services to detect gambling activities among athletes and staff. The platform has proven effective in identifying violations before they escalate into major compliance issues.
College Sports Grapple With Betting Boom
These cases highlight the growing tension between widespread legal sports betting and NCAA regulations. As online wagering becomes increasingly accessible, athletic departments face mounting pressure to educate participants about gambling restrictions.
Prevention Measures Intensify
In response to these incidents, universities are implementing additional safeguards including:
- Enhanced compliance training for athletes and staff
- Regular auditing of potential betting activities
- Improved reporting channels for suspicious behavior
Industry experts predict similar cases will increase as sports betting continues its rapid expansion into mainstream culture, creating an ongoing challenge for NCAA compliance departments nationwide.
