SBC News Italy amends fixed-odds rules to allow cash-out on all betting markets 

Italy amends fixed-odds rules to allow cash-out on all betting markets 

Italy’s Ministry of Economy & Finance (MEF) has drafted a ‘Betting Decree’ to amend rules on fixed-odds betting markets for sporting events. 

The amendments, published in last week’s Official Government Gazette (28 October), will impose new changes to improve the offering of licensed bookmakers (online + retail).

Long-awaited changes will allow Italian bookmakers to offer customers cash-out functionalities across all betting markets, which to date have only been available for horseracing events. 

“Workarounds for cash-outs through ‘bet insurance’ have been available before, but the new regulations will at least ensure they can be regulated consistently.” noted Italian betting news source AgiPronews.

Italian bookmakers have been further relieved by amendments to the €10,000 winning cap imposed on fixed-odds betting markets, which have garnered a five-fold increase to €50,000.

Amendments to the Betting Decree have stated that bookmakers must offer a minimum bet of €1 on all sporting events offered.

Of further significance, the MEF will allow bookmakers to correct ‘errors in odds’ offered to customers. To date, Italian bookmakers have been forced to accept wagers on incorrect odds, leading to costly market payouts.

ADM – Italy’s Customs and Monopolies Agency – is required to undertake a technical review of the MEF’s desired amendments to “make the Italian licensed offering more competitive”.

The changes are welcomed by Italian operators, who have waited for more than a decade for the government to update rules related to bet types and markets offered.  

Welcoming the MEF’s decree, Agostino Romano, Snaitech’s Chief Retail Operations Officer, commented: “With this regulation, operators align themselves with the international market, thus combating illegal gaming.

“Of importance is the rapprochement between retail and the online world, already promoted by the omnichannel project, thus offering a similar product from both gaming experiences.

SBC News Italy amends fixed-odds rules to allow cash-out on all betting markets 

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