SBC News Voice of the Sports Betting Industry
The Dutch Gaming Authority, Kansspelautoriteit, has granted TonyBet a license, as the operator continues its European venture.
Offering games of chance in the context of the Remote Gambling Act (Koa), TonyBet is looking to follow-up an array of European and North American via this latest certification.
The news follows a number of recent developments disclosed by the group, as well as a number of market updates issued by the regulator.
This online casino licence issuance permits TonyBet to enter the Dutch digital ecosystem, with the five-year certification valid from 14 November 2022- 14 November 2027.
Alongside issuing the permit, the Dutch regulator, which welcomed “an important step” in opening the much delayed market on October 1, 2021, also noted that the domain name that the group will operate is not yet known, but once this information becomes available the country’s online gambling guide, Kansspelwijzer, will be updated.
In September, following a multi-nation integration agreement being inked alongside igaming development studio iSoftBet, TonyBet commenced a Latvian journey amid assertions of wider European aspirations.
Following this move, the group stressed a belief that “there is still room in the market for a strong, international player” despite the “considerable competition” that exists within the region. Market entry came after a €1.5m investment was made to create a platform to do so.
Last month, TonyBet followed-up these European developments by aligning with US Integrity in preparation for a Canadian launch, with the igaming and online sports betting brand plans to execute before the close of the year.
Earlier this month, the Dutch gambling regulator issued an instruction to a pair of online gaming providers, as well as a reminder to the industry, after violations of the country’s Money Laundering and Terrorist Financing (Prevention) Act (WwFt) were unearthed.
This followed a market-wide preliminary study into compliance obligations being conducted, following which it was discovered that the two unnamed licence holders did not sufficiently control the gaming behaviour of the players.
After user data was closely examined, it was found that players, including young adults, were able to lose and top up tens of thousands of euros in a short period of time, without the providers having to intervene or investigate.
