Betfair - Italian Betting Exchange Regulation

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Bet Angel
Bet Angel
Bet Angel
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Joined: Tue Apr 14, 2009 3:47 pm

Statement just made by Betfair about Italian market

Italian Betting Exchange Regulation

BETFAIR GROUP PLC, welcomes the actions of the Italian authorities in notifying a Ministerial Decree to the European Commission that will regulate betting exchanges in Italy.

This will subsequently allow Betfair to apply for an authorisation under its existing Italian online gambling licence to operate the company's betting exchange product in the country.

The Company looks forward to working with the Italian authorities to obtain this authorisation over the coming months.

The Ministerial Decree will now be reviewed by the European Commission, after which it will be returned to the Italian Ministry of Finance for signing following which it will enter into force.
enzabella2009
Posts: 747
Joined: Tue Nov 03, 2009 3:58 pm

Betfair had been given the same option while ago. I am glad they are moving forward. The italian market will defenately increase the liquidity on betfair. I have been asked 100s of question about GB horse racing too on an Italian forum so I ll advise betangel to be 1st to advirtise softwares and training courses for Italian users. Believe or not you may sale your product much more than you expected, without mentioning the queue of people who would love to participate your courses. The only problem is that the majority of Italians do not speak English but this is definitely something that could solve easily.
enzabella2009
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Joined: Tue Nov 03, 2009 3:58 pm

Hi guys,
the italian governament is approving a law against illegal gambling. Betfair is considered illegal at the moment. There was a law just against bookmakers but now they are approving a law against the users. If you get caught of any transaction on italian territory you will be up against fines and prison. If you make 250,000 euros transactions in one week, you will be charged to pay a fine of 250million euros.
It`s not 100% certain but I would like to advice to all italian users to act very cautionally. However by may 2012 betfair will be regolated by the italian law.
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CaerMyrddin
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This is a risky bussiness, isn't it?
hgodden
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Enzabella

Thanks for posting that info. Do you have any more information on this or any links? Is this something that is likely to be enforced on users? Will it be okay to use betfair in Italy up till May 2012?

Sorry for all the questions but I was planning on spending some time in Italy this year
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LeTiss
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Joined: Fri May 08, 2009 6:04 pm

More lives will be ruined by alcohol in Italy this year, than internet gambling.
enzabella2009
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If the law passes ( 100% it will) I will be forced to end my business here. I thought that the 1st italian betting exchange was a good thing, opening up new business opportunitys but now that I am looking deeper in to the matter I have realized that the Italian governament was a bit more clever then betfair and our self.
Since 2007 only bookmakers were banned but users had the right to bet whatever bookmaker they like. In a few weeks it will all change. If you get caught even as a tuorist you will paying 1000 times your betting transactions and twice the amount of deposits you make. So if you deposited 10 euros and make 100 euros in transactions, you will pay 20euro+100000euros fine. I bet you guys are wondering why is this happening, the reason is simple the italian governament is trying to monopolize betfair.italia. Maybe in 2-3 years betfair will understand what is really happening and therefore will leave the italian market but meanwhile, the big players have left italy and all of the rest of italian users will be banned to bet elsewhere. The commission will be 10%, it`s a clear cut of a possible edge. Each transaction have to be permitted 1st. If you are trying to trade you must ask permission every time you click on the back or lay and every time you close your position. It will take 2-3 minutes to do something that you normally do in couple seconds. The big players will not allowed to play. Only losers will be welcome with small amount per trade. etc etc. I have no intention of boring you here so I stop mentioning all the reasons why betfair.italia will work only for the governament ( taxes and restrictions)
Here below you find the law in process

L'Art.4 recita così: "Ferme restando le sanzioni amministrative e penali previste da altre disposizioni di legge, chiunque, residente, domiciliato o, comunque, stabilito nel territorio dello Stato partecipa, anche attraverso internet, reti telematiche o di telecomunicazione, a giochi, scommesse o concorsi pronostici con vincite in denaro offerti da soggetti che operano in difetto di concessione, autorizzazione, licenza od altro titolo autorizzatorio o abilitativo o, comunque, in violazione delle norme di legge o di regolamento o delle prescrizioni definite dall'AAMS è punito:
a) con la sanzione amministrativa pari al 1000 volte della somma complessivamente giocata e, comunque, non inferiore a euro 10.000;
b) in aggiunta alla sanzione di cui alla lettera a), con una sanzione pecuniaria pari al doppio delle somme complessivamente trasferite per costituire o alimentare conti di gioco."

Translated:

The Art .4 reads: "Subject to the administrative and criminal penalties under any other provisions of law, any person resident, domiciled or otherwise established in the State participates, including through the Internet, computer networks or telecommunications, to gaming, betting or pools with cash prizes offered by individuals acting in the absence of licensing, authorization, license or other license or authorization, or qualifying or otherwise in violation of laws or regulations or requirements defined by AAMS is punished:
a) by a fine equal to 1000 times of the total amount bet and in any event not less than EUR 10,000;
b) in addition to the penalty referred to in subparagraph a), with a fine equal to twice the total amount to be transferred to food or game accounts. "
hgodden wrote:Enzabella

Thanks for posting that info. Do you have any more information on this or any links? Is this something that is likely to be enforced on users? Will it be okay to use betfair in Italy up till May 2012?

Sorry for all the questions but I was planning on spending some time in Italy this year
hgodden
Posts: 1759
Joined: Thu Apr 16, 2009 2:13 pm

Thanks for explaining. When does it come in? May 1st or the end of May?
enzabella2009
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Joined: Tue Nov 03, 2009 3:58 pm

We don`t know yet. Betfair will be regolated but it will be illegal to trade on betfair.com (UK).
hgodden wrote:Thanks for explaining. When does it come in? May 1st or the end of May?
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CaerMyrddin
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I'm convinced that the industry as a whole and especially the british industry should be lobbying for an european act on this subject. With so many laws to do this and that, shouldn't the EU do some homework and put an end to this obvious limitation to free circulation of services?

Are you moving to another country Enzabella? It's a shame if you have to, a country should always be able to retain its talents...
Innertube
Posts: 215
Joined: Mon Mar 14, 2011 9:18 am

hgodden wrote:Enzabella

Thanks for posting that info. Do you have any more information on this or any links? Is this something that is likely to be enforced on users? Will it be okay to use betfair in Italy up till May 2012?

Sorry for all the questions but I was planning on spending some time in Italy this year
If you are in the UK then it shouldn't affect you as you can use a proxy or vps to bet from the UK if you are somewhere else. More of a problem for people in Italy I think?
enzabella2009
Posts: 747
Joined: Tue Nov 03, 2009 3:58 pm

Innertube wrote:
hgodden wrote:Enzabella

Thanks for posting that info. Do you have any more information on this or any links? Is this something that is likely to be enforced on users? Will it be okay to use betfair in Italy up till May 2012?

Sorry for all the questions but I was planning on spending some time in Italy this year
If you are in the UK then it shouldn't affect you as you can use a proxy or vps to bet from the UK if you are somewhere else. More of a problem for people in Italy I think?
If you get caught whatever you are using as long you are in the italian territory you will face charges.
CaerMyrddin wrote:I'm convinced that the industry as a whole and especially the british industry should be lobbying for an european act on this subject. With so many laws to do this and that, shouldn't the EU do some homework and put an end to this obvious limitation to free circulation of services?

Are you moving to another country Enzabella? It's a shame if you have to, a country should always be able to retain its talents...

My best option is to move back to England but, I will wait until I have all the right informations. I need to see my layers as well for the real implications. There may be a way out but, it`s a difficult one. regards of the EU, they already did some homework and in facts they are advising countrys to approach liberalization of each products and services, the only problem is that country such as Italy makes some outstanding profits on gambling and lotteries, much more than any other country in europe. They eccepted to introduce the Betting exchange, in fact it was them
on the day of Monday, January 16, 2012 that sent to Brussels the new regulation which will govern how the Betting Exchange will operate in Italy. Brussels eccepted every terms but I think they were a bit drunk because they did not notice how bad the terms and conditions were for the users, for betfair but so advantageous to the pockets of the state monopoly.
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Maybe the thinking was that the state monopoly brings in lots of taxes, with is good news for the EU.

They know whose side ex-Brussles man Super Mario is on! ;)

Jeff
enzabella2009 wrote: Brussels eccepted every terms but I think they were a bit drunk because they did not notice how bad the terms and conditions were for the users, for betfair but so advantageous to the pockets of the state monopoly.
enzabella2009
Posts: 747
Joined: Tue Nov 03, 2009 3:58 pm

:lol: :lol: :lol:
Super mario bros is collecting all the diamonds..
Ferru123 wrote:Maybe the thinking was that the state monopoly brings in lots of taxes, with is good news for the EU.

They know whose side ex-Brussles man Super Mario is on! ;)

Jeff
enzabella2009 wrote: Brussels eccepted every terms but I think they were a bit drunk because they did not notice how bad the terms and conditions were for the users, for betfair but so advantageous to the pockets of the state monopoly.
enzabella2009
Posts: 747
Joined: Tue Nov 03, 2009 3:58 pm

Jeff, you were right to mention Mario Monti.
2morrow there will talks at the parlament about the new law against us.

http://www.gioconews.it/generale/decret ... 22351.html
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