According to the European Gaming & Betting Association, online gambling rules will be streamlined in the European Union.
The association announced that the entire European gambling sector will now be included in full in an upcoming anti-money laundering directive under a deal reached by the negotiating teams of the European Parliament and the Member States.
The association said it EGBA welcomes the deal as it ensures that the online gambling industry will operate under one set of rules in the whole of the European Union.
“EGBA has actively engaged with the EU institutions to include online gambling in the directive. The new directive ensures that EU online gambling providers now have 1 rather than 28 sets of AML rules to comply with to provide their services in the EU,” said Maarten Haijer, Secretary General of EGBA. “The risk-based assessment underpinning the directive will apply to all services, with the exception of land-based casino’s where there can be larger sums of cash money involved. With only electronic payments, no cash and perfect traceability on the internet, EGBA is confident that the directive will further add to the safe provision of EU regulated online gambling services.”