news

MGA Announces Suspicious Bets Reports System

October 07, 2020

- Grant Whittington

Source: pxfuel.com
The world-renowned Malta Gaming Authority (MGA) has once again reiterated its position on responsible gambling. The latest change to be implemented is that of sports book operators being from January 1st, 2021, obligated according to the provisions and regulations of the MGA licences, to report all and any unusual betting activities or trends.

The MGA recently published an updated set of rules and standards following a seven week-long consultation marathon aimed at collecting information and industry input regarding the planned implementation of a new rulebook for Suspicious Betting Reporting Criteria.

Early Guidance Will Be Provided

The official guidelines and Suspicious Betting Reporting Mechanism (SBRM) will according to a recent announcement made by the gaming authority, be provided to all B2C-licensed sports book operators on November 1, 2020. Said reporting mechanism will enable betting operators to provide the MGA with mandated the reports.

In addition to the actual system, the MGA has also confirmed itself in the process of finalising a manual detailing the ins and outs and the specific application and use of the new system. The manual, said the gaming authority, will be distributed to licensed operators before the release of the SBRM. The idea is to allow managers and responsible people in the various sports book operator organisations to familiarise themselves with the reporting procedure well ahead of actually starting to use the new system. This will make for ease of reference, explained the MGA.

The regulator furthermore also called on operators to approach the reporting process in a serious light, as all cases reported to the MGA will periodically be published in the form of a progress report. This will enable all relevant stakeholders to remain up to speed and to track progress and industry dynamics as time wears on.

MGA Committed To Integrity

The MGA is fully committed to the safeguarding of the integrity of sports and of betting on sports, said an MGA spokesperson of the upcoming record-keeping system release. This will only be achieved via ongoing collaborative efforts with all of the regulator’s licensees as well as with all other role-players and stakeholders interested in and committed to the same cause as that valued by the MGA.

What’s more, the MGA will treat the new mechanism as an ongoing work in progress, said the spokesperson. To this end, it will continue to discuss ongoing potential policy initiatives with its licensees. This will take on various forms of interaction, including round-table discussions twice a year, several workshops conducted on an ongoing basis, and the establishment of a “Sports Integrity Forum” set to involve all stakeholders and relevant interested parties. Said forum will serve the gaming authority’s existing Sports Integrity Unit.

A Practical Case Study

The MGA has also in the meantime published a draft set of guidelines offering practical guidance as to how suspicious betting reporting would work in practise. Suspicious bets, explains the MGA, includes those bets voided as a result of there existing any suspicion that an event may have been compromised by way of manipulation and/or outside interference. In an instance such as this, the operator reporting the suspicious bet will be expected to provide the MGA with any available supporting documentation at hand.

Each case, continued the MGA, will be assessed as a separate unit or incident. This because of the fact that each case is bound to be different and requiring a case-by-case approach in the spirit of fairness and accuracy.

The main goal of the new reporting system is to provide a standard, or a static definition for what it is that constitutes suspicious betting activities. The implementation of a static definition will in and of itself limit potentially suspicious activities in future, explained the authority.

Recent Posts from this category

news

22/10/20

New Policy To Ban Celebrity Gambling Ads
Read More...

news

21/10/20

Betfred Taken To Court Over Unpaid Winnings
Read More...

news

20/10/20

Southampton F.C. Supports New RecoverMe App
Read More...

news

19/10/20

Punter Wins Big With 20-Leg Golf Bet
Read More...

Click on your choice of sport.