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Japan sets up gaming regulator

After following suit from Singapore, the fact that gambling is now legal in Japan is likely to have some huge benefits on the economy as well as the country’s tourism, however; the new law was only passed subject to some strict conditions for the casino resorts scheduled to be built. All casinos MUST be family-friendly (in a bid to counter an unwholesome reputation) Customers are permitted to visit the gambling establishments 3 times per week (maximum) Locals must pay an entrance fee of 6,000 yen ($55 US Dollars), all foreigners entrance must be free The legislation means these multi-billion-dollar establishments will also be taxed at a rate of 30% of gross revenue. So far, the city which appears to be the most suitable and likely delegate for these plans to take place in, is Osaka. Although nothing is completely set in stone, it has been deemed as a targeted area for casino operators, and officials are already showing their support at the prospect of having an integrated casino in the area. The other 2 cities considered the most promising candidates are Tokyo and Yokohama. Records indicate that Osaka Governor Ichiro Matsui, has already met and been in discussion with 11 online casinos around the country, on 119 different occasion since 2017. Although most forms of gambling both online and offline are illegal throughout Japan, there are some forms that are considered acceptable. These include Public Sports, Lotteries and Toto (football pools), which are regulated under special laws and serve as a form of entertainment for the people, as well as generate increased income for both local and national governments. Another exception to the current law is Pachinko , which is very similar to a pinball slot machine. The only reason this game is permitted here, is purely due to its historical and cultural sentiment. Pachinko however, can only be played for prizes, not money.

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UKGC <a href=''></a> Orders Online Gambling Sites to Remove Withdrawal Restrictions

UKGC This week, the United Kingdom Gambling Commission reiterated the findings and warned operators that they will “face action” if they continue to engage in unfair withdrawal practices. The two-year-long CMA investigation found that some sites state in their terms and conditions that players’ balances will be seized if their accounts lie dormant for a certain period of time. In some cases, funds are confiscated if players fail to provide proof of ID within a certain timeframe. Some sites were also restricting the amount that could be withdrawn at a time, which the CMA concluded was simply an attempt to keep the customer gambling. Other companies were found to be imposing money laundering controls selectively, in order to delay withdrawals from winning accounts. All of these practices have been deemed unreasonable by both the CMA and the UKGC.

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