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The Italian gambling authority approved new sports betting bonus rules providing a higher level of flexibility in bonus offerings.
In the context of the Italian sports betting market, bonuses play a pivotal role in informing players on recent offers and enhancing their gaming experience. However, with the recent enactment of the new Italian Bonus Sports Betting rules, there are specific regulations that both operators and players need to adhere to.
The Types of Bonuses Allowed under the new Italian Sports Betting rules
The decree approved by the Italian gambling authority outlines three distinct types of bonuses that can be offered by operators:
- Bonuses for Cash Winnings Redemption: the amount paid to the player are winnings which have to be considered withdrawal balance.
- Reduced Payout Bonus: The winning amount is adjusted by deducting the value of the bonus used by the player for placing the bet.
- Bonus Payout: The winning amount is credited as a bonus, which typically requires wagering before withdrawal.
Regulatory Changes and Considerations
In addition to defining bonus types, the decree introduces regulatory changes that must be considered:
- Limitation on Bonus Use;
- Reporting Requirements:
- Restriction on Cashouts:
- Maximum Bonus Amount according to which the bonus used for placing fixed-odds bets cannot go beyond one hundred euros.
- Monthly Bonus Limit: Operators are restricted in the amount of bonuses they can offer per license in a calendar month, with limits based on turnover and winnings.
- Inclusion of Bonuses in GGR Calculations.
Effective Date and Compliance
The decree is slated to come into effect on June 1, 2024, providing a grace period for operators to adjust their practices accordingly.
In essence, the new Bonus Sports betting Directorial rules bring clarity and standardization to the sports betting bonuses offering while ensuring fairness and transparency for both operators and players alike. Compliance with these regulations is crucial for all stakeholders to maintain integrity within the industry and foster a positive gaming environment. It is a major change in market where, because of the Italian gambling advertising ban, there are considerable restrictions on promotions.
This topic will be discussed, together with the new Italian gambling regime, on the 16th of March as part of a webinar whose details are available HERE
