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Tuesday, March 21, 2023

Australian casino donates to Ukraine, but questions remain about Russian players

Ordinary Russians are not currently sanctioned, but several US and UK gaming groups are moving to block Russian players due to the risk that people could be sanctioned or people associated with sanctioned entities using casinos.

Russian players are frequent users of online casinos, while Russian companies contribute to the online casino economy through live shows, software and other ancillary services.

At the end of February, the British gambling regulator issued an update urging operators in its market to be careful and inadvertently help politically exposed Russians violate sanctions.

“In connection with further UK Government sanctions against Russia, the Commission is reminding gambling operators to apply a risk-based approach to any third party or business relationships they have or customer relationships that are associated with Russia and any of the covered named persons, banks or organizations under sanctions.

Meanwhile, in the US, bookmaker operators including Caesars, Superbook, DraftKings have imposed their own restrictions by refusing to accept bets on Russian sports events.

Stake.com is officially registered and licensed in Curacao but has significant operations in Australia and has several senior employees in Melbourne.

Stake.com’s existence in Australia is completely legal due to a loophole in local laws that allows online casinos to operate from Australia if they don’t cater to Australian customers, including those using fake IDs or VPNs to mask their location. .

The Market Recap Newsletter is a daily trading overview. Receive every weekday afternoon.The Market Recap Newsletter is a daily trading overview. Receive every weekday afternoon.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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