GPWA Times Magazine - Issue 55 - February 2023

QUOTABLES Q U O T A B L E S “Despite several risk-basedmeasures already being implemented bymany EU online operators, the exposure tomoney laundering risks in online gambling is still rather high as it encompasses significant factors such as the non face-to-face element, huge and complex volumes of transactions, and financial flows.” —The European Commission after raising the threat level for money laundering in online gambling to its highest possible rating in November “For most people who place a bet, gambling isn’t a problem. In the long run, you lose, of course. You can’t beat the system, but it’s just a recreational cost like going to the cinema …For many though, gambling becomes a very serious problemandworse than that, an addiction.” —Cork County Councilor Sean O’Connor as Ireland was preparing to introduce a new Gambling Regulation Bill in December “For the average recreational player, [cash back bonuses] can encourage an intensification of gambling behavior because the brake of loss is dampened and the perceived risk of participating in games of chance seems to decrease.” —The Kansspelautoriteit, the Netherlands Gambling Authority, after informing all license holders in November that offering cash back bonuses is prohibited “I’mnot saying these operators are getting everything right and I’mnot saying the regulatorwants to see people, in general, spending less on gambling either. Our role is to permit gambling as long as it is safe, fair and crime free, not tomake a moral judgment onhowmuchmoney is spent on gambling.” —Gambling Commission CEO Andrew Rhodes during a speech at the U.K. Gambling Commission’s CEO Briefing in November G P W A t i m e s . o r g 10