This Week's Top iGaming News, May 12, 2023

This Week's Top iGaming News, May 12, 2023

It’s been another busy week in the world of iGaming. We hope you enjoy our ten-minute round-up of news bits and pieces from across the globe, in our weekly WeAreGame iGaming newsletter.

Ghanaian Government Announces a 10% Tax on Lottery & Sportsbook Winnings

The government of Ghana have announced they will be imposing a 10% tax on any winnings made on sports betting and lottery. Ghana is one of the fastest-growing African iGaming nations and the speed at which the popularity of the industry was expanding was picked up by local officials.

It is only a year since the Ghana Revenue Authority (GRA) began taxing e-commerce, gaming and betting in April 2022.  Dr. Martin Yamborigya, Assistant Commissioner at GRA, stated that iGaming company activities must increase the government revenue in line with their growth, and said that ‘It is an area that is also growing. A lot of people are moving away from the brick-and-mortar business into this online business.'

Poker Professionals Classed as Sportsmen & Women in Spain

The Spanish Ministry of Finance and the Tax Administration Agency have declared that all professional poker players will henceforth be treated as sportsmen and women. The decision was made to change the classification so that winnings can be taxed. As well as poker players, professionals who compete in chess, billiards, and any other playing card games, will also be affected.

Although it will be seen as recognition and promotion to some outsiders, those who play are less happy about how it will affect them. The Spanish Treasury stated that ‘With this equalization to professional sportsmen, the Treasury intends to keep a part of all that capital that goes with the players who win the prizes.’

Fishy Fun in Latin America

Recent research conducted in the Latam market shows a blossoming interest in fish-themed games. The popular RNG fishing games, which originated in Asia, involve players casting out their nets, or other equipment, and attempting to catch various fish and other aquatic creatures.

Argentinian players are the biggest fans with ‘fish spins’ exceeding a whopping 8.5 million a month. The eye-catching, mobile-friendly games are fun and easy to play, with big prize pots. Small bets can lead to whale-sized wins, which is part of the appeal. Expect to see a big shoal of operators sharking out these games…

Sponsorship Changes in the Netherlands

The Netherlands’ government has made the announcement that 2025 will see the end of bookmaker sponsorship deals. Advertisements on television, radio and billboards, will also cease.  The move was declared by Franc Weerwind, Minister for Legal Protection of the Netherlands. It will affect the biggest Dutch League for football, known as the Eredivisie.

Following closely behind similar new legislation in the UK, with the upcoming end of Premier League sponsorship, we may soon see more and more sportsbooks expanding their vision into other markets for ease of advertising, acquisition and retention. Sports betting sites will, however, continue to be allowed to advertise on social media and paid television networks.

World Series Of Poker Revisits London

Grab a pen and put 27 July – 13 August in your diary because the WSOP Super Circuit Series London returns. Taking place at an iconic venue in Park Lane, Mayfair, the JW Marriott Grosvenor House Hotel, the prestigious event gets the 2023/2024 season off to a flying start.

Players will be excited about the colossal prizes available for the most talented of players. Events include the £3,000 & £300 Main Event, the £500 & £60 Colossus, the £1,000 & £100 Mystery Million, and the £10,000 & £400 High Roller. Players can also register for online satellite tournaments for a lower cost. This prestigious event is the jewel in the crown of poker competitions and is sure to draw big players back into England’s capital for the first time since the 2010 London event. Watch this space!

Keep in the Loop

Check back with us next week to find out what else has been happening in the wonderful world of iGaming and gambling!

If you want to know more about how we can help you start up your own iGaming business or expand your current brand with our platforms solutions, get in touch at: hello@weare.game

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