Online Gambling Regulators Need Risk Prevention Measures

In the past Malta’s Lotteries & Gaming Authority logo has been misused and the Authority has responded fast and decisively. The Authority has once again made it known that the web site 21KBet is unauthorized and is in contravention of the fair play rules and should be avoided.
It has been reported by SportsBookReview.com that 21KBet has 19 players with as much as €20k on deposit. These individuals are complaining that there have been issues regarding the payout of winnings.  21KBet is not taking responsibility but is shifting the onus on Moneybookers for the problems. Moneybookers has denied that 21KBet is an authorized merchant.

Malta’s LGA issued a statement regarding the rogue web site, ‘The Lotteries and Gaming Authority (the ‘Authority’) would like to inform the public that the website 21kbet.com has no connection whatsoever with the Authority and therefore any reference to the Authority and, or license issued by the Authority on the mentioned website is false and misleading. The Authority advises the public to play responsibly with operators licensed by jurisdictions that have sound remote gaming regulations.’
Regulators from Alderney, Gibraltar and Jersey got together recently in London to discuss online gambling with a UK parliamentary select committee. This is in preparation of the U.K.’s restructuring of the Gambling Act of 2005. These other regulated environments are looking to circumvent issues posed by the rogue gambling web sites. In retrospect the Full Tilt fiasco is still having repercussions for the regulating bodies. Hard questions are being presented to the regulating bodies forcing the Authorities to examine their strengths and weaknesses.

Alderney Gambling Control Commission executive director Andre Wilsenach, has called for a system that would “create a very careful risk profile of operators depending on which jurisdictions they do business in, what payment processors they use and so forth … if it requires that you audit their statements and financials on a quarterly basis, and if they have to pay for it, then so be it. That would be the requirement of operators who fall into that risk profile.”