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Is exchange betting in Italy on its way to regulation? Betfair would like to think so…

TAGs: decree, Exchange betting, Italy, regulation

ItalyExchange betting in Italy could be regulated within the next few months, a ministerial decree has revealed.

The decree will now be reviewed by the European Commission during a three month period, after which – if there are no objections – it will return to the Italian Ministry of Finance for further discussion before it can be passed into law and put into force.

In a report by eGaming Review, head of remote gaming at Italian regulator AAMS, Francesco Rodano commented on the news, saying: “Unless there are any objections we can then go on through the process. It’s impossible to be certain how long that will take, but it is likely to be another three to five months after the standstill period.”

Rodana added that because the decree is ministerial and not administrative, then there is more chance for it to be opposed internally. “With the exception of the initial legislation in 2007, earlier legislation was not introduced in the form of a ministerial decree so everything could be done in-house,” Rodana said. “This time there are some within the Italian administration who will have to pass comment.”

However, Betfair Group has publicly announced it happily supports the decree and is looking forward to its authorisation in the coming months.

A report by StockMarketWire.com states the decree will allow Betfair to apply for an authorisation under its existing Italian online gambling licence to operate the company’s betting exchange product in the country.

Rodano established that no other operator had made its intention to apply for an exchange betting licence known, but hinted that other firms had suggested they just could well apply after the regulation in Italy is passed.

Who would you bet on as the next company to voice their support of the decree?

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