Singapore steps up anti-gambling efforts for Euro 2024  

Laura Saunders, a Conservative parliamentary candidate, (pictured above), has also found herself at t. Saunders, who is contesting the Bristol North West seat, is married to Tony Lee, the Conservative Party’s director of campaigning—a detail that adds a layer of complexity to the case.

The Gambling Commission’s probe into Saunders’ election-related bet is part of a broader investigation that also includes Prime Minister Rishi Sunak’s closest parliamentary aide and a police officer from Sunak’s protection detail. The commission is exploring potential offenses concerning the election date, with the inquiry still in progress.

Saunders’ association with the Conservative Party dates back to 2015, where she has been instrumental in coordinating international efforts with other center-right parties. Her husband, Lee, boasts over two decades of experience in political campaigning and was lauded for his role in the successful re-election of former West Midlands mayor Andy Street in 2021.

The scandal emerges at a time when the Conservative Party is already facing an uphill battle in the polls, with predictions of a significant defeat in the upcoming 4 July election. The party’s campaign has been marred by Sunak’s missteps, including his premature departure from D-Day commemorations.

The revelations surrounding the betting probe have the potential to exacerbate the Tories’ electoral challenges, casting a shadow over their re-election campaign. As the investigation unfolds, the implications for the individuals involved and the integrity of the democratic process remain to be seen.

This situation underscores the delicate balance between political insight and ethical conduct, raising questions about the influence of insider information on betting markets and the safeguards necessary to protect the sanctity of democratic elections. The outcome of the Gambling Commission’s investigation will be closely watched, as it may set a precedent for future conduct and the intersection of politics and gambling.

The recent election scandal has compounded the troubles facing Prime Minister Rishi Sunak and the Conservative Party. With ongoing investigations and public scrutiny intensifying, the scandal has further eroded the public’s trust in the Tory leadership. This latest debacle comes on the heels of two significant polls that forecast a grim outcome for the Conservatives in the upcoming general election.

YouGov’s poll predicts that the Conservative Party could be reduced to a mere 108 seats in Parliament, a devastating blow that would leave them in a severely weakened position. Meanwhile, Savanta’s polling data suggests that Sunak himself is at risk of losing his seat, marking an unprecedented moment in British political history where a sitting prime minister could face such a personal electoral defeat.

These developments are part of political instability and public discontent in the UK. The arrest of a police close protection officer for betting on the timing of the election adds another layer of scandal, reflecting poorly on the government's ability to maintain integrity within its ranks. Additionally, the Labour Party’s strategic moves, such as appointing former Labour minister James Purnell as Flint Global’s new chief executive and pledging ambitious goals like decarbonizing the UK’s electricity sector by 2030, highlight a stark contrast to the Conservative’s recent struggles.

There is also a significant decrease in voter registrations, with almost 2.9 million people registering to vote between the election call on 22 May and the deadline on June 18, representing a drop of over 20 percent compared to the 2019 election period. The SNP’s call for an additional £16 billion in NHS funding and Rachel Reeves’ affirmation that Labour has no plans to raise capital gains tax underscore the policy divides ahead of the election.

Sunak’s dismissal of wealthy individuals abandoning the Conservative Party, claiming they can afford Labour’s tax rises, coupled with his optimistic stance on inflation returning to the target level of 2 percent, seems insufficient to counteract the prevailing narrative of decline and disarray within his party.

Find out more about  to be held in Budapest.

Michigan’shas soared to new heights, reaching a staggering $239.5 million in revenue, marking a significant 28.9 percent increase from the previous year. This remarkable growth spanned both the online casino and sports betting markets, showcasing the state’s burgeoning digital betting scene.

The Michigan Gaming Control Board’s latest data revealed that the state’s revenue eclipsed last year’s $185.8 million for the same month, also surpassing April’s figures by 2.0 percent with a total of $234.8 million. Online casino activities were the powerhouse of this growth, with gross receipts hitting $198.6 million—a 31.9 percent jump year-on-year. Sports betting wasn’t far behind, with gross receipts climbing 15.2 percent to $40.9 million, and the betting handle itself increasing by 19.2 percent to $343.7 million.

After accounting for promotional expenditures, the adjusted gross receipts continued the upward trend. The iGaming market saw a 31.2 percent rise, reaching $206.8 million. Online casinos contributed a substantial $178.7 million, up 31.9 percent, while sports betting adjusted receipts grew by 27.7 percent to $28.1 million. These figures encompass activities across both commercial and tribal operators.

Commercial operators contributed a hefty $38.8 million in taxes and payments to Michigan’s coffers, with iGaming generating $37.0 million and sports betting adding another $1.8 million. Tribal operators also played their part, reporting $4.5 million in payments to governing bodies.

Detroit’s trio of commercial casinos mirrored the online sector’s success, posting a 7.2 percent year-on-year revenue increase to $113.2 million. This included $111.3 million from table games and slots, up 6.3 percent and $1.9 million from sports betting QAGR, which saw an impressive 80.1% surge. MGM maintained its dominance in Detroit with a 46% market share, followed by MotorCity at 31 percent, and Hollywood Casino at Greektown holding 23 percent.

Amidst this financial success, the MGCB took regulatory action, issuing a cease-and-desist order to Curaçao-based Bovada. The board accused Harp Media BV, Bovada’s operator, of allowing access to its Bovada.com and Bovada.lv sites for Michigan residents without the necessary licensing, underscoring the state’s commitment to regulated and lawful gaming practices. This move highlights the importance of compliance in an industry experiencing exponential growth and transformation.

Find out more about  to be held in Budapest.

In a recent interview conducted by Maria Debrincat for SiGMA, Nicky Gouder, a partner at Seed and the Chief Business Development Officer at Binderr, opened up about his approach to philanthropy and his role in supporting meaningful projects through the .

Nicky Gouder's journey in philanthropy is marked by a deep-seated desire to challenge the status quo. "The status quo is something that annoys me," he remarked, emphasising his "drive to innovate" and make a tangible difference. Doing things differently is the principle that guides his decisions and actions, in all aspects of his life, he explained.

Finding the right project to invest time and resources into was initially a challenge for Gouder. During the interview, he discussed the importance of trust in the projects he supports and the need for transparent information about their outcomes.

His decision to collaborate with the SiGMA Foundation stemmed from a strong belief in the integrity of the projects and the people involved, particularly citing his long-standing relationship with Keith Marshall, Chief Philanthropy Officer and co-founder of the SiGMA Foundation.

Among the projects that resonated deeply with Nicky Gouder is the SiGMA Foundation's initiative focused on . Among other initiatives, the foundation financed tailored programs in IT, cookery, sewing, and hairdressing, benefiting hundreds of women annually, helping them achieve employment and financial independence. Gouder emphasised that the foundation's ultimate goal is to support communities in a sustainable manner, ensuring that initiatives are not short-term fixes but long-term investments in building a brighter future.

Central to Gouder's philanthropic philosophy is the idea of fostering independence rather than fostering dependence on donations. He believes in using resources to empower individuals, equipping them with the skills and capabilities needed to thrive independently.

Acknowledging that he may not always fully understand the needs on the ground, Gouder stressed the importance of listening to those who are directly involved and have a real understanding of the local context. This approach ensures that the foundation's efforts are aligned with the actual needs of the communities they serve.

Reflecting on his involvement with philanthropic projects, Gouder finds personal fulfilment in witnessing successful project outcomes. He views the positive transformation in communities as the ultimate reward for his contributions, reinforcing his commitment to making a meaningful difference, and challenging the status quo even further.

Upcoming SiGMA event: The  2024 will be held in Budapest this September.

In a move that could bring relief to India's online gaming industry, the Union Finance Ministry has proposed an amendment to the Central Goods and Services Tax (CGST) Act, 2017. The proposed amendment involves the introduction of a new Section 11A, which would allow the central government to "not recover the GST not levied or short-levied as a result of general practice." This proposal will be discussed at the upcoming federal GST Council meeting scheduled for June 22nd in New Delhi.  

If accepted, this amendment could lead to the non-recovery of the 28 percent GST on e-gaming, casinos, and horse racing. Industry stakeholders have expressed concerns about the previous tax decision, which they say was implemented without clear guidelines and has led to significant financial challenges.  

The proposed amendment aims to regularize past practices where GST was not fully applied, thereby preventing retrospective tax demands that could financially harm companies. This change could ensure that companies are not held liable for GST that was not levied due to common industry practices.  

The Law Committee's recommendations highlight the importance of legitimising these past practices to avoid financial instability within the sector. However, it is important to note that the proposed changes do not provide for refunds of any excess GST paid due to these practices. This means that while future compliance may become clearer and disputes may be reduced, companies will still bear the burden of any overpaid taxes.  

's GST Council will also address the significant demand notices issued to approximately 80 online gaming companies in India. These demand notices have been a major point of contention, with the industry arguing that the retrospective application of such taxes could lead to severe financial consequences.  

The 52nd GST Council meeting in October 2023 had already set a 28 percent GST on the initial bet amount, with a review pending. Despite industry pushback, sources indicate that the government is likely to maintain its current stance on taxation, citing substantial increases in tax revenue and regulatory benefits since the new regime's implementation. Since October 2023, GST collections from online gaming have surged by 400 percent, reaching an average of Rs. 1,200 crore (€133,889) per month. 

Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming  Summit happening in Budapest from 2 – 4 September.