The Swedish Gambling Authority (Spelinspektionen) has issued a response to the Finance Department regarding a memorandum on a proposed new ban on credit gambling (Fi2024/00442).

In its response, the Swedish authority declares its support to the proposed credit gambling ban. It agrees with the prohibition for license holders and gambling agents to facilitate or allow payments for gambling with credit cards. The ban is intended to cover all forms of licensed gambling, and the Authority is in favour of being able to grant exceptions in specific cases.

Spelinspektionen points out that the memorandum lacks an analysis of how the ban on credit card payments would affect charitable lotteries that sell tickets digitally. According to the ban lotteries would have to ensure that payments are not made with credit cards or financed by third-party credit at the time of purchase. As such, the Authority is concerned about the potential impact on these lotteries and suggests that this issue requires further examination.

In its response, the Authority clarifies that while the proposal prevents players from using credit cards to pay for gambling, it does not interpret the proposal as requiring license holders and gambling agents to verify if a debit card is being used with a credit facility at every transaction. Spelinspektionen suggests that the scope regarding debit cards with credit facilities could be more precisely articulated to avoid confusion.

The Authority endorses the proposal to grant it the power to issue regulations concerning the action plans that license holders must develop under Chapter 14, Section 1 of the Swedish Gambling Act. This would give the Authority more control over ensuring that license holders comply with the requirements to prevent credit gambling.

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Macau welcomed approximately 2.6 million visitors last month, representing about 76 percent of the visitor numbers from the same month in 2019. Despite a monthly decline of 4.4 percent, there was a significant yearly increase of 14.4 percent, highlighting a recovery trend in tourism.  

Based on the from the Statistics and Census Service, Macau faces challenges in extending visitor stays, with same-day visits reaching 1.35 million, a 23 percent increase from the previous year. In contrast, overnight visitors totalled 1.25 million, marking a modest yearly rise of 6.3 percent. The higher rate of same-day visits indicates a need for strategies to encourage longer stays. 

Mainland China remains the largest source of visitors, contributing 1.73 million arrivals in April, a 25.3 percent increase from the previous year. However, the number of visitors traveling under the Individual Visit Scheme (IVS) saw a slight yearly decline of 3 percent, totalling 793,351. 

Hong Kong visitor numbers decreased by 22 percent year-on-year, down to 581,646. In contrast, Taiwan saw a substantial increase in visitors, up 120.6 percent to 73,460. Compared to 2019, visitation from mainland China, Hong Kong, and Taiwan reached 74.2 percent, 83.5 percent, and 80 percent, respectively, indicating varying degrees of recovery across these regions. 

's efforts to boost international tourism are yielding positive results, with international visitor numbers rising by 92 percent year-on-year to 208,297, or about 89 percent of April 2019 levels. South Korea contributed nearly 38,000 visitors, approximately 61 percent of pre-pandemic levels, while the Philippines accounted for 35,800 visitors, about 87 percent of the 2019 figures. 

From January to April 2024, Macau recorded a total of 11.47 million visitors, achieving about 83 percent of the visitor numbers seen in the same period of 2019. This data reflects a strong recovery trajectory, although it also underscores the need for continuous efforts to fully restore tourism to pre-pandemic levels.  

Macau's visitor statistics for April 2024 indicate a significant recovery in tourism, driven by increases in both same-day and overnight visits, particularly from mainland China and Taiwan. The substantial growth in international visitors highlights the success of 's efforts to attract tourists from diverse regions. However, the disparity between same-day and overnight visitors suggests that further initiatives are needed to encourage longer stays and enhance overall tourism revenue. 

The latest  sportsbook report for the first quarter of 2024 reveals a significant shift towards real-time betting among sports bettors. This trend, which boosts engagement and offers higher margins and faster capital turnover for operators, underscores the profitability of live betting in the sports betting industry. 

According to the report, the transition from desktop to mobile betting continues to accelerate, with mobile devices now accounting for 90 percent of Gross Gaming Revenue (GGR), up from 86 percent a year ago. This growth highlights the crucial role of mobile-friendly betting solutions in the market. Operators focusing on mobile integration and user experience are well-positioned to capture a larger market share, reflecting the changing dynamics in consumer behaviour. 

The report also said that traditional sports remain popular among bettors, with some shifts in preference. Football continues to lead in revenue, while tennis has moved ahead of basketball to claim the second spot. The Super Bowl's influence is evident, as American football has entered the top five, showcasing the impact of major events on betting patterns. Ice hockey maintains its strong appeal, indicating consistent interest from the betting community. 

SOFTSWISS Sportsbook has shown remarkable growth in Q1 2024. Trading volume increased by 246 percent compared to Q1 2023, and revenue surged by 251 percent year-over-year. The platform also recorded consistent month-on-month growth of 136 percent in Q4 2023, highlighting its rising popularity and efficiency. 

Alexander Kamenetskyi, Director of SOFTSWISS Sportsbook, remarked, “The trends we observe in the first quarter of 2024 emphasise the adaptability and growth of our platform while highlighting the critical dynamics of player preferences and technological advancements.”  

The Q1 2024 report from SOFTSWISS Sportsbook underscores significant trends in the , particularly the growing dominance of live and mobile betting. As the platform continues to expand and adapt to changing market demands, its focus on enhancing user experience and providing innovative tools for operators positions it for sustained success in the dynamic sports betting landscape. 

The future of crypto sports betting is looking bright with the increasing adoption of cryptocurrency in online wagering. The advantages of using cryptocurrency for sports wagers are being recognized by more and more bettors, leading to a surge in the popularity of

Blockchain capabilities promise a revolutionized user experience, with smart contracts automating payouts while eliminating intermediaries, thus further reducing transaction fees. This, coupled with the rise of esports betting opportunities, is expected to cater to a new audience that is projected to grow exponentially over time.

There are several success stories related to crypto sports betting that highlight the impact of cryptocurrency adoption in this industry. Crypto-enabled platforms are certainly gaining traction in sports betting. One such example is the Web3 Betting Platform, which has led the revolution in the adoption of cryptocurrencies in sports betting. It offers a seamless, decentralized betting experience, replacing the traditional systems of sportsbooks. The platform has experienced a staggering 30 percent year-over-year growth in 2024.

Another platform, CHIPS.GG, has successfully incorporated real stories from their community to explore the dynamic world where cryptocurrency meets sports betting. They offer unique betting options and bonuses, making them increasingly attractive to bettors.

In addition, major betting platforms around the world, such as BetOnline, Bovada, and MyBookie, have started accepting like Bitcoin. This significant shift towards cryptocurrency is a testament to its growing influence in the sports betting industry.

These platforms offer a comprehensive online betting solution, with a diverse range of betting options and superior user experiences. They are also leveraging the benefits of blockchain technology, such as data permanency and transparency throughout the entire betting process.

Using cryptocurrency in sports betting comes with potential risks and challenges.

Volatility Risk: Cryptocurrency prices fluctuate frequently, sometimes wildly. The dollar value of bets and winnings could change drastically and unpredictably.

Decentralization Tradeoffs: The decentralized nature of cryptocurrencies means no central authority governs transactions or the storage of assets1. This can lead to issues with dispute resolution and accountability.

Fraud/Security Concerns: While blockchain technology ensures secure, transparent, and tamper-proof record-keeping, the unregulated environment has allowed various frauds. It’s crucial to conduct thorough research and choose reputable platforms.

Unclear Legality: The legal status of cryptocurrency varies by country, and regulatory changes can significantly impact market stability. It’s important to understand the legal implications of using cryptocurrency for sports betting in your jurisdiction.

Steep learning curve: Although cryptocurrencies and blockchain technology is revolutionizing the sports betting industry at a remarkable speed, understanding how to use cryptocurrency can be complex. Platforms enabled by cryptocurrency will certainly influence the future of online sports betting worldwide.

The benefits of utilizing cryptocurrency in sports betting, together with the potential of blockchain technology, make this an exciting era to participate in this rapidly changing market.

DraftKings and FanDuel have emerged as frontrunners in New Jersey, contributing to the state’s second-highest monthly revenue ever. The revenue figures for New Jersey’s online casinos reveal an impressive total of $187.9 million, falling just short of March’s record-breaking $197.2 million.

This figure, while being the second-highest, also marks an 18.2 percent increase year-over-year. In the first four months alone, New Jersey has amassed over three-quarters of a billion dollars, totalling $750.7 million. This is a significant 21.2 percent increase compared to the previous year, which saw a total revenue of $1.92 billion. The state is currently on track to exceed $2.2 billion in revenue this year, surpassing the single-year record of $1.92 billion set in 2023 and the previous record of $1.66 billion in 2022.

In terms of taxation, the state has collected nearly $113 million, with $28.3 million accrued in April alone. The tax rates in New Jersey vary depending on the type of gaming venue, with retail casinos taxed at 8 percent, online sports betting at 13 percent, retail sports betting at 8%, and online casino play at 15 percent.

Examining the top licencees, Golden Nugget Atlantic City leads the pack with over $53 million in revenue. However, Caesars Interactive was the only licensee that failed to meet the $1 million mark.

DraftKings led with $39,238,978, closely followed by FanDuel with $39,063,216. Together, DraftKings and FanDuel accounted for nearly 42 percent of the state’s revenue, outperforming the combined total of the next seven online casinos. Five other online casinos, including BetMGM, Borgata, and Caesars Palace, reported revenues in the eight digits. On the other end of the spectrum, Unibet, which is withdrawing from the United States, reported a loss of more than $6,000, while Jackpot City, a newer online casino, reported just over $25,000 in revenue.

The tax structure for online gambling in New Jersey is quite straightforward and is designed to ensure fair and regulated gambling activities. Here are the key points:

Tax on Winnings: All gambling winnings, including those from online sources, are considered taxable income. Therefore, you are required to report these winnings to the Internal Revenue Service when you file your tax returns.

Tax Rates: The tax rates vary depending on the type of gaming venue:

✅ Retail casinos are taxed at 8 percent.

✅ Online sports betting is taxed at 13 percent.

✅ Retail sports betting is taxed at 8 percent.

✅ Online casino play is taxed at 15 percent.

Thresholds for IRS Notification: The IRS is not notified unless you win an amount that exceeds certain prescribed thresholds. These thresholds vary depending on the form of gambling that generated the win.

State Tax Withholding: For federal taxes, NJ sportsbooks are required to withhold 28 percent of the winnings if you win $5,000 or more. On the state level, if you win more than $10,000 in a single jackpot, the payer will withhold 3 percent to comply with state laws.

Income Tax Brackets: On the state level, there are seven income tax brackets, ranging from 1.4 percent for the lowest income earners up to 10.75 percent for those at the top of the scale.

Group Gambling Winnings: If a group of people pool their resources for gambling, the paying entity will submit Form 5754 to the IRS when they are filing the W-2G. The IRS will then know that multiple people will be responsible for individual portions of the income.