Online Casino Transfer: News - Details for Regulation Overhaul

02/01/2010		Online Casino Style: News Details for Regulation Overhaul
Home History Games News Dictionary		Additional details have become available in relation to the recent announcement that the Kahneawake Gaming Commission has solicited eCOGRA (e-Commerce Online Gaming Regulation and Assurance) to assist in their efforts to boost and enforce new standards of regulation in their Canadian internet gambling market. A statement was released by the Commission’s chairman, Dean Montour, who committed his region to enforcing the highest standards the online gambling community can subscribe to, and surpassing the legal minimums set by international law. They have solicited the third-party auditor eCOGRA to help them get on the right track; the group will analyze a minimum of 55 internet casino operators in the Mohawk jurisdiction. All player and company information will be held in the strictest confidence while the regulation changes take place, the Commission has promised involved parties. Their new Continuous Compliance Program includes three principal elements: firstly, licensees will be assessed yearly to ensure full compliance with regulations regarding money laundering, player protection, complaints and dispute resolution, responsible online gambling, prizes and promises, records, reports and advertising; secondly, key regulatory objectives will have had to be met according to annual updates; finally, live gaming data from applicable internet casinos will be subject to constant and random analysis to ensure that all gaming is fair and random, that player ratios are accurate, and operational data is continuously monitored. A similar program has been implemented in Europe since 2007, and has proved “very successful,” having just completed their third compliance cycle. The CEO for eCOGRA released a statement as well in response to their new contract, with Andrew Beveridge saying the following about the project: “The KGC and its licensees have demonstrated a great determination to achieve best practice standards, and we respect the commitment that has so far been shown. We look forward to the considerable task ahead and have almost completed 4 initial test reviews that have generated enthusiastic feedback from the operators concerned. The most important aspect of this program is that players will be safer, and that can only be to the credit of the industry."

02/01/2010

Online Casino Style: News
Details for Regulation Overhaul

Additional details have become available in relation to the recent announcement that the Kahneawake Gaming Commission has solicited eCOGRA (e-Commerce Online Gaming Regulation and Assurance) to assist in their efforts to boost and enforce new standards of regulation in their Canadian internet gambling market. A statement was released by the Commission’s chairman, Dean Montour, who committed his region to enforcing the highest standards the online gambling community can subscribe to, and surpassing the legal minimums set by international law. They have solicited the third-party auditor eCOGRA to help them get on the right track; the group will analyze a minimum of 55 internet casino operators in the Mohawk jurisdiction.

All player and company information will be held in the strictest confidence while the regulation changes take place, the Commission has promised involved parties. Their new Continuous Compliance Program includes three principal elements: firstly, licensees will be assessed yearly to ensure full compliance with regulations regarding money laundering, player protection, complaints and dispute resolution, responsible online gambling, prizes and promises, records, reports and advertising; secondly, key regulatory objectives will have had to be met according to annual updates; finally, live gaming data from applicable internet casinos will be subject to constant and random analysis to ensure that all gaming is fair and random, that player ratios are accurate, and operational data is continuously monitored.

A similar program has been implemented in Europe since 2007, and has proved “very successful,” having just completed their third compliance cycle. The CEO for eCOGRA released a statement as well in response to their new contract, with Andrew Beveridge saying the following about the project: “The KGC and its licensees have demonstrated a great determination to achieve best practice standards, and we respect the commitment that has so far been shown. We look forward to the considerable task ahead and have almost completed 4 initial test reviews that have generated enthusiastic feedback from the operators concerned. The most important aspect of this program is that players will be safer, and that can only be to the credit of the industry."