Angola authorizes betting and online gambling with licenses for 10 years

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Greek gaming regulator Hellenic Gaming Commission has opened the application process for new online gaming licenses. Orders can now be placed by legal entities, including shareholders, executives, technology suppliers and certification bodies. The Greek Ministry of Economy presented its draft regulation on gambling to the European Commission in January , after being approved by parliament in October last year. Each will be valid for seven years.

Online Gambling Licensing Process Begins in Greece

Among the various conditions imposed on interested companies, they will have to have a bank account with an Angolan financial institution, as well as identify all their shareholders. It is also mentioned that the payment of the prizes will be made in national currency kwanza and through bank transfers. The new regulation establishes that the entities will have to install and maintain a technical system for the exploitation of online gaming and betting, create a registration and an account for each player, define the bonus allocation policy, as well as pay the prizes in the amount informed. Companies are also required to have a bank account at an Angolan financial institution, at a national address, for all transactions related to the activity of online gambling and betting, as well as ensuring compliance with current Angolan laws on the prevention of money laundering and financing of terrorism. The regulation also states that the totality of the share capitular of the exploiting entities must be represented by shares, which allow the issuer of the license to know the identity of the respective holders, being obligatory the communication to the body responsible for the supervision of games all acts or businesses that imply the acquisition, transmission or encumbrance of these shares within 30 days, counting from the date on which the company became aware of the act or business in question. Regarding the registration of players, the operating entities are obliged to have their personal data, namely full name, date of birth, nationality, profession, address and residence, ticket or passport number, as well as tax identification, e-mail address and bank account elements for payments.

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