UKGC and Portugal’s SRIJ Agree to Work Together on Regulation
Published on by Andrew Mills
The UK Gambling Commission (UKGC) has announced that it has signed a Memorandum of Understanding with Portuguese gambling regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) which means the two will agree to share and exchange information.The main purpose of the agreement, which was signed by SRIJ Vice Chair Teresa Monteiro and UKGC Chief Executive Sarah Harrison, is to strengthen the effectiveness of regulations on gambling and to further crack down on illegal gambling activities through the adaptation of existing procedures.
Shared goal
The two counties have stated that they share the same goal when it comes to combatting criminal activities within the gambling industry.There is also a mutual necessity to protect those in both nations who are at risk of gambling addiction and exploitation.
EEA policy
The Memorandum of Understanding echoes the cooperation agreement signed by members of the States of the European Economic Area last year.The landmark agreement marks the first occasion in which two European States have reached such a deal to adapt regulation, and stands as an important reminder in the current climate that leaving the EU does not take away countries ability to make deals together over regulation and the adaptation of it.
Portugal reopens
Portugal’s market has been closed since last Spring, but as of May 2016 the market has been open again, after SRIJ allowed Betclic Everest Group to start operating Sports Betting. This is the first license that has been granted since the implementation of Portugal’s new regulated online gambling market.UK Gambling Commission Direct of Regulation Nick Tofiluk made it clear that the UK has every intention and desire of working with other countries to more effectively regulate the gambling industry, something that is shown by the agreement with Portugal.