Ireland’s first gambling regulator appointed to oversee developing gambling market
Gambling is a flourishing sector in many parts of the world and certainly seems to have caught on in Ireland lately. It is now a multi-billion euro industry that appeals to many people around the country. Its popularity seems to rest not only on the range of fun games available to enjoy at private gambling clubs around Ireland but also the number of safe online casinos now available to sign-up with for Irish gamblers.
The rise of the country’s gambling sector has been a rapid one in the last 10 years or so, which has seen officials keen to modernise regulation of the industry. With this in mind, the recent appointment of Anne Marie Caulfield as Ireland’s first ever Gambling Regulatory Authority CEO made headlines.
New gambling regulator for Ireland
Having the right regulations, rules and organisations in place to protect Irish gamblers can only be a good thing for the whole sector. It will mean people feel comfortable enough to sign-up with online casinos and trust their money and personal details with them.
As such, news of Ann Marie Caulfield’s appointment was met with a positive reaction. Sanna Heinonen from top Irish iGaming comparison site Irishluck commented: “We welcome the new Gambling Regulatory Authority of Ireland CEO into her role and look forward to the improvements she can bring to the country’s developing gambling sector.”
Ireland’s gambling industry is rising fast
The recent development of Ireland’s gambling sector is clear to see when you look at the evidence. Casino game apps in Ireland for example are predicted to reach $7.79m in revenue this year and see a 10.58% growth rate by 2026. In addition, the country’s general online casino sector saw a 38% increase in the amount of people signing up to play and an estimated $10m gambled each year at online casinos. Figures like this show just how quickly the industry is moving forward.
This is something of a change to the traditional way most Irish people liked to bet in the past, when sports betting was the go-to choice. Although the raft of land-based private gaming clubs which legally sprang up after the Gaming and Lotteries Act 1956 saw a move towards casino play, it is the recent surge in demand for online casino games in Ireland which has made waves.
When will Anne Marie Caulfield step into her new role?
The relative youth of the online casino sector in Ireland means that it is an area of gambling in the country which is still emerging to a certain extent. This means that officials in Ireland are keen to regulate the sector more in order to safeguard players.
This will essentially be the main job of the Irish Gambling Regulatory Authority and Caulfield will be the main driver of this as CEO. As a brand-new industry body in the country, it has not yet been established fully and this means Caulfield will not be taking up her new role immediately. It is expected that she will take up her new position in 2023, when the authority itself will also be ready to open its doors.
Why is more regulation needed for Ireland’s developing gambling industry?
Current legislation has not really kept pace with the emerging iGaming sector and much talked about reforms of Ireland’s gambling laws now seem more urgent than ever. There now seems to real appetite for this to happen and the appointment of Ireland's first ever gambling regulator confirms this.
It is hoped that more regulation of the emerging Irish gambling market will not only protect iGamers but also stop unregulated casino sites from operating in Ireland. The new authority will have the power to fine any gambling providers who do not comply with legislation in the country. It is also expected that the authority will be able to legalize land-based casinos in Ireland and regulate them moving ahead.
Responsible gambling
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Gideon Wood - info@responsibleentertainment.com
Responsible Entertainment Limited is a news-and-marketing based company dedicated to divulging key industry information related to the iGaming and sports betting sectors.
