8
Jun

As a player…Be responsible

Escrito el 8 junio 2012 por Law School en IE Law School News

On the 4thth of June, the closing of the 1st edition of the Gaming Sector Program took place. The Program was sponsored by Fundación Codere, Accenture and LOYRA Abogados and led by Cristina Romero, Lawyer and Partner of LOYRA Abogados.

During the Program, Ie Law School has had the pleasure of working with a highly qualified and experienced faculty, with professionals coming from the main companies in the gaming industry, professors of tax and administrative law, marketing and social media experts, and even psychiatrists who shared their approach on “the gaming and gambling business”.

Since December 2010, when an early draft of the Law regulating “remote” gaming appeared (current Law 13/2011, of 27 May, of Gambling Regulation), the interest in an industry, ignored and stigmatized until then , has kept growing encouraged by the attempt (subsequently failed) of entering the Spanish Stock market, which until now has been controlled by the Spanish National Lottery.

The exorbitant business revenues showed by the so-called “online operators” began to spread. They offered cross border gambling and betting on Spanish territory via internet (mostly from tax havens), unlicensed, untaxed, without ensuring the protection of players and breaching the prohibition contained in the Spanish Regulation.

Thus, with the enactment of the Law 13/2011, a mad dash “for licenses” and many questions of interpretation, some delays, spurious regulation, rumors, payment of unpaid taxes harried through, media chatter and some other lawsuit started. On the 1st of June, a new chapter in history has opened with the licensing of gaming to several operators nationwide.

Understanding and handling this regulation, with its particular idiosyncrasies, has become a herculean task that has been analyzed throughout the Program. The gambling industry needs to be analyzed in depth and with rigor, veering away from demagogy and blogs and media exercises if a full understanding wants to be accomplished. This is because this phenomenon is not innocuous, it requires dimensioning and it   is as old as man himself. Gambling exist, whether we want it or not, this is a reality that must be addressed responsibly from a regulatory, social, political and business point of view.  

With a little bit of luck, the next edition of the program will be able to better judge this dimension of the Industry and celebrate the end of the stage of “darkness.”

The regulation of a market is always good news for lawyers and politicians, even if the regulation is made quickly and lacking in depth. We have time to amend errors and what a better way than teaching and studying it?

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