Law 18-05 bans gambling e-commerce
Forecloses any online operator legal basis.
SRC-DZ-007
Attempting private lottery operation
Lottery and pool-betting are constitutionally reserved to the state.
SRC-AR-006
Offering online lottery (non-instant)
State monopoly since Feb 2021.
SRC-BG-003
UBO from sanctioned jurisdiction (e.g. Russia, Iran)
Ineligibility; application rejection.
SRC-CW-009
Admitting Egyptians to hotel casinos
Carve-out is foreigner-only; admitting locals breaches the exception.
SRC-EG-006
Casino, poker, online casino all prohibited
No legal market for these verticals; all are Cap. 148 offences.
SRC-CN-HK-001
Offering online casino to HK residents
Prohibited under Cap. 148; no licensing avenue
SRC-HK-007
Offering online casino (iGaming)
iGaming is not legal in Indiana; prohibited.
SRC-US-IN-010
Running Google/Meta gambling ads in Italy
Effectively prohibited by Decreto Dignità.
SRC-IT-003
Marketing mass-market online gambling to Macao or via Macao to mainland China
No online mass-market licence exists; offshore online targeting the mainland is an enforcement target.
SRC-CN-MO-001
Offering sports-related event/prediction-market contracts
MGC formally prohibited this in Nov 2025 with revocation risk.
SRC-US-MA-005
Private sports betting
KSPO holds exclusive monopoly.
SRC-KR-001
Serving LK residents via offshore unlicensed site
Explicitly illegal post-1 Dec 2025; GRA may block and prosecute.
SRC-LK-006
Offering iGaming/online casino
iGaming is not legal in Tennessee.
SRC-US-TN-009
Online gambling explicitly prohibited
Offshore platforms serving Thai players are unlawful and actively blocked.
SRC-TH-006
Promosport exclusivity in betting & lottery
No competitive entry in betting/lottery
SRC-TN-004
Offering online casino games
iGaming remains prohibited after 2026 bills failed.
SRC-US-VA-012
No local SA/SRL entity per province
A local entity is required per province.
SRC-AR-012
Underpricing the illegal-market headwind
Illegal sites are estimated to dominate the market, eroding licensed channel share.
SRC-AR-010
Compact non-compliance
Tribal operators face concurrent tribal commission and NIGC oversight.
SRC-US-AZ-001
No B2B pathway (absent_no_pathway)
Software/platform supply has no lawful route and is facilitation.
SRC-BD-009
National Lottery monopoly
Online lottery reserved to state monopoly.
SRC-BE-004
Meta ads prohibited
Social ad platforms closed for gambling.
SRC-BE-003
Large persistent grey/offshore market
Channelisation competition undermines licensed margins.
SRC-BR-012
Launching crypto gambling targeting BC
Crypto gambling treated as prohibited.
SRC-CA-BC-009
Listing a private gambling app for BC users
No private gambling apps are authorised for BC residents.
SRC-CA-BC-009
Ignoring Cullen Commission AML context in BC operations
AML failings drove the reform; scrutiny is elevated.
SRC-CA-BC-011
Sweepstakes casino ban (PA 25-112)
Sweepstakes models prohibited from 1 Oct 2025.
SRC-US-CT-016
Entering domestic lottery
JPS holds a state monopoly.
SRC-CR-002
No Curaçao-resident managing director or local office
Mandatory substance condition; application failure.
SRC-CW-012
Acquiring a transitional shell with poor historic compliance record
Inherited liability can cause green-seal rejection.
SRC-CW-010
Population ~1M
Caps total addressable market regardless of structure.
SRC-US-DE-010
Single exclusive operator (BetRivers/RSI)
No competitive operator entry possible under exclusive contract.
SRC-US-DE-009
Offering sports betting to under-18s
SRC-DK-002
~50% channelisation
Large persistent offshore share threatens licensed economics.
SRC-FI-007
Unlicensed black-site proliferation
Untaxed competitors undercut licensed operators.
SRC-GH-008
Slot stake over £5/£2
Breach of mandatory licence condition.
SRC-GB-003
Prediction markets treated as illegal gambling
US-style prediction-market platforms (Polymarket, Kalshi) used for sports outcomes are unlawful in HK.
SRC-CN-HK-009
Online casino/poker legality uncertain but unsafe
Statute drafted for physical gambling; offering real-money online games carries prosecution risk.
SRC-CN-HK-007
No land-based casinos in HK
Casino entry requires relocation to Macau; not possible in HK.
SRC-CN-HK-007
Monopoly concentration = single counterparty
Any commercial relationship requires HKJC; no alternative.
SRC-CN-HK-012
Publishing gambling app/ads targeting HK
Ad platforms and app stores restrict; promotion of unauthorised gambling criminalised
SRC-HK-007
Launching mixed skill/chance product
Broad statutory 'gaming' definition captures mixed skill/chance
SRC-HK-010
Supplying platform/software to a HK gambling operator
No B2B licensing pathway; HKJC vertically integrated
SRC-HK-007
Esports betting product targeting HK
SRC-HK-007
App-store listing of money games
Prohibited; removable via blocking.
SRC-IN-001
Operating online poker
Online poker is not authorised.
SRC-US-IN-010
Operating dual/multi-currency sweepstakes casino post 1 July 2026
HB 1052 classifies the vertical as illegal gambling from that date.
SRC-US-IN-011
Crypto-gambling offering
No IGC-approved crypto pathway exists.
SRC-US-IN-010
Selling lottery products outside Hoosier Lottery monopoly
Lottery is monopolised; iLottery not yet enacted.
SRC-US-IN-012
PSE registration enforcement (Cloudflare warning)
Infrastructure providers face access termination.
SRC-ID-004
Supplying software to operators targeting PK
No B2B pathway exists; supply facilitates unlawful gambling.
SRC-PK-001
Affiliate marketing of gambling
Affiliates cannot lawfully advertise gambling.
SRC-IT-003
Distributing real-money gambling apps to JP users
App stores do not permit them; the Sep 2025 amendment bans new online casino apps.
SRC-JP-008
Offering online poker
Online poker remains outside the legal licensing perimeter.
SRC-KZ-006
Majority Latvian/EU ownership; non-EU capped at 49%
Limits structuring for non-EU groups.
SRC-LV-011
Small market; online GGR ~10x below Estonia
Standalone Latvia entry rarely justifies fixed costs.
SRC-LV-012
Reliance on legacy VIP/junket revenue model
Beijing's capital-outflow crackdown decimated the junket sector; the market pivoted to premium-mass.
SRC-CN-MO-003
Third-party satellite-floor revenue-share arrangements
Satellite casinos were eliminated; consolidation ended 31 December 2025.
SRC-CN-MO-010
Failing investment / non-gaming diversification commitments
Article-22 three-year review assesses fulfilment of contractual targets.
SRC-CN-MO-008
Offering online poker
Online poker is not legalised in MA.
SRC-US-MA-007
Lottery-style products outside the State Lottery
Lottery is a state monopoly.
SRC-US-MA-001
Crypto gambling
No MGC-approved pathway for crypto gambling.
SRC-US-MA-001
Supplying wagering-affecting services without supplier licence
R 432.623 requires supplier licensing.
SRC-US-MI-008
Offering lottery products outside Lottery Bureau
Lottery is a state monopoly carved out of LIGA.
SRC-US-MI-002
Single legal operator (MDJS) per vertical
Monopoly concentration; no competitive entry.
SRC-MA-008
Supplying gaming software to local operators online
No B2B pathway; supply for online gambling prohibited.
SRC-NP-003
Offering crypto gambling to NB residents
Outside monopoly authorisation; prohibited though unenforced.
SRC-CA-NB-001
Offering racing/sports betting to NZ residents
TAB NZ monopoly; offshore bookmakers banned since 27 June 2025.
SRC-NZ-002
Offering lottery-like products competing with Lotto NZ
Licences will not be granted for products substantially similar to protected lotteries.
SRC-NZ-004
App-store and ad-platform closure
No legitimate distribution channels for offshore operators.
SRC-NO-011
Unlicensed brick-and-mortar venue
Coordinated raids conducted on unlicensed betting houses.
SRC-PE-007
Supplying without PAGCOR accreditation
Operators prohibited from using unaccredited vendors from Q1 2026.
SRC-PH-010
EU/EEA operator without a Polish branch/representative
Branch/representative required for non-PL entities
SRC-PL-010
No private app distribution to QC residents
App-store and platform routes closed.
SRC-CA-QC-008
Affiliate marketing prohibited for unlicensed operators
Affiliate acquisition is unlawful.
SRC-CA-QC-001
No B2B licensing pathway
Suppliers cannot license to private operators.
SRC-CA-QC-001
Software supply to KR-facing operator
No B2B pathway; prohibited.
SRC-KR-002
Crypto gambling targeting KR
Prohibited; AML predicate.
SRC-KR-010
Game-money to cash conversion
Crosses GIPA gambling line.
SRC-KR-002
Admitting Korean nationals to foreigner-only casino
Breach of Tourism Promotion Act licence.
SRC-KR-004
Private horse-race betting
KRA holds sole authority.
SRC-KR-013
Private lottery
SRC-KR-004
~1.1M population
Tiny addressable market caps absolute revenue.
SRC-US-RI-004
Monopoly/near-monopoly structure
Only one iGaming and (until Nov 2026) one sports operator.
SRC-US-RI-009
Court of Accounts found ~€1bn lost revenue / ONJN IT failures
Regulator under political pressure to tighten and recover.
SRC-RO-008
Expatriate staff involvement in gambling
Typically results in deportation and permanent re-entry ban.
SRC-SA-008
Assuming a state-lottery carve-out exists
Unlike CN/VN/KR, Saudi Arabia has NO state-lottery exception.
SRC-SA-001
Supplying gambling software to any Saudi-facing entity
No B2B pathway; supply is facilitation of a criminal activity.
SRC-SA-009
Jackpot game without annual UIS approval
Jackpots require per-operator annual approval and certification.
SRC-RS-002
Online casino/poker never permitted
No pathway even for exempt operators.
SRC-SG-010
No B2B supplier licence class
Supplying private operators serving SG is exposed.
SRC-SG-002
Offshore black-market persistence
Channelisation undermined by anonymous offshore sites.
SRC-SK-007
Distributing gambling apps via Apple/Google in VN
Decree 147/2024 compels removal of violating apps.
SRC-VN-007
Selling lottery online or proxy-buying foreign lottery
MOF declared online lottery sale and proxy-buying illegal.
SRC-VN-008
Supplying gambling platform/software locally
No B2B agrément exists; supply implicates organising-gambling liability.
SRC-VN-001
Offering online poker / cash games to locals
Card games of chance for money are explicitly banned.
SRC-VN-007
Allowing non-qualifying Vietnamese nationals to gamble
Pilot access is tightly conditioned (21+, income, ticket).
SRC-VN-001
Non-EEA incorporation
Applicants must be EEA-established as SA or equivalent.
SRC-ES-012
Offering unregulated game types
Only games within statutory definitions may be offered.
SRC-ES-006
Foreign entity without local registration
Only locally-incorporated/registered companies may hold a licence.
SRC-LK-007
Competing with NLB/DLB lottery monopoly
Lotteries reserved to state boards; private lottery prohibited.
SRC-LK-007
Offering lottery outside monopoly/charity reservation
Lottery reserved to state/public-benefit sector.
SRC-SE-008
Chance-based prop wagers
Predominantly-chance props prohibited under Article XI, Section 5 of the Tennessee Constitution.
SRC-US-TN-001
Sports-related prediction-market contracts
SWC ordered Kalshi, Polymarket and Crypto.com to cease in January 2026.
SRC-US-TN-008
Offering online poker
Online poker is not legal; no MSIGA participation.
SRC-US-TN-009
Crypto gambling pathway assumed
No SWC-approved crypto gambling pathway.
SRC-US-TN-009
Offshore market >26% of interactive gross win
Significant leakage to unlicensed operators undermines licensed economics.
SRC-UG-006
Active unlicensed/black market
Offshore and crypto operators undercut licensed margins.
SRC-UA-006
Crypto gambling / sweepstakes / DFS
No GCGRA pathway; high criminal risk under Penal Code.
SRC-AE-001
Operating in tribal gaming areas without a compact
IGRA Class III requires a tribal-state compact and NIGC oversight.
SRC-US-004
Accepting wagers on in-state college teams
Statutorily prohibited; voids permit compliance.
SRC-US-VA-001
Undisclosed 5%+ owners
Beneficial-ownership disclosure mandatory.
SRC-US-VA-002
App stores exclude DZ gambling apps
No app distribution channel.
SRC-DZ-003
PSA/PMU sole authorised entities
No private participation possible in permitted channels.
SRC-DZ-005
Seeking a standalone B2B licence
No B2B pathway exists; suppliers must contract with B2C licensees.
SRC-AR-005
Grey market ~70-80% of online play
Channelisation failure signals weak monopoly effectiveness but high legal risk for offshore actors.
SRC-AT-004
Ad-platform and app-store restrictions for unlicensed offerings
Acquisition channels legally precarious.
SRC-AT-002
Gambling apps unavailable on Google Play / App Store for BD
Forces unsafe sideloading; no compliant distribution path.
SRC-BD-005
Treating fantasy sports as clearly legal
Fantasy sports occupy a grey zone in BC.
SRC-CA-BC-006
Assuming ministerial sign-off slows IGCO action
IGCO can issue binding directives without ministerial consent.
SRC-CA-BC-005
Overestimating addressable legal market
Only ~51% of online spend is captured legally; the rest is unlawful.
SRC-CA-BC-007
Offering sweepstakes-style products to BC residents
Sweepstakes treated as restricted.
SRC-CA-BC-009
No B2B supplier licence pathway
Suppliers have no clear route to supply locally-licensed operators.
SRC-CM-002
No B2B pathway
Suppliers have no licensing route to locally-licensed operators.
SRC-CL-006
No B2B pathway
Suppliers have no licensing route to locally-licensed operators.
SRC-CL-006
No B2B pathway
Suppliers have no licensing route to locally-licensed operators.
SRC-CL-006
Small population ~3.6M
Caps addressable market and growth.
SRC-US-CT-012
MSIGA participation unverified
Cross-state poker liquidity cannot be assumed.
SRC-US-CT-005
Crypto gambling has no approved pathway
No DCP-approved crypto gambling route.
SRC-US-CT-005
Skill/chance line drawn against pick'em
Skill-game framing rejected for pick'em formats.
SRC-US-CT-010
Planning App Store / Play distribution
No recognised licence — stores will not list CR-registered gambling apps.
SRC-CR-006
Lottery is state monopoly
Lottery products closed to private operators.
SRC-HR-002
B2B pathway unclear
Suppliers face uncertainty.
SRC-HR-001
Offshore EU sites reach players
Leakage to unlicensed channels.
SRC-HR-003
App distribution without monitoring blacklist
Blacklisted apps must be blocked; interface operators carry monitoring duties.
SRC-CZ-012
Underestimating incumbent concentration
Top five operators hold ~80% of GGR.
SRC-CZ-010
Neighbouring states (PA/MD) draw spend
Cross-border competition erodes Delaware sales.
SRC-US-DE-011
Land-based betting without Player ID
Anonymous land-based betting prohibited since 2021.
SRC-DK-002
Operating digital platform without local legal representative
Draft framework mandates accredited local legal representative for accountability.
SRC-EG-011
B2B software licence not yet available
Suppliers cannot license until July 2027; mandatory use July 2028.
SRC-FI-005
Veikkaus competes in open verticals
Incumbent with brand and data competes for online share.
SRC-FI-005
Ad-platform policy breach
Google/Meta restrict to licensed entities.
SRC-FR-003
Ad-platform policy breach
Google/Meta restrict to licensed entities.
SRC-FR-003
Ad-platform policy breach
Google/Meta restrict to licensed entities.
SRC-FR-003
Mandatory ≥10% Ghanaian ownership
Forces local JV structuring.
SRC-GH-006
No B2B licence pathway
Suppliers must route via licensed operators.
SRC-GH-005
Lottery monopolised under NLA
Lottery products reserved to state operator.
SRC-GH-011
GIPC US$500k minimum foreign capital
Additional foreign-investment capital floor.
SRC-GH-007
Failure to identify group accounts
WHG fined £82,687 August 2025.
SRC-GB-009
OPAP incumbent dominance
Strong domestic competitor.
SRC-GR-010
OPAP VLT monopoly (25,000 cap)
VLT channel closed to entrants.
SRC-GR-012
Large illegal market (HK$70-90bn basketball alone)
Sizeable unmet demand channelled to black market, but inaccessible legally.
SRC-CN-HK-008
Bets on local teams/HK matches banned
Even HKJC cannot offer betting on Hong Kong teams or locally-played matches.
SRC-CN-HK-006
Running a commercial lottery/sweepstake
Only narrow charitable/promotional lotteries licensed by OLA
SRC-HK-003
Paid fantasy sports targeting HK
Likely caught by broad gambling definition; prohibited
SRC-HK-010
Using HK HQ for offshore gambling ops
HQ legitimacy does not legalise gambling activity reaching HK residents
SRC-HK-008
Concession concentration (LVC Diamond)
Market dominated by politically connected concessionaire.
SRC-HU-012
Retail betting remains a state monopoly
Only online sports betting is open; retail is reserved to Szerencsejáték Zrt.
SRC-HU-005
Online poker reserved to casino concessionaires
Standalone online poker entry is closed.
SRC-HU-006
No standalone B2B supplier licence pathway
Suppliers appear only via operator systems-audit certification, not a licensable class.
SRC-HU-007
App stores restrict gambling apps for Iceland
Distribution channels closed for unlicensed apps.
SRC-IS-005
Google/Meta ad restrictions for Iceland gambling
Paid acquisition channels blocked.
SRC-IS-008
Offering esports/high-school/youth markets without IGC approval
IGC bans these markets absent specific approval.
SRC-US-IN-006
Prediction-market products marketed as betting
Contested legality; state regulators may treat as illegal gambling.
SRC-US-IN-004
Assuming state licence covers tribal-land operations
Pokagon reservation operates under compact/IGRA, not state licence.
SRC-US-IN-004
Offering pick'em DFS without compliant licensing
Pick'em/prediction DFS formats face evolving IGC scrutiny.
SRC-US-IN-004
App store removals
Apps unavailable on iOS/Google Play.
SRC-ID-004
Assuming a state-lottery carve-out exists
Pakistan has no state lottery; no carve-out from prohibition.
SRC-PK-001
Marketing a 'skill' product to evade the ban
Skill/chance line is applied through enforcement practice; risk is high.
SRC-PK-002
DO resident off-Island without OM
An on-Island Operations Manager is then required.
SRC-IM-007
DO resident off-Island without OM
An on-Island Operations Manager is then required.
SRC-IM-007
DO resident off-Island without OM
An on-Island Operations Manager is then required.
SRC-IM-007
RTI/temporary grouping not converted to limited company
Must convert before signing the new agreement.
SRC-IT-006
Seeking a standalone ADM B2B licence
No ADM B2B concession pathway exists; supply contracts only.
SRC-IT-004
Offering bingo or sweepstakes online
Prohibited products online.
SRC-KZ-002
Distributing unlicensed gambling apps
App-level blocking infrastructure exists.
SRC-KZ-010
Lottery reserved to state-owned Latvijas Loto
No private lottery pathway nationally.
SRC-LV-005
No clear standalone B2B operator licence
Supplier route relies on certification, not a B2B licence.
SRC-LV-002
24 hall closures after 2024 tax rise
Sector contraction signals fiscal-pressure risk.
SRC-LV-008
Failing key-employee suitability for compliance/legal/IT heads
2022 amendments designate top compliance/legal/IT roles as key employees requiring suitability.
SRC-CN-MO-002
Fit-and-proper UBO/key-person vetting
Application failure risk on probity grounds.
SRC-MT-008
Aggressive C&D enforcement; HB 295 ban pending
Sweepstakes operators face exit pressure and possible statutory ban in 2027.
SRC-US-MD-008
Kalshi active legal challenge by MD regulators
Regulatory uncertainty for prediction-market exposure.
SRC-US-MD-007
Wagering on MA collegiate teams outside tournaments
Prohibited under MGC catalog rules.
SRC-US-MA-001
Wagering on Russian/Belarusian-governed events
Not permitted in the Commonwealth.
SRC-US-MA-001
Operating dual-currency sweepstakes casinos
Grey-zone status; future legislation may criminalise the model.
SRC-US-MA-007
Offering pick'em-style fantasy contests
Pick'em contests restricted from 2023.
SRC-US-MI-012
Assuming MGCB authority over Indian-lands gaming
Tribal Class III gaming on Indian lands is carved out; NIGC governs.
SRC-US-MI-002
Operating sweepstakes casino with real prizes
Grey-zone; subject to evolving national regulatory pressure.
SRC-US-MI-013
App store distribution to MM
Apple/Google block gambling apps for MM.
SRC-MM-001
App-store listing for Nepal
Gambling apps unavailable; listings would breach policy and law.
SRC-NP-006
Treating NB independently of ALC four-province model
Online supply is inter-provincial via ALC.
SRC-CA-NB-011
Launching social/sweepstakes casino
Grey-zone status; legal ambiguity.
SRC-CA-NB-009
Daily fantasy sports operation
Grey-zone; not separately authorised.
SRC-CA-NB-009
Seeking new land-based casino concession
Two incumbents; no open tender identified.
SRC-CA-NB-001
App-store listing of non-ALC gambling app for NB
Distribution effectively foreclosed.
SRC-CA-NB-001
Overestimating addressable market
Small population (~800k); no province-level GGR published.
SRC-CA-NB-009
High concentration among multistate giants
New entrants face dominant incumbents (Borgata, DK, FD).
SRC-NJ-001
Seneca compact escrow dispute history
Revenue-reliability risk on tribal arrangements.
SRC-NY-002
Tribal exclusivity zones in Western NY
8-county zone off-limits to commercial gaming.
SRC-NY-002
Concentrated 9-operator market
Top brands dominate; little room for share gain.
SRC-NY-005
Listing real-money casino apps for NZ users
App-store distribution restricted pending licensing.
SRC-NZ-004
No geo-fencing on FSGRN URC operations
FSGRN requires geo-fencing/geo-tracking
SRC-NG-005
Inadequate director composition
Advisory sources cite minimum three directors; fit-and-proper scrutiny applies.
SRC-PA-002
Assuming open lottery access
State lottery prominent; private lottery restricted.
SRC-PA-001
Concentrated operator field
Established majors dominate iGaming share.
SRC-US-PA-008
Large illegal market
~12,000 illegal vs 77 licensed sites.
SRC-PH-009
App-store reliance
Gambling app distribution restricted.
SRC-PH-007
Crypto gambling prohibited
No lawful crypto channel.
SRC-CA-QC-001
Large offshore market share
Regulated channel captures minority of play.
SRC-CA-QC-007
Fantasy sports grey_zone
Legal status of DFS is unsettled in Quebec.
SRC-CA-QC-006
Operator is also regulator
QOGC argues this undermines player protection governance.
SRC-CA-QC-003
Loot-box / speculative monetisation
KFTC E-Commerce Act enforcement.
SRC-KR-012
Fantasy sports for KR nationals
SRC-KR-002
Esports betting for KR nationals
SRC-KR-002
Sweepstakes model
Risk of speculative-act classification.
SRC-KR-002
Online poker prohibited / no MSIGA
No poker liquidity pathway.
SRC-US-RI-001
Crypto gambling no pathway
No Lottery-approved crypto route.
SRC-US-RI-001
Lottery vendor approval required
Suppliers cannot supply without Lottery approval.
SRC-US-RI-002
Only two bidders for second sports licence
Weak operator appetite due to high take.
SRC-US-RI-006
Submitting gambling apps to stores for the Saudi market
App stores do not permit gambling apps targeting Saudi Arabia; CST enforces.
SRC-SA-001
Prize-linked sweepstakes with chance element
Prohibited if prize is linked to chance (maysir).
SRC-SA-001
Paid fantasy-sports contests
Prohibited — no carve-out for paid wagering contests.
SRC-SA-001
Casino tournament without UIS consent
Tournaments require prior regulator consent under 2024 changes.
SRC-RS-003
Venue too close to schools
Distance rules (100-200m) enforced under municipal audit.
SRC-RS-003
STC horse-racing exemption defunct
Online horse-race betting carve-out ended Oct 2024.
SRC-SG-011
Convertible-credit games may be 'gambling'
Social casino models risk falling in scope.
SRC-SG-013
Online casino vertical concentration
Player migration disproportionately to online casino raises RG and tightening risk.
SRC-SK-007
Offering esports betting to locals
Prohibited — outside permitted betting scope (racing/intl football).
SRC-VN-010
App-store distribution of unlicensed product
Platforms restrict gambling apps to licensed operators
SRC-ZA-009
Entering lottery space
Monopolised under National Lottery Commission
SRC-ZA-008
Employing under-21 in gambling operations
SRC-LK-007
Gambling from unregistered premises
Premises must be registered with GRA; offence otherwise.
SRC-LK-007
Treating skill/chance games as exempt
Mixed chance-and-skill historically within gambling; broad GRA definition.
SRC-LK-007
Engaging unlicensed junket operators
Licensees must ensure junket compliance and report breaches.
SRC-LK-007
Online-casino leakage to offshore
Channelisation 72–82% in casino erodes licensed-market share.
SRC-SE-003
Crypto gambling prohibited
No crypto-funded pathway.
SRC-TZ-008
Offering iLottery
Tennessee Education Lottery offers only traditional products.
SRC-US-TN-009
Ignoring consolidation pressure
Operator count fell 12→10 during 2025.
SRC-US-TN-005
Online amendment not enacted
Draft authorising online gambling stalled; no legal channel exists.
SRC-TH-010
Physical dens raided
Periodic police raids, esp. around major sporting events.
SRC-TH-013
Thai-registered company requirement (proposed)
Foreign operators cannot hold EC licence directly.
SRC-TH-009
EC bill prohibits remote/proxy/live-stream participation
Even under legalisation, online channel is excluded.
SRC-TH-007
Skill/promotional games can be penalised
Grey-zone products risk being deemed gambling.
SRC-TH-011
Casino access barred to nationals
Land-based addressable base limited to tourists
SRC-TN-010
Poker prohibited (no carve-out)
No legal poker route online or land-based
SRC-TN-001
App stores restrict gambling apps for TN
No compliant mobile distribution
SRC-TN-008
Promosport civil litigation against offshore operators
Active private-enforcement risk in addition to state action
SRC-TN-002
Crypto-gambling prohibited
SRC-TN-012
Pending policy transfer to Ministry of Finance (15111-d)
Could re-orient regulatory priorities and oversight structure.
SRC-UA-009
Conscription of regulatory/operator staff
Human-capital disruption affecting compliance and operations.
SRC-UA-009
Offering online poker
Poker status under Internet Gaming licence unverified — do not assume permitted.
SRC-AE-003
Assuming land-based opportunity beyond Wynn
Only Wynn Al Marjan Island holds a land-based licence; 2027 opening.
SRC-AE-012
App-store submission without state gating
Apple/Google gate real-money gambling to licensed states.
SRC-US-009
No B2B supplier licensing pathway
Suppliers cannot obtain authorisation; supply is unregulated.
SRC-VE-004
Operating sweepstakes casino
Grey-zone; 2026 bills targeted bans; regional tightening.
SRC-US-VA-013
Crypto gambling offering
No Lottery-approved pathway.
SRC-US-VA-006
Wagering on unapproved leagues/events
Lottery directive limits approved leagues/events.
SRC-US-VA-006
No parent guarantee for subsidiary
Parent must guarantee first-year performance.
SRC-US-VA-002
~10 licensed operators in capped market
Near-saturation reduces new-entrant white space.
SRC-US-WV-010
No clear B2B supplier licence class
Suppliers depend on operator-level platform review; no standalone pathway.
SRC-ZM-004
Monopolist holds only ~30% of actual play
Indicates weak legal-channel attractiveness.
SRC-AT-006
Mandatory .bet.br domain
Brand/domain migration required.
SRC-BR-010
Underestimating incumbent strength
Efbet/Winbet/Palmsbet dominate a concentrated market.
SRC-BG-011
Regulator-identity ambiguity (MINATD vs Minister in charge of gaming)
Source conflict on which ministry holds authority complicates engagement.
SRC-CM-001 SRC-CM-003
Underestimating competition
49 operators / 84 sites — highly competitive acquisition environment.
SRC-CA-ON-005
Cross-border poker liquidity
Ontario poker liquidity ring-fenced to province — no shared pools.
SRC-CA-ON-004
App-store/ad-platform vertical policies
Distribution constrained absent local licensing.
SRC-CL-006
App-store/ad-platform vertical policies
Distribution constrained absent local licensing.
SRC-CL-006
App-store/ad-platform vertical policies
Distribution constrained absent local licensing.
SRC-CL-006
Concentrated market (~16 operators)
Limited slots; established incumbents dominate.
SRC-CO-004
Highly concentrated three-operator market
Limited promotional intensity and no new competition.
SRC-US-CT-015
Lottery monopoly
Online lottery reserved to CLC.
SRC-US-CT-019
High-school event betting prohibited
Statutory bar on high-school wagering.
SRC-US-CT-020
CLC sports operator turnover
Fanatics replaced PlaySugarHouse in Dec 2023 — contractual instability of the CLC slot.
SRC-US-CT-015
Crypto gambling prohibited
No Lottery-approved crypto pathway.
SRC-US-DE-003
DFS/sweepstakes in grey zone
No specific authorisation; status could change.
SRC-US-DE-009
First-proceeds priority transfer
$3.75M first-proceeds transfer precedes revenue split.
SRC-US-DE-003
App stores do not list RM gambling apps
Distribution relies on APK sideloading.
SRC-EC-005
Lottery reserved to state company
Lottery market is closed to private entrants.
SRC-EE-004
Resident director requirement
Local-presence governance obligation.
SRC-GH-007
Online horse-race betting EEA eligibility unclear
It is unclear whether EEA companies may apply for online horse-race betting licences.
SRC-HU-006
Operator-naming taxonomy inconsistent across sources
Due-diligence risk in identifying the correct counterparties.
SRC-IS-002
Underestimating regional cross-border competition
Ohio, Michigan, Illinois compete for Indiana-corridor bettors.
SRC-US-IN-009
Assuming spread betting covered by OGRA
Spread betting is excluded from OGRA.
SRC-IM-005
Assuming spread betting covered by OGRA
Spread betting is excluded from OGRA.
SRC-IM-005
Assuming spread betting covered by OGRA
Spread betting is excluded from OGRA.
SRC-IM-005
Facade restrictions; Riga hall bans
Land-based footprint shrinking.
SRC-LV-010
50% EU-resident board requirement
Governance staffing constraint.
SRC-LV-011
Skill/fantasy products restricted
Non-core verticals not clearly open.
SRC-LV-012
Google/Meta require licence certificate
Platform-level gating of ads.
SRC-LT-008
Online channel ~74% and growing fast
Land-based displacement; concentration risk.
SRC-LT-010
National Lottery single-concession monopoly
Lottery vertical closed to new entrants.
SRC-MT-003
Mandatory diversity plan for licensees
Failure to meet diversity standards risks corrective action.
SRC-US-MD-006
Neighbouring states (PA, NJ, WV, DE) have iGaming
Cross-border leakage and competitive disadvantage.
SRC-US-MD-009
No iLottery — Maryland Lottery traditional only
No online lottery channel pathway.
SRC-US-MD-009
Assuming national operator brand recognition
FanDuel/DraftKings/Fanatics/ESPN Bet skip NV; local apps dominate.
SRC-US-NV-008
Assuming online tribal gaming exists
Tribal role is minimal; no major online tribal gaming.
SRC-US-NV-006
Treating pari-mutuel as provincially licensable
Federal CPMA jurisdiction.
SRC-CA-NB-001
Misidentifying the regulator
NBLGC conducts-and-manages; Gaming Control Branch regulates — distinct roles.
SRC-CA-NB-002
Lottery state monopoly
Lottery/iLottery reserved to the state; no private entry.
SRC-US-PA-002
Declining retail slot/table revenue
Physical casino play contracted in 2025; channel shift to online.
SRC-US-PA-011
Sweepstakes grey zone
No PA-specific framework; regulatory posture could shift.
SRC-US-PA-002
Sweepstakes restricted
Sweepstakes-model entry is constrained.
SRC-CA-QC-001
DFS status unverified
Regulatory ambiguity for fantasy operators.
SRC-US-RI-002
Sweepstakes grey zone
No specific RI prohibition but uncertain status.
SRC-US-RI-002
National lottery monopoly
Lottery product reserved; not open to private competitive entry.
SRC-RW-002
30+ registered operators, fragmented
Crowded small market intensifies competition for limited GGR.
SRC-RW-009
Regulator autonomy questions
Concerns over GRA independence may affect predictability.
SRC-LK-009
Market consolidation pressure
Credit ban + tax may drive consolidation by 2027.
SRC-SE-005
Failure to report personkrets changes
New 2025 routine for reporting suitability-circle changes; supervision active.
SRC-SE-006
Misclassifying skill game
Skill games licensed separately by Gespa; no gaming tax.
SRC-CH-008
Sweepstakes prohibited
No no-prize/sweepstakes model.
SRC-TZ-008
Concentrated licensed market
Incumbent brand strength.
SRC-TZ-013
Fantasy sports not yet regulated
Status ambiguity for DFS entrants.
SRC-TZ-008
Regional IR competition (KH/VN/PH/SG)
Thai liberalisation faces first-mover-disadvantage in SEA.
SRC-TH-009
Major operators publicly cautious
Hard Rock 'zero interest' citing instability signals investor caution.
SRC-TH-003
Bingo not addressed in statute
Treated as illegal by default
SRC-TN-001
Fantasy/esports betting prohibited by default
Emerging verticals foreclosed
SRC-TN-001
Google Play restricts gambling apps
Distribution friction; sideloading dependence.
SRC-UG-002
Lottery licensing gap / monopoly transition
Lottery operated without licensing requirements pending PlayCity restart.
SRC-UA-008
Google Ads require local licence
Acquisition channel constrained for new entrants.
SRC-ZM-003
Sweepstakes prohibited
No-prize/sweepstakes models not viable as a workaround.
SRC-ZM-011