New rules for payments in online sports betting - Strict controls, every transaction will be tracked
The Ministry of Finance has approved a new instruction that establishes the procedures and standards for making payments and withdrawing funds in the “Online Sports Betting” category. Referring to the instruction published in the Official Gazette, detailed rules have been established for licensed operators and financial institutions that will mediate transactions, with the aim of guaranteeing more transparency, security and control in this sector.
According to the instruction, any payment or withdrawal of funds will be carried out only through financial agents licensed by the Bank of Albania. Meanwhile, operators are prohibited from making cash payments. Each transaction must be identifiable and traceable in the systems of the operator, the financial institution and the Central Online Monitoring System, which is administered by the Gambling Supervisory Authority.
One of the main elements of the guidance relates to the verification of the identity of players. Operators will be obliged to check the identity of each user before activating the game account and to ensure that the payment instrument used to deposit or withdraw funds belongs to the same person. In case of data mismatch, the transaction will be automatically rejected.
The document also stipulates that only one account per player will be allowed in the system. Also, persons under the age of 21 will not be admitted, as well as individuals included in the self-exclusion list administered by the Gambling Supervisory Authority. Organizers are obliged to immediately implement the self-exclusion requirements and the corresponding restrictions.
To ensure the safety of funds, operators must maintain a separate account where players' money is stored exclusively.
Special rules are also in place for the payment of winnings. They will only be transferred to the player's personal account and to the same payment method that was used to deposit funds. Transferring winnings to third party accounts or payment methods that do not belong to the player will not be permitted.
The directive also strengthens measures against money laundering and terrorist financing. Operators must monitor transactions, identify suspicious cases and report them to the Financial Intelligence Agency. In cases where suspicions are related to gaming activity or payment systems, the Gambling Supervisory Authority will also be notified.
Meanwhile, operators will report monthly detailed data on deposits, withdrawals, winnings paid, game revenue and the number of active players. Any technical or operational incident must be reported within 24 hours. Failure to comply with the requirements of this instruction will be considered a violation of the legislation on gambling and may result in administrative measures, up to the suspension or revocation of the operator's license, the Official Gazette states.
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