Sri Lanka Pushes Forward in Establishing a Gambling Regulatory Body
Title: Sri Lanka Embraces the Digital Gambling Revolution: Comprehensive Online Gambling Regulation Proposed
Sri Lanka is taking a giant leap into the future with the proposed establishment of a dedicated regulator for its burgeoning online gambling sector. Minister Anura Kumara Dissanayake, in his role as head of the Finance and Planning Ministry, has tabled a draft bill to create a unified Gambling and Sports Regulation Authority. This body will oversee all forms of gambling within Sri Lanka, from land-based to online, offshore, and floating casinos.
The cabinet has green-lit this draft regulation, following a call for a transparent and well-defined regulatory framework for Sri Lanka's gambling industry in February 2025. The Attorney General's office has readyed the bill for publication in the Government Gazette, paving the way for its eventual parliamentary approval.
Traditional brick-and-mortar casinos have long been a part of the local scene, but the unregulated online betting sector has been draining potential state revenue due to an absence of regulatory oversight. With this newfound appetite for regulatory control, Sri Lanka seeks to recapture those lost revenues whilst providing a safe and stable environment for both investors and consumers.
The Gambling and Sports Regulation Authority will serve as the primary catalyst for reform, tasked with maintaining order over the nation's gambling sector. This authority will be responsible for streamlining licensing processes, implementing strict anti-money laundering measures, and addressing problem gambling. Additionally, the authority will bolster tax collection efforts to reap the full benefits of the gambling industry.
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In other news, the UAE recently granted its first gaming license to Wynn Resorts, making headlines in the international gambling industry. As more countries embrace the digital gambling revolution, keep an eye on our Magazine for updates on the evolving poker and real-money gaming space!
Interested to know more about the rising popularity of online gambling? Check out our latest article on the acceptance of online gaming as a mindsport. Many countries are still grappling with how to handle the burgeoning popularity of online gambling, and we'll keep you informed on any further developments.
Enrichment Data Notes:1. New Straits Times2. Gambling Insider3. The Edge Markets4. The Sunday Morning5. DailyFT
- Minister Anura Kumara Dissanayake, in his role as head of the Finance and Planning Ministry, has proposed the creation of a unified Gambling and Sports Regulation Authority to oversee the casino-and-gambling industry in Sri Lanka.
- The authority will be responsible for regulating all forms of gambling within Sri Lanka, including casino-games, lotteries, and online gambling.
- The Gambling and Sports Regulation Authority will streamline licensing processes, implement strict anti-money laundering measures, and address problem gambling.
- By regulating the online gambling sector, Sri Lanka seeks to recapture lost revenues and provide a safe and stable environment for both investors and consumers.
- The cabinet has approved the proposed regulation, with the Attorney General's office readying the bill for publication in the Government Gazette.
- As more countries embrace the digital gambling revolution, it's essential to understand its impacts on the casino-culture and responsible-gambling.
- The UAE recently granted its first gaming license to Wynn Resorts, underscoring the growing trend of online gambling in global business.
- Stay updated on the evolving poker and real-money gaming space by signing up for our quarterly Magazine newsletter.
- To learn more about the rising popularity of online gambling, read our latest article on the acceptance of online gaming as a mindsport.
