00:00The establishment of the General Commercial Gaming Regulatory Authority, a revolution of the gaming industry in the UAE.
00:07All types of commercial gaming activity in the UAE, such as land-based gaming services, online gaming, betting for sports, and lotteries,
00:15are regulated and licensed by the General Commercial Gaming Regulatory Authority, which is the federal executive agency of the UAE.
00:22The purpose of this regulatory system is to ensure the highest possible standards of protection for customers, safeguarding, and legal compliance while also encouraging progress and protecting the public interest.
00:33The primary obligations and responsibilities of this authority are monitoring and inspecting license holders, promoting ethical gaming, and combating illicit financial transactions.
00:44The General Commercial Gaming Regulatory Authority also established many rules and regulations.
00:49This regulatory system consists of consumer protection, risk management, and safety.
00:56Before conducting commercial gaming activities, a license from the authority is required for any business entity or individual, regardless of whether the activity is conducted online or at a physical location.
01:06Participating in or conducting gaming activities in the UAE without obtaining a valid license is illegal,
01:13which may face legal consequences or criminal penalties, such as fines, suspension of operations, and other administrative fines.
01:23Additionally, penalties may be imposed on players who engage in unlicensed gaming activities in UAE.
01:28Licensing applications vary depending on the scope of the gaming activity and have been established so that transparency and clarity are maintained in licensing procedures.
01:39While managing licensee holders, authority is required to check through technical standards.
01:44In order to avoid fines, it is mandatory for licensees must communicate with the authority and resolve regulatory issues as soon as possible.
01:52The offenders may face fines or impose penalties based on the intensity or nature of the violation.
01:59To prevent financial crimes such as money laundering and terrorism financing, UAE government implemented these regulations.
02:07As part of its regulatory role, the GCGRA oversees Financial Crime Prevention, FCP, in the commercial gaming sector.
02:14The authority works closely with licensees to ensure that they implement effective internal controls, conduct regular risk assessments, and report suspicious transactions.
02:25By coordinating both national and international parties, the GCGRA ensures that the UAE's gaming sector adheres to global best practices in financial crime prevention.
02:35In addition to this regulation, the Federal Decree Law, No. 20 of 2018, regarding the combating of money laundering, directly and indirectly, regulates and monitors the gaming sectors in the UAE.
02:48This aforementioned law plays an important role in the supervision of UAE's gaming sector and its operations, to ensure that the gaming industry and operators prevent the money laundering, AML, protocols.
02:58The lawful gaming structure of the authority was established on several basic guidelines, such as gaming should be considered a form of entertainment rather than a source of income.
03:10The gaming environment has to be risk-free, fair and safe.
03:13To safeguard children and people with special needs from the negative effects of gaming, it is essential to implement proper precautions.
03:21Participants as well as organizations must receive accessible assistance from the industry.
03:25An important aspect of the GCGRA's regulatory mandate is distinguishing between commercial gaming and promotional activities.
03:35While commercial gaming involves games of chance or skill where money or valuable items are gambled, promotional activities are primarily marketing tools used by businesses to engage customers.
03:46The GCGRA continues to maintain the exclusive authority to determine whether a transaction classifies as a legitimate promotion or commercial gaming.
03:55The legitimate market value of the item's concern, the purpose of the operation, and whether the prize is treated as a marketing expense or a revenue-generating method are all essential considerations.
04:06Moreover, gaming operators as well as participants and distributors who engage in commercial gaming activities in UAE are subject to legal liabilities if they operate without a GCGRA-issued license.
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