Midas Golden Touch

About Midas Golden Touch

In his original complaint, Braun also cited a study that found that nearly half of respondents were thinking of using illegal gambling services due to legal restrictions. 

In recent weeks, German authorities conducted a crackdown on an alleged illegal online gambling operation suspected of facilitating wagers totalling approximately €5.86 billion over a 30-month period.  

The DSWV trade body, representing licensed sports-betting operators, broadly welcomed the enforcement action as a necessary response to the illegal market’s growth and associated risks. 

What is Midas Golden Touch?

The report also revealed that Evolution had ignored virtual currency risks, as they had accepted wagers in said currency without triggering the enhanced due diligence normally expected in such cases.

Moreover, Evolution had continued earning revenue from operators in so-called grey markets without enforcing contractual blocks or other remedial measures despite earlier allegations.

Last month the UK Gambling Commission agreed a regulatory settlement with Evolution of £4.75 million, after finding its games had been accessible via a handful of unlicensed operators in the UK.

About Midas Golden Touch

He said the regulation was well established and not with the intention of raising revenue.

“Tax collection is part of the economic game and all sectors contribute,” Durigan said. “The same happens with betting.”

He argued the sector should be treated with the same rigour currently applied to cigarettes.