The Gaming Regulatory Authority of Ireland (GRAI) will assume control over online gambling operations starting July 1. This regulatory shift coincides with Betfred pausing its activities in the Irish market.
New Licensing Requirements
Under the Gambling Regulation Act 2024, all operators are required to obtain licenses directly from the GRAI. The new framework establishes strict compliance measures, including penalties of up to €20 million or 10% of turnover for violations.
While some companies are withdrawing, the clarified regulatory environment presents opportunities for other providers. Media Group Limited (MGL) has identified Ireland as a priority market and plans to discuss expansion strategies during the iGB London conference on July 1 and 2.
Previously, the Irish gambling sector operated under older licensing structures before the implementation of the 2024 Act.