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What is Olympus Glory?
But while the ARGN intends to enhance collaboration between stakeholders across the continent, Akolade asserts the aim is to promote “common principles rather than identical regulations”.
Akolade explains: “Every African country has its own legal framework, culture, and level of market development, so a single model might not work everywhere.
“What we do believe is that basic principles should apply across all markets. These include protecting minors, providing effective self-exclusion options, promoting responsible advertising and ensuring that people affected by gambling harm can access support.
What is Olympus Glory?
Frequent bettors are significantly more likely to report that their betting habits are impacting other corners of their financial lives. Of those who bet daily on sports, 40% say they have debts that they attribute to wagers they made,” the report said.
“Nearly half of all respondents (45%) say they’ve borrowed money to place sports bets, with 13% taking out a personal loan to bankroll their betting and 11% securing funds through a high-interest payday loan,” the report continued.
Many sports bettors are unfazed by the high-stakes financial reality of gambling on sports.
How to play Olympus Glory
Alongside the recovery of NZ$11.5 million, the DIA also took action against the class 4 gambling society One Foundation.
One Foundation’s operating licence was suspended for six days after the DIA identified accounting failures relating to gambling proceeds, as well as a failure to surrender a licence for one of its pokies venues when required by law.
The DIA also issued new financial guidance for class 4 operators, with the aim of providing greater clarity on their accounting requirements and an explanation of their obligations.
