Red & Black Casinos

Fun casino hire throughout Suffolk, Norfolk, Cambridgeshire and Essex.

Red & Black Casinos. Providing fun casino hire throughout Suffolk, Norfolk, Cambridgeshire and Essex. Fun casinos are a great addition to any occasion, Weddings, Corporate parties and fundraising events. Based around professionalism, honesty, value and quality of service. Red & Black Casinos aim to make sure you and your guests have an amazing time allowing you to enjoy your event safe in the knowledge that your fun casino is in safe hands.

All of our croupiers have worked in the fun casino industry for many years and they adapt their tables to the level of skill that their players have; whether that be explaining the rules and offering advice to first time gamblers, or playing like in a Vegas Casino!

Anti-money laundering legislation

AML is a complex area, which cannot be summarised in this chapter. The UK’s AML legislation stems from the international standards set by the Financial Action Task Force (FATF) and European legislation.
By way of background, Directive 2015/849/EU on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Fourth EU Anti-Money Laundering Directive) brought all forms of gambling within the regulated sector (previously, only the casino sector was “regulated” under Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing).
Subsequently, Directive (EU) 2018/843 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Fifth Anti-Money Laundering Directive) was adopted by the European Parliament on 19 June 2019, with a 20 January 2020 deadline for EU member states to transpose the Directive into national law. The UK’s revisions to its AML and counter-terrorist financing regime came into force on 10 January 2020. The significance of the new provisions for gambling operators includes, but is not limited to, the regulation of virtual currencies and increased levels of scrutiny required for transactions from high-risk countries.
Unsurprisingly, the Commission has a keen interest in social gaming because of the element of chance in these games, in particular those that mimic gambling games. An increasing number of games in the UK now incorporate virtual currency that can either be obtained by registering to play or purchasing virtual money using PayPal or a credit card.
The 2005 Act defines gaming as “playing a game of chance for a prize”. Social gaming sites can offer real money prizes, provided that their games are purely skill-based. Social gaming sites offering poker and casino games avoid attracting regulation by not offering prizes that are reducible to monetary value.
Matters become complicated when social games of chance offer prizes in virtual money. If no real money is paid out to players and winnings have no monetary value, social games will not attract regulation under the 2005 Act because the virtual money does not constitute money’s worth. This is on the basis that it is not exchangeable for any goods or services and cannot be traded for anything other than additional play (that is, a “closed loop”).
The Commission’s March 2017 position paper (Virtual currencies, eSports and social casino gaming) concluded that interpretation of legislation in any case remained a matter for the courts and in view of limited contemporary case law, drew the following conclusions:
  • Applying the existing regulatory framework allows for proportionate control of the risks associated with betting on eSports.
  • Maintaining public confidence in the integrity of eSports as an entertainment and betting event relies upon those seeking to benefit commercially from it applying the best practice available from other sports.
  • Where in-game items or currencies which can be won, traded or sold can be converted into cash or exchanged for items of value, under gambling legislation they are considered money or money’s worth.
  • Whether a gambling licence is required to provide facilities for participation in a video game for a prize will be determined by reference to a number of factors, including how the outcome is determined and how the facilities for participation are arranged.
The Commission’s focus will be on those activities which blur the lines between video/social games and gambling and present a risk to the licensing objectives. In particular, the Commission will prioritise those made available to children, those involving expenditure and those presented as gambling or associated with traditional gambling.