The State’s new gambling regulator is likely to begin overseeing betting businesses in the Republic midway through next year, industry figures predict.

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President Micheal D Higgins recently signed the new Gambling Regulation Act, which overhauls licensing and creates a new authority to govern betting firms, into law. Industry figures forecast that the new regime should begin operating midway through next year, a key point for many businesses as they will have to renew online betting licenses by that time.

Government also has to pass several milestones before the new Gambling Regulatory Authority of Ireland can start functioning, including appointing the seven people the body requires.