Fortune Monkey

What is Fortune Monkey?

The court action came as MDJS was warning of the financial impact of offshore betting. Director General Younes El Mechrafi told a parliamentary sport forum in December that illegal sports betting stakes reached about MAD3.5 billion in 2024. He put the cost to the state at some MAD700 million, split between the national sports development fund and the Treasury.

Meanwhile, Tunisian gambling law rests on Decree-Law 74-20 of October 1974. The only lawful sports betting channel is the state company Promosport. Pari-mutuel horse race betting is managed by the Agence Tunisienne de Solidarité.

Parliament is now considering two competing approaches to online gambling. But neither has produced a licensing framework.

About Fortune Monkey

Sponsorship by betting companies would be prohibited for clubs and other sports entities, federations, leagues, competitions, sports broadcasts, cultural events, shows, educational and social projects, philanthropic entities, civil society organisations, political parties, candidates and election campaigns, as well as digital influencers, athletes, artists and celebrities.

The ban covers brand exposure, naming rights, licensing, ambassadors and other forms of promotional association. The text provides a 24-month period for adapting or terminating sponsorship contracts, and the signing, renewal, or extension of contracts will only be permitted if the respective term of validity expires within those 24 months.

Sponsorship activities involving children and adolescents, schools, and youth sports categories are also prohibited. Betting companies will also be banned from associating their brand with campaigns or projects related to mental health, suicide prevention, financial education, treatment of gambling disorders, social assistance, prevention of over-indebtedness or protection of vulnerable families. 

What is Fortune Monkey?

He also pushed back against claims by Dame Meg Hillier, chair of the Treasury Select Committee, who has characterised some industry warnings as “scaremongering”.

Burnham dealt another slight blow to the retail sector recently, by insisting he would scrap “aim to permit” for betting shops as well as insisting that AGCs will now need planning permission to function.

Done questioned how much more of a tax burden wealthy business owners in the UK should bear, noting: “They keep saying those with the broadest shoulders should be paying more tax. Well, how broad do my shoulders have to be? We paid £400 million in taxes as a family last year.”