Swiss Online Gambling Regulation Coming Soon

Published Wednesday, August 20, 2014 - Online-Casinos.com
Swiss Online Gambling Regulation Coming Soon

Many online gambling jurisdictions in Europe have made some effort to liberalize and regulate the industry with mixed success. Switzerland has had legal gambling since 1993 with limited-stakes casino gambling only. A few years later, the Federal Law on Games of Chance and Casinos was amended to allow unlimited stakes gambling in Swiss casinos.

Online gambling and online casinos are still technically illegal within the Swiss Confederation. The Swiss government is currently looking to introduce regulation to the online gaming market,  However Swiss authorities are unable to actually enforce the ban on online gambling, so people usually find a way to access sites. Swiss banks have no objection to moving funds to online bookmakers, even if they are offshore.

Media revealed recently that Switzerland's Conference of the Cantonal Directors in Charge of Gambling and Lotteries had expressed its full support to the regulation of the country's online gambling market, with the condition that it must not come with excessive liberalization. The CDCM said that discussions were held regarding regulation during a recent plenary assembly and decided that “it would be convenient to give gambling operators the opportunity to offer their games on the internet”  The organization also said that licensing should only be open to ‘brick-and-mortar’ operators currently regulated in Switzerland, which would ban any offshore online operators.

The CDCM said: “We support the idea of extending the current licence. The online environment is not a new market: it is only a new medium to distribute the offer already available, it addresses the same clients and it meets the same needs of the traditional games.

“The arrival of new operators specialised in the online sector would lead to a competition that would be problematic from a political, social and possibly even economic point of view.” “We believe that those who hold a licence to offer brick-and-mortar casino games should not be 'punished' for the fact that they have respected the rules that currently forbid them to run operations online.”

 

 

 

 

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