Czech Republic's New Strict Online Gambling Rules

Published Monday, July 31, 2017 - Online-Casinos.com
Czech Republic's New Strict Online Gambling Rules

One of the most interesting of the European Nations the Czech Republic is undergoing some social changes of late. It has revamped its gambling laws to allow operators to apply for a license to offer gambling services and products to the 10.5 million inhabitants with over 1.2 million residents in the capital Prague.

Czechia is a nation state in Central Europe bordered by Germany, Austria, Slovakia and Poland. It is considered a developed country with an advanced high income economy and high living standards. Concern is growing among newly licensed operators in the Czech Republic as tougher restrictions on online gambling offerings are imposed by the Ministry of Justice, in conjunction with the regulator’s stringent enforcement procedures.

The latest trials have made some operators give up and exit the potentially lucrative betting market. The Czech Republic is the latest country to approve regulated online gaming after the country's president, Miloš Zeman, launched what was expected to be the new online gaming regime and so far a number of matters are left unclear. The Finance Minister, Andrej Babiš, introduced proposals to curb the social harms. Residents are believed to currently wager online $6 billion per year at online casinos and poker rooms and sports betting web sites.

Now, the Ministry of Justice has added more issues for the online operator with hard-line interpretations of the new legislation plus a recently delivered guidance on maximum hourly losses, calling for limited gambling sessions once the limit is breached. A potential ban on bonuses is also part of new guidelines for online gambling service providers issued by the government. The limits imposed by must comply and utilize a mathematical formula that is considered an acceptable tool to calculate losses for players. The so called mathematical basis for the imposed limits include elements such as the size of wager, average payout and the number of times a bet is placed.

 

 

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