Online Gambling "Liberalized" in Italy
Published: Wednesday, June 24, 2009 Online-Casinos.com
Radical changes are coming to Italy's gambling market. With the introduction of new laws to govern the growing industry in the fast paced nation. June 23, 09 was the date set to for the Italian parliament to decide the direction of the industry in Italy. The legislators will back a liberalisation of gaming in order to raise funds for the earthquake devastated region of Abruzzo, also approving another law called the 'Legge Comunitaria' of 2008. Meanwhile details of officials attempts to curtail illegal gaming have been announced.
The progressive changes are expected to raise an additional €500m per year, most of which is to be spent on reconstruction in the Abruzzo area. The new guidlines were approved without modification introducing cash games for online poker, video lottery terminals and, a reduced rate for taxation now based on margin rather than turnover.
The Communitaria law, was hotly debated in the parliament, The law brings in tough controls on gaming and makes clear the number and cost of new licences available for online gambling and bingo. Guardia di Finanza Finance Police stated that in the last five months some 2,050 illegal gaming machines have been impounded, 4.5m unauthorised scratch cards seized and 300 betting outlets connected to overseas bookmakers have been closed. As many as 200 new online gaming licences will be made available for operators who can meet the requirements, such as being an existing gaming operator with minimum €1.5m turnover in the last two years.
One attractive opportunity presented was to buy a nine-year concession for online bingo for €50,000 plus the value added tax. For operators wishing to enter the Italian market for the first time the opportunity to offer sports betting, skill games and pools products for €300,000 plus VAT may look promissing. Upgraded penalties for illegal gambling were also introduced by the parliament. Operators who organise or collect bets on behalf of unlicensed operators, can face between six months and three years in prison. Licence holders who collect bets illegally also face jail terms of between three months and a year including fines of up to €5000 and the suspension or revocation of their licences.
Italy's gambling market is beginning to look much more solid, with licensing and taxation becoming more transparent, the product offering better, and much less concern over the country's already large bureaucratic interference in the industry's everyday operations.
