Italian Delays Over Online Casinos To Be Legal

Published Monday, February 07, 2011 - Online-Casinos.com

It came as no surprise that there would be delays in the official launching of online poker cash gambling and casino style betting in Italy but no one anticipated waiting over a year for the new rules to be ratified.
The Italian Official Gazette which announces all new legislative changes has made it legal after fifteen days the notice is considered complete. The first draft of the online gambling rules was challenged by Italian network provider Microgame which forced the law makers to introduce amendments. First of all officials dealt with the taxation issue and the major change in the collection method from tax on gross profit to turn over. Next, the maximum amount allowed to stake on start up is €1,000. A big change was the requirement that 90% of bets will return as winnings and the max buy in for poker tournaments will go up to €250.

 
Italian internet gambling has grown substantially since its introduction recently, so there is massive anticipation that the introduction of a full suite of online games will bring great rewards. 2010 saw the Italian remote gaming market grow by 28% to reach €4.8bn in annual turnover, analysts predict the potential market will increase by one hundred percent within the next two years.

There is still going to be more delay before consumers get to actually play the new selection of games which can’t be offered until after the publication of the decree on the issuing of new licenses. Meanwhile current licences have to be recertified for the new regulatory requirements. The new licence holders will be stringently tested for technical competence under the new conditions.
Delays can be beneficial for the new entrants into the Italian internet wagering market but only if quick and decisive action is taken to gain a strong position.

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