Bulgaria Moving Forward With Online Gambling

Published Wednesday, January 29, 2014 - Online-Casinos.com
Bulgaria Moving Forward With Online Gambling

It may be that one day there will be online gambling available throughout Europe as countries such as Bulgaria and now Macedonia have decided to offer operators a chance to exploit their jurisdictions.

A recent article it was revealed that the State Commission on Gambling in Bulgaria legalised online betting and finalized its tax rate at 15%. Originally the cabinet proposed a much lower rate, 7%, for the online gambling operators with the assumption to attract major international bookmakers to the Bulgarian market, but finally adopted the same 15% tax rate for both traditional and online gambling which came into effect in 2013.

Bulgaria's parliament amended the Gambling Act to reduce the tax to 20% of gross monthly profits, plus a one-time license fee of approximately €51K. The new law went into effect at the beginning of 2014. Chairperson of the Budget and Finance Committee in Bulgaria, Yordan Tsonev,  believes that the arrival of new operators in the market could boost tax revenues to more than million by 2015.

Now eCOGRA, an independent online gambling testing and watchdog firm has been approved as a testing laboratory for those online poker and casino operators wanting to enter Bulgaria's emerging online gambling market. eCOGRA has now completed an assessment and accreditation program administered by the Bulgarian State Gambling Commission . eCOGRA was required to comply with the SGC's strict requirements for testing laboratories and demonstrate complete independence from any potential software suppliers or operators. Tex Rees, mediator for eCOGRA said,

"Our application followed interest expressed by some of the industry's leading software suppliers and operators who are clients of eCOGRA and are now expressing interest in obtaining a Bulgarian license," Rees  continued to add, "This followed the change by the Bulgarian government to a tax based on gross gaming revenue, and strict but more practical technical and other operating requirements."


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