Bulgarian Government Benefits From Gambling Industry

Published Friday, November 30, 2018 - Online-Casinos.com
Bulgarian Government Benefits From Gambling Industry

Bulgaria has been experiencing financial growth in part due to its involvement in the European Union and in part the gambling industry. Bulgaria has transformed from a primarily agricultural economy into an industrial economy with scientific and technological research at the top of its budgetary expenditure priorities.

Now however Bulgaria’s gambling market destined to bring the local government more income than it collected last year.  Angel Iribozov, chairman of the Bulgarian Association of Producers and Organizers of the Gaming Industry (BTAPOI), announced that the government had made $101.6 million USD from licenses taxes and fees for gambling in the first nine months of 2018. Iribozov also pointed out the full-year figure will come in 13-15% higher than what the government realized in all of 2017.

Iribozov said 16.5% of the total revenue realized came from Bulgaria’s 12 online gambling licensees. These primarily include sites belonging to local offline operators, but also many recognizable international online gambling operators. Critics of the substantial growth have become concerned the extent of gambling activity is creating a generation of gamblers in a country with a very low income level.

Terrestrial gambling is significant boasting 876 gaming halls and 27 casinos.  A recent survey conducted revealed that land-based operators are assuming as much as 10% of the consumers will turn to online venues in the next three years. At least 33% of land-based operators have planned to expand gaming availability in the next year. Of the seven million plus people living in Bulgaria 53% of men and 44% of women participated in some form of gambling in the last year with approximately 3 percent of the total population either have a problem with gambling or have the potential to develop an issue with the activity. Lottery scratch cards are new in Bulgaria and have proved very successful. In 2017, punters purchased over 100m scratch card tickets adding to the Bulgarian government’s coffers.

 

 

 

 

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