Slovakia On the Verge Of Liberalizing Online Gambling

Published Saturday, December 08, 2018 - Online-Casinos.com
Slovakia On the Verge Of Liberalizing Online Gambling

Since 1 May 2004 Slovakia has been a member of the European Union and has been a stable and productive country, home to over five million people. Slovakia is a central European country known for its dramatic natural landscape and many castles and now it is coming close to liberalizing its online gambling industry.

The Slovakian Ministry Finance recently announced the national parliament has passed new legislation liberalizing the online gambling market in Slovakia. The Gambling Act drafted by the Ministry of Finance  was submitted to the European Commission this year and subject to a three-month waiting period which ended October 26. The legislation must still be ratified by the country‚Äôs president Andrej Kiska for it to come into effect. Relating to other E.U. jurisdictions such as Denmark, Sweden, Romania and the Czech Republic the amended Gambling Act has an emphasis on consumer protection measures.

The new rules if approved will start March 1, 2019. Operators will be able to submit applications for online casino licences, with a launch on the market by July 1, 2019.  Fixed-odds betting licences, meanwhile, will be available from July 1, 2019, with license holders able to offer products and services in the country by July 2020. Licences will be valid for 10 years and the cost of an online gambling license Euro 3 million. Tax on operators has been determined to be 23% of gross revenue for online casino, peer-to-peer online games and fixed-odds sports betting. These fees and levies will fund a dedicated regulatory body. A blacklist of unlicensed online casino operators established in 2017 will remain in effect enabling the blocking of illegal sites but the regulator will keep a national self-exclusion database.

Slovakia`s state-owned gaming operator TIPOS will keep a monopoly on lottery, bingo and instant win games. Amendments to the Gambling Act also include some restrictions concerning land-based gambling venues.

 

 

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