Swiss May Licence Online Gambling

Published Tuesday, May 05, 2009 -

Switzerland, home to fine chocolate, fine watches, a discrete banking system and now online casinos and gambling.The Swiss government has decided it will grant licences to some lucky online gambling industry operators. While this move is considered a liberization of the current rules in the Swiss jurisdiction the government plans to maintain its prohibitive hold on punters who wish to wager through the phone or on interactive TV. The proposed changes are the initiative of the Justice Ministry as a reaction to the numerous numbers of illegal gaming operations already taking place. The entire Swiss parliament still must pass the new legislation. As with some other European Union Member Countries the new plan has a component to crack down on outside operations moving into the Swiss area. This seems to give preferential treatment to locally licensed providers over those based in other Member States. The European Commission is soon to be on the Swiss government's case if that goes forth. According to an article from the Swiss Info news portal new forms of gambling in Switzerland could generate tax revenues of up to $22 million a year for the coffers of the state. Needless to say this kind of money is attractive to any government when as it stands those revenues are going offshore. The Swiss change of heart has come very soon after Denmark announcement last week that it would be loosening it's hold on it's gambling industry. Thus bringing to an end the 60-year gaming monopoly of the State-owned Danske Spil organization.

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