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CZECH ONLINE GAMBLING LEGALISATION IMMINENT?
07th June, 2016 at 09:21:19
Foreign operators eye the new market.
The clock is ticking for the president of the Czech Republic, Milos Zeman to sign a new bill passed by the national parliament that will enable the licensing and regulation of foreign operators in the online gambling market.
readers will recall that the Senate recently approved a new gambling law on a majority vote of 42, with no votes against the measure but 23 abstentions. The approved bill was sent to the president for signing into law, a process in which he has 30 days to act.
If President Zeman approves the bill it will probably come into force early in 2017.
However, operators are likely to bridle at the hefty tax rate that Czech lawmakers have insisted upon - 23% of gross income on lotteries and sports betting, and 35% in the case of online casino action (see previous reports).
That is substantially higher than the average of around 19% levied in other European regulated markets.
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