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Czech gambling industry Growing Rapidly
Saturday October 3,2015 : GAMBLING IN THE CZECH REPUBLIC IS BIG BUSINESS
Online and mobile channels rapidly gaining ground.
The overall Czech gambling industry is worth around 138,000,000,000 Czech Korunas (GBP 3,761,890,857) a year in wagers based on 2014 statistics, and the online and mobile component is growing rapidly, the Prague Post reported this week.
It is estimated that gambling companies in general earned roughly 30,000,000,000 Kč in 2014.
The popularity (and the big money involved) has prompted the government to consider tax opportunities flowing from a licensing and regulatory regime for Internet gambling operators, the newspaper reveals, observing that there are currently no laws specifically targeting online gambling, and no barriers for Czech online punters to gamble with foreign operators.
And they do; the Post goes on to point out:
"Many gamblers in the Czech Republic are realizing they can get better value online. Not only are the odds in the casinos better, but numerous European operators offer websites in Czech or English, and players can deposit in Czech Koruna (CZK), meaning no currency conversions are necessary."
The Czechs appear to have a strong gambling culture; the country hosts over a hundred strictly regulated brick and mortar casinos which are well patronised.
Revenues continue to climb despite reductions in the number of physical gaming machines - currently around 67,000 are operational across the nation. This is apparently due to the increasing popularity of online and mobile gambling, the newspaper opines, observing that more than 150 online casinos are active and promote their businesses in the Czech market, many Koruna-denominated and with local language support structures.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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