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Czechoslovakia To Increase Gambling Tax

Wednesday October 28, 2015 : CZECHS TO INCREASE GAMBLING TAXES
 
But where was the minister of finance?
 
On Tuesday, lawmakers in the Czech Republic lower house gave initial approval to a bill raising the tax on winnings from lotteries, sport betting and slot machines with effect from 2016.
 
Legislators were told that Czechs spent 138 billion crowns ($5.63 billion) or roughly 3.5 percent of GDP on gambling in 2014, more than half of it on mechanical and video slot machines.
 
The bill, which passed the first of three readings on Tuesday, would raise the tax on lottery and sport betting winnings from 20 percent to 23 percent, and on slot machines to 28 percent, the Reuters news agency reports.
 
An additional daily tax on each slot machine would rise to 80 crowns from 55.
 
The measure is expected to boost tax revenues by 2 billion crowns.
 
The bill still has to pass two more lower house readings and the upper chamber of parliament before it is presented for signature into law by the president, but given the coalition government's large majority, it seems certain to become law.
 
Opposition deputies criticised finance minister Andrej Babiš for being absent from the lower house session debating his proposal to increase gambling taxes. Babiš was one of many MPs absent from the Chamber of Deputies on the eve of the state holiday marking the anniversary of the foundation of Czechoslovakia.

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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