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Switzerland To Consider Online Gambling Regulation
The Justice Ministry in Switzerland has been tasked with drafting a proposal with the objective of licensing and regulating a small number of Internet gambling operations, reports Swissinfo this week. The proposal will be eventually be laid before Parliament, and will presumably also form part of a public consultation process.
The liberalisation is part of a drive to more closely regulate betting in order to combat illegal gambling in the country, and tough restrictions on non licensed operations will be part of the overall plan.
Initial indications are emerging that gambling over the telephone or via interactive television will not be included in the legalisation process.
Experts say the new forms of licensed gambling could generate tax revenue of up to an estimated SFr26 million ($22 million) annually.
Gambling generally in Switzerland, home to some of the most sophisticated financial services in the world, underwent major changes almost exactly eight years ago when legislators approved laws allowing land casino gambling to include unlimited stakes for the first time. Strictly controlled by a federal agency, casinos are required to pay strict attention to financial, underage and problem gambling issues. Operations are also required to employ fully trained staff, who are evaluated by an independent advisory board.
Online gambling regulations are expected to be equally strict and closely monitored.
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Gambling News :
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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