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Swiss regulation of online gambling

Thursday May 1,2014 : SWISS ONLINE GAMBLING REGULATION MOVES FORWARD
 
Consultation process kicks off.
 
After years of careful deliberation and much speculation, the Federal Council of Switzerland has met its commitment earlier this year to commence a consultation process on the regulation of online gambling.
 
Preliminary drafting has already begun on the legal requirements underpinning the regulatory process, and provision is being made for land gambling companies already licensed in Switzerland to be invited to apply for online gambling licenses.
 
There are also tax provisions, precautions against under-age and problem gambling, the exclusion of criminal elements and the prevention of money laundering.
 
The drafting work is being carried out by the Swiss Department of Justice and Police with the collaboration of representatives of each of the 26 Swiss Cantons (provinces).
 
There are 19 land based casinos licensed under existing Swiss law. Land gambling taxes boosted the national coffers by around $390 million in 2011, the latest figures available.
 
Government's change of policy from banning online gambling to regulating it came after a 2009 study conducted by the Federal Gaming Board, which recommended the regulatory route with stiff enforcement penalties and action against any unlicensed operators.
 
Punters will be pleased to hear that the national tax structure will be changed so that winnings are not subject to income taxation.
 
Taxes extracted from licensed operators will be earmarked for old age and other funding such as charitable purposes, culture, social projects and sport.



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NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

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NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

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PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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