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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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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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