Friday, June 18, 2010
Ireland to License Online Gambling
Ireland was previously one of the only countries in Europe to restrict online gambling, but now the government has decided to update its laws to allow the activity. Under the new legislation, overseas online gambling providers will be able to offer their services to players in Ireland, opening up the market to a wide array of operators.
According to politician Brian Cowen, offshore casino operators would have to obtain a license from the jurisdiction in order to be able to gain Irish customers.
“This will have the additional benefit of facilitating the extension of the tax regime for the betting industry to all those providing online and telephone betting”, says Cowen.
He states that the new tax legislation is a beneficial program – not only because it increases revenue for government programs; but also because operators who have previously not contributed will now have to.
According to spectators, one way that the revenue is going to be spent is helping the country’s struggling market for horseracing.
Other countries in Europe have deemed this to be a beneficial solution to the online gambling problem. Already, the UK is planning on passing a similar legislation, that would require all offshore operators to obtain licenses in the country. Some operators have stated that these laws will be ultimately unsuccessful, but only time will tell if they will help improve the online gambling industry.
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