Italy Determined to Legalize and Regulate Online Gambling
Good news for all European online gamblers, poker players and bingo fanatics. Italy is taking the lead in the process of legalizing and regulating a variety of online gambling and gaming activities.
Last week a majority the Italian Parliament voted for legislation that supports the process of a legalizing nation-wide regulation of online gambling activities. The decision to proceed towards a more liberal online gambling climate received massive support from almost all major stakeholders.
Among the activities subject to the legislation are online casinos, poker rooms, sports betting operators and online bingo halls. Together with the toleration of legal online gambling, comes a strong focus on battling and dismantling illegal gambling operators.
Fierce Battle on Illegal Operators
Under the new legislation financial and gaming operators that accept wagering from unlicensed operators, will face charges running from six months to three years in prison. Next to this licensed operators that unlawfully collect online wagers, can be doing three months to a year of jail-time and can be fined up to €5,000.
Additional Government Income
Besides providing a more safe and responsible gambling environment, the new legislation will bring in some serious additional tax revenues for the Italian government. 9-year bingo licenses will be sold at €50,000 a piece, and sports betting licenses go at €300,000 a piece. Together with the gambling taxes this will result in an additional €500 Million flowing directly to treasury.