Online Gambling Legislation
Ever since betting online became a big thing in the world of entertainment and gambling, many countries decided that certain regulations are absolutely necessary in order to control this money-spending industry. Basically, every country has a domestic online betting website or a betting shop, so it decided to actively regulate foreign ones. Why? Because betting is a huge industry that brings in millions of cash in taxes and fees and the goal is to keep that cash in the country. Western European countries have operated this issue a while ago, with some of the countries only recently completing the requirements to have a license for online betting sites.
Many countries have recognized the influence and advantages of betting and have therefore invested heavily in laws and legislation pieces to allow betting to be legal. The United Kingdom certainly is a positive example of this feat, with the GGR (Gross Gaming Revenue) going up to 15%. This percentage symbolizes the efficiency of betting shops and ultimately ends in them paying the state the tax for fact that they are organizing games. The 15% is calculated based on the influx of the money from bettors and that money which they give away for loses.
Besides the United Kingdom, Denmark, Italy and Spain have been labelled as examples to follow when it comes to betting regulations, with their GRR going up to 25% based on the calculations, but also providing them places to organize their games. Some of the betting sites and regulators are obligated to purchase a local domain for their online games, further advertising for nationalization of the gambling business and sticking to your local betting website.
Russia and Turkey are widely considered to be the “on the watch” for the gambling regulations ahead, with those two countries only at the beginning of their journey. Complicated politics and mechanics have prevented the legislators to bring a unique law forbidding black markets and present a unified law for gambling and betting. Turkey has their nationalized betting shop, but black markets and odds are taking over and regulations are desperately needed. Russia, on the other hand, is expected to bring the legislation in 2018, but that is still in the works.
Although the standard in Europe is pretty high and the law is respected, some countries are still way back from making progress in their legislative moves. The black market is still pretty strong in many European countries since the lobby of this industry is pretty strong. However, in the not-so-distant future, we can expect some changes as this system certainly is not sustainable in the long term.