Irish Gambling Regulation Delayed
Online and live gambling in Ireland will remain unchanged for the time being, due to fears about the country’s economy. The 180-page Betting Bill of 2012 failed to reach the Irish parliament, though it is thought Parliament will consider the bill in the latter part of 2013.
The aim of the Betting Bill of 2012 is to set out the full legal framework for the regulation of the online gambling industry. This will not only protect Irish customers, but will also create an additional source of revenue for the Irish government who are in the process of revealing their sixth consecutive austerity budget.
The bill, which has yet to be approved by the European Union, will – as mentioned – protect Irish customers via a number of new regulations, but will also see offshore betting exchanges (such as Betfair) having to pay a 1% levy and other offshore gambling companies will also be taxed at a rate of 15% on their gross profit. These charges for offshore companies should level the playing field for companies such as PaddyPower who chose to run their operations from Ireland.
PokerNews brought you news of this Betting Bill back in July, when we informed our readers that the bill had been announced and some reactions to it. Now it seems Irish punters will have to wait even longer for any changes to the gambling industry to be made.
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