Swiss Lawmakers Discuss Online Gambling Legalization
The Swiss economy is one of the most stable ones in Europe, the country facing the economic recession better than most of its neighbors. Despite of the fact that this country has decided to ban online gambling until now, politicians are thinking about creating a regulatory framework which will support this industry. This is a consequence of the fact that their neighbors, like Italy, which has felt the effects of the recession, have decided to legalize online gambling in order to increase their revenues.
At this moment, Switzerland’s brick-and-mortar casinos are threatened by the Italian internet gaming and betting industry, gamblers usually preferring to stay at home and play at an online casino, rather than come play at Swiss gambling establishments. In 2012, none of the Swiss land based casinos succeeded in generating increasing revenues compared to those in 2011. It has actually been reported by the Federation of Swiss Casinos that there has been an 8% drop last year, the industry raking in 757 million Swiss francs ($800 million).
Luckily for operators who want to know where and how to create an online casino, it has been reported that this situation has made Swiss lawmakers question whether they should consider adopting a licensing regime which will lift the online gambling ban. The Swiss Department of Justice is already collaborating with Swiss cantons in order to create a draft which will represent the basis of the online gaming and betting regulatory system.
BY CASINOWEBSCRIPTS PUBLISHED 23 July 2013