The Effects of Czech Illegal Online Gambling
A recent study conducted by the Czech Republic Supreme Audit Office (NKÚ) revealed that the European country is strongly affected by the operations conducted by gambling companies which illegally run their businesses. Operators who want to start an online casino should take into consideration that the Czech Republic is currently losing no less than K600 million (€21.6 million) due to gambling activities that are not legal. According to NKÚ, there are several gaming operators who run their businesses illegally in the country, without contributing to the state’s coffers.
Even so, companies who want to start an online casino and offer their services to Czech residents should know that the Finance Ministry intends to introduce a new law that would allow lottery and casino companies from outside the Czech Republic, but which are members of the European Union, to cater to residents of the country. According to a spokesperson from the Finance Ministry, the new law would help boost the economy by generating revenue of K1 billion (€36.1 million). The new bill should be ready for submission by the end of September 2014.
The NKÚ also revealed that the gaming system in the country has several problems with the administrating and controlling payments for lotteries, and that in the near future, the system would be based on collecting data from gambling companies that operate for Czech Republic residents.
Operators looking to start an online casino should also know that the NKÚ has not been pleased with the fact that the Finance Ministry has not taken action against an operator who managed to breach the local gambling regulatory system. More than that, the NKÚ explained that such events have taken place no less than 50 times, while some other operators even managed to break the rules for up to 100 times.
BY CASINOWEBSCRIPTS PUBLISHED 8 September 2014