Tax to Online Gambling being considered in Costa Rica

September 1st, 2009
 

Online gambling has been completely legal for years in Costa Rica, but astoundingly enough it has not been regulated or taxed by the government, making the country a dream come true for online gambling operators worldwide. Nevertheless, times have changed and with nowadays’ global recession that might soon not be the case anymore.
 

According to diverse sources, such as the Tico Times and AM Costa Rica, the Finance Ministry intends to introduce a bill that would tax online casinos located in the country. If it is passed, the revenue generated by taxing online gambling could be over $100 million.

However, this could easily backfire for the government, as some prominent online operators have threatened to leave and head to Panama if the bill does get passed. After all, the online gambling industry is an important part of the Costa Rican economy, with an estimated of over 10,000 people employed both directly and indirectly.

Nevada Prepares for Online Gambling Legalization

 

August 26th, 2009 

As a verdict on the legalization of online casino gambling seems to be imminent, gambling experts believe that Nevada could benefit financially if the bill to legalize Internet gambling in the United States is approved by Congress. And the reason is that the state has been investigating and licensing gaming companies and regulating the industry longer than any other jurisdiction.

Not so many years ago, Casinos in Nevada used to think that legalized online gambling would hurt their revenue, because what would normally be spent on the land-based casinos would be instead going online. But today’s decline in gaming and sales earnings have changed all that, so the new way of thinking is that Internet gambling regulation could actually benefit the state and their casinos, especially since Nevada’s existing laws could easily be tweaked to conform to proposed federal rules.

While the debate on the bill probably won't happen this year, many observers agree that the more likely scenario is that Congress will look at the online gambling sometime early next year. Not only that, but there’s also a building up, a gradual momentum indicating that eventually Internet gaming will occur and be regulated. In fact, many casino operators -like Harrah’s- have already started making preparations for a passing of the bill.

Spain Working Out New Online Gambling Regulations

 

August 18th, 2009 

Being one of the countries criticised by the European Commission for its online gambling practises, Spain is working towards the implementation of new collective regulations that won’t be in violation of European Union trade agreements. And contrasting with the US, Spanish officials are moving swiftly to correct this situation and open the Internet gambling market to the public.

In progress since 2007, the process of regulating the online gambling industry will join the efforts of France, Estonia and many other European countries preparing to open their doors to the would-be millions of Internet gamblers.

The potential for advertising and industry growth in the so far unexploited Spanish market -with up to 46 million people in Spain alone, many more living abroad and in nearby countries- is expected to be huge by many international online gambling companies, including William Hill and Bwin which are already in negotiations with the intention of getting in on the action from the very beginning.

This new regulatory developments have brought about the organization of new events in order to help online casino companies and affiliates learn more about this emerging Spanish market. One of such upcoming events is iGB España, which will last 3 days from October 29th to the 31st and will be held in Madrid, with the purpose of giving and edge to iGaming affiliates and online casino operators once the market opens. 

 

Paypal and Google Start Reversal of Online Gambling Block 

August 11th, 2009

Paypal is gradually but steadily beginning to re-enter the online gambling market, as its payment processing services are once again available to online casinos and bingo sites in the UK and Europe, although US players are still being excluded. This change of policy seems to be in line with recent speculations from gambling industry insiders that hope there could be an overturning of the UIGEA, making the huge US market available again.

 

Probably the most popular payment method for online business transactions, Paypal works especially well for online gamblers as it acts as mediator between the online casino and the players. Among the advantages that can be gained using this service are a nearly instantaneous transfer of funds back and forth between accounts as well as saving time and removing dangerous risks.

Likewise, Google is now accepting gaming ads in the UK, and is said that the currently biggest Search Engine is anticipating a return to the times when taking online casino ads was legal in the US. Both companies are taking a cautious approach in order to avoid legal trouble with US authorities, but this is almost universally seen as a good sign that the reversal of the online gambling block has already started.

 

888 Predicts Recovery in Online Gambling Industry Profit

 

August 6th, 2009

In what is being described as the worst recession since World War II, online gaming has been suffering a significant drop in consumer spending. As a matter of fact, the second largest UK online gambling company, 888 Holdings Plc, is reporting a noteworthy fall in both income and player numbers in the first quarter.

However, the company’s Chief Exectuvie Officer Gigi Levy is optimistic about the future and expects the return of consumer confidence and an ensuing sales growth of 20 percent or more for 2010. Levy was positive about the possibility for recovery when interviewed by phone: “We feel a lot more confident the industry’s going back to its normal growth trend, rather than continuing to be hurt by the recession”. And went on to say things could only improve: “We’re looking at Q1 as the lowest point, and aiming to grow from there.”

In order to make up for the decline in poker and casino gambling activities during the global recession, the group is planning to set up operations for other businesses and endeavouring to draw the attention of female customers with bingo and other online games.