Italian Gambling Bill Threatens Online GamblingPublished September 26, 2015 by Florin P
Italian Senate to decide on future of online gambling within national borders
Poker players and casino enthusiasts from Italy had to overcome numerous obstacles over the last couple of years, due to prohibitive legislation. In 2010 local authorities denied players from outside national borders a chance to compete against Italians, which severely hurt the market. Things are about to take a turn for the worse, as a gambling bill was presented to the Italian Senate with the purpose of imposing a complete ban on gambling advertising.
Another Blow for the Industry
The Italian gambling market is widely regarded as one of the most lucrative ones in Europe, due to the enthusiasm of local players. Major companies such as Mr Green Casino, 32Red Casino and William Hill Casino are already licensed to operate in Italy and they plan on consolidating their position.
They do so despite the fact that Italy has high taxes and restricts player pools to Italians, but things are about to get even worse. In order to offset the losses caused by the draconian tax regime they had to increase the rake and diminish the size of bonuses. If the proposed bill passes the Senate, the inability to advertise will reduce their chances to increase the customer base.
Few Reasons for Optimism
Rumors about potential reforms that would lead to a decrease in the taxation level reignited hope among gamblers, despite the 20% drop of 2014. All the enthusiasm has dissipated ever since the news of the proposed gambling bill, as licensed gambling operators will have little means to reach out to prospective customers.
Law-abiding companies now have the chance to differentiate themselves from offshore casinos that operate in the nether area. There is a real danger of gambling fans signing up for real money accounts with unregulated operators, unable to make an informed decision. Gambling associations and regulated casinos also contemplate the possibility of complaining to the EU commission if the aforesaid bill passes.