Online Bingo in Italy Cuts Out Operators
Thursday, March 31th, 2011 - Tammy F.
It seems like online casino operators are never pleased with the tax requirements imposed by regulated online gambling markets. However, they do have good reason to be disappointed, as some markets have fairly steep asking prices that may alienate smaller operators.
Currently, many online bingo operators are worried about the financial requirements that will be imposed by Italy’s government. Although specific details have yet to be outlined, it is believed that taxes will be anywhere from 11% to 23%, which is exorbitant compared to what offshore operators pay.
In addition to the taxes, operators will also have to pay 70% stake back to each player and spend €350 000 on a new gambling license. These expenses will be fairly difficult to keep up with, especially for smaller online bingo websites that are looking to expand into the country.
Unfortunately, the people who will suffer most from these tax requirements are the players at online bingo websites. If operators have to spend their money on taxes and licensing fees, it is likely that they will have less to spend on promotions and other special promotions that benefit the players.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.