The government of Serbia has announced its decision to regulate the online gambling market.
The move by the government of Serbia will open a new market, and allow for authorities to crack down on illegal operators. The licensing will have a life of 10 years, and there are strict penalties that will discourage unfair betting activity, problem gambling, money laundering and underage gambling.
Serbian Gaming Board Director Aleksandar Vulovic said: “The new law will lead to the opening up of the online gaming market."
Serbian trade association JAKTA, which acts on behalf of Serbian gambling businesses has issued comment regarding the government's decision to regulate the online gambling market.
The statement, by JAKTA President Mirjana Acimovic reads: We can see that our conscientious work in gathering the relevant facts about gaming markets in the former Yugoslavia and the rest of Europe has been worthwhile. We compared different national regulatory models and collaborated with relevant partners such as testing laboratories, reputable companies and associations.
"JAKTA put a lot of effort into lobbying the government for the creation of a well-regulated gaming market.”