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Czech Republic Setting Up Regulated Online Betting Bill

The government of the Czech Republic is gearing up to introduce a bill that would allow all current gambling operators in the country to offer online gambling, this according to an interview with the country's Deputy Finance Minister.

The announcement came from Ondrej Zavodsky, the country's Deputy Finance Minister, who claims that the current administration is looking for ways to boost revenues. Currently, the Czech Republic hauls in roughly 8 billion Koruna ($400 million USD) each year from gambling revenues.

Online gambling would certainly add to the Czech Republic's coffers, as the bill would likely increase the tax rate over the current 20% that is paid.

Speaking with the Bloomberg news agency Zavodsky said: “We need to create an environment that will allow us to tackle hardcore gaming like slots or table games. The indirect costs for the state stemming from such gambling are several times higher than the revenue it collects. That should be made even.”

Any bill would likely be put into effect by 2016.