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Czech Republic May Liberalize Online Gambling Industry

The Czech Republic may be ready to liberalize its online gambling market, allowing foreign operators to offer their services within the country's borders.

The existing law would be repealed by Deputy Finance Minister Ondrej Zavodsky and would eventually go into effect in 2016. The liberalized market would come into affect alongside other gambling reforms such as keeping welfare recipients from betting and restricting gambling machines in restaurants and gas stations.

The benefit to opening the gambling market is increased tax revenues, which could amount to several million dollars each year.

Commenting on the current financial situation in regards to betting Deputy Finance Minister Ondrej Zavodsky said, "Users currently bet abroad, which several foreign companies make easier by introducing sites in Czech. According to our estimates, the state misses out on more than 1 billion crowns a year in this segment."

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