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Croatian Betting Laws Okayed by E.U.

Croatia's attempt to legalize and regulate online betting has been okayed by the European Commission, and will now move to the country's parliament for approval.

The betting bill will legalize online betting in the country of 4.2 million, allowing players to bet via their computers and mobile devices.

The bill would allow operators from outside the country, but has steep licensing fees that will cost $490,000, with a half million dollar fee due annually. Additionally, the bill will require that the operators hold $490,000 in a Croatian bank to guarantee financial stability and pay a 5% tax on gross gaming revenues. Those fees may be cost prohibitive to betting firms, and may keep many from entering the market.

On the player side of things, the law would require the casino to pay a 10% tax on winnings between HRK 750 and HRK 10,000; 15% from HRK 10,001 to HRK 30,000, 20% from HRK 30,001 to HRK 500,000, and 30% on winnings above that amount.

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