The Czech Republic's betting industry is raking in huge amounts of cash, as the Prague Post reported that more than 138,000,000,000 Czech Korunas were wagered within the country last year.
The value of those bets is more than £3,761,890,857 and gaming companies brought in 30,000,000,000 of that total in wins. The large number of wagers placed is making the government reconsider the industry, including expanding online regulations for online operators as there is great potential for tax revenue streams. Currently online betting is not addressed in Czech law, allowing the country's gamblers to go online.
The article from the Prague Post sums that position up by noting: "Many gamblers in the Czech Republic are realizing they can get better value online. Not only are the odds in the casinos better, but numerous European operators offer websites in Czech or English, and players can deposit in Czech Koruna (CZK), meaning no currency conversions are necessary."
There are about 100 brick and mortar casinos in the Czech Republic, and roughly 150 online casinos that specifically target the Czech market, including native language and currency support. Moving forward it will be interesting to see how the government moves to regulate the lucrative online betting industry.