It is looking as if Greece and Denmark will have regulated online gambling systems in place by the end of 2011. Once available, these two countries will join Italy and France who already have some types of gambling regulation in place. The Greek Government is planning to progress with the legalization of online gambling by the end of 2011. Denmark is slated to have a regime in place for the legalization of online gambling by autumn of 2011.
Implementation of a Greek System
Greek Government sources have unofficially stated that the online gaming bill will be approved in the first quarter of 2011. By the end of 2011, 50 online gaming licenses will be awarded to applicants. The details, such as duration and specific restrictions, of the licensure process have not yet been released.
Expected Return on Investment for the Greek Government
The Greek Government expects to receive up to 700 million Euros from the new online gaming licenses as well as royalties. In 2012, they are expecting up to 625 million Euros. These funds are critical to a government ravaged by debt. Greece owes 100 billion Euros from a bailout received from the European Union and the International Monetary Fund. This initiative will also relinquish any additional fines.
The Danish System
click here to see most Popular PagesThe Denmark Government was expected to draft a bill legalizing online gambling in January 2011. However, they have been delayed as a result of a taxation dispute. In the second week of January, the Prime Minister of Denmark met with industry officials to resolve the tax dispute and expect to go forward with the gaming bill.
The Danish Tax Dispute
The tax dispute relates to a higher taxation imposed on land-based casinos than on online gaming operators. Therefore, there was a major objection from land-based operators. Ironically, this is one of the most pressing issues to date among countries that allow online gaming. The online gambling industry is well aware of this issue that occurs in most countries. The industry is also excited about the implementation of a pro-gaming bill in Italy and France.
With each country legalizing online gambling, it strengthens the case that this form of gaming is acceptable and can be safe given the necessary precautions. Many countries are successfully implementing a system to regulate casinos while protecting online gamblers. Hopefully in the near future, the United States will realize the many benefits of online gambling and vote for legalization.
