Regulation round-up 23 December 2014
The biggest regulatory news from the egaming industry in the last seven days (17 December to 23 December 2014)
Irish betting tax hit by Malta setback
European Commission extends standstill period of Betting Amendment Bill following concerns raised by Maltese authorities
Ireland’s plan to introduce an online betting tax will be delayed until 2015 after Maltese authorities raised a number of concerns related to the country’s Betting Amendment Bill.
The Bill, which has suffered a series of delays since first being tabled in 2011, aims to introduce a 1% turnover tax on all bets placed online within Ireland’s borders in a move which would bring remote gambling in line with the land-based industry.
It had been thought the Bill was on course to be passed before the end of the calendar year having been submitted to the European Commission for inspection during the summer.
This scrutiny, or standstill process, normally takes around three months in order to give European Union member states time to look at the Bill and raise any issues.
Q&A: Justin Franssen explains the Dutch market’s next steps
Despite political posturing in the country and a perceived weakness in the current cabinet, there is every expectation that regulatory movement in the Netherlands will see the market open up in 2016.
And with the market estimated to be worth up to 330m in 2016 by Global Betting and Gaming Consultants, the Netherlands looks set to be a key battleground for international egaming operators in the coming years.
After speaking at last week’s eGaming Review Breakfast Briefing organised in conjunction with Gaming in Holland, eGR caught up with Kalf Katz & Franssen attorney Justin Franssen to discuss the next steps for the Dutch market and what operators can do in the meantime.
Future of US egaming industry “ominous”, says report
The outlook for regulated online gaming in the US is “far more ominous” than originally thought, according to a new report by Eilers Research.
The report titled: US iGaming Outlook for 2015 and Beyond, slashes Eilers’ initial market estimate of at least $1.95bn a year by 2020 to just $663m per annum at best.
In a section titled: What went wrong? Eilers said pre-launch revenue estimates were “unrealistic” and new forms of entertainment such as social gaming and daily fantasy sports have taken players away from casino and poker sites.
“iGaming in the US is likely to evolve as a small but complementary component of the broader gaming industry and should not be viewed as a way to solve state budget deficits or as a meaningful new growth driver for companies,” the report said.
Regulation and taxation to shape egaming industry in 2015
Regulation and taxation demands across the globe will have the biggest impact on the egaming industry in 2015, according to half of respondents to this week’s eGaming Review poll.
The European market is set for significant change in 2015, not least with the impact of the Point of Consumption tax in the UK felt for the first time.
And if all goes to plan the Netherlands should open its doors to online gaming in 2015, while Spain is set to see a number of new entrants to the market and Norway and Sweden may move to liberalise their gaming monopolies.
But more than a third of respondents (32%) said a major increase in M&A activity is more likely to shape the industry moving into the New Year.