Ireland’s Gambling Act 2015 introduces new online gambling amendments & policies

Ireland’s Finance Minister Michael Noonan

Following numerous delays since its first draft in 2011, the Irish government approved the passing of the nation’s Gambling Act 2015. The new act is set to introduce new amendments and regulations on online gambling services and will further set new taxations on remote gambling services offered to Ireland’s consumers.

The new taxations will see iGaming services (online casino, games and bingo) being charged with a 1% tax on gross gaming revenues. Online sports betting services will be charged at a 15% net revenue rate (mirroring the UK POC taxes). The Irish government will plan to have the new taxation policies in place by the 1 August.

All online gambling operators will be required to have an approved license (cost – €10,000) in order to service the market, the license will grant each operator two years approval for Irish gambling services. Ireland last week  opened its processes for operator licensing.

Ireland’s Finance Minister Michael Noonan was pleased with the final introduction of the Gambling Act stating in a media communication

“The Betting Amendment Bill is just a first step in providing for a well regulated betting and gambling regime. This Bill will allow for the regulation of those providing betting services by remote means to persons within the jurisdiction for the first time. This is a major step in the right direction. The implementation of the regulatory regime for remote operators will also allow for the extension of betting duty to these companies.”

The introduction of Gambling Act will further see a tougher stance taken by the Irish government on unlicensed operator activity, with fines ranging up to €300,000 for operators deemed to be breaching the new code.

Online gambling operators servicing the Irish market, have so far welcomed the Gambling Acts amendments stating that the Irish government has taken a suitable approach to taxation and licensing.

read more  :  www.sbcnews.co.uk

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