Compliance Updates

Switzerland to Block Foreign-based Gambling Sites

Published

5 years ago

June 26, 2019

Niji Narayan

Switzerland to Block Foreign-based Gambling Sites

Reading Time: < 1 minute

Switzerland is going to block foreign-based companies from the Swiss market.

The federal commissions in charge of gambling, lotteries and betting said that they will soon publish a “blacklist” of online gambling sites that would be blocked as of July 1.

The new move will allow only casinos and gaming companies certified in Switzerland to operate in the country, including on the internet. The law will meanwhile for the first time enable Swiss companies to offer online gambling.

The law is meant to help combat gambling addiction, which according to Addiction Switzerland afflicts nearly 75,000 people in the small Alpine nation, costing society more than half a billion Swiss francs annually.

The law will enable Switzerland to tax revenues from online gambling activities, with the proceeds set to help fund anti-addiction measures.

As per the government, Swiss gamblers spend around 250 million Swiss francs annually on unregulated betting sites abroad that pay nothing into public coffers.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.