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Online gambling will soon be legal in the Netherlands

George Miller

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Legalization of online gambling in the Netherlands – Government budget 2019 counts on tax income from remote gambling

 

Is the outcome of the upcoming plenary session in the Senate already known? Anonymous sources with insider’s knowledge tell us it is. The recently published government budget for 2019 only makes our suspicion stronger: the bills will be passed by the Senate and online gambling will be legal in the Netherlands starting mid 2020.

Remote games of chance in government budget 2019
The government budget 2019 contains information about the budgetary consequences of legalization of online gambling. On just sports betting, the expected tax revenue is 6 million euro for 2020. The government expects to be raking in 12 million each year starting 2021. Tax revenue from other soon to be legal forms of online gambling (e.g. roulette, bingo and poker) are not included in these numbers yet. In the highly unlikely case of the Senate not passing the bill, the government would be missing out on the calculated tax revenue which can turn out problematic for the concerning ministry: budget cuts or lending more from other ministries may be the result. A time-consuming, labor-intensive process, which makes it extra significant that there is tax revenue from online gambling in the government’s budget planning.

 

rijksbegroting2019

Image Source:rijksbegroting.nl

 

Legalization remote games of chance
We saw the first signs of the government legalizing online gambling back in 2016, when EK 33.996 was passed by the House of Representatives. With this bill the market monopoly of land bound gambling providers was breached. The Senate will start plenary treatment for this bill on the 5th of Februari 2019. Bill EK 34.471, which ends the government’s monopoly on offering casino games, will go through plenary treatment in the Senate on the same day.

Benefits of modernizing the gambling law
Modernizing the outdated gambling law offers several advantages: extra tax revenue, effective prevention against addiction and ensuring only fair games are offered to the Dutch public. Online gambling is a growing market in the Netherlands: from 1,5 million players in 2016 to 1,8 million players in 2018. Each year the government is missing out on up to 175 million euro in gambling tax revenue.

Effective date
The effective date for the new gambling law will be 1st of July 2020. The law will commence at a by royal decree determined time. Afterwards, the Gaming Authority will need 6 more months to issue the necessary permits to online gambling operators. After this, online gambling will be legal in the Netherlands.

Taxes
TK 35.031 tells us tax liability for both land-based and remote gambling providers will shift from player to gaming provider. Gaming providers will be obliged to hand pay 29% in tax over their ‘gross game result’ (the difference between the received players’ deposits and paid out players’ prizes). In the current system it’s the player who is taxable for other forms of gambling, like sports betting. However, players weren’t taxed on prizes below 449 euro. By taxing the gaming providers instead of the players, a much bigger revenue stream is targeted. Tax revenue is expected to increase significantly under the new bill. In the new gambling law all remote games of chance are treated equal and will pay the same tax rate. This way, all types of online gambling (casino games, poker, sports betting) are given a fair chance.

 

Source:  Onlinecasinoground.nl

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Middleton Katz Joins SMP Group

George Miller

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Middleton Katz Joins SMP Group
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Isle of Man-based corporate services provider Middleton Katz has today announced a deal to join the SMP Group of Companies, a global professional and financial services group.  The transaction has been approved by the Isle of Man Financial Services Authority.

Middleton Katz is a well-respected service provider on the Isle of Man, delivering corporate, tax, and accounting services to a broad range of clients. The company has built its reputation on professional expertise, personal service, and attention to detail.

Martin Katz, Principal of Middleton Katz, commented: ‘I am incredibly proud of the business and sense of community we have built; as a small, close-knit team, we have consistently punched above our weight in terms of the services we deliver. However, joining a larger group gives us the back-office support we need to extend and improve the services we offer clients much farther than we could alone. For us, SMP was a clear candidate from the beginning. We have dealt with them many times in the past and always been treated fairly and respectfully, so we already have strong relationships with many of their team.’

David Hudson, CEO of SMP Group, added: ‘Middleton Katz is an efficient and highly skilled company that is well-loved and respected by both clients and staff for its personable and reliable service and culture. We know they will integrate very naturally into our business, and we believe our shared history and ambitions will be hugely beneficial for their clients and staff.

‘Middleton Katz is our second acquisition since completion of the MBO on 14th June and represents another significant milestone for our Group.’

The deal has been undertaken with the support of Palatine Private Equity LLP, the UK mid-market private equity house that took SMP through its 2019 MBO, with additional debt funding from Apera Asset Management.

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GambleRock.com Launches a Social Online Gambling Community

George Miller

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GambleRock.com Launches a Social Online Gambling Community
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Introducing, GambleRock.com! Players, affiliates and gaming sites are all welcome to join the fastest growing community for the online gambling industry

 

A newfangled online casino community is now live for gamblers looking for the freshest gaming news, honest casino reviews, top 10 rankings and prodigious welcome bonus offers. Introducing, GambleRock.com! Players, affiliates and gaming sites are all welcome to join the fastest growing community for the online gambling industry.

The website is free for everyone and connects gamblers directly with online betting sites through its social media like features: private messaging, friends and followers, status updates, activity feeds, WordPress blogs and community discussion forums.

Launched in May 2019, the social gambling community already has members sharing their thoughts and providing helpful tips in the GambleRock forum. It aims to connect players with affiliates, casinos and sports betting websites. The community also provides trusted online casino reviews and lists the top ranked gambling sites organized by country. i-Gaming affiliates and casino affiliate programs are encouraged to share information about their websites and develop business brand pages on gamblerock.com.

GambleRock members have discussions on different topics in the community forum. Players will find exclusive casino bonuses and new casino promo codes from highly trusted gambling websites. Active discussion categories for online betting matters are accessible in the forums. GambleRock offers members a free dispute and mediation service for any complaints they have with an Internet gambling site. Submit your complaint to the online casino complaints forum and they’ll contact you to try and help you collect payments and resolve the matter (no cost to you).

The GambleRock top 10 online casinos list is for people who want to play for real money. In addition to their current rankings, they are also developing further lists of trusted online casinos based on the country where players are located in. The reviews are trustworthy, reliable and to the point. Learn useful betting strategies for casino games before making your decision on where to play.

Stay abreast with gambling laws and other issues affecting the online gambling community. Dive deep into the news and read important and extensive news from the industry. Its noteworthy news stories are gathered from credible news sources like CNN, Wall Street Journal, BBC News, Bloomberg, AP News, etc. Every gambling news story that you’ll read on GambleRock is from a trustworthy source.

 

Source: GambleRock

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EveryMatrix Press Releases

EveryMatrix signs partnership agreement with Wiraya to develop strategic commercial network

George Miller

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EveryMatrix signs partnership agreement with Wiraya to develop strategic commercial network
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International software provider EveryMatrix has signed a partnership agreement with Wiraya, which will support commercial expansion for both businesses in the iGaming industry. The new partnership brings together EveryMatrix’s premium offering and client network with Wiraya’s Mobile Customer Activation solution.

EveryMatrix has always strived to offer the very best technology available to its clients and the new partnership with Wiraya will support us in our efforts. By using Wiraya’s solution across the player lifecycle, we can now facilitate superior player engagement to our operators.

“One of our fundamentals is to always be a flexible and agile partner to our clients across sports and casino, which means that we have a responsibility to find or develop the best solutions available for their needs.” comments Kiril Nestorovski, Head of Sales at EveryMatrix.

“Wiraya has some ambitious growth plans, and to achieve these objectives, strategic partnerships with some of the biggest brands in the industry will be key.” says Patrik Eriksson, Wiraya’s Partnership Manager for iGaming.

“From the beginning of our discussions, EveryMatrix recognised the potential value here for their customers, as all major operators are now really understanding the benefits of focussing on customer experience. This means taking active steps to engage with players throughout the entire player lifecycle, to address the critical challenge of customer loyalty.” adds Eriksson.

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