Connect with us
SIS

Industry News

Online gambling will soon be legal in the Netherlands

George Miller

Published

on

Reading Time: 3 minutes

 

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Modernizing the outdated gambling law offers several advantages: extra tax revenue, effective prevention against addiction and ensuring only fair games are offered to the Dutch public.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.

Continue Reading
Advertisement
Comments

Industry News

Super League and Betfred Extend Their Partnership

Niji Narayan

Published

on

Super League and Betfred Extend Their Partnership
Photo Source: superleague.co.uk
Reading Time: 1 minute

 

Super League and Betfred have extended the current three-year partnership until the end of the 2021 season. The announcement follows recent title sponsorship deals between Betfred and other major sports competition brands. As part of the new sponsorship, Super League and Betfred will continue to support the “Gamble Responsible” campaign, which is currently promoted at Super League games.

“We’re thrilled to continue our partnership with Betfred who have become synonymous with Super League. They have been a vital part of our journey over the last three years and we look forward to working with them in what is a hugely exciting time for Super League and the sport. To have the support of someone like Fred who is so passionate about Super League and who shares our vision for its future is fantastic,” Robert Elstone, Chief Executive Super League said.

“This is a historic and ground-breaking deal for the sport and shows a huge commitment from Fred, his senior management team, and all his staff who are so passionate about Super League. It is a significant increase on previous sponsorships and reflects the growing popularity and value of the Super League brand,” Rhodri Jones, Chief Commercial Officer Super League said.

“The real passion for this game shown by the players, the media and, most importantly, the fans, is for me the main reason why this has proved to be such a great sponsorship for us. Therefore, I had no hesitation in extending the deal for a further two years and Betfred look forward to working with Super League to help grow the terrific game of rugby league,” Fred Done, the Boss of Betfred said.

Continue Reading

Industry News

Miss FashionTV Gaming World 2019 to be Crowned this Month in Malta

George Miller

Published

on

Miss FashionTV Gaming World 2019 to be Crowned this Month in Malta
Reading Time: 2 minutes

 

Revolutionising the online gaming industryFashionTV Gaming Group brings together the virtual world of online gaming with the high fashion and glamorous real world of FashionTV with an evening of opulence on the 30th May.

Known for always doing things differently, FashionTV Gaming Group will be hosting its first Miss FashionTV Gaming World awards on the 30th May in Malta at the iconic Fort St Elmo in Valletta.

Miss FashionTV Gaming World 2019 is being held in collaboration with Malta Fashion Week and will culminate the week-long fabulous programme of events with a one-of-a-kind FashionTV glam party.

The event will include a cocktail reception followed by the Miss FashionTV Gaming World contest, with models competing from all over the world.

There will also be a fashion show and live entertainment before announcing this year’s winner who will be crowned on the night and rewarded with a cash prize and the opportunity of becoming the face of FashionTV Gaming World for 2019.

The event is powered by FashionTV Gaming Group and its main sponsor is one of the world most successful online gaming giants, the award winning- BetConstruct who also powers VBet.

An evening of lavish FashionTV entertainment is set to follow, with an exclusive networking reception that will allow industry leaders, models, celebrities, influencers, popular designers, and fashionistas to come together within the walls of a truly magnificent venue under the stars.

Aviva Baner, Head of Media, at FashionTV Gaming Group noted: “Miss FashionTV Gaming 2019 is definitely an industry first of its kind and will  represent one of the major highlights of the global online gaming industry this year.

“We look forward to welcoming our guests and treating them in FashionTV style as we wait to crown our brand ambassador for the forthcoming year. Apart from representing FashionTV Gaming Group, this year’s winner will also gain the international exposure that comes with a mega brand like FashionTV, and we’re excited to being a part of the journey”.

Malta Fashion Week, Airmalta and VisitMalta.com are also sponsoring the event.

Following a series of successful launches across the world during 2019, in Europe, India, Africa, and more recently, Asia, backed by the Global TV Network giant with over 2 billion viewers around the world, FashionTV Gaming Group, one of the fastest growing companies  in the online gaming industry , aims to create a  new era of games through its  “FashionTV Gaming World”, by creating a world of FTV branded games and websites, across all verticals , via its unique B2B sublicensing model for this mega brand and its vision.

This concept allows operators and suppliers around the world to run FashionTV branded gaming products, as well as develop and produce their own FashionTV branded games, websites, including but not limited to Casino, Live Dealer, Sports betting and Games. Other FashionTV branded opportunities include FashionTV poker, bingo, scratch cards, fantasy sports, social games, and games of skill, all of which will become a part of the new and innovative vision of FashionTV Gaming World, with massive global exposure.

Being part of this franchise means that operators and suppliers are able to capitalise on the global reach and power of the FashionTV mega brand to significantly reduce the high marketing costs incurred when bringing a new online gaming operation or branded game to market.

Continue Reading

Industry News

MGA Attends Annual Conference of GREF 2019

Niji Narayan

Published

on

MGA Attends Annual Conference of GREF 2019
Photo Source: mga.org.mt
Reading Time: 1 minute

 

The Malta Gaming Authority has participated in the annual conference of the Gaming Regulators European Forum (GREF), held in Limassol, Cyprus.

The conference was exclusively attended by many gaming regulators. The conference has included topics relating to alternative payment methods, payment blocking measures, the parallels between gambling products and gambling-like financial products, as well as virtual currencies.

The MGA’s Chief Legal Counsel, Carl Brincat, delivered a presentation during a session entitled “Virtual currencies and gambling regulation: the Maltese case.” Carl Brincat was joined by Gerd Sapiano, Senior Analyst within the Securities and Market Supervision Unit within the Malta Financial Services Authority, as well as Nicholas Warren, a private financial services and blockchain consultant.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.