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Why the Swiss voted to ban offshore gambling websites

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Why the Swiss voted to ban offshore gambling websitesReading Time: 3 minutes

The Swiss people have voted in favour of banning foreign-based gambling sites, which could prompt other countries follow suit As well.

For starters, Switzerland had proposed to ban foreign-based gambling sites with a new Gambling Act. In line with the countries law, a citizens’ referendum was held on June 10, 2018, for its approval or rejection. In the referendum, 72.9 per cent of Swiss voters supported the new gambling law – in other words, an overwhelming majority of the people were with banning offshore gambling websites. As a result, from next year onwards, only Swiss-certified casinos and gambling companies will be able to operate in the country – both offline and online.

Passed on September 29, 2017, the Swiss Money Gaming Act substitutes the existing gambling law which deals with casino games and betting lotteries. Under the new Act, the overall ban on online gambling is abolished. However, the only licensed land-based casinos in Switzerland can run gambling websites for the people in the country. Essentially, the Act bans foreign-based gambling sites.

The government maintains that the Act will help deal with gambling addiction as well as allow taxation on gambling revenues. The taxes collected from gambling revenues will be used for anti-gambling purposes, the government insists. On the other hand, not everyone supports the Act. According to Mobile Casino Hub, the changes introduced by the Act will “censor the internet”.

 

The Opposition Opines

The Young Liberals, the Green Party, the Pirate Party and the Digitale Gesellschaft all backed a petition for changes in the June referendum. Organisations had 100 days from October 2017 to gather 50,000 signatures, which would allow changing the referendum. Despite that opponents managed to gather all necessary signatures, however, they did not do so in schedule, and so the referendum remained unchanged.

According to the Young Liberals, the Swiss economy will be affected by these changes. In a statement posted on the party’s website, representatives said that the block of foreign sites in favour of domestic companies is not reasonable. Additionally, the freedom of business and information will also be affected after the law is enforced.

Young Liberals criticised the government’s decision, saying they set a “dangerous precedent” which allows for a further limitation of the Internet. All the act does, opposing organisations say, is removing unwanted competition.

In the end, Young Liberals proposed an alternative, which they dubbed a “sensible solution” – foreign-based betting sites should be regulated and subject to taxation.

 

Enforcement of the Swiss Money Gaming Act

Enforced next year, the law will be one of the most severe laws in Europe. While it will enable online betting, the law will ban all foreign-based gambling sites. The Act introduces other changes in gambling – it changes the legislation of poker tournaments outside casinos and even tackles non-taxable wins from games outside casinos.

Under the Act, small-scale poker tournaments outside of casinos are no longer illegal. However, they will be limited in terms of buyin and amount of participants. Additionally, small-scale poker tournaments are subject to a license.

The most controversial element of the Act—the ban of foreign-based sites—was heavily disputed over the past several months, with opposing organisations saying it puts a limit on the freedom of the Internet and interferes with personal rights. Despite severe criticism, the government maintains that such measures are necessary to protect Swiss players from unregulated gambling on foreign sites.

 

Help Fight Gambling Addition

Swiss players spend nearly 250 million Swiss francs on unregulated betting sites abroad, paying nothing to the Swiss government. With the enforcement of the Act in 2019, this “hemorrhaging” will be stopped. The government has said that not only will taxes from gambling revenues be used for anti-gambling purposes, but they also will be used to fund anti-addiction programmes.

 

Will Other Countries Follow Suit?

An important question emerges after the Swiss decision to ban foreign-based gambling sites – will other countries follow suit?

Currently, the UK government is trying to deal with problem gambling. Despite that UK has a self-exclusion scheme; it has been failing for years due to the liberal gambling market, which allows all sorts of gambling operators to offer services on UK ground.

Nevertheless, Norway is currently pushing for a ban on all foreign-based gaming companies. Several Norway organisations pushed for legislation that will block foreign betting operators, grant extended authority to the Lottery Authority, etc.

Essentially, these measures will block all sites belonging to foreign-based operators, creating a poker ban (Norsk Tipping—Norway’s national lottery and future gambling monopoly—does not offer poker). The proposed measures were accepted on May 7, 2018, and are likely to be adopted soon.

 

Source: techfinancials.co.za


Source: Latest News on European Gaming Media Network

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Poland to fight against tax crimes

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Poland to fight against tax crimesReading Time: 1 minute

 

A law has been prepared by the Ministry of Justice, which allows effective counteracting organised crime, especially tax crime, illegal circulation of alcohol, cigarettes and electronics or illegal gambling. This is done by the amendment of the Penal Code prepared in the Ministry of Justice.

The new law aimed at criminals who are cheating on taxes, duties or excises.

Revenues from VAT to the state budget in 2017 increased by PLN 30 billion, which is by almost a quarter compared to the previous year. This is more than all year spending on the “Rodzina 500+” programme.

The next action is far-reaching changes in the Penal Fiscal Code. They are necessary because the obsolete law (the Penal Fiscal Code Act has not undergone a deeper amendment for 10 years) means that huge amounts instead of, for example, social purposes go to the pockets of criminals who cheat on taxes, duties or excises.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Poland to fight against tax crimes

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£5,000 cash up for grabs for predicting if Altior wins or loses at Ascot

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£5,000 cash up for grabs for predicting if Altior wins or loses at AscotReading Time: 2 minutes

 

Matchbook, the sponsors of Saturday’s Clarence House Chase at Ascot, are running a competition on Saturday that will give racegoers a chance to win a £5,000 cash prize by predicting whether Altior wins or loses in the Grade 1 contest.

In a competition designed to engage and educate punters about the benefits of betting with an exchange, punters will either chose to receive a blue lanyard (back bet) or a pink lanyard (lay) which will carry a unique number on.

If Altior wins, the “backers” are in for a chance to win; if Altior loses, the “layers” are in for a chance to win. Matchbook will then draw the lucky number and the correct number and correct colour wins the £5,000 cash prize.

The competition will take place on the ground floor of the main grandstand at Ascot racecourse.

Competition details:

  • Upon arrival, promo staff will hand out blue (Back Bets) and pink (Lay bets) Matchbook branded lanyards to racegoers inside the course gates
  • Lanyards will have a clear pocket which will contain a card. Each card will have a unique number (0001-1000 tbc) and details of how they can win a cash prize of £5000. Card will also have details on Matchbook and our social media handles
  • 18+ only
  • To enter, users will have to come to the Matchbook stand with their unique number, enter it, along with their email address on a dedicated screen before the Clarence House Chase(CHC)
  • The competition will be based on the favourite in the Clarence House Chase winning or losing. If the favourite wins, all the people who have registered with blue(back) lanyards are in the draw for the £5k. The pink (layers) will be out as the favourite won. And the opposite if the favourite doesn’t win
  • Matchbook staff will also have lanyards to give out to visitors at the Matchbook stand
  • Once the last race (16:05) is over, all eligible entrants will come to the Matchbook stand for the big draw.

 

Matchbook is a peer-to-peer betting exchange designed for smart bettors who want better value, deeper liquidity and exceptional customer service. We’re not the alternative, we’re the difference.

Matchbook is licensed and regulated by the Alderney Gambling Control Commission and the UK Gambling Commission.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: £5,000 cash up for grabs for predicting if Altior wins or loses at Ascot

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Betconnect launches to enable punters to follow the bets of professional gamblers

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Betconnect launches to enable punters to follow the bets of professional gamblersReading Time: 2 minutes

 

World’s only social betting network that gives everyone access to live bets from professional gamblers who can’t place bets with traditional bookmakers

 

A new betting site launches out of Beta today, letting ordinary punters follow the bets of professionals.

Betconnect is the first notable disruptive technology platform in the industry since Betfair in 2000 and aims to level the playing field between bookmakers, professional gamblers and punters.

For many years, professional gamblers have found their accounts closed or restricted by bookmakers due to their success. In fact, new research published today shows that one in ten (9.8%) of British punters have at some point been restricted. Betconnect connects these people with a network of regular punters in a shared betting experience.

Pros can create and submit bets into the betconnect platform on all major sports and betting markets, using the very best real-time odds. The bets are then intelligently distributed to a network of punters who are prepared to match the bet in exchange for the tip received in the process.

 

Make betting a more informed punt

Many of the betconnect Pros have had their betting accounts restricted or closed by the bookies.

The Pros are held to account through the publication of their profit-and-loss statistics. Punters can therefore be assured of the quality of the ‘tips’ they’re receiving, which are called Bet Requests on the betconnect platform. Every Bet Request is financially backed by the Pro so they can be safe in the knowledge that their interests are aligned. If the Punter chooses to Follow the Bet Request and the Pro wins, they win too.

Underpinning the betconnect user experience is a technology platform and algorithm that has been engineered by a team of Silicon Valley inspired software engineers based in the UK. The platform leverages artificial intelligence and machine learning to provide a highly personalised and seamless experience for both punters and pros.

Mark Weaver, co-founder of betconnect said, “Business is booming for British bookmakers and we believe it’s time to tip things back in favour of punters. Betconnect is a place where regular punters can benefit from the expertise of Pros who’ve been restricted by bookmakers.”

Dan Schreiber, co-founder of betconnect said, “Millions enjoy betting as a hobby and now recreational punters can follow the bets of professional gamblers. The central idea is about sharing expertise in a way that everyone benefits. eToro has proved the concept and appetite of people to be guided by financial trading experts. We are applying the same concept to betting. Recreational punters are able to join betconnect, browse our directory of pros, and connect with the ones whose bets they are interested in following.”

 

About betconnect:

Betconnect is the world’s only social betting platform that gives you access to the bets of professional gamblers. We send you personalised bets – each called a Bet Request – direct from the Pros for you to Match. Many of our Pros have had their accounts restricted or closed so they can’t place bets with traditional bookmakers. Betconnect Ltd is licenced and regulated by the U.K. Gambling Commission (Number: 000-044346-R-323354-001) for customers in Great Britain.

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Betconnect launches to enable punters to follow the bets of professional gamblers

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