Switzerland Makes up Its Mind: No Foreign Online Gambling Operators

June 12, 2018 Staff Writer Industry News 39

A few months back there was an argument between two opposing sides regarding the Swiss ban on foreign sites and its new Gambling Act. The European country is set to ban foreign betting websites following a referendum vote on the renewed Gambling Act.

First off, a negative point of the incoming Gambling Act is that it will enable Swiss casinos and gaming companies to offer online gambling for the first time as well as raising taxable winnings threshold from USD 1,012 (GBP 757.55) to USD 1.0129 million.

The new Gambling Act was overwhelmingly supported by the majority of exactly 72.9% Swiss voters voting in favour of it.

In spite of it containing some of the strictest regulations in Europe, leading opponents claim it is tantamount to censorship. The legislation is set to become law in 2019, with both of Switzerland’s legislatures, their houses of parliament, passing it.

The Backbone of the Campaign

The new Gambling Act seems to be backed up by the idea of tackling gambling addiction in this European country.

The Government of Switzerland affirms that USD 253 million  (GBP 189 million) is spent annually in the country on unregulated foreign betting sites. The government intends on spending the money on dealing with gambling addiction, but also on improving sports and cultural programmes.

As far as the numbers go, there are currently 75,000 people classified as gambling addicts in Switzerland, Addiction Switzerland reports.

Switzerland seems to be trying out a new strategy of reversing the current situation in Sweden where the national legislature recently voted in favour of a new law entitled ‘Re-regulation of the Gambling Market’. The new law will take effect in January 2019 and it is going to put an end to the country’s monopolistic gambling industry. Allowing international remote gambling operators will in exchange be able to apply for licenses.

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