Worldwide Sports Betting Market Update
Between sports wagering tax and legalization issues, there’s never a dull a moment in this end of the online gambling industry.
Here are a few of the recent headlines that are big news for sports betting affiliates.
Italy to Reduce Wagering Tax
Italian lawmakers are considering two measures that could radically change the face of sports betting in their country.
Most significantly, Italy is looking at a shift away from taxing sports betting from the current betting turnover system to a more fair tax on gross revenues.
The idea here is not just to help stimulate profits in the igaming sector, but to create more uniform regulatory standards across the business.
Italian bookmakers may also get a chance to be a bit more creative if a bill aimed at increasing the types of wagers they can offer is passed. Under the current system, Italian facing operators are limited to a relatively small set of officially-approved wagering options.
There’s, so far, no word on when theses measures might take effect.
Antigua Gets Serious with USA/WTO
The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) had an outsized impact on the island nation of Antigua, home to plenty of offshore online gambling operations.
Though the Government of Antigua won a ruling from the World Trade Organization (WTO) saying that the Americans were unfairly blocking trade with the measure, Uncle Sam has yet to make amends.
Now, newly elected Antiguan Prime Minister Gaston Browne is looking for redress for all that lost gambling cash.
Browne is on solid legal footing, the WTO has already ruled that America must pay out $21 million a year to compensate Antigua for killing the online gambling business there, until another arrangement is worked out. As of this writing, the Feds have yet to make a single payment.
Besides increasing the heat in political circles, Brown is hiring new legal representation to help Antigua squeeze out cash from the Americans.
After almost ten years, it seems tough to see Uncle Sam paying up on the WTO ruling.
Olympic Betting – Vegas Style
If your last trip to Las Vegas was marred by your inability to bet on Olympic curling or figure skating, the Nevada Gaming Commission has some good news for you.
Beginning with the next Olympics, Nevada sports books will be able to offer action on all Olympic events.
Though Olympic wagering has never had a huge following in the US certain events such as team hockey and, believe it or not, curling are potential breakouts.
The Gaming Commission will still have the final say over what types of wagers can be offered but, for now, the Olympics are wide open for Silver State punters.