May 5, 2009 (CAP Newswire) — As the government of Switzerland prepares to “ease” its online gambling regulations and provide licenses (read more here), it is also clarifying what those regulations would entail.
Since the industry will be worth an estimated €42 to €67 million, the government is taking caution to regulate entry and therefore discourage abuse of the system — a likely hazard given the market’s value.
In a press release issued last week, the country’s justice ministry stated that it will allow for licenses to be issued for online casino and poker games, but with a series of restrictions against foreign operators.
"The CFMJ believes that virtual games of chance should be restricted to Swiss territory. Future license holders will have to put in place the necessary measures to ensure that only people actually in Switzerland will be able to participate in games," the regulator said in a statement, according to Online Casino Reports.
The new regulations are expected to be put in front of the country’s next session of parliament.