Switzerland to allow land-based casinos to launch online gambling sites

Switzerland to allow land-based casinos to launch online gambling sites

By site_editor

Gambling Insider and other media report that Members of Parliament in Switzerland have paved the way for new gambling taxation laws by voting to abolish its old gambling laws in order to consolidate its gaming tax revenues into a single modern bill which deals with new online markets.

The countries current gambling laws were enshrined in the 1923 Lotteries and Betting Act and the 1998 Gambling Act. Under current legislation earnings from Swiss casinos are not taxed whereas those earnings from lotteries and sports betting are. These laws were scrapped in order to make way for the Money Gaming Act. The new bill will introduce a tax exemption for winnings under SF $1m (£1.03m) made from lotteries or sports betting in an attempt to more fairly tax the different revenues of the gaming industry.

The main focus of the Money Gaming Act is to combat fraud and underage online gambling. The Swiss will only allow for local land based casinos to apply for online gaming licences. This means that the only way a foreign online operator may be made available to the public is through a partnership with a local casino, and even then they must prove their company has a ‘good reputation’.

Additional changes include the allowance for small private poker tournaments to take place outside of casinos.

The ways in which gaming taxes are spent will also change with a shift in legal focus on donations towards charitable causes. It is unlikely that the bill will become a law until 2019, however the progress made in the Swiss parliament to scrap the old laws means there are no more legal barriers to the introduction of the Money Gaming Act.

Company Details

International Association of Gaming Regulators
7881 W Charleston Blvd, Suite 155
Las Vegas, NV 89117

Fax: +001 (636) 277-6665

Email Contact

Twitter Feed

Online gamblers should prove they can afford losses, report finds. Source: https://t.co/NbxBhLK00M Credit:… https://t.co/jVUqjwrtH4
IAGR_ORG (15 hours ago)
@Ro_Smith @newscomauHQ Did you mean BREAKING? :)
IAGR_ORG (23 hours ago)
New Gambling Study into Gambling-Related Harm to Start in Glasgow on August 6th. Source: https://t.co/erHNOJBOo2 Credit: @CasinoGuardian
IAGR_ORG (Yesterday)
DSbV calls on payment providers to stop igaming transactions. Source: https://t.co/UzsBTypYI6 Credit:… https://t.co/Y3yAjYi7rP
IAGR_ORG (2 days ago)
Ladbrokes boss warns gamblers could be driven onto the black market Source: https://t.co/2Q6qRrWDge Credit: @standardnews
IAGR_ORG (2 days ago)