All media, including Gambling Insider report (June 11 2018) that Switzerland seems set to ban foreign betting sites. This follows a referendum vote on the country’s new Gambling Act in which 72.9% of those voting came out in its favour.
However, the new Gambling Act will allow for Swiss casinos and gaming firms to offer online gambling for the first time. The taxable winnings threshold will rise from $1,012 to $1.0129m.
The legislation will come into force in 2019.
The driving force of the campaign to back the new Gambling Act was centred on the idea of tackling gambling addiction in the country.
The Swiss Government claim that currently $253m is spent annually in the country on unregulated foreign betting sites. Money that the government says it will be spending on tackling gambling addiction as well as sports and culture programmes.
It is believed that there are currently 75,000 people who are classified as gambling addicts in the country.