Switzerland Closer To Making Online Gambling Legal
Lawmakers in Switzerland are proposing a new bill that will allow local casinos to offer online versions of various games such as blackjack, poker and roulette. The bill will be allowed to move forward if voters vote in favor of it. Voters will vote on the ‘The Money Game Act' in a few days.
Not only will online gambling be legal if the bill passes, but Swiss gamblers will have another layer of protection.
In March 2012, the bill was voted on. Over 80 percent of voters wanted online gambling to become legal because there are more advantages than disadvantages of making it legal.
However, the new bill will not allow oversea casinos to offer its services to online gamblers in Switzerland.
If the new law is passed, all casinos that offer online gambling will be required to pay taxes. The taxes paid will be used to increase the old age pension fund. This would generate millions for the cantons and the fund. To be more specific, the old age pension funds will receive over $300 million while the cantons will get just over $50 million. Funds that are collected from Swiss lotteries will be put towards welfare measures in the community. Generally speaking, Swiss lotteries support arts, sports and cultural.
The tax rates being imposed on online casinos will be very high, which is why foreign operators have been excluded. Lawmakers believe overseas casinos wouldn't want to enter the Swiss market due to taxes. However, final tax rate percentages have yet to be agreed on but the government are still discussing what the rate should be.
Protection For Players
Players in Switzerland would receive better protection if the new law goes into effect. For example, it will prevent them from falling victims to gambling operators who are operating illegally in the country. Foreign casino operators won't be able to operate in the country because internet service providers in the country to block their ISPs.
Under the new law, those who currently hold a Swiss concession can offer their gambling services online. This means casinos who already follow the country's laws can offer their services online. Casinos and lotteries will receive another layer of protection too. For instance, devices will be placed on lottery machines, which means minors will not be able to play. Casinos will have to be more vigilant on keeping minors out of their establishments. This is to reduce gambling addiction among the youth.