Share This Article
AAMS, the Italian gambling authority, has notified to the European Commission the draft decrees regulating betting exchange games and bets on virtual events.
These decrees have been long awaited from the approval of the so called Abruzzo Decree in 2009 that set out the tax regime applicable to both games which will be 20% of the gross profits with the peculiarity that, according to the current bill, in relation to betting exchange games the operator will be entitled to collect a commission not exceeding 10% which will be the tax basis. Also another peculiarity of betting exchange regulations (that on the contrary will not be required for virtual events games according to the current draft) relates to the certification of the gaming platform by an independent third party accredited with AAMS that will be required for such games as it is currently required for casino games, card games and skill games.
Both the draft decree on betting exchange games and bets on virtual events will allow the connection of the platforms which may be considerably relevant especially with reference to betting exchange games on Italian licensed platforms where only players with an Italian fiscal code can play and there might be issues connected to the number of players on the platform.
Finally it is worth it to mention that the remote gaming licenses recently awarded by AAMS (or in the process to be awarded) cover also the offering of betting exchange games and bets on virtual events, and operators will not need to apply for an additional license but only go through an additional technical approval.
The review by the European Commission will now last for 3 months and therefore it is likely that the regulations governing such new games will come into force by the end of the 2nd quarter 2012.
However, the good news are not over though, according to rumours, the time window to submit applications for an Italian remote gaming license that expired at the end of 2011 is about to be re-opened by AAMS and therefore late comers will shortly be entitled to apply for an Italian remote gaming license.
The review by the European Commission will now last for 3 months and therefore it is likely that the regulations governing such new games will come into force by the end of the 2nd quarter 2012.
However, the good news are not over though, according to rumours, the time window to submit applications for an Italian remote gaming license that expired at the end of 2011 is about to be re-opened by AAMS and therefore late comers will shortly be entitled to apply for an Italian remote gaming license.
Need to know more on the above? Feel free to contact me, Giulio Coraggio.
(Visited 1 times, 1 visits today)
