Gambling News Update – Europe

10/20/2011
By Pamela PattersonGoogle

 

A few weeks ago the German state of Schleswig Holstein opened up its own gambling market, with approval from the European Commission.  Speculators wondered whether or not other 15 German states (or European counties) would follow suit.  Now, rumors are spreading that the German state of Saxony might be the next in line!  Saxony is known to be a more progressive German state with a lax approach towards online gambling. 

 

Over in Italy, with estimated online casino revenues to reach up to €1 billion in 2012, the country has been enjoying the fiscal benefits of opening up the online gambling market.  Italy has recently instilled new laws to regulate and legalize online gambling.  One recent change that showcases how the country is benefiting from regulating online gambling is the high price of gambling-related domains like  Blackjack.it (recently sold for €65,000) and others like OnlineCasino.it and for sale in the six figure range. 

 

 

Also on our radar is Hungary, which has recently disclosed more details on their proposed online gambling regulations.  Currently, the Hungarian Parliament is deciding on issues regarding permits, taxation and other economic considerations that must be ironed out.  In order to even apply for a Hungarian License, operators will have to be members of the European Economic Area and have at least HUF 200 million ($895,200 USD) in the bank. 

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