European countries in 2015: A Fragmented Regulatory Landscape for Online Gaming

European countries in 2015: A Fragmented Regulatory Landscape for Online Gaming

European countries was a confusing destination to do gambling business in 2015. Gaming regulations in the EU lacked harmony, inspite of the best efforts of the European Commission.

Europe faced a boatload of regulatory issues this season. No question, 2015 was a challenging 12 months for online gaming operators into the EU, as tighter laws from numerous countries created a more and more fragmented regulatory landscape.

From taxation amounts to player pools, Europe remains an unharmonious online video gaming space.

Meanwhile, the EU that are new on digital services, in addition to the UK point of consumption tax, squeezed operators’ margins and ushered in an interval of consolidation for the gambling industry.

Several countries decided to regulate online gambling and open their markets up to foreign operators, increasing the tax headache for businesses who desired to engage these brand new licensed markets.

Hoping to raise some tax that is much-needed, Portugal’s cash-strapped government finalized its brand new online gambling bill into law in June, however the brand new regime’s taxation needs had been criticized by the industry to be overly complex and punitive. That’s because poker and casino revenue is now taxed between 15 percent and 30 percent depending on an operator’s yearly income.

Portugal’s decision allowing the state that is former to spend as much as 50 percent less income tax th Continue reading “European countries in 2015: A Fragmented Regulatory Landscape for Online Gaming”

Daily Fantasy Sports Declared Illegal by Nyc Attorney General

Daily Fantasy Sports Declared Illegal by Nyc Attorney General

New York Attorney General Eric Schneiderman had been surprised to find in his investigation into daily fantasy sports that the key operators were engaged in deceptive marketing, just one of the multiple reasons he’s announced the marketplace unlawful.

Daily fantasy sports (DFS) is no more legal in nyc following an investigation by their state’s lead attorney that is legal market leaders DraftKings and FanDuel both receiving cease-and-desist letters on Tuesday.

‘Our investigation has found that, unlike traditional fantasy activities, daily fantasy activities companies are engaged in illegal gambling,’ nyc Attorney General Eric Schneiderman said in a press release.

‘Daily dream sports is neither victimless nor harmless, and it’s also clear that DraftKings and FanDuel are the leaders of the massive, multi-billion-dollar scheme intended to evade the legislation and fleece sports fans around the world.’

Schneiderman unveiled his office found DFS operators engaging in ‘deceptive marketing to lure customers into an unregulated online gambling procedure,’ but stated that training wouldn’t keep on his watch.

Sides Square Off

The confrontation between Schneiderman and the two leading daily fantasy operators has quickly taken an ugly and combative change.

The attorney general of course initiated the quarrel, writing in his letter that is cease-and-desist that are clearly placing wagers on occasions outside of their control or Continue reading “Daily Fantasy Sports Declared Illegal by Nyc Attorney General”