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Online betting is back. This Thursday, the Assembly is expected to approve the amendments to the law "On gambling"

2023-11-07 10:05:22Biznes SHKRUAR NGA REDAKSIA VOX

Online betting is back. This Thursday, the Assembly is expected to approve the

Although the situation in the Assembly has turned into a "battle" of the opposition, after more than a year of discussions, it is expected that on Thursday the Assembly of Albania will approve the amendments to the law "On gambling". In this way, sports betting will be formalized, but now "online". The organizers of the "Online sports betting" category are taxed at the rate of 25% of the gross income from the game.

What does the bill provide?

According to the draft law, "Any legal entity or association of legal entities, domestic or foreign, that seeks to be provided with a license in the "Online Sports Betting" category, must fulfill the minimum criteria, such as: Be a joint-stock company, with headquarters in the territory of of the Republic of Albania, registered with the National Business Center, in the object of whose activity is reflected the gambling activity in the "Online Sports Betting" category; The capital amount must be no less than ALL 1.2 billion; To declare the source of the capital that will be invested for the exercise of the activity for the "Online Sports Betting" category; The applicant entity or, at least, one of its shareholders has experience in the field of gambling in no less than 3 OECD countries and for no less than 3 years, as well as having the appropriate financial, administrative, organizational capacities and the credibility of the applicant to successfully engage in such projects. Meanwhile, the draft also imposes numerous restrictions on sports betting advertising.

On January 1, 2019, the Albanian government closed all electronic casinos and sports betting in the country, calling them a "social wound" for society. The action of 4 years ago, "The End of Stupidity", has cost the government significantly, while it directly affected about 15,000 families that generated income from this sector.

At that time, there were 3 parent companies of sports bars operating with nearly 4,200 outlets across the country, which were physically closed. But their physical closure was the beginning of the flourishing of an informal betting industry.

From 2019 until now, sports betting has moved online and operates informally thousands of sites, where anyone through an account opened via the Internet can play normally. And seeing this progress, the government decided to formalize this once again, formalizing this industry again, in order to collect the missing income over the years.

 

 


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