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November 2012

Holland To Regulate And Tax Online Gambling

by Renee Israel

Dutch Online Casino Industry to be Regulated

The recently formed coalition government of Netherlands, which will be installed in just another week, has made plans to create a regulatory framework for the country's online gambling industry. The draft of this coalition agreement was released yesterday, and it promises to modernize the country's gambling policy.

Holland to Regulate Online Gaming

Mark Rutte, prime minister of Holland, announced, "We will modernize gambling policy. Online gambling, sports betting, and poker events will be strictly regulated. This way we expect to prevent the offer of illegally operated games of chance in the Dutch market. Compliance with license conditions will be strictly enforced."

The coalition government comprises the Liberal Party and the Labour Party. Mark Rutte's Liberal Party had been a staunch advocate of online gaming regulation for a long time and has succeeded in gaining the support of the Labour Party.

If the new regulations will be implemented, each casino operator will have to pay 29 percent of its gross profits as taxes to the government.

Many industry analysts feel that taxing gross profits, instead of wagers will make sure that the Dutch online gambling industry will be more successful that the Italian and French online gambling industries. .

Gaming Authority Issues Warning

The Dutch Gaming Authority has warned all online casino operators it has placed in the "illegal" category that they will be excluded from the Dutch gaming market if they do not heed its compliance warnings.

Half of the 40 companies thus warned, including Ladbrokes, Unibet, and Bwin.party, have already taken the required measures to become compliant to Dutch regulatory standards. The Dutch Gaming Authority has assured these companies that they stand a better chance of getting gambling licenses if they comply.

According to the terms of the coalition agreement, the Holland Casino, which is a chain of 14 land casinos generating around 250 million Euros in gaming revenue for the Dutch government, will be privatized.

Holland is the European Union's fifth biggest economy, and although considered to be one of the most financial fit EU nations, it has a number of economic problems.

Although Holland's government debt is much below the EU average, its private debt is more than any other country in the union. The country, therefore, has no other option, but to regulate and tax its online gaming industry to boost revenue.



Story Highlights »
  • Online casinos in Holland have been asked to heed compliance warnings.
  • Sportsbooks like Ladbrokes, Unibet and Bwin.party have already complied.


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