Industry News
EGBA supports changes to Polish Sports Betting Taxation
The European Gaming and Betting Association have said that they are in favour of proposed changes that Poland’s legislators are recommending to the Ministry of Finance. The cross-party committee want to see reform to the way in which gambling is taxed in the country. The committee that is made up of members of the Sejm, Poland’s lower house, believe the current legislation is repressing the sector.
The committee has submitted a proposal calling for the Ministry of Finance to move away from taxing turnover. Instead, they want taxation to be in line with that of most other European countries where Gross Gambling Revenue (GGR) is taxed.
The EGBA has said that it believes that replacing Poland’s turnover-based tax for online sports with a revenue-based tax would act as an incentive for Polish players to use websites that are licensed in Poland. In addition, the EGBA says that this would reduce players using offshore gambling sites and generate more tax revenues for the Polish Treasury.
In a statement on their website, Martin Haifer, Secretary-General of The EGBA, said “EGBA welcomes the ongoing discussions on the future of Poland’s online gambling regulation and supports changes to the tax base for online sports betting. The current turnover tax is punitively high and not conducive to a viable online gambling market that meets the needs and expectations of Polish players. Poland is a large gambling market and has a great love for sports, and a sensible GGR-based tax would be an incentive for virtually all Polish players to play with regulated websites and for more of Europe’s betting companies, including EGBA members, to consider applying for an online sports betting license. These companies would not only support Polish sports through sponsorships and other revenues, but also pay gaming taxes and contribute to a more viable market which is attractive to Polish bettors and offers them a safe and regulated environment to play in.”
Professor Konrad Rackowski, who is Poland’s former Finance Minister, has published a paper in which he says the changes would create a more viable and attractive online sports betting market. The EGBA supports changes to the way in which gambling is taxed in the country. A cross-party committee has now urged the Ministry of Finance to implement the recommendations.
Currently, Poland taxes online sports betting at 12% of total turnover, equating to between 55 and 65% as a GGR tax. This makes Poland one of the countries levying the highest taxation on online sports betting within the EU. Professor Rackowski says that only two out of twenty of the country’s licensed sports betting companies were profitable. As a result, a fifth of Polish bettors use websites that are not licensed or regulated in Poland. This means that the Treasury is missing out on potential tax revenues.
After Andrzej Duda’s PiS (Law and Justice) party were elected, Polish online gambling was radically reformed. Up until 2016, Polish online casinos and sports betting platforms operated in a liberalised online gambling market. However, the market was remodelled in 2017 after the Treasury was sanctioned to implement drastic changes to the country’s gambling codes. They imposed the 12% turnover tax and limited the activities of the state monopoly, Totalizator Sportowy.
The changes to the law meant that in order to have a license to operate in the country, online providers had to have a physical presence in Poland. Additionally, they had to provide the Ministry of Finance with databases containing details of their players. This resulted in many international online operators withdrawing from the Polish market. Those companies included bet365, Bwin, Olympic Entertainment Group and William Hill.
The Polish sportsbook trade association, PIFBRiB, suggests that a flat rate of around 20% on sportsbook GGR would be appropriate. Professor Rackowski believes that this would achieve a real decrease in the size of the grey market in Poland’s bookmaking sector.
casino games
BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market
The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Group’s proprietary technology and platform, the launch marks a significant step in the brand’s international expansion.
BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Group’s proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.
Gary Fritz, President of MGM Resorts International Interactive, said “We are thrilled to launch BetMGM in the Netherlands and build on BetMGM’s successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.”
Gustaf Hagman, Group CEO at LeoVegas Group, said “Our launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.”
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Industry News
“Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming!
PopOK Gaming, a trailblazer in the world of iGaming, is happy to announce the launch of their latest slot game, “Royal Flash.” This classic-style slot game takes players on a fruity escapade, promising an exhilarating journey filled with excitement and grand wins fit for royalty.
Drawing inspiration from traditional fruit machines, “Royal Flash” exudes classic charm with its timeless design and iconic symbols. Set across 5×3 reels and featuring 10 paylines, this game is adorned with familiar fruit symbols such as strawberries, cherries, grapes, and the illustrious Seven symbol.
But the real excitement lies in the gameplay – each Wild symbol that graces the reels expands to form a Wild reel, ramping up the intensity and offering thrilling win potential with every spin. Additionally, keep a keen eye out for the coveted gold bar symbol; landing three or more unlocks a prize from any position on the reels, adding an extra layer of thrill to your gaming experience.
Players can expect to bask in the glory of majestic wins, with the opportunity to claim up to 1,500 times their bet in this modernized twist on a retro-inspired classic. Whether you’re a seasoned slot enthusiast or a newcomer to the world of gaming, “Royal Flash” promises an unforgettable adventure filled with excitement, thrills, and the chance to win big!
Experience the Majesty of “Royal Flash” Today!
The post “Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming! appeared first on European Gaming Industry News.
Industry News
NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards
NuxGame, the experienced betting and casino software provider, has been recognised at this year’s EGR B2B Awards, receiving a nomination for its Aggregation Platform.
The EGR B2B Awards is one of the most esteemed events in the industry and this shortlisting solidifies NuxGame’s status as a leading casino software supplier and a one-stop shop for casino operators.
Winners are to be selected by a panel of industry experts ahead of the ceremony at The Roundhouse in London on 13th June.
NuxGame’s aggregation platform boasts over 13,600 slots titles from 135 leading providers, which has recently been bolstered thanks to partnerships with the likes of 3 Oaks Gaming, Vivo Gaming and Hacksaw Gaming.
The nomination follows a strong year for the provider, which has made strides in player retention and acquisition tools for its aggregation platform customers with features such as free spins, network tournaments, live streamer promotions and custom thumbnails.
This latest development for NuxGame serves as a testament to its philosophy of staying ahead of the tech curve and harnessing the latest technologies to provide a bespoke and customer-centric service.
Denis Kosinsky, Chief Operating Officer at NuxGame, said: “The EGR B2B Awards is one of the most important dates in the iGaming calendar, so we are honoured that our leading casino aggregation platform has been shortlisted.
“It’s fantastic to be recognised in these prestigious awards, as we are dedicated to delivering the most innovative casino game aggregation platform for our customers.”
The post NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards appeared first on European Gaming Industry News.
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