Switzerland Renews Gambling Law In 2019

Switzerland Renews Gambling Law In 2019

The mountainous Central European country of Switzerland has passed the new gambling legislation, called ‘the Swiss Gaming Act’ and it will be implemented on January 1st, 2019. The decree should regulate “the licensed online gambling space” and also ban foreign operators.

However, the new enactment will legalize licensed iGaming businesses.

License Applications Considered Until June 2019

According to the source, Switzerland’s Federal Council has confirmed the gaming act’s legislation and said that the first license applications will be taken into account until June. Furthermore, the first gambling permits will be issued a month later, when the ban on foriegn operators also comes into force.

Under the terms of the newly approved regulation, licensed companies will be able to provide poker and roulette games to their customers, with special attention to “stringent constraints about the stakes.”

These and other austere measures are primarily aimed to protect problem gamblers which is why the country opted for an entirely new legislation in the first place.

Moreover, informing consumers of online gaming that they can bet on legal Swiss casino sites is definitely going to help the constitutional requirement of directing the proceeds of gambling to the old age pension fund.

In March 2012, the voters of all cantons supported the Article 106 on referendum which now says the following:

“Gambling is an activity to be authorised by the federal government or the cantons, so that principles of economic liberalism do not apply to gambling and the number of casinos or lotteries allowed is to be set by law.”

It also reads that all lottery income will go exclusively to community welfare uses whereby the tax money from online casinos (approximately $303 million) will flow into the pension fund.

Swiss Stays Ethical

Important to realize is that gambling in Switzerland remains an activity governed by the state, not economic liberalism. The new legislation will protect the players, but it will allow only those venues that already have a concession to provide online gaming services. The country is hoping to combat money laundering and internet frauds as well.

Source:

“New gambling law in Switzerland will come into effect from 2019”, Niji Ng, europeangaming.eu, November 15, 2018.

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