Online Casino Transfer: News - Lithuania Joins the Trend

01/26/2010		Online Casino Style: News Lithuania Joins the Trend
Home History Games News Dictionary		It seems that the year 2010 could be a year for changes in the online gambling world in a number of nations, not the least among them is the United States of America. Other, smaller countries, however, are developing strong interests in developing themselves as a safe haven for internet casinos, not only creating tolerance within laws, but promoting welcome states for the internet gambling companies, not unlike the Isle of Man, and Gibraltar have done. Last week, Estonia announced their intention of fostering such a system, looking to alter their regulatory scheme to be more welcoming to the online casinos the their tax dollars. Lithuania is taking a similar path, it seems, as this week rumors began to fly in regards to the small, Baltic nation developing new law proposals that would appropriately set the stage. The model seems to be following that which belong to Estonia, where licensees for gambling are welcome, provided they are able to adhere to a strict regulation code, developed to weed out bad businesses and dangerous sites for consumers. Servers will be mandated to be located in-country, local licensing is obligatory, and Lithuania will earn themselves a healthy tax cut for their hosting. Gambling is a relatively new pastime in Lithuania, where land gambling was only legalized in 2001. The first casino first opened in 2002, catering to the nation’s 3.5 million inhabitants. Since then, more casinos have been introduced, but on the whole, growth has been relatively conservative, forcing many would-be gamblers to prefer online casinos over their live venue counterparts. The new legislation is being drafted to specifically address the needs of the growing internet casino market, paying special attention to the regulation of firms. A first draft could very well be available by the middle of 2010.

01/26/2010

Online Casino Style: News
Lithuania Joins the Trend

It seems that the year 2010 could be a year for changes in the online gambling world in a number of nations, not the least among them is the United States of America. Other, smaller countries, however, are developing strong interests in developing themselves as a safe haven for internet casinos, not only creating tolerance within laws, but promoting welcome states for the internet gambling companies, not unlike the Isle of Man, and Gibraltar have done.

Last week, Estonia announced their intention of fostering such a system, looking to alter their regulatory scheme to be more welcoming to the online casinos the their tax dollars. Lithuania is taking a similar path, it seems, as this week rumors began to fly in regards to the small, Baltic nation developing new law proposals that would appropriately set the stage. The model seems to be following that which belong to Estonia, where licensees for gambling are welcome, provided they are able to adhere to a strict regulation code, developed to weed out bad businesses and dangerous sites for consumers. Servers will be mandated to be located in-country, local licensing is obligatory, and Lithuania will earn themselves a healthy tax cut for their hosting.

Gambling is a relatively new pastime in Lithuania, where land gambling was only legalized in 2001. The first casino first opened in 2002, catering to the nation’s 3.5 million inhabitants. Since then, more casinos have been introduced, but on the whole, growth has been relatively conservative, forcing many would-be gamblers to prefer online casinos over their live venue counterparts. The new legislation is being drafted to specifically address the needs of the growing internet casino market, paying special attention to the regulation of firms. A first draft could very well be available by the middle of 2010.