Online Casino Transfer: News - Easterns European Nations Consider Legalization

08/01/2010		Online Casino Style: News Eastern European Nations Consider Legalization
Home History Games News Dictionary		Two more countries are considering legalizing online gambling this month with news that the Eastern European nations of Romania and Moldova are giving serious consideration to the industry to help raise much needed tax funds. The report was first filed by the news source MediaFax and has since spread to a number of online gambling industry posts, as market eyes turn towards the duo to evaluate the chances of legalization actually happening. Bogdan Dragoi, the secretary to the Finance Ministry of Romania made a statement to the publication confirming the rumors that the country’s government was interested in internet gambling as a new key source of levy funds. Should the industry be regulated, it could very well make a lot of money for the government with no new taxes raised against the majority of residents. The first step, Dragoi said, will be a clear evaluation on the market as a whole, which has been estimated to be worth as much as €500 million annually on offshore internet casino sites. Gambling as a whole is a relatively new idea for Romanians, as the live versions of traditional and favorite games have only been legalized since last year, when laws were amended to make room for the past time. The resulting taxes on even basic games created a surge in funds for the state, equal to 550 million lei, compared to just 120 million 2008. "After the law was amended, gambling revenues increased considerably," the minister said, adding, "...we are looking into ways to regulate online gambling, and, if we manage to control money [tax] collection, we will authorize them." Meanwhile, the neighboring Moldova government are making similar considerations, as they announced a project to be completed in partnership with the European Union’s support to amend legislature to accommodate the trade laws for not only traditional casino gambling, but internet gambling as well. It will mean a big change for the nation, as online gambling is currently not regulated or licensed in Moldova. Though the project is being called a restructuring of systems to accommodate international cooperation in the market, it will require a new set-up of licensing protocol as well as security and regulation.

08/01/2010

Online Casino Style: News
Eastern European Nations Consider Legalization

Two more countries are considering legalizing online gambling this month with news that the Eastern European nations of Romania and Moldova are giving serious consideration to the industry to help raise much needed tax funds. The report was first filed by the news source MediaFax and has since spread to a number of online gambling industry posts, as market eyes turn towards the duo to evaluate the chances of legalization actually happening.

Bogdan Dragoi, the secretary to the Finance Ministry of Romania made a statement to the publication confirming the rumors that the country’s government was interested in internet gambling as a new key source of levy funds. Should the industry be regulated, it could very well make a lot of money for the government with no new taxes raised against the majority of residents. The first step, Dragoi said, will be a clear evaluation on the market as a whole, which has been estimated to be worth as much as €500 million annually on offshore internet casino sites.

Gambling as a whole is a relatively new idea for Romanians, as the live versions of traditional and favorite games have only been legalized since last year, when laws were amended to make room for the past time. The resulting taxes on even basic games created a surge in funds for the state, equal to 550 million lei, compared to just 120 million 2008. "After the law was amended, gambling revenues increased considerably," the minister said, adding, "...we are looking into ways to regulate online gambling, and, if we manage to control money [tax] collection, we will authorize them."

Meanwhile, the neighboring Moldova government are making similar considerations, as they announced a project to be completed in partnership with the European Union’s support to amend legislature to accommodate the trade laws for not only traditional casino gambling, but internet gambling as well. It will mean a big change for the nation, as online gambling is currently not regulated or licensed in Moldova. Though the project is being called a restructuring of systems to accommodate international cooperation in the market, it will require a new set-up of licensing protocol as well as security and regulation.