Europe Continues to Set Examples for American Online Gambling Market

Many European countries have been struggling to decide what is best for their citizens when it comes to online gambling. Most members of the European Union are sticking to legalized yet regulated online gambling laws that allow for free trade while still ensuring the safety of online gamblers.

Countries such as France, Italy and the UK have already announced their online gambling laws which differ slightly between each country but still uphold the European Union’s rule that countries should allow foreign operators access to their online gambling market.

Cypress has allowed online gambling since 2007, but has changed several rules to better accommodate the European Union. Now, officials are tossing around the idea of getting rid of online gambling completely but must first commit to a pros and cons list, as well as a public consultation.

Denmark legalized online gambling in early June 2010, much to the chagrin of land based casinos who complained that the competition is unfair. The European Commission will be reviewing the complaints based on the difference in the way the industry is taxed. Land based casinos face tax rates anywhere from 45 to 75 percent while online casino operators are required to pay just 20 percent in taxes. While the European Commission deliberates on this complaint, rates will remain as is. They will only change once a final decision has been reached.

Tags: Cypress online gambling, Denmark online casino, EU, European online gambling laws, European Union, free trade, legalized online gambling

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