New Irish Gambling Laws to be Announced in Early 2012

Written by Nick M. on 2011-12-07 at 18:14
Irish gambling laws - GamingZion
Irish Finance Minister Michael Noonan revealed that the government plans to amend Irish gambling laws increasing the remote betting tax and imposing a 15 percent tax on the gross profits earned from commissions.

We have already reported on probable changes in our Finance Minister Says New Irish Gambling Laws Will Tax Online Bets article. Noonan is hopeful that the measures will be finalized and announced in early 2012. The Minister estimates that the new taxes could generate as much as €10 million next year and €20 million in 2013 in profits for the state coffers.

The spokesperson for the Department of Finance told media that the new measure will cover both phone betting and online sportsbooks in Ireland. Any operator looking to offer these types of services in the future would have to apply for a license with a range of specific conditions including liability for payment of the new tax.

The spokesperson was unable to clarify to Ireland gambling news if operators will be able to pass the additional cost to their players. The government’s ability to enforce compliance with new measures by gambling companies operating outside the country also remains unknown.

The spokesperson shared his opinion that since gambling companies operating on the Irish markets are renowned giant groups, they should have no trouble obtaining new types of licenses and paying new taxes.

Betting exchange operators, which allow punters betting against one another, will also be liable for the new betting intermediaries duty. Current plans suggest a 15 percent tax on their gross profits from commissions.

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