Bulgarian gambling laws are all set to change at last, as the government finally does away with the controversial gambling blacklist that blocked a number of high profile gambling sites. The blacklist has been in operation since June 2013, and the government has come under pressure from the EU to change the situation.
Currently, online casinos in Bulgaria are seen as completely unprofitable thanks to a very high level of taxation coupled with the high cost of gambling licenses. As such, most operators chose not to obtain Bulgarian licenses, leading to the situation earlier this year where the government blacklist reached huge numbers.
Now, however, a number of new amendments are likely to change the rules, making the market much more profitable and encouraging operators to return to the country. The new laws will replace the current taxation system with a one off license fee payment of around EUR 50,000, as well as a 20% tax on certain incomes. This is seen as far superior to the current system.
The bill was put forward by 11 MPs from the two parties in the Bulgarian government on November 13th, and the changes will surely be seen as a big plus by the EU, who have been campaigning for changes in the country for a while now. One potential positive for the market is the inclusion of a number of new mobile casinos in the country.
The move comes just a couple of weeks after more new names were added to that blacklist that will now be scrapped. At the end of October, 10 new names were added, while the beginning of November saw another 5 joining the list. Those operators are likely to be able to apply for new Bulgarian licenses now, licenses that will allow them to offer legal online gambling services throughout the country.