Switzerland is about join the ranks of fellow states that regulate online gambling, as they move to implement the lucrative industry in their country for the first time.
Swiss government officials have released an initial draft of the new gambling bill that will see mobile casino gambling become a reality.
Reports indicate that the bill will permit traditional land-based casinos in Switzerland to apply for licenses that will enable them to provide gambling services on the internet.
Additionally, the law does make any mention of overseas gaming providers, and whether they will be allowed to enter and operate in the Swiss market.
Currently, the bill is under revision until August 20, 2014. The good news for gamblers is that they will not be liable to pay any taxes on their online winnings, under the new Swiss gambling laws.
Furthermore, small poker tournament will have the chance to be staged outside land-based casinos under certain rules that will be announced imminently.
Great desire for online gambling
Switzerland’s casinos have suffered a slump in economic activity in recent years, as many gamblers opted to join online providers. This propelled the Swiss Federal Government to look at ways to boost its gaming market.
Licensing policies will be regulated and enforced by each of the 26 Swiss cantons. Nevertheless, there will be an internal authority responsible for maintaining the gaming standards and practices for the entire country.
The intro-national regulatory body will have the task to “institutionalize the exchange of ideas and cooperation between the authorities of the Confederation and the cantons”.