Ireland Delays Online Gambling Reforms

Written by Derek S. on 2012-05-30 at 16:04
internet betting in Ireland - GamingZion
Ireland is another country in Europe seeking to license internet betting in Ireland. The move seeks to bring new regulations for both casinos and sportsbooks operating online.

So far, many offshore sites were able to provide betting to the Irish under existing Irish gambling laws. In ways similar to Spain, Ireland is seeking to bring these under control and tax them.

However, the financial problems in Ireland, and the need to pass new sets of austerity measures in order to avoid going the way of the Greeks, have the Irish lawmakers and the government less pre-occupied with gambling reform. This may be a good sign for the online sportsbooks as the Euro 2012 Football Championships are coming, while the London Olympics are just around the corner.

Since the laws intended to appease the European Central Bank and the International Monetary Fund are the top priority, the gambling reform in Ireland will likely be tackled in early 2013, with possible new laws to be effective no sooner than 2014. The gambling laws in Ireland go back as early as 1950s, but these, of course, didn’t take Internet gambling into consideration. The delay is giving more time to prepare for online gambling sites in Ireland.

Once a high flying economy, even called a Celtic Tiger, now Ireland is classified by the economists as one of the PIGS countries (P=Portugal, I= Ireland, Italy, G=Greece, S=Spain). The economic problems, however, are due more to real estate speculation than to living beyond the means the way Greeks did.

This raises hopes for eventual recovery. Meanwhile, gambling in Ireland continues despite deep recession. The fact that the Irish national football team is participating in Euro 2012 tournament will likely add to the wagering sums.

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