Gambling business in Switzerland expands its rights. Swiss lawmakers develop regulatory rules

After a long preparation, the Federal Council passed the bill to parliament. This bill provides the permission of holding Gambling business in Switzerland. By the aforementioned, a tax exemption is also provided for casino winnings. The users of online gambling sites in Switzerland become more and more. And that is why the government wants to end the peculiar tax inequality in the state. Taxes from gambling houses will continue to be used to finance the basic part of pensions.

The new regulations will apply to roulette, blackjack and other online gambling. After long discussions and consultations with experts, the Federal Council adopted this decision. According to board members, gambling regulation will better protect users. Moreover, it will allow existing licensed casinos to provide their services also in the online sphere. Since the gambling business in Switzerland is flourishing, lawmakers are also planning to abolish the tax on lottery winnings.

The Future of Gambling business in Switzerland

Roulette, blackjack, poker: Swiss casinos will be able to offer these and other gambling online as well. Unless, of course, people approve the new edition of the Federal Law “On state regulation of gambling.” The law for the gambling business in Switzerland was adopted in September 2017. Following it, organizers will need to obtain licenses to conduct gambling at virtual tables.

Access to all types of online gambling organized without a state concession will be blocked. Only those companies that already have the right to organize lotteries can offer the services of bookmakers. They can also offer everyone new online game forms online. For example, the ability to bet on sports in real-time, that is, during the sporting events themselves, and not before them.

Casinos and lotteries in Switzerland

Companies that represent the online gambling businesses in Switzerland licensed to hold lotteries and accept sports bets. They are also required to use their net profit for charitable and socially useful purposes. Especially in the fields of culture, social work, sports, and the environment.

The net profit of the companies in 2016 amounted to almost 630 million Swiss francs. Last year, the amount of this contribution amounted to 4.5 million francs. You do not have to listen to online gambling news in Switzerland to know that each casino in Switzerland pays a tax of 40-80% of its gross income. The profit from the taxes of large casinos goes entirely to the budgets of insurance for old age and disability. Tax revenues from smaller casinos go to AHV / IV budget by 60% and by 40% to the income of the canton in whose territory the casino is located.

You can check out King Billy Casino here.