The Ministry of Finance in Italy is poised to dramatically revise the nation’s online gambling legislation, aiming for more stringent controls and higher concession costs.
In a groundbreaking move, Italy’s Ministry of Finance is on the brink of publishing a preliminary decree that outlines considerable changes to the nation’s online gambling legislation. Marking the first such overhaul since 2011, this decree underscores the need for revisiting the regulatory framework.
Central to the proposed changes are amendments to online gambling concessions and licensing fees. The ministry has expressed concerns about the current undervaluation of online gambling concessions. As a remedy, it suggests introducing a model where the concession fees would soar to €7m – a staggering 20-fold increase compared to the average fees operators currently pay.
To further streamline operations, a cap of five licenses per operator is suggested. This move aims to curb the prevailing trend of multiple skin websites endorsing products from a solitary concessionaire. This practice had previously been under the scanner of the ADM, the regulatory body. Furthermore, an additional annual adjustment fee pegged at 2% of online gross revenues is under consideration. However, the draft decree stops short of introducing tax amendments.
A novel introduction is the recommendation for a Public Gambling Council. Entrusted with overseeing gambling activities, this council would be instrumental in suggesting and implementing protective measures. Complementing this, government bodies would ramp up efforts to mitigate illegal gambling activities.
All these proposals, as outlined in the preliminary decree, are slated to be presented to Prime Minister Giorgia Meloni alongside the 2024 Budget Law.
In tandem with the online domain, Italy is also steering efforts to restructure its land-based gambling sector. This entails a more uniform regulatory approach across its regions.
In related news, the European Gaming & Betting Association (EGBA) has been vocal about urging Italy to rethink its stance on the prohibition of gambling advertisements. This plea gains traction in light of recent findings published by La Gazzetta dello Sport. The Italian daily highlighted that local bettors annually wager €25bn through unlicensed operators, with a significant €18.5bn channeled to unregulated gambling websites.
Tags: #Italy #OnlineGambling #FinanceMinistry #ConcessionFees #RegulationRevamp
