New Czech gaming regulations implemented on January 1 | iGaming insider
           
               
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New Czech gaming regulations implemented on January 1

New Czech gaming regulations implemented on January 1

In order to improve interests and maintain consistency with European law, the Czech government legislature has formulated a new law, which will be officially implemented on January 1, 2017. The new law establishes specifications for the online gaming market, including: applying for a license; each applicant company needs to have assets of 2 million euros and a deposit of 1.1 million or 1.9 million euros, depending on the type of game … etc. The gaming market has a direct impact.

For the Czech legislature, the original intention of implementing the new law was to improve legislation and maintain consistency with European law.

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The new law also establishes regulations for the online gaming market: Operators must provide a clear organizational structure and ownership relationship in order to apply for a license. Each applicant company needs to have assets of 2 million euros and a deposit of 1.1 million or 1.9 million euros, depending on the type of game.

In addition, the applicant must not have any debt records, criminal history, bankruptcy records or liquidation records. This new rule has caused several leading online operators to temporarily withdraw from the market in order to apply for new permits. Even some of the main operators within William Hill (William Hill) may not be licensed, but the demanding gaming system of the Czech government is also prohibitive.

All authorized online operators who use the random number generator games must pay 35% of the total gaming revenue, while sports and lottery operators need to pay 23% of the total gaming revenue; operators are also required to pay an additional 19% Company’s operating income.

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