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Eastern European Governments Open to Prospect of Regulating Online Casinos

12 July 2010 by Devon Chappell

These days, the benefits of regulating online gambling are looking, well, more beneficial. Especially in countries that are experiencing more hardship during these tough economic times, any way to generate more tax revenue to keep government programs afloat is more readily embraced, even by those who would normally be in opposition.

Such is the case in Eastern Europe, where the governments of both Romania and Moldova are seriously considering the prospects of legalizing and regulating many forms of internet betting, including online casino gambling. In Romania alone, it is estimated that $500 million Euro’s are spent wagering online.

Secretary of State for the Finance Ministry of Romania, Bogdan Dragoi, has openly stated that the Finance Minister is seeking to investigate the prospects of regulating online gambling. Doing so would assuredly help Romania’s ailing economy, which was hard hit by the global recession. Currently the law prohibits gaming operators from doing business with operators, but does not prohibit Romanians from partaking in online gambling activities, which many assuredly do.

Giving promise to the potentially positive effects of regulating online casinos in Romania is last year’s amendment to a law regulating brick ‘n mortar casinos. By simply raising the tax rate on casinos, the government was able to substantially increasing gaming revenue. Although applying to the land-based industry, the principle of taxation coupled with a demand for gambling by many Romanian’s cannot be denied.

In nearby Moldova, the Ministry of the Economy has initiated a project with funding from the European Union to amend current gambling regulations. Becoming compliant with EU trade laws is helping to facilitate the project, which currently is making slow progress. If and when a majority consensus is obtained regarding how to go about setting up effective regulatory framework, it is rumored that both Party Gaming (Party Casino) and Poker Stars will be amongst the first to apply and likely be issued online gaming licenses for doing business in Moldova.

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One Response to “Eastern European Governments Open to Prospect of Regulating Online Casinos”

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