Online Casino

There is a great deal of cheer in the Czech Republic this Christmas amongst online gambling fans. It has just been announced by Radio Praha that following years of dogged determination and lobbying, five of the country’s largest bookmakers are set to receive permits to introduce Internet gambling from the country’s Finance Ministry.

Fortuna is one of the companies believed to be in line for a permit and their company executive, Tomáš Bahník has spoken on the radio about why he feels this is such an important victory for Czech bookmakers. He told the station’s reporter that for a long time, the country’s bookmakers had to watch helplessly as foreign online gambling operators were able to run their businesses with the Czech Republic’s borders without any restrictions or controls. Now they have the opportunity to compete on an even footing with foreign companies.

Part of the argument that swayed the favourable outcome was the fact that Czech betting companies were losing what amounted to the equivalent of several hundred million dollars every year to foreign Internet gambling companies and along with it the huge contribution to the country’s taxes. By granting the permits for local companies to operate within the Czech Republic, the country would benefit from the reclamation of those taxes from registered and legally controlled local companies.  

Bahník said that the date for action set for the permits’ issue was 5th January 2009. The companies that will be receiving the licenses are already prepared to launch their operations on that date. Naturally, the regulatory regime in charge of overseeing the newly licensed companies would be rigid and the operations closely monitored. This is in clear contrast to the leeway offered to foreign online gambling operators.

As every citizen, including teenagers is able to use Internet betting sites without control, the main goal of the newly licensed companies is to control the situation. A citizen must first register and show their ID in a real brick and mortar office before they can bet on the Internet using Fortuna. This is something not done by foreign companies.

Bahnik added that one of the chief reasons which persuaded the Czech government to agree to a regulatory licensed system was the ready acquiescence shown by local companies in complying with the strict regulation and the many precautions put into place to protect gamblers. 

In neighbouring Slovakia, where regulated Internet gambling has been allowed for some time, Internet operations take about 20 percent of the market. This leaves the rest to conventional brick and mortar companies.