Working conditions of the legalized online gambling market in Belarus
The decree of the Alexander Lukashenko (President of Belarus), regarding the liberalization of online casinos was signed in August of this year. According to what rules will the new market be regulated and what are the results of the first months of the operation online gambling industry?
Decree No. 305 “On the improvement of the legal regulation of the gambling business” provides specifics of licensing and determines the amount of tax rates for online casinos. The decree also defined requirements for betting operators.
According to the new rules, the owners of online casinos need to open a security deposit in case of their own ruin, to ensure the timeliness of compensation payments to customers.
In addition, the decree has orders regarding the mandatory identification of players of virtual casinos. Ground-based casinos undertake to arm themselves with video surveillance systems to record the facts of paying cash rewards to visitors, as well as to monitor their actions in a gambling establishment.
Market liberalization is designed to stop cash outflows from the country. It is also beneficial to operators, because after the adoption of the decree they will have the opportunity to advertise their services online and in the media, as well as within the official gambling ratings.
However, there are negative aspects of the adoption of the decree - a complex process of identifying players, coupled with additional cash expenditures, as well as payment of tax obligations that cannot be redirected to players.
Players, for their part, react to liberalization differently. Someone believes that the government’s move is right, as it will allow to replenish the treasury and ensure the safety of participation in gambling. Some does not support innovations, since the anonymity of the player provided earlier became impossible due to the mandatory identification system.
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