Czech Gambling Operators Speak Up 10th February 2010
Czech online gambling operators have voiced their disgruntlement at the Czech government with conservative and old fashioned gambling regulation lowering their bottom lines. Czech online gambling has experienced a major recent surge but much of it has flowed to the overseas operators who are taking away the business from the local operators. Overseas operators are not subject to the same tax laws as the locals are and are able to outcompete the locals when it comes to advertising and other promotions.
Czech online gambling operators are required to pay over 30% of their profits to the government. They are also legally required to contribute to social projects that help alleviate the externalities of gambling. With such a burden, the government is working on a new gambling bill to help protect the local industry. However, the bill does take a lot of time to get through parliament, with the frustration growing for local gambling operators.