Connect with us
728x90 banner available here

Latest News

Spain provides tax cuts for online gambling

Published

on

Spain has reduced tax rates for online gambling operators in the country. The gambling industry, quite predictably, has hailed the move and termed it as an “absolutely fantastic” news.

The tax cut was announced in the recently presented 771-page annual budget.  The budget has several tax reductions for online gambling operators, most importantly a 5 per cent reduction in gross gaming revenue, slashing the tax rate from 25 to 20 per cent.

The tax cuts will fuel profits and subsequent growth in the country’s booming online gambling sector. The Dirección General de Ordenación del Juego (DGOJ), Spain’s gambling regulator, recently reported a 27 per cent year-on-year increase in online gambling revenue for the first quarter of 2018.

Santiago Asensi, managing partner of Spanish gaming law firm Asensi Abogados, told iGamingBusiness.com that the new tax regulations will be “good news for everyone”, including the government coffers, which he believes will benefit from a hike in the tax take.

Operators will be able to make better offers to the players who will not go to illegal markets,” he said. “The latest figures from the DGOJ show that all areas of online gambling are expanding, particularly with sports betting and online casino games, so I believe that these new measures will also lead to more tax being collected.

Although the DGOJ has been lobbying the Spanish government for many years to reduce tax rates for online operators, Asensi acknowledged that it would have been “politically very difficult” to introduce such changes at a time of severe austerity across the broader economy, which endured a savage downturn during the global financial crisis.

However, with the economy having expanded by 3.1 per cent in 2017, driven by a significant increase in exports, Spain’s Ministry of Finance has found the right time to bring in the changes, buried in a lengthy document alongside hundreds of other budget decisions.

The DGOJ has been working very hard to reduce the rate for years, but if a party had announced plans to reduce taxes for online gambling companies while asking for sacrifices from the general population, it wouldn’t have got many votes,” Asensi added.

However, now the Spanish economy has recovered, it is the right time.

The five per cent cut will apply to online fixed-odds betting and sports betting, fixed-odds horse racing, betting exchanges and online casino games, bingo and poker.

Companies located in the tiny Spanish enclaves of Ceuta and Melilla on the northern shores of Morocco’s Mediterranean coast will continue to be taxed at 10 per cent of online gross gaming revenues.

The tax rate on pari-mutuel sports betting gross gaming revenue was also cut from 22 to 20per cent, bringing the rate in line with state-owned betting services.

However, the tax rate for pari-mutuel horse racing and pari-mutuel pool betting gross gaming revenues has been increased from 15 to 20 per cent.

The changes were effective from July 1 and have been widely welcomed by companies with interests in the Spanish market who have long argued that the tax rates for online operators have been prohibitive. It emerged in April that Spain’s Congress of Deputies, the lower house of the national government, were looking at slashing tax rates for gambling operators.

Source: iGamingBusiness

Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Latest News

‘PAGCOR GUARANTEE’ SITE, PANANGGA KONTRA BOGUS ONLINE GAMES

Published

on

Reading Time: < 1 minute

 

“This new website will help our players easily identify and verify whether the online gaming sites are duly licensed before playing or making any payments,” ani PAGCOR Chairman at CEO Alejandro H. Tengco.

“By providing the public with a quick and accessible way to check a site’s legitimacy, we are empowering them to make informed decisions and avoid falling victim to fraudsters and scammers,”

“Illegal online gaming sites not only endanger players but also erode public trust and deprive the government of vital revenues,” giit ni G. Tengco. “The PAGCOR Guarantee is a key component of our regulatory framework to protect both the industry and the Filipino people.”

 

The post ‘PAGCOR GUARANTEE’ SITE, PANANGGA KONTRA BOGUS ONLINE GAMES appeared first on European Gaming Industry News.

Continue Reading

Latest News

Inspired Entertainment and BetMGM Launch Hybrid Dealer® Roulette 4-Ball Extra Bet

Published

on

Reading Time: 2 minutes

 

First US Deployment of Hybrid Dealer Roulette 4-Ball Extra Bet

Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE), a leading provider of B2B gaming content, systems, and solutions, is pleased to announce that BetMGM, a leading iGaming and sports betting operator, is the first in the United States to introduce the innovative Hybrid Dealer Roulette 4-Ball Extra Bet game, under a three-month exclusive agreement.

Inspired’s Roulette 4-Ball Extra Bet is an integral part of the Hybrid Dealer portfolio, blending original game design with patented technology to create an innovative roulette experience. This game introduces a unique twist—4-Ball Extra Bets—offering players brand new wagering options with potential payouts reaching up to 500/1.

The 4-Ball Extra Bet adds four additional balls on a new inner wheel, allowing players to place side bets on a color match between the inner and outer wheels. Bets can be placed via the standard roulette table, a neighbor bets table, or through a dedicated special bets interface that includes features such as hot and cold numbers.

Hybrid Dealer is a patented, game-changing online product category that offers players a rich casino and game show content experience without the challenges typically associated with live-dealer products. This technology combines the excitement of a live casino environment with the efficiency and consistency of CGI and pre-recorded hosts, delivering a reliable and engaging gaming experience.

The Hybrid Dealer platform is a patented innovation that has already gained recognition for its ability to replicate the thrill of a live casino while providing operational advantages. Hybrid Dealer Roulette 4-Ball Extra Bet is the third game launched within this innovative portfolio, featuring stunning Virtual CGI visuals and pre-recorded hosts.

Throughout gameplay, Hybrid Dealer technology ensures ultra-realistic action and smooth visual transitions, creating an environment that closely resembles a live casino experience. The game also incorporates social engagement features, including big win leaderboards and a quick chat function, fostering a lively, community-oriented atmosphere.

Available across online and mobile platforms around the world, Hybrid Dealer Roulette 4-Ball Extra Bet is poised to set a new standard in digital roulette gaming—combining innovation, realism, and social interaction.

Brooks Pierce, President and CEO of Inspired Entertainment, said: “We are excited to partner again with BetMGM to bring the first US deployment of our groundbreaking Hybrid Dealer Roulette 4-Ball Extra Bet. This game exemplifies our commitment to delivering innovative, engaging gaming experiences that captivate players and support our partners’ growth in the digital space.”

Oliver Bartlett, VP of Gaming, BetMGM, said, “Partnering with Inspired to introduce Hybrid Dealer Roulette 4-Ball Extra Bet marks an important milestone for us in delivering innovative gaming experiences to our players. This game’s immersive visuals and unique betting features will undoubtedly enhance our online casino offering and set a new standard for digital roulette.”

 

The post Inspired Entertainment and BetMGM Launch Hybrid Dealer® Roulette 4-Ball Extra Bet appeared first on European Gaming Industry News.

Continue Reading

Latest News

Connor Williams: ‘iGB L!VE is critical in encouraging more collaboration, challenging tired thinking, and charting a path forward for the industry.’

Published

on

Reading Time: 3 minutes

 

Connor Williams has been a director at Velo Capital Partners for more than 6 years, managing over 35 portfolio companies including the likes of Oddin, WinZO, and Novig.

His core thematic focuses include next gen casino content, B2C regulatory arbitrage, and the ‘gamblification” of mass market sectors such as video gaming and finance. He explains why Pitch iGB is critical to the industry, the impact of over-regulation on innovation and the importance of keeping a ‘fresh mind’.

You are part of the judging panel for Pitch iGB – how important do you think it is for the industry to come together and support new entrepreneurial businesses?

CW: The Pitch iGB competition is one of the key routes to democratising startup investing in the sector which is critical in unearthing new and disruptive businesses. This is even more critical to developed regions like the UK where innovation opportunities can be overlooked in the service of “safe and consistent”.

What are you looking for in terms of entries – what constitutes a winning submission?

CW: As a VC investor we target outsized returns on our investment for the early stage risk that we take. This means a winning submission needs to be swinging for the fences in terms of both scalability and disruption. Product is currently quite stale, user experience is far from being optimised, and over-regulation is stymying the incumbents and that’s where the opportunity lies.

In your experience how difficult is it for iGaming businesses to secure funding from the mainstream banking sector?

CW: The banking sector is risk constrained from a number of different angles and this is important to understand in the context of available funding for iGaming. That being said, the fintech sector at large is very keen to engage more with our sector, especially around payments. External funding in iGaming in general is more difficult to obtain, this holds true for listed businesses as well as startups, partially due to structural restrictions within the finance sector and partly due to a history of several bad actors on the operator side that the industry has yet to overcome. I think this challenge represents a specific opportunity for in-sector speciality lending not dissimilar to user acquisition financing businesses in the consumer and video gaming sectors.

How does the event contribute to the health of the industry: what do businesses gain from participating in iGB L!VE?

CW: Our sector is one that has historically been a bit disconnected, particularly at the large operator and supplier level. These events are critical in encouraging more collaboration, challenging tired thinking, and charting a path forward for the industry that (in my view) eventually needs to lead to the mass market the way the likes of online consumer and fintech businesses have. In order to achieve this the industry needs to be able to demonstrate that tech is now at a place where players can be almost completely insulated from player harm; and operators need to finally embrace this as the days of high staking whales (in regulated markets like the UK) are clearly coming to an end.

How would you describe the iGB L!VE experience – what does it deliver?

CW: iGB is like a cheat-sheet for all the latest happenings in the gaming sector, it’s an amazing opportunity to catch up with colleagues and meet new players in the market. In addition, one gets the latest insights of the industry’s thought leaders that you won’t get without travelling outside of the country.

In your view what are the main trends and technologies impacting the industry and that will be evident on the iGB L!VE show floor?

CW: The industry is currently reeling from a combination of over-regulation and over-taxation. This has lead to two predominant trends in regulated markets: a decisive shift to the black market and the rise of crypto solutions (the two not being wholly mutually exclusive). B2B tech is largely solved at this stage and is seeing a retreat due to the failure of B2B incumbents to innovate sufficiently, while services and content are still exciting places to cast an eye in the vertical. Specifically on the content side, we are seeing many operators attempt to shift this in-house (with limited success to date) which is seeing content providers shifting more towards innovation in content that is starting to cross into casual mobile gaming mechanics. AI remains a sector that iGaming is significantly behind other industries on and I am hoping we hear more about shifts towards agentic thinking, scalable solutions to sub-par AI art/animation/content to-date, and more ambitious pushes towards long term value drivers (such as bespoke gambling LLMs and innovation around classical model training loops).

How important is it that iGB L!VE is taking place in London a city regarded as being the home of iGaming?

CW: iGB is critical for visitors as the major industry event in the UK. As a market that is highly regulated and developed, iGB is critical to help one keep a fresh mind on industry trends and meet new entrants that are changing the rules of the game.

 

The post Connor Williams: ‘iGB L!VE is critical in encouraging more collaboration, challenging tired thinking, and charting a path forward for the industry.’ appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.