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Gambling is perhaps the only vertical in Israel that has not high tech. In almost every other sphere, the technology and the R&D surrounding have so advanced that the country has rightfully earned the tag of startup nation.
The Israeli government and courts have been taking a strong stance against liberalising online gambling. It was in 2005, when smartphone casinos were a not even a common reality, the country’s Attorney General slapped penalties on credit card companies that facilitated online gambling.
That is how the system works in Israel. However, the change is near, there is a chance, if a new trade bill with Guatemala is any indication.
The legislature in Guatemala is on the verge of passing a bill to liberalise the country’s gambling sector. A consortium of Israeli investors has shown interest in investing in Guatemala’s gambling sector. The investment is estimated to be worth $2 billion and top personalities like Las Vegas mogul Sheldon Adelson are involved.
This shows how Israeli investors are expanding their gambling portfolios abroad. Well-known Israeli-owned e-gambling companies like Playtech are experiencing difficult times. With competition rising from Chinese operators, the gambling software developer has seen profits dip dramatically. In those circumstances, loosening restrictions on domestic operators could become a safety valve for struggling tech firms.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Will online gambling be liberalized in Israel
