Call for Online Casino Regs in Bulgaria
There are quite a few voices in Bulgaria that are pushing hard and speaking up in favor of online casino gambling regulations in the country. Right now, internet sports bookies are rampant in the market, and there is one Bulgarian sports betting company in particular, Eurofootball, that is actively seeking regulation in the Bulgarian market so that the company can be more competitive with foreign online casinos. In an unregulated, or unfairly regulated market, the foreign betting and gambling companies are able to access the gamblers within the country without being forced to pay any taxes to the state government, while in-state local companies lack the competitive advantage, because they are paying state taxes.
Eurofootball thinks that the Bulgarian government is going down the totally wrong lines right now in terms of new taxes on state gambling companies. Eurofootball is facing 5 percent higher taxes this coming year as a way to even out Bulgarian gaming laws and to additionally push some new revenue into the nation’s budget. But the potential for online casinos is endless, and Eurofootball is pressing for the Bulgarian government to consider the huge boost in revenue that regulated gambling would bring rather than the smaller revenue that hiking state betting taxes offers.
The hike in taxes is a very strong burden for Eurofootball and will affect the company’s ability to stay competitive not only in the market, but with foreign online casinos. One of the big issues right now still lies in the interpretation of EU rules and policies. The strongest theory holding that internet gambling is legal within any EU member-state that is offering its own forms of gambling.
