Proposal Archives - Keno Wizard https://kenowizard.com/tag/proposal/ The Ultimate Keno Destination for Odds, Tips & Tricks Tue, 20 Aug 2024 15:11:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Proposal Archives - Keno Wizard https://kenowizard.com/tag/proposal/ 32 32 230792155 Montenegro’s Gambling Winnings Tax Proposal Faces Strong Opposition https://kenowizard.com/2024/08/20/montenegros-gambling-winnings-tax-proposal-faces-strong-opposition/ https://kenowizard.com/2024/08/20/montenegros-gambling-winnings-tax-proposal-faces-strong-opposition/#respond Tue, 20 Aug 2024 15:11:28 +0000 https://kenowizard.com/2024/08/20/montenegros-gambling-winnings-tax-proposal-faces-strong-opposition/ Montenegro’s government has introduced a proposal to impose a 15% tax on gambling winnings, as part of a broader fiscal strategy aimed at offsetting significant budgetary shortfalls. The proposed tax, which is expected to generate an additional €5 million annually for the state budget, is outlined in the draft amendments to the personal income tax [...]

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Montenegro-Government-Proposes-15-Tax-on-Gambling-WinningsMontenegro’s government has introduced a proposal to impose a 15% tax on gambling winnings, as part of a broader fiscal strategy aimed at offsetting significant budgetary shortfalls. The proposed tax, which is expected to generate an additional €5 million annually for the state budget, is outlined in the draft amendments to the personal income tax law. However, the move has triggered alarm among gambling operators in the country, who warn that the tax could have severe consequences for the industry and state revenue.

Gambling Operators Warn of Revenue Decline

The Gambling Operators’ Association, affiliated with Montenegro’s Chamber of Commerce, has raised serious concerns about the proposed tax in discussions with the Ministry of Finance. They argue that similar taxes in other countries have led to substantial drops in payments from licensed operators, estimating a potential 30% decline in Montenegro. This, they claim, would reduce the state’s income from gaming fees, effectively negating the anticipated gains from the new tax. They have urged the government to reconsider the proposal, fearing it will push players towards unlicensed, black-market alternatives where winnings are not taxed.

A Troubled History with Gambling Taxation

This is not the first time Montenegro has attempted to tax gambling winnings. In December 2014, the Montenegrin Parliament approved a similar measure, set to take effect in January 2015. However, due to the Ministry of Finance’s failure to implement necessary regulations, the tax was never enforced. The law was repealed in December 2015 following significant public opposition, including a petition with 18,000 signatures—one of the largest in the country’s history. Now, nine years later, the government is attempting to reintroduce the tax, which would apply to all gambling winnings, calculated as the difference between the wager and the payout. Gambling operators would be responsible for calculating and withholding the tax, submitting it to the authorities by the next working day.

The proposed tax is part of a broader package of measures designed to address an estimated €280 million shortfall from planned reductions in pension contributions. Despite the fiscal pressures, the Gambling Operators’ Association believes that the proposed tax will ultimately do more harm than good, by driving players to untaxed and unregulated platforms, thereby reducing overall state revenue from the gambling sector.

Technical Challenges and Legal Conflicts

The Association has also highlighted significant technical and legal issues with the proposed tax. They point out that the new tax law conflicts with the existing Gambling Act, particularly in how “winnings” and “wagering” are defined and calculated. Different forms of gambling—such as casinos, slot machines, betting shops, and lotteries—treat wagers differently, complicating the tax’s implementation. Without clear definitions and consistent application, the Association warns that the tax could create confusion and compliance challenges.

Comparisons with Regional and EU Practices

Montenegro is not alone in considering a tax on gambling winnings. In neighboring countries like Croatia and the Federation of Bosnia and Herzegovina, similar taxes have been in place for over a decade, though with mixed results. In Croatia, small winnings under €100 are exempt, while in the Federation, winnings under 100 marks (€50.5) are also exempt. Both jurisdictions have seen declines in gambling revenue following the introduction of these taxes, with some operators losing players to untaxed online platforms.

The EU does not enforce a standardized approach to gambling taxation, leaving member states to establish their own regulations. This has resulted in significant variations in tax rates and coverage across Europe. For example, Croatia applies varying tax rates on lottery and betting winnings, ranging from 10% to 30%, depending on the amount.

Public Opposition and Petition Campaign

In response to the proposed tax, a petition campaign has been launched by the Montenegro Bet Association, which represents several of the country’s gambling operators. The petition, published in Vijesti, calls on players to oppose the 15% tax on winnings, arguing that it constitutes “a tax on a tax” and conflicts with both Montenegrin and EU law. The campaign aims to collect at least 6,000 signatures to submit a proposal to the Montenegrin Assembly to amend the law. The petition emphasizes the potential closure of Montenegro’s legal gambling industry and the loss of 3,000 jobs if the tax is implemented as proposed.

Source:

“Montenegro Government Proposes 15% Tax on Gambling Winnings as Industry Reacts.”, montenegrobusiness.eu, August 18, 2024.

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Caesars Shareholders Reject Proposal to Study the Benefits of Going Smoke-Free https://kenowizard.com/2024/06/18/caesars-shareholders-reject-proposal-to-study-the-benefits-of-going-smoke-free/ https://kenowizard.com/2024/06/18/caesars-shareholders-reject-proposal-to-study-the-benefits-of-going-smoke-free/#respond Tue, 18 Jun 2024 23:06:10 +0000 https://kenowizard.com/2024/06/18/caesars-shareholders-reject-proposal-to-study-the-benefits-of-going-smoke-free/ Caesars Entertainment’s shareholders are apparently not on board with a recent proposal to study the effects of smoke-free casinos. While activists continue to fervently promote the idea of smoke-free casinos, citing health-related concerns, gambling companies and their investors remain obstinate in maintaining the status quo. The proposal was filed by public health and labor advocates [...]

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Caesars Entertainment’s shareholders are apparently not on board with a recent proposal to study the effects of smoke-free casinos. While activists continue to fervently promote the idea of smoke-free casinos, citing health-related concerns, gambling companies and their investors remain obstinate in maintaining the status quo.

The proposal was filed by public health and labor advocates from the Americans for Nonsmokers’ Rights Foundation and healthcare provider Trinity Health. The aforementioned organizations suggested that implementing a non-smoking policy across Caesars’ 52 properties in the United States could help the company save up money.

However, approximately 80% of Caesars’ shareholders voted against the proposal, following Caesars’ claim that change isn’t needed. For context, the casino operator described its smoking policy as a “complex business decision” and added that it currently complies with local regulations.

Caesars further explained that it doesn’t believe compiling a report on the effects of smoke-free casinos wouldn’t be an “effective use of company resources.”

Smoke-Free Activists Are Encouraged to Continue the Fight

While the proposal was rejected, its proponents said that they were encouraged by the support it received and plan to bring it back in 2025. For context, almost 19% of Caesars’ shareholders voted in favor of the support, sparking hope about the future of smoke-free casinos.

Paula Larson-Schusster, president of United Auto Workers Local 3555 and dealer at Caesars’ Flamingo casino hotel in Vegas, said that the support represents a “forward move.” She added that companies will not be convinced to go smoke-free easily but added that the proposal was but the first step in raising awareness on the matter.

Larson-Schusster was firm that a smoke-free policy would not hurt casino companies’ product but would actually make it more valuable.

Indoor smoking continues to be one of the hot topics of the American casino industry. Many states exempt casinos from the indoor smoking ban, allowing them to dedicate a portion of their gaming area as a smoking zone.

However, proponents of banning smoking at casinos argue that this exposes casino workers to high levels of unhealthy smoke and can potentially lead to health complications.

While casino companies fear that going smoke-free could deal a blow to their profits, supporters of this change point out that there are already casinos that prohibit smoking without seeing a decline in profits.

The multi-front war on smoking also continues in states such as Pennsylvania where CEASE and UAW recently asked lawmakers to end the loophole that allows casinos to offer indoor smoking.

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Swedish BOS Opposes New Credit Card Ban Proposal for Gambling https://kenowizard.com/2024/05/27/swedish-bos-opposes-new-credit-card-ban-proposal-for-gambling/ https://kenowizard.com/2024/05/27/swedish-bos-opposes-new-credit-card-ban-proposal-for-gambling/#respond Mon, 27 May 2024 14:06:54 +0000 https://kenowizard.com/2024/05/27/swedish-bos-opposes-new-credit-card-ban-proposal-for-gambling/ The Swedish Trade Association for Online Gambling (BOS) has formally submitted its statement to the Ministry of Finance regarding the memorandum titled “A new ban on gambling on credit,” which proposes a ban on the use of credit cards for gambling. BOS has firmly rejected this proposal, citing significant negative consequences for channelization. Gustaf Hoffstedt, [...]

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Swedish-BOS-rejects-the-proposal-A-new-ban-on-gambling-on-creditThe Swedish Trade Association for Online Gambling (BOS) has formally submitted its statement to the Ministry of Finance regarding the memorandum titled “A new ban on gambling on credit,” which proposes a ban on the use of credit cards for gambling. BOS has firmly rejected this proposal, citing significant negative consequences for channelization.

Gustaf Hoffstedt, Secretary General of BOS, explained the association’s stance [pdf], emphasizing that such a ban would likely push consumers towards unlicensed and illegal gambling platforms, which currently constitute almost half of the Swedish online casino market. Hoffstedt stated, “In the name of consumer protection, Sweden should not add new restrictions on consumers that still place their bets on the legal gambling market.”

Alternative Proposal Suggested by BOS

If the government decides to proceed with the ban, BOS proposes an alternative approach: instead of placing the obligation on gambling operators, the responsibility should be on credit card issuers. Under this model, the Swedish Financial Supervisory Authority (Finansinspektionen) would supervise credit card issuers to ensure they do not process payments for gambling companies, including those operating illegally or without a license.

BOS argues that this approach would more effectively prevent the use of credit cards for gambling while avoiding further burdens on licensed operators. Hoffstedt pointed out that licensed gambling operators are already heavily restricted and additional limitations could drive more consumers towards the unlicensed market, undermining consumer protection goals.

BOS’s Rationale for Rejection

BOS has consistently supported measures to prevent gambling on credit. However, the association draws a line at banning credit cards, which are a common and regulated form of payment. “At least one credit check is conducted before issuing a credit card,” Hoffstedt noted, “and in most cases, credit is repaid monthly, accruing no interest.”

The association also highlighted that credit card usage for gambling is on the decline, with many consumers shifting to other payment methods like Swish. Those who do use credit cards for gambling are typically older with more organized finances, and the prevalence of problem gambling among them is relatively low.

The biggest challenge, according to BOS, is the prevalence of unlicensed gambling, a view shared by Finance Market Minister Niklas Wykman. Hoffstedt stressed that restrictive measures against licensed operators, such as the proposed credit card ban, combined with inadequate countermeasures against unlicensed operators, have led to a significant outflow from the legal gambling market. “This must end,” he said, emphasizing that enhancing the attractiveness of the licensed market is crucial for effective regulation.

Concerns Over Government’s Approach

BOS expressed concern over the government’s tendency to exempt state-owned or controlled gambling operators from new restrictions, creating an uneven playing field. The association fears that this might undermine competitive neutrality and consumer confidence.

In conclusion, Hoffstedt reiterated BOS’s position that the proposal to ban credit cards for gambling should be rejected. He emphasized that effective regulation should include measures to counteract unlicensed gambling while supporting the legal market.

“Sweden’s largest online casino operator is likely unlicensed,” Hoffstedt noted, underscoring the need for balanced regulation. BOS believes that imposing the ban on credit card issuers rather than gambling operators is a more effective and fair approach to achieving the intended consumer protection goals.

Source: Press release: BOS rejects the proposal A new ban on gambling on credit. BOS. May 23, 2024.

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Thor Equities Refines Coney Island Casino Proposal https://kenowizard.com/2024/05/20/thor-equities-refines-coney-island-casino-proposal/ https://kenowizard.com/2024/05/20/thor-equities-refines-coney-island-casino-proposal/#respond Mon, 20 May 2024 19:30:10 +0000 https://kenowizard.com/2024/05/20/thor-equities-refines-coney-island-casino-proposal/ Thor Equities, alongside its partners Saratoga Casino Holdings, the Chickasaw Nation, and Legends, has unveiled a refined vision for its ambitious casino project in Coney Island, Brooklyn, now branded simply as The Coney. The $3 billion development plan transcends traditional gaming, promising a comprehensive entertainment and hospitality hub. However, the project has faced substantial backlash [...]

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Thor Equities, alongside its partners Saratoga Casino Holdings, the Chickasaw Nation, and Legends, has unveiled a refined vision for its ambitious casino project in Coney Island, Brooklyn, now branded simply as The Coney. The $3 billion development plan transcends traditional gaming, promising a comprehensive entertainment and hospitality hub. However, the project has faced substantial backlash from locals worried about its long-term effects.

New Updates Aim to Win Over Locals

The proposal, first introduced in March 2023, has been updated to include a 500-room hotel, a 2,500-seat concert venue, 70,000 square feet of retail space, and 90,000 square feet of meeting and event facilities. This multifaceted development aims to revitalize the area, offering locals and visitors a vibrant, year-round destination.

Sam Gerrity, CEO of Saratoga Casino Holdings, one of the companies in the consortium behind the project, was adamant that the planned casino resort would provide substantial benefits, creating careers, supporting local businesses, and attracting more visitors with its expanded entertainment options. He was confident that The Coney would positively affect the area, enhancing locals’ day-to-day lives.

[Coney Island] needs a project that provides year-round economic support while also lifting up the infrastructure in one of the most densely traveled areas of the community.

Sam Gerrity, Saratoga Casino Holdings CEO

The casino resort’s newly updated renderings showcase Thor Equities’ vision for the five-acre site between Stillwell Avenue, West 12th Street, and Wonder Wheel Way. The design aims to seamlessly integrate with Coney Island’s historical and cultural fabric, enhancing its appeal as a premier entertainment destination. However, the project must overcome fierce competition in the fight for the limited licenses.

The Project Faces Stiff Competition

While Thor Equities and its partners await further guidance from the New York State Gaming Commission on the specific requirements for obtaining a downstate casino permit, they continue to refine their plans and engage with the community. The collaboration with Saratoga Casino Holdings, the Chickasaw Nation, and Legends reflects a strategic alliance leveraging their combined expertise to create a transformative project.

Despite the consortium’s efforts, locals have been less than ecstatic regarding the casino resort. 2023 saw local community leaders overwhelmingly vote against the ambitious project, expressing concern regarding its long-term impact on struggling communities. Opponents claim the casino threatens to turn Coney Island into another Atlantic City, bringing all the gambling industry’s negatives to a struggling neighborhood.

While The Coney struggles to win the approval of locals, rival projects threaten to outcompete it in the fight for the limited casino slots. Industry giants like Wynn Resorts, Caesars Entertainment, and Resorts World have pitched alternative projects, hoping to be included in The New York Gaming Facility Location Board’s final decision expected next year.

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Tri-Cities Anticipates First Tribal Casino Proposal https://kenowizard.com/2024/04/12/tri-cities-anticipates-first-tribal-casino-proposal/ https://kenowizard.com/2024/04/12/tri-cities-anticipates-first-tribal-casino-proposal/#respond Fri, 12 Apr 2024 00:30:35 +0000 https://kenowizard.com/2024/04/12/tri-cities-anticipates-first-tribal-casino-proposal/ The Tri-Cities region is on the brink of a significant development as the Confederated Tribes of the Colville Reservation move forward with plans for the area’s inaugural tribal casino. With the project now entering a pivotal phase of federal approval, new insights into its scope and potential impacts are emerging. BIA to Host Virtual Meeting [...]

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The Tri-Cities region is on the brink of a significant development as the Confederated Tribes of the Colville Reservation move forward with plans for the area’s inaugural tribal casino. With the project now entering a pivotal phase of federal approval, new insights into its scope and potential impacts are emerging.

BIA to Host Virtual Meeting on Environmental Impact of the Project

Scheduled for April 24, the Bureau of Indian Affairs (BIA) is set to host a virtual public meeting to gather feedback on what should be encompassed in the Environmental Impact Statement (EIS) for the proposed casino, reported local media outlet the Tri-City Herald. The EIS, as mandated by federal law for certain projects, aims to assess the environmental repercussions of the endeavor.

The ambitious plan outlined by the Colville Tribe encompasses the construction of a sprawling 184,200-square-foot casino, a 200-room hotel, an event center, dining establishments, and ancillary facilities. Situated on 165 acres of Colville-owned land off Highway 395 and Kartchner Street, north of the King City Truck Stop, the project aims to invigorate the area’s economic landscape.

Central to the endeavor is the “Fee-to-Trust” process, which facilitates the development of enterprises like casinos, hotels, and restaurants on non-reservation sites under the Indian Gaming Regulatory Act of 1988. The BIA is overseeing the intricate process of placing the designated land into federal trust, paving the way for the casino’s realization.

Yakama Nation Opposes Colville Tribe’s Casino Plan in Tri-Cities

While the prospect of economic revitalization is promising, the project has not been without its detractors. Among them, the Confederated Tribes and Bands of the Yakama Nation have voiced objections, citing territorial disputes rooted in an 1855 treaty. The Yakama assert that the Colville’s plans encroach upon their ceded territory, particularly in the Tri-Cities area.

In response, the Colville Tribe contends that Pasco holds historical significance for several of its constituent tribes, such as the Palus, and asserts that any territorial concerns will be addressed through the rigorous federal review process.

The proposed casino site, flanking North Capitol Avenue near the Kartchner exit and north of the AutoZone warehouse, symbolizes the Colville Tribe’s aspirations for economic growth and community development.

Despite the absence of tribal operations in close proximity, private casinos dot the landscape of the Tri-Cities. Notable among them is the Wildhorse Casino and Resort near Pendleton, Ore., operated by the Confederated Tribes of the Umatilla Reservation, and Legends Casino & Hotel in Toppenish, operated by the Yakama.

As the Tri-Cities eagerly anticipates the potential economic and cultural implications of the proposed tribal casino, stakeholders and community members alike are encouraged to participate in the forthcoming public engagement opportunities to shape the trajectory of this transformative endeavor.

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Alabama Gov. Ivey Shows Support for Gambling Proposal https://kenowizard.com/2024/02/08/alabama-gov-ivey-shows-support-for-gambling-proposal/ https://kenowizard.com/2024/02/08/alabama-gov-ivey-shows-support-for-gambling-proposal/#respond Thu, 08 Feb 2024 08:06:04 +0000 https://kenowizard.com/2024/02/08/alabama-gov-ivey-shows-support-for-gambling-proposal/ The 2024 legislative session in Alabama will focus on a number of issues, including election voting, education and gaming. State Gov. Kay Ivey issued her 2024 State of the State Address, highlighting a number of important initiatives that will be among the priorities for lawmakers this year. In her State of the State Address, she [...]

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The 2024 legislative session in Alabama will focus on a number of issues, including election voting, education and gaming. State Gov. Kay Ivey issued her 2024 State of the State Address, highlighting a number of important initiatives that will be among the priorities for lawmakers this year. In her State of the State Address, she showed support for an initiative that “prohibits ballot harvesting” in Alabama.

Additionally. Gov. Ivey supported an education proposal and spoke about the importance of resolving the state’s issue with gambling. Speaking about a current proposal that paves the way for the expansion of gambling in Alabama, she expressed hope that lawmakers will review it further. What’s more, Gov. Ivey vowed to monitor the progress of the proposal.

Currently, a proposal sponsored by Rep. Chris Blackshear calls for the expansion of gambling in Alabama. In reality, to do this, two different bills are needed: one that would amend the state’s constitution and another to establish gambling activities.

This year when Alabamians make their way to the ballot box, I hope they will be voting on another issue: Gaming. I believe the current proposal being contemplated by the Legislature is good for Alabama, and I will be carefully watching it move through the process,

wrote Gov. Kay Ivey

The Bill Will Help in the Fight against Illegal Gambling

Per the current draft bill about the gambling expansion, the state would authorize the development of casino gambling at different locations, as well as the establishment of a lottery. The legalization of online sports betting is also part of the proposal.

The last time residents in Alabama voted on a gambling proposal was more than two decades ago. Since then, different proposals have not gained much traction. While the new bill will be reviewed by lawmakers, its future remains uncertain. This is because its success is contingent on a majority approval from the state’s Senate and House along with a green light from Alabama’s voters.

According to Gov. Ivey, the proposal will help in the fight against illegal gambling. At the same time, she said, the bill would help deliver regulated forms of gambling and this includes lottery as well. “Thank you to Speaker Ledbetter and his leadership team for their hard work on this. Now is the time for Alabama voters to have another say on this issue,” added Gov. Ivey.

The gambling proposal still has a long way ahead of it. Yet, the support from the Governor sends a clear signal to the lawmakers about the importance of the matter.

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Debate for Fairfax County Casino Proposal Intensifies https://kenowizard.com/2024/01/29/debate-for-fairfax-county-casino-proposal-intensifies/ https://kenowizard.com/2024/01/29/debate-for-fairfax-county-casino-proposal-intensifies/#respond Mon, 29 Jan 2024 15:18:51 +0000 https://kenowizard.com/2024/01/29/debate-for-fairfax-county-casino-proposal-intensifies/ A recent bill is making its way through the House in Virginia, calling for the development of a casino complex in Fairfax County. The proposal is sponsored by State Sen. Dave Marsden and asks for residents of the county to vote on a referendum, which if approved, will permit the development of a casino in [...]

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A recent bill is making its way through the House in Virginia, calling for the development of a casino complex in Fairfax County. The proposal is sponsored by State Sen. Dave Marsden and asks for residents of the county to vote on a referendum, which if approved, will permit the development of a casino in Tyson’s Corner. Besides a casino, the structure may also include a conference center as well as entertainment facilities which can be used for different events such as concerts.

Initially, the proposal called for the casino to be located in Reston. However, it faced strong opposition from the Reston Citizens Association. In fact, earlier this month, a group of opponents against the proposed casino plan for Reston gathered outside Fairfax County Government Center and placed signs. Moreover, they voiced their concerns that the proposed development is against the area’s planning principles, media reports revealed at the time.

Now, the debate regarding the proposal continues to intensify with opponents voicing further concerns. Jeff McKay, the chairman of the Fairfax County Board of Supervisors, who was interviewed by DC News Now, criticized the proposal. He outlined that prior to the introduction of the bill, there were limited discussions with stakeholders, including the Fairfax County board.

Moreover, McKay said that he was able to see the proposal only a day before it was introduced, leaving insufficient time for any changes. He explained: “None of those groups have come formally, sat down with me and said, ‘Hey, here’s what we’re proposing. This is what our bill looks like. Will Fairfax County engage in conversations with us?”

A Casino May Bring More Problems Than Benefits

When it comes to the proceeds from a potential casino in Tyson’s Corner, McKay was also skeptical. He revealed that where casinos are available, usually, a 25% tax revenue is applicable. According to McKay, this tax rate is “not a good deal for the people of Fairfax County.”

He estimated that the county would benefit from $50 million if the casino in the area makes $200 million. The chairman of the Fairfax County Board of Supervisors said that this revenue is not worth it, especially considering the potential problems a casino may bring to the area.

Opponents of the idea have also voiced their concerns, highlighting that a casino may result in an uptick in criminal activities. Others warned that a casino in Fairfax County may result in increased traffic and impact other businesses in the area.

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Proposal in the Netherlands Calls for Increase in Gambling Tax https://kenowizard.com/2023/10/25/proposal-in-the-netherlands-calls-for-increase-in-gambling-tax/ https://kenowizard.com/2023/10/25/proposal-in-the-netherlands-calls-for-increase-in-gambling-tax/#respond Wed, 25 Oct 2023 15:53:58 +0000 https://kenowizard.com/2023/10/25/proposal-in-the-netherlands-calls-for-increase-in-gambling-tax/ Taxation of retail and online gambling provides a vital stream of revenue for countries across the globe. Currently, there are strict rules regulating the gambling sector in the Netherlands and licensed operators in the country are subject to a 29.5% gambling tax. Now, a new proposal seeks to change the taxation of gambling for operators [...]

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Taxation of retail and online gambling provides a vital stream of revenue for countries across the globe. Currently, there are strict rules regulating the gambling sector in the Netherlands and licensed operators in the country are subject to a 29.5% gambling tax. Now, a new proposal seeks to change the taxation of gambling for operators in the country, calling for an increase.

The proposal was submitted Tuesday by MPs Silvio Erkens and Chris Stoffer and it comes at a time when the Dutch government proposed a drastic increase in the levy applicable for alcohol. The government recently hinted at plans for increasing the excise duty applicable for alcoholic beverages, such as wine, beer and others, by 16.3%.

However, Erkens and Stoffer identified the potential negative impact of such an increase, claiming that it may have a significant economic impact on regions near the country’s borders. The duo outlined that people living in such regions may try to avoid the higher excise duty on alcoholic beverages by buying them from countries nearby.

To cushion the potential negative impact, of an increase in the excise duty on alcohol, the MPs submitted a proposal that calls for the increase to be in half. This would otherwise mean that the excise duty on alcohol would be increased by only 8% and to compensate for the tax revenue, Stoffer and Erkens called for an increase in gambling tax.

Increasing the Gambling Tax by 1%

Introducing half of the excise duty on alcohol is estimated to cost approximately €74 million ($78.3 million) in tax revenue. Within their proposal, the two MPs sought to fill in the gap created by the decrease in the revenue from alcohol by implementing a 1% increase in the tax rate applicable to gambling operators. This would effectively increase the tax rate from 29.5% to 30.5%.

In their proposal, Erkens and Stoffer highlighted the recent increase in the popularity of online gambling activities. Ideally, the duo sought to only increase the gambling tax applicable to online gambling operators.

Ideally, the increase in the gambling tax would only have resulted in a heavier taxation of online gambling. However, the gambling tax is currently not differentiated with regard to different forms of gambling, which means that an increase cannot yet be focused on this group,

reads the proposed change submitted by MPs Silvio Erkens and Chris Stoffer

However, under the existing regulations, there’s no separation between online gambling activities and land-based activities. In other words, if the proposal of the two MPs is implemented, the increase would apply to all forms of gambling in the Netherlands. This would be the case unless further changes and provisions are implemented.

If the Dutch government implements the change and increases the tax by 1%, an estimated €26 million ($27.5 million) in tax revenue is expected to be generated. The duo’s proposal also calls for an increase in the excise duty on tobacco as well, in addition to the gambling tax.

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IBJR Speaks Out against Brazil’s New Sports Betting Tax Proposal https://kenowizard.com/2023/07/27/ibjr-speaks-out-against-brazils-new-sports-betting-tax-proposal/ https://kenowizard.com/2023/07/27/ibjr-speaks-out-against-brazils-new-sports-betting-tax-proposal/#respond Thu, 27 Jul 2023 17:36:11 +0000 https://kenowizard.com/2023/07/27/ibjr-speaks-out-against-brazils-new-sports-betting-tax-proposal/ Brazil’s provisional measure No-1182 lays the groundwork for a nationally regulated betting market. However, the planned tax increase of 18% for licensed operators caused significant concern. The IBJR argues that such harsh measures would place unsustainable burdens on law-abiding operators, driving consumers to unregulated and dangerous alternatives.  Unsustainable Taxes Can Hurt the Regulated Market The [...]

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Brazil’s provisional measure No-1182 lays the groundwork for a nationally regulated betting market. However, the planned tax increase of 18% for licensed operators caused significant concern. The IBJR argues that such harsh measures would place unsustainable burdens on law-abiding operators, driving consumers to unregulated and dangerous alternatives. 

Unsustainable Taxes Can Hurt the Regulated Market

The IBJR is Brazil’s premiere organization committed to promoting responsible gambling practices and advocating for a balanced and fair regulatory environment. The authority has been a staunch proponent of the country’s decision to legalize its sports betting market, giving players safe wagering options. However, the organization has repeatedly criticized the shortcomings of Brazil’s upcoming legislation, outlining lawmaker oversights.

Most recently, the proposed 18% tax hike elicited more harsh criticism. The Institute argues that such a significant increase could hinder Brazil’s nascent sports betting industry, hampering its growth and competitiveness with gray market operators. Such a tax burden could cause reduced investments in technology, marketing, and customer support, hurting the regulated sector.

This burden concerns all companies in the segment… as it will impact the entire economic chain derived from the sports betting sector.

Andre Gelfi, IBJR president

According to the Institute, a higher tax burden on licensed operators could increase betting odds and reduce payout rates for players. Such measures would prompt bettors to seek more attractive alternatives in the gray market, where they face almost non-existent protections from fraud or problem gambling.

Brazil Has Achieved Substantial Progress

The IBJR emphasizes that the government should prioritize responsible gambling initiatives and player protection measures instead of imposing burdensome tax rates. By fostering a safe and transparent gambling environment, Brazil can cultivate a thriving and sustainable sports betting industry while safeguarding its citizens from potential harm associated with excessive gambling.

Brasil’s new legislation delivers on that regard, giving regulators and authorities the necessary tools to tackle match-fixing and illegal gambling. The updated regulations also explicitly prohibit people under 18 and other vulnerable groups from wagering, protecting them from unsustainable financial losses. The IBJR’s in-depth familiarity with Brazil’s ongoing gambling challenges and the state of its sports betting sector makes its advice invaluable in creating effective regulations.

While President Lula da Silva’s provisional measure aims to establish a comprehensive regulatory framework for sports betting in Brazil, it is evident that the proposed tax increase requires further consideration and revision. Ensuring the development of a robust and responsible gambling industry requires policymakers to engage in dialogue with industry experts, operators, and responsible gaming advocates, seeking a middle ground that fosters growth and safeguards consumers.

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Proposal in France Calls for Online Gambling Expansion https://kenowizard.com/2023/05/25/proposal-in-france-calls-for-online-gambling-expansion/ https://kenowizard.com/2023/05/25/proposal-in-france-calls-for-online-gambling-expansion/#respond Thu, 25 May 2023 16:00:17 +0000 https://kenowizard.com/2023/05/25/proposal-in-france-calls-for-online-gambling-expansion/ Online gambling activities, unlike retail gambling, can be accessed via smartphones or even desktop computers easily. Many iGaming operators offer games that are mobile-first, which reaffirms the potential of the sector which is valued at billions of dollars on a monthly basis. Yet, while many countries around Europe offer iGaming options, the market in France [...]

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Online gambling activities, unlike retail gambling, can be accessed via smartphones or even desktop computers easily. Many iGaming operators offer games that are mobile-first, which reaffirms the potential of the sector which is valued at billions of dollars on a monthly basis. Yet, while many countries around Europe offer iGaming options, the market in France remains significantly restricted. However, a new proposal seeks to change that and introduce legal online gambling options but under strict conditions.

Philippe Latombe, representative of the Democratic party in the country introduced Bill 1248 earlier this week. His proposal calls for the authorization of online casino gambling. However, it sets strict rules for the market, allowing it to grow under specific conditions.

The ban in force against online casinos is therefore reaching its limits, even if the authorities try to identify and block illegal sites using court orders,

Explains Bill 1248

The iGaming Market Is Expected to Change in 2030

The bill consists of three articles. Article 3 proposes “online casino games to the same levies operated by the State and local authorities, and therefore completes the list of games that make up the gross gaming revenue,” while Article 2 calls for the introduction of a moratorium that lasts for five years and allows only established casino operators with a license to operate online. Finally, Article 1 of the bill seeks operators that offer online gambling activities to introduce games of chance that are similar to their retail counterparts.

In other words, the proposal calls for the liberalization of the online gambling market which will be initially run by the “national casino industry” under the five-year moratorium. Then, effective from January 1, 2030, the proposal calls to open the market for other companies that are interested in the online gambling market in the country.

The bill explains that this is mandatory as a “total and immediate” opening of the market may result in losses for the national casino industry. This, in turn, may also result in unemployment and devastating consequences for the casino sector.

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