Online Gambling Significantly Impacts Germany, Hungary and Italy

The German state of Saxony may soon join fellow state Schleswig Holstein in terms of setting up its own EC (European Commission) approved internet gambling system.  It is thought that the reason why Saxony may be following in the footsteps of Schleswig Holstein is the state has a more progressive and open-minded approach and view of online gaming.   Saxony believes that time is running out for the rest of Germany to maintain its current online gambling structure and achieve legalization for a new online gambling administration from the EC.   It is thought that if Saxony makes this move, it may encourage some of the other German states to do the same.

In addition to Germany, Hungary has been experiencing some online gambling changes of its own.  The online gambling regulations that have been proposed in Hungary will subject internet gambling operator permits to tax authority approval, which will come into effect starting January 1, 2012.   Operators will be charged a 20% tax rate on net profit.  Strict regulations apply to applicants and permits that are issued will be valid for five years and can be renewed for another five year period upon expiry.

Finally, the Italian internet gambling market has positively benefited from the legalization and regulation of gambling on the web, and the value of Italian online casino domains have dramatically increased.   Based on the estimations of the consultancy firm, Trust Partners, the approximate online casino profits for 2011 will likely reach €200 million and is believed to climb even higher in 2012 , anywhere from €800 million - €1 billion.