Switzerland is getting ready to legalize the online casinos industry. According to news reports, four physical casinos asked for a regulated gambling license so they can start operating in the online casino Industry. This might be the smartest move for the wealthy European country as most of the countries within the European Union already started asking taxes for casinos who deliver money games by the internet.
The local Switzerland news outlets claim that Grand Casino Bade, Casino Zurichsee, Grand Casino Davos and also Grand Casino Lucerne sent requests to the ESPK asking to join the online casino regulated markets. The ESPK is the local national regulator for gambling.
If they are approved, this famous land casinos will be the first four brands to deliver casino games online fully legal. But they will certainly not be the only ones. It is reported that many other famous brands that operate with Malta and Curacao licenses will join.
A few months ago was first report that Switzerland regulated market will start next July of 2019. The approved online casinos will need to be approved one by Switzerland’s regulator – ESPK – which promises to review any requests until the last day of June so they can start delivering casino services on the following month.
The regulators also claim they will review not only the casinos themselves, but also the games offered by them. They want the games ( specially the slot machines ) to be fair to the gamblers. The reason for this measure is because many people complained to associations like Gamble Aware about the addiction they suffered after playing.
The Switzerland Government wants now the games to be more fair and safe. But in other hand also want’s to get profits out of the games, as the physical lotteries and gambling houses are losing more clients to the internet in a daily basis.
It is also rumored that wagers will have more restrictions in the regulated markets, similarly to what happened with the Forex Markets in the entire European Union. Remember that since 2018, the operators considered Forex as a sort of gambling, and didn’t allow the big wagers that licensed operators were giving to their depositors. The E.U set the maximum leverage to 30 times the deposit amount, when it was up to 999 times before.
As it happened with leverage in Forex, at the regulated online casino this wagers should not be too high, because the higher the wager, the harder to the gambler to recover from their eventual losses. After all the regulators wan’t the players to be fully aware of what they are doing with their money, and be safe about any winnings or eventual losses.
To be honest it seems like the best solution for both the government and the gamblers. The players don’t loose to much, and in the other side, the local authorities regulate the games and take taxes to the country.
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Finally there is another great point made by this regulators. Switzerland wants the new online casino brands to have a good reputation.
As you might know, Europe didn’t have regulated markets until a few years back, however there were many gambling brands all over the internet accepting depositors from those countries. To be approved in Switzerland this casinos must prove the didn’t break any rules not promoting their websites in any country without a regulated gambling law.
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