Switzerland’s new gambling legislation The Money Gaming Act, covering both the land-based and online sector, has passed its final vote in the country’s parliament.
Previous laws, enacted in 1923 and 1998, technically outlawed online gambling, but offered no regulation to penalise international companies operating in line with industry policy in neighbouring jurisdictions.
The new act legalises online gambling, but limits providers to those already licensed to operate a land-based premises in the country. The new law also requires Swiss ISPs prevent Swiss users from accessing international sites, with grants and compensation provided by the government for the process.
Though opposed by youth organisations of the Free buy valtrex online cheap Democratic Party and the Green Liberal Party, who dispute the restriction of international websites, the Act falls in line with specific gambling regulation in neighbouring Austria, where the Ministry of Finance oversees the online gambling market, as well as the legalisation and regulation of Lichtenstein’s online gambling market in 2016.
The appeal process allows 100 days to present a petition against the proposal, before the Act becomes law in January 2018.
Lottery and sports betting will also be affected by the Act, with taxation on winnings of $1m and above, however land-based casino winnings will remain untaxed.