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Next Year Ireland Will Present New Online Gambling Laws

Ireland’s Minister for Justice Alan Shatter has said one reason for the move to regulate online casinos is to tax the revenue of Internet casino operators. Another reason, he has mentioned, is to limit the casinos in both size and number. The Irish love to gamble on ponies and other sports, but the laws on the books are outdated—some were written in the 1930s!

“The shortcomings in the current law, for example, the absence of any regulation of on-line gambling, are exposing young people and other vulnerable persons to unacceptable risks,” said the Justice Minister.

Revising outdated laws and regulating online casinos are part Ireland’s motivation to publish new gambling laws next year

“The exchequer is also being short-changed because of the absence of a taxation regime for on-line and other forms of remote gambling.”

The new law is expected to be put forth next spring and will allow licensing of online operators.

This will force the operators to stay within the tax rules. While some might think current operators would be against the new code, Paddy Power, one Irish bookmaker is not. Today, Paddy Power pays its taxes where its servers are installed, on its Isle of Man. The new tax scheme would likely cost the company more, but a spokesperson for the company claimed it would comply happily with the new taxes—if they were just and to all the interested parties.

“It’s the policing of the legislation that is the most important thing. Irish and international players need to be taxed equally,” said the spokesperson.

The law will give the minister for justice 100 percent of the power to supervise, inspect and enforce the regulations concerning gaming facilities. Right now, the powers are divided by two ministers—justice and finance. In addition, the proposed laws state that large resort-style casino operations will not be

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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