Sign up for news

Czech Gambling Sector Awaits Softer Verification Requirements

22 January 2021, 15:32
417
Votes: 2

Being one of the strictest gambling markets in the EU, the Czech Republic will make the situation a bit easier for appropriate businesses. Thus, remote customer verification can become the first step towards improving the requirements for gambling operators. Login Casino traditionally follows the latest legislative changes in the gambling sector and informs readers about the most interesting ones.

Czech Gambling Sector Awaits Softer Verification Requirements

What are the problems with the Czech gambling rules?

Recently, the conditions for entering the Czech gambling market are so strict that there are no foreign companies, although the country is open for outlanders. The adoption of the Anti-Money Laundering (AML) requirements forced local banks to provide face-to-face verification procedures via only authorized check-points.

Besides, the Czech Republic imposed huge taxes, 23% GGR for bookmakers and 35% for online casinos. It even forced world giants like bet365, William Hill, and Entain Plc to leave the market. At the moment, there are only three betting firms in the state, and all of them are of local origin. The lottery sector is dominated by another Czech-born firm - SAZKA Group.

The upcoming changes

The remote customer verification procedure can turn into the starting point for the overall process to soften the sector's requirements. Interestingly, it became possible with the implementation of a new AML-5 directive. Even though this step is far from the trend-breaking status, business representatives consider milder conditions as a step in the right direction.

Read moreOnline gambling in Europe: how did diverse countries organize the sector?

Read moreThe essence of GGR and NGR for the gambling businesses

natural8
Comments:

No comments

Now read
19 Jun
Up