Slovakia approves online gambling laws
Slovakia’s online gambling market is set for major development
This week, Slovakia’s parliament approved new gambling regulations that the Ministry of Finance had announced earlier this year. If Slovakia’s president passes the law, international operators will be able to apply for local gambling licenses.
The new regime will begin accepting applications for online casino licenses as of March 1st, 2019, with licence approvals to be issued starting July 1, 2019. Online sports betting licence applications will be accepted starting July 1, 2019, but the licenses won’t take effect until July 1, 2020.
Online sports betting and casino licenses will cost operators €3m, although operators interested in offering both products can save €1m by applying for both.
Licenses will be valid for 10-year stints, but operators who want to offer both online and land-based betting will be given 5-year licenses with the option to extend for an additional 5-year term at the operator’s discretion.
International operators who wish to operate online will have to establish a relationship with a local representative who will serve as the operators’ government liaison.
The government won’t accept license applications from any operator if their domains – or those of any of their affiliated companies – have appeared on the country’s online gambling blacklist in the 12 months preceding their application filing.
Operators will pay 22% tax on their online gambling revenue. The state-owned TIPOS will retain its online monopoly over lotteries, bingo and raffles, but will now compete equally with private operators for the rest of the online market.
The government will establish a new Office for Regulation of Gambling, which will assume the oversight role currently carried out by the Ministry of Finance. The new office is expected to have an annual budget of €6m that will be funded by an additional 0.7% tax on gross gaming revenue.
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