The Czechoslovakia Republic Government announced that they are introducing a bill allowing for all of the land based casinos within the country to provide legalized online betting, this information came to light after the Deputy Finance Minster in the Czech Republic announced it in an interview.
Ondrej Zavodsky made this announcement during the interview, the deputy finance minster states that the current government in the country in looking a way to better the amount of tax revenues that they bring in each year. One of the ways their planning to do this is by legalizing online gambling in the country. As of right now the country brings in an estimated 8.1 Billion Koruna in gambling revenues which is roughly $401 Million USD.
Online Gambling would allow for more revenue and impact the country in a positive way as the bill will increase the amount of profit that Czech Republic earns from gambling operators by 20%. This will in return allow for the country to grow.
During the interview the finance minister said, “We need to provide a gambling environment that targets the hardcore gambling audience but at the same time target the regular gambling audience. We will do this by offering multiple online table and slot games that can appeal to a wide variety of different players. We hope that by doing this the country will be able to earn a larger amount of tax revenues which can be used to better this country tenfold.”
The bill will be put into effect by 2016.