Published on October 21st, 2017 | by admin0
Republic of Georgia reconsidering Online Gambling Ban Plans:
Not a while ago, The Republic of Georgia threatened the masses and webmasters of the gambling circuits alike when they came up with the notions of implementing a complete ban of Online Gambling. But now they have softened their approach a bit and appear to be reconsidering the ban plans. In the month of September, the local media reported that the country’s elite parliamentarians were pushing the Government of Georgia to take the harsh step against the online casinos in play. This news disheartened many fans of the online version of wagering. The demands were to make online gambling illegal explicitly. But there were some at the Ministry of Finance who soberly brought up the point that this demand is not only unfair but practically impossible to implement as well.
The recent reports suggest that the government is planning for the online gambling permits to continue, much to the joy of people who love betting on the online platforms. The condition that the government implied was that the gamblers will have to register and pay the country’s service tax policy in order to continue their online gambling pursuits. The purpose of this registry is crystal clear. The government doesn’t want minors to participate in it and want the participants to be at least 21 years old, if not more.
Like the majority of nations where gambling is a legal affair, the government of Georgia too is somewhat divided and confused between the fact that online gambling should be restricted and it is earning a better part of the revenue for the government. A spokesperson recently complained about how the government is heavily missing out on the taxes of approximately GEL 200m on the money that flows for the country to the online gambling websites operating from the outside.
Earlier this year from January 1, 2017 the government doubled the taxes on the online casinos and sports betting vendors from 5% to 10%. The fee on gaming tables and slot machines also saw a significant rise. The result of this hike was also significant as the government enjoyed a tax return of $58.5m which was larger than the one third of the total gambling taxes of the year 2016. This is a good revenue collection considering there are approximately 138 gambling companies in the Republic of Georgia that are authorised to operate.
And according to the government sources, there are around 500 thousand people from Georgia who enjoy the online casinos. These are extraordinary statistics considering the population of the country is mere 4 million. The operators that are locally licensed include Adjarabet, Iveriabet and last but not least, the Georgian State Lottery.
In general, the view of the Georgian society on the aspect of Online Gambling is slightly dimmer considering its popularity in the country. The Ministry of Defence in the year 2015 even announced that the servicemen and women will face immediate termination from their services if found excessively involved in gambling. The final decision by the government is yet to come, so let us wait and watch what future holds for gambling freaks in The Republic of Georgia.