The final vote for the new Money Gaming Act in Switzerland has been passed in the country’s parliament. The European nation will officially legalize the online gambling. The latest legislation was implemented to update the industry and restore the outdated Gambling Act from 1998. According to the most recent report, the 1923 Lotteries and Betting Act has been condemned by the traditional youth associations which are now preparing for a referendum to resist the bill.
Under prior terms, online gambling in Switzerland was not illegal. This change has given international operators to target traditional players. The Swiss government projected an internet gambling obstruction for foreign operators to resolve the problem. The blockage was later disapproved by the Swiss Society for Information, Communications and Organization Technology because it can destroy the nation’s digital economy. The restriction was then executed in a modern gaming legislation projected in March 2017, which was placed to permit online gambling in the country.
For every new Act, operating online gaming services will be available for traditional accredited operators that have a prominent land-based presence in the Swiss casino region. The legislation also needs Swiss ISPs (Internet Service Providers) to obstruct locals from gaining entrance to the international operators to guarantee a proper compliance. The bill has also changed the taxation, which now states that winnings from sports betting and lottery will be taxed if the money exceeds CHF 1 million.
The youth wings of the Green Liberal Party, the Free Democratic Party, and the Swiss People’s Party has opposed the new Act disagreeing that the internet blockade is against the internet freedoms. This disagreement will help to organize a referendum to take over the legislation.
The new gaming laws will get started by January 2018. It may be delayed because 50,000 approvals are needed from the Swiss citizens who fight against the Act. According to the Swiss law that is all they require to commence a referendum. The parties will legitimately start collecting signatures on the 10th of October 2017, per the law; they will have enough time of 100days to receive all of them.