Competitive market renders Italian Online Poker defenseless
There has been a halt in the progressive regulation in Italy after the market was deemed to be very violent. Despite the fact that online casinos have been on the rise, a serious problem has hit Italian online poker. This month of September, the net revenue of online poker was down by 20% to record at €6.5 million ($7.3 million) from €8.2 million ($9.3 million) recorded in September last year.
The same case applied to the general bettors who went down with the upward drift in some online betting actions not enough to prevent it. The total amount that bettors incorporated in the betting system fell drastically to record at €242.2 million ($273 million) as compared €330 million ($372 million) to record at the same time last year.
Since 2011 when online betting was legalized in Italy, various struggles have been facing the industry. This time, the poker issue has hit the headlines which since 2011 has formed a reliable online stream and has been fundamental in the Italian economy maintenance.
Reports have indicated that 19% drop in the buy-ins to record at €58.7 million as compared to last year’s €72.5 million has impacted heavily to the net revenues that have fell from €6.4 million to €5.3 million.
Italy boosts the services of major online casinos such as Mr. Green, William Hill and 888 Casino. The attempt to have a 20% tax on total profit accrued by these operators rather than the total betting income has stopped. There have been several proposals in liquidating a new levy on digital services has been a threat to revenue income.
At the same time, most politicians are being tempted to vote against betting advertisement that are seen to have crossed the border in terms of amount and redundancy unto which they are been made across digital platforms in the nation. The lawmakers are pushing for a bill that would eradicate if not minimizes gambling advertising in Italy.
This forms a basic reminder to all betting sites across the nation to try and control these adverts which may at times depending on the time they are broadcasted may be dangerous to the vulnerable under age group.