Customised sports and horse bets launched (Italy)

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Italian players can now bet through Italian licensed platforms and betting shops on the same types of bets and events offered on foreign licensed platforms.

As anticipated, regulations allowing the offering of bets that were not included in the official schedule published by the Italian gambling regulator, AAMS, had been approved during the summer, but because of some bureaucratic delays, the offering of such bets had been delayed up until now when the first licensees started offering them through their Italian licensed platforms.

This is a major change in the regulations that have been restricted from their launch and comes before the launch of betting exchange games and of bets on virtual events that is expected to occur shortly.

Such measure might have an impact also on the Italian black market fostering players to gamble on licensed platforms rather than risking criminal penalties through their gambling activity on foreign licensed webistes. However, in order to make such change effective it will be crucial a change in the tax regime applicable to sportsbetting that is still based on the turnover as opposed to betting exchange and bets on virtual events that will be taxed on the gross revenues. Also, it will be interesting to see whether the licensing regime on game suppliers will be implemented.

We will see the future developments of the scenario.

Topics:  Gambling, Horse Racing, Sports, Sports Betting

Published In: Art, Entertainment & Sports Updates, General Business Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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