Italy's online gambling market flourishes
A month after the introduction of legal online casino games in Italy, the industry is positive about its future.
In July 2011, Italy's government passed an emergency budget in an attempt to rescue the ailing economy. A provision of this budget allowed licensed operators to legally offer online casino games for the first time. Although Italy legalized online gambling on a limited basis in 2007, it focused only on online poker tournaments.
Since July, Italian players have embraced online casino gambling. Gaming volumes have rocketed, recorded at between three and ten times higher per week than during the previous period. Revised turnover estimates for 2011 exceed €10 billion, with expectations double that for 2012.
Television and online advertising campaigns launched after the legalization have boosted these high turnover volumes. The online casino operators who worked to receive the initially granted licenses are keen to secure their market share before newer applicants enter the field.
The Italian gaming authority, the AAMS, agreed to a 20% tax on gross profits for online casino games. However, if this taxation policy does not bring in the estimated tax revenues, the AAMS may consider switching to the turnover tax system favoured by the majority of regulatory authorities in Europe. Also, the maximum initial stake during each gaming session is limited to €1000, and the average rate of return is 90%.
Leading online gaming software developer Playtech is a major player in the Italian market. It was the first provider to complete the 'Collaudo' testing process, in compliance with the AAMS. Several of its licensees, including Sisal, SNAI, Buongiorno and WHO, are backed by Playtech's casino management tools and present the complete range of Playtech games in the Italian market. Since 2008, Playtech has offered online poker tournaments in Italy, and will offer poker cash games from November 2011.
The future looks bright for the Italian online gambling market, with the launch of online slots games expected in the 1st quarter of 2011. Several foreign operators will also potentially enter the market next year.
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