For the longest time now, the European Union has been struggling with the issue of online gambling. There have been endless attempts to get the states that are members of the union to comply with the set standards in internet business. The regulations were put in place to make sure that the integrity of all sports is safeguarded, and that match fixing is not done. When it comes to gambling, specific laws have been enforced to protect consumers of gambling products and minors and also to prevent the sport from being used as a money laundering route.
Gambling and the economy
Did you know that the gambling market in the EU is an industry that is worth about 84 billion Euros annually? It is also estimated that the industry is growing at a rate of about 3 percent annually. This means that it is a sector of the economy that can’t be ignored. Governments in member states are therefore looking for a way to legalize the games because then they will get taxes and licensing fees from the industry.
The newest country that has joined the trend of legalizing gambling is Poland. This was after the country’s legislature passed laws that allow the process to be conducted freely. The bill was recently signed into law by the polish president, Bronisław Komorowski.
The benefits that come from the legalization
Previously, it was illegal for foreigners and locals to set up gambling sites. There were stringent measures put in place to ensure that the citizen did not take part in the then illegal activities. However, with the legalization of the process, foreign investors now can create gambling systems and offer gambling services to the polish people. However, the people have to ensure that their services are being offered in accordance with the regulations that have been set by the government.
Some of the games that have been approved to be played online include card games, dice games, cash bingo, betting, gaming machines and lottery audio texts. To offer these games, however, it is necessary that the owner of the games be part of a joint stock company or limited liability company. The companies that are part of EU’s free trade association do not have to struggle because all they have to do is apply for licenses.
What legalizing gambling means for Poland
The first and the most obvious thing that will come out of this move is that the government will be able to collect some revenue from the games. This means that the economy will get a little boost from the multi-billion euro enterprise.
The other benefit is the fact that occurrences of online conmen will be reduced. Previously, if you joined the wrong site and got conned of all your deposit or winnings, there was no way you could claim and get the money back because you would have feared to face the law. However, if for instance you made winnings, and a dispute erupted, now you can take the concerned company to court and get legal redress for the issue.
The introduction of legal gambling channels will greatly reduce fraud. When companies are registered by the government, and they all receive operating licenses, it will be very easy for the government to trace all their activities and make sure that nothing illegal is going on in this accounts. This means that the billions of Euros that are lost annually through gambling related laundering will no longer be lost.
When the activity was illegal, all the money that was exchanging hands in the process was going to foreign entities. The country was, therefore, suffering from imported inflation and other issues that are related to this type of revenue loss. With the systems being legal and the money being collected by the state, inflation will be a little bit more manageable.
Are there any benefits that come from gambling?
Many people are those that view gambling as a destructive addiction that should be avoided at all costs. Well, for an activity that is carried out by about a billion of the entire world population, it will be a little bit more difficult to convince people to quit. Well, here are some of the benefits that Poland will be reaping from the legalization of the process:
Local economies will be stimulated: in order for gambling to take place, you need casinos. This means that the people who don’t enjoy the games from their personal computers may decide to be visiting the internet cafes or other spots where they can get online and play a game. As a result, the person selling drinks will get a tip; the manufacturer of the drink will get returns and several other related effects.
Gambling will provide entertainment: When the activity is carried out in a controlled environment, it can be quite entertaining. It is more challenging both physically and mentally than activities such as watching games or drinking.
It is possible to win: There are people that get lucky and win. When you receive winnings such as the jackpot, your life will be transformed in a huge way. The simple game could, therefore, turn from a pastime to a source of income that you could use as business capital and change your life forever.
These are some of the things that Poland is likely to gain from the simple act of legalizing online gambling. It is important to note that even though the process of creating the gambling bill, getting it the support it needed and pushing it on parliament till it became law was tedious, it will be worth it in the end. People will gamble comfortably and have fun knowing that they aren’t doing anything illegal.