Could Sweden's 20% gambling tax fuel interest in bitcoin gambling?

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Oct 18, 2016.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    The Swedish Government have an online gambling monopoly, which means if you want to place a sports bet or play a few hands of poker your only option is to play at one of the state-run bookmakers, casinos or poker rooms. The Swedes are currently in the process of breaking up this monopoly in favour of licensing multiple private operators. A group called Copenhagen Economics were given the task of outlining proposals on how the country might make this transition. The group is recommending a revenue tax rate of between 15% and 20% on international gambling operators who apply for a Swedish license.

    What Sweden haven't factored into this tax rate is the growth of crypto-currency casinos, poker sites and sportsbooks. While the Swedish government may be abel to stop credit card transactions to unlicensed gambling operators, it will be impossible to stop Swedes depositing and withdrawing from their favourite bitcoin casino or bookmaker. Licensed gambling sites in Sweden who are paying up to 20% in revenue tax and also have huge KYC/AML costs will simply not be able to compete with BTC gambling sites when it comes to competitive betting lines, low rake poker and low house edge casino games.
     
    Last edited: Feb 9, 2017
  2. Umair

    Umair Member

    did we try this in the UK also? i recall there used to be a 7% betting duty charged on all bets in the UK but gordon brown scrapped it. if licensed gambing sites in sweden have to pay a 20% fee they will never be able to compete with off-shore btc betting operators.
     
  3. Header

    Header Member

    Haha, this is so dumb. Gaming sites like Nitrogen Sports and FortuneJack must be thrilled every time they read a story like this. Stupid governments insist and doing free marketing for bitcoin gambling operators.
     
  4. 2damoon

    2damoon Member

    Russia is following Sweden and Australia's lead by banning many online gambling operators. This is very bullish for bitcoin gambling.
     
  5. Why would any serious gambler pay a 20% tax on their winnings when then can get better odds and lower rake at bitcoin gambling sites and keep 100% of their winnings.
     
  6. Humble Servant

    Humble Servant Active Member Staff Member

    Major bookmaker like Bwin and Ladbrokes do offer a broader range of betting markets and better in-play betting. In general, local bookies will always be able to cater better for less popular sports in countries.
     
  7. Humble Servant

    Humble Servant Active Member Staff Member

    Sweden should learn from what is happening in Australia. Many of the major poker rooms like 888poker, PartyPoker and Pokerstars are exiting the Australian poker market because of new regulations. However, as a results, poker rooms that operate offshore like Ignition Casino/Poker have announced that they are entering the Australian poker market. The same thing will happen in Sweden. Regulated bookmakers and poker rooms who have to pay the 20% tax will not be able to compete with
     

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