EU Yes For Croatian iGaming Laws

EU Yes For Croatian iGaming Laws

Friday, 14 November 2014

Croatia's new online poker law was approved by the EU earlier this week, which means the country will now launch a fully regulated igaming market at some point in 2015.

When the new laws come into effect, all operators will be required to hold a valid gaming licence and to obtain said licence they will need to pay a $490,000 licensing fee. On top of this, those who secure a licence will also be required to pay $490,000 on an annual basis in order to keep their licence active.

The rationale for charging operators an annual fee is to ensure each licensed company is financially stable, but that isn't where the spending ends.

On top of the six-figure fee, prospective online poker sites will also need to demonstrate various financial standards and pay a five percent monthly tax on gross revenues.

Although the news was somewhat bleak for online operators, the news for players wasn't as bad.

Despite being subject to a new tiered tax system where players will have to pay 10% on winnings from $122 to $1,600, 15% up to $4,800, 20% up to $81,000 and 30% for any winnings above that, they won't be ring-fenced.

As part of the new regulated economy, Croatian residents will be able to play against international players on dot-com platforms, unlike players in France and Spain.

Before Croatia's online poker laws come into effect, the bill will have to pass through the Croatian Parliament. Once this process has been completed the new laws will come into effect six months later.

Tags: Croatia, regulation