SOFTSWISS to Take Part in SiGMA Europe

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Whenever someone discusses a topic of gambling we usually immediately think of the US and Las Vegas. However, the majority of gambling activity actually happens online nowadays and it’s a very popular hobby in Canada, Australia, and all over the world in fact. Czechia is another country where this hobby is really popular, and there are some interesting facts about online gambling here.

The Czech Republic also has a strong community that enjoys online gaming. They have a big eSports audience, lots of people who love to bet, and among other things gamble online. So, let’s go over some of the interesting facts related to online casinos and the Czech Republic.

History of Gambling in the Czech Republic

The Czech Republic became indecent back in 1993, and yet its gambling laws were in place even before that happened. In 1990 the only approved activities that were regulated by the government were lotteries. This changed in 2012 when the country decided to modernize its outdated laws.

Their new Gambling Act at that time actually allowed for online casinos to operate and accept their citizens as players. The condition here was that the operators had to have a land-based institution on the territory of the Czech Republic. In 2017, online sites that are based in the Czech Republic were made legal, and they didn’t have to have a land-based establishment. However, you will see that this act isn’t actually too lenient on the operators, especially when it comes to their expenses.

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Legal Status of Online Gambling

As mentioned it’s legal to maintain an online casino here and to gamble online. That’s not all though, as users are allowed to gamble in institutions that belong to foreign operators. Even sites that operate illegally are not banned here, but players access them at their own risk. Luckily, they can find safe online casinos Czechia sites or available in Czechia by visiting other platforms that review those operators. This way they can ensure to benefit from different bonuses and promo codes, as well as gain access to more diverse gaming libraries.

Bonuses and Promotions

You might wonder why players from Czechia would even create an account with a foreign operator since it’s in their interest to support the local economy. Well, one of the main appeals of online gambling lies in bonuses and promotions, and that’s where things get tricky. The law here states that any operator licensed in Europe cannot offer bonuses or user incentives to attract new players. So, while some countries ban illegal offshore operators, and nobody considers it a big deal, for players in the Czech Republic it would actually be a big deal. They would lose access to some of the best promotions and cashback offers out there.

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Revenue

One of the reasons why this country wants online casino operators to come here is because of the revenue. Casino gaming revenue from 2010 to 2017 increased by more than 100 million euros, and it made massive leaps ever since. In the year 2017, the revenue from online gambling was around 370 million dollars, and it continued to grow by around 16% on an annual basis. In the year 2019, the revenue from both land-based and online gambling was 1.36 billion euros. This is a huge deal which brings us to our next fun fact.

Taxing of Online Gambling Operators

Operators here pay massive tax on their income, 35% to be precise. In other words, more than a third of generated profits go to the government, which makes this industry in a way integral for their economy. Unfortunately, a lot of operators simply couldn’t put up with this tax and had to leave. Luckily, all of the reputable and well-established online gambling parlors are still around, and players can enjoy their content.

Number of Gamblers

In the Czech Republic you have to be over 18 in order to be allowed to gamble but the report from 2019 revealed that there are underaged gamblers in the Czech Republic. Now, this is pretty much the case in any country where gambling is legal, and it’s why this is a controversial topic. Still, almost 44% of people who are older than 15 gambled in the year 2019. This number is likely much higher for the years 2020 and 2021, as the pandemic led to a huge traffic increase on these sites.

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Conclusion

These were some of the interesting facts about online casinos and gambling in general in the country of Czechia. Hopefully, you learned something new, and useful. If you ever wondered why the welcome offers and bonuses are lacking in some of the online casinos, it’s probably because they need to comply with the gambling act. Always remember to gamble responsibly, and to only maintain accounts with safe operators. Avoid reckless spending, and play primarily to have fun.

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