Slovakia introduced an amended gambling regulatory regime last year that allowed interested online sports betting operators to apply for a license in order to be
The Financial Administration also set a plan on how it would monitor the industry for violations and how violations would be sanctioned. Under the new regulatory scheme, unlicensed operators that continue providing their services to Slovak customers may face fines of up to €500,000 and numerous other sanctions.
The creation of a list
If they fail to shut down their Slovak operations within a preliminary set timespan, they will remain blacklisted and the Financial Administration will turn to a court to ask for an injunction to block them. Gambling-related payment transactions will also be blocked.
The ISP blocking is a measure implemented by many other regulated jurisdictions. However, it has not proved to be very effective. While reputable operators generally avoid regulated jurisdictions, in which they are not licensed to operate, black-market operators tend to look and find ways to target players from prohibited jurisdictions.
Similarly to several other EU jurisdictions that have regulated their markets in recent years, Slovakia approached one important matter in a manner that affected the market’s allure to international companies. It introduced a 27% tax on gambling revenue, with the rate being a bit too high, especially when compared to that in
Source: GMB / Casino News Daily