The Swiss Parliament cleared the last of a series of hurdles that obstructed it from approving an omnibus gambling bill aimed to replace the country’s existing gambling laws. As reported by local news outlet Swiss Info, lawmakers agreed to scrap a previous tax on winnings from sports bets and lotteries so as to make it possible for the legislative piece to be enforced.
The Money Gaming Act now needs a final vote in the Parliament before being adopted as a law. It is still unclear when exactly that final vote will take place.
Under Switzerland’s current gambling laws, winnings from sports bets and lotteries are taxed, unlike winnings from local land-based casinos. Swiss lawmakers agreed to a provision in the omnibus bill that would only tax sports bets and lotteries winnings of CHF1 million or over. The provision was included in the Money Gaming Act so that all legal forms of gambling in the country receive the same treatment in terms of taxation.
That final hurdle makes it possible for legislative piece to be brought up for a final vote. If approved, the bill would replace the obsolete Lotteries and Betting Act of 1923 and the Gambling Act of 1998.
The Money Gaming Act and Online Gambling
Among other important legislative topics, the Money Gaming Act also dwells on the provision of iGaming services within the country’s borders. Under it, online gambling will be legal in Switzerland, but only local land-based casino operators will be allowed to provide this type of services to customers.
In other words, foreign operators will not be able to apply for licenses from the nation’s regulators. In addition, any attempt made by them to target Swiss players will be blocked. Once the new law comes into force, unlicensed foreign operators will be blacklisted and then blocked by Swiss Internet service providers.
As for foreign suppliers, they will be able to provide local casinos with their products without having to obtain a license. However, Swiss gambling concessionaires opting for such products will have to prove that their international providers have maintained good reputation. It is still yet to be determined what requirements suppliers will have to meet in order to be allowed to enter the local market.
Other Important Provisions in the Money Gaming Act
The Money Gaming Act, if adopted, would allow poker enthusiasts to organize small tournaments outside casino floors. In addition, the act is aimed to present more comprehensive and what are believed to be more effective player protection policies.
The Money Gaming Act now requires one final vote before being adopted. However, there is no information when exactly the Parliament will vote on the legislative piece. If it receives one final approval, it will then be published in the Swiss Federal Gazette.
