As a result of the implementation of the Gambling Amendment Act 2015 last month, online casinos will have to pay a tax starting with the 1st of August. A previous bill regarding online gambling was initially proposed in 2011 but several backlashes delayed the licensing process. The licensing of online gambling operators can bring revenues of approximately €25 million per year to the Irish government.
As of April 16th this year, online gaming providers could apply for licenses, meaning that online casinos will have to pay a 1% tax on turnover on most bets and a 15% tax on sports related gambling.
There is a tax of €10,000 that has to be paid every two years in order for online casinos to keep their license. Illegal online providers will be fined up to €300,000.
The most important online casinos have taken a stand to assure that the licensing act will be implemented in a fair manner, the main concern being for Irish online providers to not be treated in a discriminatory manner in comparison with foreign gaming operators.
Apparently, the licensing of online casinos will have no effect on players since the Gambling Amendment doesn’t allow licensing costs to be passed on to the customers.