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Irish Government decision on gaming imminent
We’ve already seen announcements from France, Spain and Norway this month regarding new legislation on online and land-based gaming and it looks like Ireland will soon join this club. They have been carrying out a review for some time which could lead to the creation of a significant number of jobs, and it is believed a decision will soon be made regarding an outdated law.
The law dates back to 1956 and is the Gaming and Lotteries Act. In its present state this prevents Ireland from introducing a new regime which would help the country from becoming an important e-commerce hub for the global online-casino industry. DKM Consultants have carried out a study which indicates that a change in legislation could create between 5000 and 8000 jobs, with an average pay of €40,000 per year. These would include web developers, accountants, e-commerce professionals, business analysts and mathematicians.
The law has been under debate for some time, and it is feared that if the delays in amending it continue then other countries may capitalise instead. A lot is at stake, as if Ireland managed to take just a 5% share of the global online casino business it would be worth €2.2 billion.
A spokesman for the Department of Justice said that Dermot Ahern, the Minister for Justice, initiated a major review of gambling on 1st May. He said; “The review will provide Government with options for a new and comprehensive legal and organisational framework governing the gambling architecture in the State, including remote gambling and
online bingo. Three important considerations, which are the hallmark of most well-regulated gambling codes, inform the review.” These are the protection of the young and vulnerable, that gambling should be kept crime-free, and that all aspects of gambling should be fairly and openly conducted.
“Following the settling of policy in relation to a new gambling architecture for the State, legislative proposals will be published in the normal course,” the spokesman said. He confirmed that the consultation phase of the review had been completed, and that since 1st May material on the department’s website had been viewed more than 5000 times, with over 50 face-to-face meetings and 71 submissions.
This is good news for certain businesses, including betting firms and online casinos and new bingo sites, although news that the Government is also considering levying a tax on online betting is a cause for concern for local betting firms such as Boyle Sports and Paddy Power. Paddy Power of Paddy Power Bookmakers said that a speech Taoiseach Brian Cowen TD gave to the horse-racing industry recently suggested the industry would receive financial support into the future through taxes on online betting.
Paddy Power currently employ 700 people in Tallaght, and are hoping to create an additional 350 jobs over the next 3 years. A spokesman said; “Our concern is that of the Top 10 bookies in Ireland, ourselves and Boyle Sports are the only two actually based here. We have no problem paying an online betting tax as long as it is enforceable and others pay it, too. As employers in Ireland this is a concern. We will have to look at the future of the company. There is an opportunity here. We are probably the most successful and largest indigenous e-commerce company in Ireland. We are a smart-economy company and as we grow internationally we will create more employment in Ireland. But we are obviously concerned that our successful business model is under threat with this new tax.”
Their concern is that less than 10% of bets they take are do to with horse racing, so therefore feel that these bets should not be affected by online tax. They added that over the last 10 years approximately €540m have been given to the horse-racing industry from betting taxes.
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