Slovak approach to gambling brings gambling business out of the shadows

Slovak approach to gambling brings gambling business out of the shadows

An interesting approach to the development of gambling in the Slovak Republic was taken by the authorities in March 2005, approving the law on gambling. Its provisions have prompted to come out of the shadows of the incredibly developed network of betting shops, gambling halls and casinos, which since the 90's have been opened uncontrollably in all major cities of the country.

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The National Council of the Slovak Republic, by adopting a law on gambling, provided gambling operators a very comfortable environment for development and operation. The provisions of the law very clearly outlined the rights of players and responsibilities of operators, as well as the regulation of all forms of gambling and control of gambling equipment. Responsibility for the implementation of the law is assigned to the Ministry of Finance, the Gambling Committee, the tax and customs authorities.

Conditions for gambling business in Slovakia

The main requirement to organize gambling in this country is an individual, ordinary or general license. Any citizen or legal entity of European Union may obtain it. To do this you need to submit a set of documents to the Gambling Committee or the Ministry of Finance and ensure that the firm has a minimum registered capital. In the future, it is enough to make deductions at a rate of 19% of profits and $ 2,000 per month from each machine.

Such simple requirements satisfied all operators previously working in the country, as it is possible to legally operate a gambling business in the Slovak Republic with a good profit. As a result, state budget revenues increased, tourist attractiveness improved and crime decreased. Under these conditions, large investors, including those from Russia, where at that time just started severe restrictions, came to gambling business in Slovakia.

A universal Slovak approach to gambling

Since the early 90's, the development of gambling business embraced almost all the countries of the Warsaw Pact and the former Soviet Union. Imperfect legislation of the young states provided an opportunity to organize casinos, poker clubs, arcades and betting points in all cities. Most of them operated in the shadows under the guise of organized crime, and such establishments are fought even today.

The authorities of the Slovak Republic in the course of long negotiations managed to find a compromise with the owners of gambling establishments on the main positions. The owners preserved their infrastructure, made attractive signage, as well as provide players with a comfortable environment and guarantee fair play. According to the first official reports of operators of legal establishments, the profit increased many times, and the budget of the country received millions of dollars. Therefore, the legalization of all forms of gambling business in the country began quickly and successfully.

The Czech Republic, Croatia, Poland, Bulgaria, Romania, Macedonia and Montenegro closely followed the process and took almost all practices of Slovakia as a basis for their own reforms. The investment attractiveness of opening gambling businesses in these countries is now considered to be the highest in the EU.

Now the Government of Ukraine is seriously considering the experience of the Slovak Republic on the legalization of gambling, as officials have repeatedly reported. The fight against illegal gambling sites and institutions is quite expensive for the state. Legalization will significantly reduce these costs and help to quickly fill the country's budget.