A new law is being considered in Switzerland that would provide local casinos with the legal right to offer online versions of blackjack, roulette, and poker games. The law, dubbed “The Money Gaming Act,” will be presented to voters on June 10. A simple majority of positive votes is all that is needed for the Act to become law.
In addition to legalizing online gambling in Switzerland, the proposed law would also provide protections for online gamblers in the city.
Voters in Switzerland were polled in March of 2012 to gauge support for the Act and it was determined at that time that an overwhelming 87% of voters found the positive merits of legalized online gambling to be much more substantial than any potential negatives.
The parameters of the new act will not allow for foreign online casinos to offer games of chance to Swiss customers.
If the Money Gaming Act does indeed become law online casino operators would then be required to contribute to tax coffers that will be used to increase pension funds for elderly Swiss citizens. The expected contribution by online casinos expected to be more than $300 million to old age pension funds.
Additional money will also be collected from Lotteries in Switzerland and will be directly applied to community welfare initiatives. Much of the funds from Swiss lotteries will specifically be used to benefit sports and arts programs that contribute to the culture of the country.
The government of Switzerland has decided not to extend the measure to include foreign entities due to the high tax rates scheduled to be imposed. The thought is the climate will be uninviting to foreign online casino operators due to the many other countries in which they can operate that will be taxed at a much lower rate.
Protection For Players
The protections offered to Swiss players under the Money Gaming Act will serve to prevent players from being exploited by illegal online gambling operations. Internet Service Providers in Switzerland will be required by the new legislation to block all ISP’s of online casinos that have not received the authorization to provide online gaming in the country.
Only casino operators already recognized by Swiss officials will be allowed to offer online versions of their gaming experience. This guarantees that all online casino operators are already knowledgeable about laws concerning the gambling industry in the country and have displayed a history of following those laws.
The Act will also add additional protections for individuals interested in the Swiss lottery system as well as real-world casinos. Devices will be installed on all public gambling machines that will assure underage individuals are prevented from accessing gambling machines. Casinos will also be required to take additional actions to not allow children to enter casinos. These measures are intended to negate the possibility of underage Swiss citizens to develop gambling addictions.