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Online Casinos Safe So Far

Ireland has been the seat of some heated debate over the past several months as land and online casino bookies attempted to convince the Irish government to leave well enough alone where taxes are concerned. The industry won on one front – the online gambling industry is still tax-free while the tax on land bookies and betting shops has doubled to 2 percent. This is a low blow for some of the bookies that do not also operate within the internet gambling industry and instead only collect revenue from land betting. But it’s a happy day for now for the online casinos and betting sites who were given a bit of a reprieve from taxation while the government officials continue to assess the situation and come up with a workable situation that does not send the gambling companies running for the hills.

Ireland is currently regarded as a bit of a safe haven for the online betting companies – they do not face taxes from the government and they are able to keep operating expenses low when operating out of the country. But that would all change if they government once again attempts to levy a tax on the gambling and betting companies that are actually routing their gambling monies through other jurisdictions. The online casino gambling industry is really tricky and governments have to tread lightly when interacting with these companies – any threat of unfavorable legislation and regulatory restrictions and it is quite easy for the gambling group to shut down local operations and take all of those jobs to a new country.

The Department of Finance is looking to prevent the online betting companies from leaving Ireland, but at the same time Finance Minister Brian Lenihan is not precisely going to win the “favorite person” award in Ireland this year. Lenihan has raised taxes on Irish workers across the board, irregardless of income levels. This pro-tax mentality could mean that new taxes are imminent for the online casino betting and gambling industry operating out of Ireland.