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Not Yet for Spain

The new Spanish regulations that are to effect land and online casino gambling in the country have been stalled this week because of alleged ambiguity in the regulations. Spanish officials announced the new regulations just recently and actually held a big conference for all of the major gambling brands operating in the country. The idea was to present the regulatory changes to the companies outright and take that opportunity to clarify any questions – well, there are a lot of questions still unanswered apparently and some of the sections of the new regulations may go back to the drawing board.

Clarification of the new online casino gambling regulations is a very big deal – other countries have passed through gambling regulations that are ineffective because of ambiguities and flaws (namely the US) and that makes the regulations very hard to enforce. The clarifications will occur on the taxation process. Spain is attempting to regulate its booming land and online caisno betting and gambling industry as a way to collect taxes from the companies and add that money into the state budget. Right now, the majority of the gaming companies pay taxes on Spanish gambling revenues to the UK and other countries – the new regulations propose to change this structure.

Although Spain is all set to get these regulations in place as soon as possible, the process may take as much as a year more according to some officials. There are definitely some pretty big changes about to take place for the online casinos and internet gambling companies so state government has to ensure that all of the right procedures are in place to accommodate the new regulations before they are put into effect.