Austria Considers Pause For Grey-Market Operators
Highlights
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Austria explores cooling-off rules for grey-market operators.
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As a result, the three-month EU notification period will take place during the summer, enabling the law to come into effect in the autumn.
The new Austrian iGaming law is entering its final stage of negotiation. Following this week, the representatives from the three governing parties – Austrian People’s Party (ÖVP), Social Democratic Party (SPÖ), and NEOS are anticipated to make the final legalization call.
A draft from the Ministry of Finance, which emerged in May, signaled the shift from the online gambling monopoly post the expiry of the current license in 2027. Since then, lawmakers have been actively involved in deciding upon new regulations to open up the market.
Recently, there has been an ongoing debate over whether a cooling-off rule or a transition period should be applied to offshore operators.
The SPÖ-led Ministry of Finance supports the new bill that intends to ban companies found violating gambling laws over the past 5 years. These bans would typically last between 24 and 36 months, says the public affairs consultant Felix Geyer.
Casinos Austria, the land-based casino monopolist, also favored the draft policy.
The Austrian Betting and Gaming Association (OWVG) suggests that delaying the licenses for grey market operators can disrupt the efforts of strengthening the regulated market.
“A cooling-off period would be the reform killer,” said OWVG president Simon Priglinger-Simader. “The federal government wants to bring players into the regulated market, strengthen player protection, and secure tax revenues.”
Despite the many uncertainties, the timeline is becoming increasingly clear. The government is targeting the final plenary session before the July summer recess to complete the draft legislation.
Under this timeline, the EU’s three-month notification process would run through the summer, with the legislation expected to take effect in autumn.
For the full news story, Read Here!
A draft from the Ministry of Finance, which emerged in May, signaled the shift from the online gambling monopoly post the expiry of the current license in 2027. Since then, lawmakers have been actively involved in deciding upon new regulations to open up the market.
Recently, there has been an ongoing debate over whether a cooling-off rule or a transition period should be applied to offshore operators.
The SPÖ-led Ministry of Finance supports the new bill that intends to ban companies found violating gambling laws over the past 5 years. These bans would typically last between 24 and 36 months, says the public affairs consultant Felix Geyer.
Casinos Austria, the land-based casino monopolist, also favored the draft policy.
The Austrian Betting and Gaming Association (OWVG) suggests that delaying the licenses for grey market operators can disrupt the efforts of strengthening the regulated market.
“A cooling-off period would be the reform killer,” said OWVG president Simon Priglinger-Simader. “The federal government wants to bring players into the regulated market, strengthen player protection, and secure tax revenues.”
Despite the many uncertainties, the timeline is becoming increasingly clear. The government is targeting the final plenary session before the July summer recess to complete the draft legislation.
Under this timeline, the EU’s three-month notification process would run through the summer, with the legislation expected to take effect in autumn.
For the full news story, Read Here!
