Switzerland is set to remove its ban on internet casinos. The proposal is set for the second half of 2013 and is being done in order to regulate the market which will lead to licensing fees and potentially taxation of winnings. The Swiss are taking this step after consulting with other countries in Europe who have undertaken the regulation of online gambling and have a set of laws that govern it.
The goal is for the Swiss to use revenue that results from taxation and licensing fees to fund sporting, cultural and social projects for the people of Switzerland. The Swiss Government stated it will apply the same rules to betting gains as it does with its land based casinos in order to keep the playing field level. This is seen as the best solution in order to keep things fair for all parties involved.
The Swiss Federal Department of Justice will be working with the government to assist in in new laws that will govern the nation’s 26 states with respect to the new legislation that is expected to come.
More updates are expected to follow as this will be closely monitored within the online gaming industry.