Estonia legalizes online gambling
TALLIN, Estonia -- (PRESS RELEASE) -- After the success of the Baltic Poker Festival organized by online poker giant PokerStars, Estonia gets ready to open its door to a market that, even if in different and sometimes controversial ways, is gaining more and more success in the whole European Union.
Starting from the beginning of the year, the Government allows Estonian gamblers to gamble online thanks to a liberalization that is expected to help national troublesome public finances through a specific taxation imposed on gaming operators.
With the economy down by something close to 36% and the urgent need to find new sources of income, the liberalization adopted by the government will come completely into force in 2011 when the Estonian market will be opened to international gaming operators able to satisfy the requirements set by the public authority.
As for 2010, Estonian will be legally authorized to play only on nation-based gaming platform as the one set up by Olympic Casino group and developed by one of the most famous software companies of the industry, Playtech.
"We are truly glad of this opportunity to start our partnership with Olympic as the leading casino entertainment provider in Central and Eastern Europe," commented the Executive Manager of Playtech Mr. Mor Weizer and added that the chosen strategy of Playtech to concentrate its attention on well regulated markets and provide the premium technological solutions to the companies operating on those markets has once again proved successful as can be seen from this contract.
With the entering into force of the new Act about online gambling, Estonia went in line with many other European countries as Belgium, Sweden, Italy, Poland and The Netherlands where governments decided to seek money from gambling adopting ad-hoc legislation on the issue and opening their markets with precise rules against corruption and money laundering.
The constantly increased attention international operator are giving to Estonia with intense advertising campaigns and rumors about impressive investments already planned for the whole Baltic region shows also how the Estonian market is seen a gateway for high profits and an important occasion to breech into the whole Baltic market.
All this hoping that, now that online gambling is legal as the one played in the real casinos, no one will ever have to report about stories such as Arvo Viool one, ex-manager of the Fund for Furthering Culture whowas arrested and put in prison for having stolen about 500,000 Euros from the State to satisfy his thirst for gambling