18th of January 2013 Author: Ava Jackuard
Italian regulator AAMS is planning to run a consultation initiative on permission for operators to offer other games and slots on their bingo websites. The consultations will end the third week in February, leading to the implementation of more liberal regulations towards June-July.
As it was recorded in June 2012, the online bingo sector in Italy saw revenues plunge by more than 34 percent to just Euro 3 million. Therefore, draft regulations were submitted to the European Commission for approval around September. The EC has approved the changes, which should enable operators to boost revenues by offering players more variety and interest.
Some changes include permission to introduce new types of bingo and jackpot offerings, as well as new provisions for a minimum ticket price of Euro 1 cent a game ranging up to Euro 10 a game.
According to industry experts, side games on bingo sites can boost revenues very significantly, which may be of little relief for bingo operators because of high taxation (11 percent plus a 1 percent SOGEI fee) continuing to make viable business difficult with a minimum 70 percent return to players requirement.
Still, Italian online bingo operators are better off in comparison with their land counterparts: land bingo operators pay 20 percent on turnover plus a 3.8 percent SOGEI fee, although their minimum return to players is lower, at 58 percent.
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Interesting article and I wonder how these same issues will play out when the USA decides to actually develop their own similar laws. I find it very informative to see how much the bingo industry is paying out vs. their margins for profits. a 70 percent return to players is in itself extraordinarily generous, and then add the 12 % in taxes and the profits seem almost impossible to gain once overhead and payroll are taken into considerations. But any profit is profit, and if the revenues generated are large enough, well, there's money to be made here by all.
I am sure the players are in support of the new and more liberal innovations being sought here. The minimum and maximums on the jackpot and other games are very nice and suitable for all levels of players on the economic scale. With carefully thought out planning and clear guidelines for implementation, this initiative can only mean good things for the players and the industry and the government as well. Keep us posted on the outcome of this and other similar happenings in the bingo world.
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