Switzerland’s Money Gaming Act

Switzerland’s Money Gaming Act – new gambling law approved

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Following almost three years of discussion, Switzerland’s Money Gaming Act, known as the Geldspielgesetz, has been approved. Switzerland’s Money Gaming Act will pave the way for online gaming to be legalised in the country.

The new Switzerland’s Money Gaming Act legislation connects land-based casinos and online gaming into a single piece of legislation. Only these operators who have a Swiss land-based presence will get a chance to operate gaming websites. International operators will be allowed to team up with Swiss casinos to offer their products and services to the local player.

Swiss Internet Service Providers will block local players from accessing international operators who are not in deal with a Swiss land-based casino. According to the new legislation states that winnings from lottery or sports betting will be taxed only if it exceedes CHF1m.

The Money Gaming Act will also allow small-scale poker tournaments to be organised away from casinos.

The new Switzerland’s Money Gaming Act’s gaming laws are expected to come into force in January 2018 but it could be delayed if opposition increases to 50,000 signatures. The Free Democratic Party, the Green Liberal Party and the Swiss People’s Party are all against the Act.

The previous laws on gambling in Switzerland were set in 1923 and revised in 1998.

Switzerland’s Money Gaming Act – new gambling law approved was last modified: October 12th, 2017 by CasinoNews.Today