Bulgaria's gambling market has doubled in ten years
Gambling business revenue in Bulgaria has grown twice over the decade. This is supported by the local operator's earnings report: in 2017, they generated revenues of $1.9 billion, which is twice the number for 2007.
According to iGaming experts, the overall growth is due to new gambling-oriented legislation. In 2013, Bulgaria revised its gambling regulation, which resulted in an improvement of taxation policies for operators. If previously the registered gambling companies were levied 15% on their gambling revenue, now there is an alternative tax instead of corporate.
According to the statistics of the Center for the Study of Democracy (CSD), the licensed operators contribute to the overall growth of the country's income from gambling. Thus, in 2016, the budget was replenished by $116 million, and for the three quarters of 2017, the profit grew by more than $90 million.
Tax cuts have attracted many foreign operators to relocate to Bulgaria. Currently, there are more than 1300 gambling companies registered within the country (according to Moodys Amadeus).
Experts believe that in the future, the favorable gambling taxation will also contribute to the growth of the country's profit from gambling business.
Read also: Another US state legalized sports betting.
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