EU inked an online poker liquidity deal
Slotegrator, the leading aggregator of the best solutions for gambling market, reports that on 6 July 2017, Rome signed the agreement sharing the online poker liquidity between regulated gambling markets of the European Union.
The agreement involves gambling regulators of France, Italy, Spain and Portugal. On their websites, they published identical statements stating that the long-awaited liquidity agreement on online poker among licensed operators in the markets controlled by them was finally signed.
Currently, these largest European jurisdictions are reunited, so that they can launch a joint pool of players.
In recent years, the European online poker has been showing a declining trend. Thus, states’ budgets are losing significant tax deductions.
This happened because a few years ago, the pools of some European countries were separated from the global pool of poker players due to legislative initiatives. As a result, the liquidity shortage had led to a significant decline in the market, showing a decrease of about 10% in 2016.
With the signing the liquidity agreement between European countries, it is expected that this type of gambling entertainment will show significant growth in the near future, since the main purpose of this document was to solve the main problems that hamper the development of online poker in Europe.
Consequently, through a markets coupling, a framework has been created for cooperation between the leading European jurisdictions, each of which aims to create a high liquidity in the online poker market. The organization of unified taxation system and technical standards, which are especially important for cash games, is to be introduced soon.
The deal initially supposed the UK participation in it. The UK Gamblimg Comission (UKGC) was involved in the lengthy discussions that preceded signing of the agreement. Nevertheless, the recent Brexit referendum together with the prospect of Britain's withdrawal from the EU have led to the fact that the United Kingdom was excluded from entering into the liquidity deal between countries of the European Union.
Over the past year, many steps had been taken to make this important agreement real. In October 2016, the French Digital Republic Bill entered into force, allowing the regulatory authorities to begin negotiations on the liquidity sharing. In November 2016, the regulators of France, Italy, Spain, Portugal and the UK first announced that the reached agreements could be adopted in the summer of 2017. Moreover, in April 2017, the EU authorities approved the technical standards allowing Portugal to enter into an agreement with other regulated gambling markets in Europe.
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