Gambling in Romania is a thing of the ages. One can date Romania’s gambling to past years of the 1900s with the birth of lottery clubs such as National Lottery or Loteria Romania. The activity grew in popularity in the 90’s until Romania was included in the Soviet Union where Gambling was banned by a dictator leader. After its democracy, Romania has embraced back gambling and this time included online gambling.
Legal framework of Romania’s gambling
Since gaining its democracy in the 90s, gambling became legal once again in Romania. This started with physical casinos with the first one being created in 1991 and later a slow growth of the online gambling industry. Online gambling in Romania was made legal in 2010 after an Act on its legality was passed by the legislature. By this time however, there was no legal body created to regulate the online gambling and thus foreign online sites offered gambling services with no restrictions. A regulatory body was later created in 2003 with the mandate of checking the online gambling in Romania.
The “tomorrow” of Romania’s online gambling
Gambling in Romania has thrived and will still do in future due to its deep roots. The government has played a key role in ensuring the progress of this sector. However, the same government has been involved in corruption that has since affected the image of the country on gambling.
What are the gambling interests of the Romanians?
Sport is the answer. Romania, just like most other European nations has deep love for sports and great excel too. Most online gamblers do so on sports given the country’s great excellence in the Olympic Games.
Poker is also another interest for the Romanian online gamblers. This has seen the country hosting the world’s greatest poker tournaments that attract players from all over the Europe.
Amendments in the Romania Online gambling Industry
The government of Romania has announced that it will be carrying out some changes by the end of 2015 in a bid to attract more online casino investors and encourage more people from all over the world to play from the Romanian online casinos. According to the Government Emergency Ordiance number 92/2014, the Romanian government wants to archive some of the restrictive measures that have been applied to the country’s gambling industry and mainly focus at reforms that will increase the government’s tax revenues and also encourage tourism. Among the significant changes includes a new tax on gambling that will substitute the universal 25% tax that’s applied on the winnings today.
What implications do the new rule have to gambling in Romania?
With this new rules, Romania will adopt a new tax system that will be based on three different tires which include a 1% tax that will apply to all the players who will put revenues between $200 and $24000 and 16% tax on those players with a revenue of between $24000 and $160000. For players with a revenue over $160000, they will be subjected to a tax of 25%.