Switzerland Set to Legalise Online Gambling
Switzerland have become the latest nation to begin implementing plans for the legalisation of online gambling by introducing a regulated framework to ensure betting sites are being operated securely and fairly.
Online gambling is still unregulated in many countries across Europe and the rest of the world, which opens the door for illegal betting sites to operate undetected and leaves their customers vulnerable to fraud and other potential risks.
Currently only Lotto games and sports betting products are regulated and can be played online in Switzerland, but the new changes to the law will ensure that casino clients, bingo operators and poker rooms will now also be allowed to legally operate.
The new online gambling regulations seek to emulate those used in the UK, where strict laws on advertising, finances and marketing have been put in place to allow online casinos and card rooms to operate safely and legally. Despite the tight regulation of the online gambling industry in the UK, companies have thrived and the market has recorded impressive growth over the past five years.
However, although the signs are encouraging for Swiss online gaming, some industry experts believe that the new legislation already needs to be changed as operators outside of Switzerland will not be able to process payments at Swiss banks.