A couple of years ago, the Czech Republic was considered one of the few countries in Europe where the entire vertical of gambling is officially allowed. However, it is here that the procedure for such entertainment is carefully regulated.
The Law on Gambling entered into force in 2016. So what is the state of the Czech gambling industry now, and what are its features - read our material.
Legalizing gambling in the Czech Republic requires a license to conduct gambling business. Since the Czech Republic is part of the EU, this license can be obtained not only by a registered local company. But also companies registered in other EU countries. This opened new opportunities for foreign investors to obtain a European gambling business license.
Currently, the list of licensed gambling entertainment in the Czech Republic includes:
And in fact, each of the listed directions requires licensing since all these entertainments fall under the category of the law (Law 186/2016 Sb. "On gambling" (Zákon č. 186/2016 Sb., O hazardních hrách dated May 26, 2016. )
The law itself formulates the concept of "gambling" as follows:
These are gambling games, bets, and lotteries, in which the player makes a bet, but no refund is expected. Winning and losing depend entirely and partly on random and unknown circumstances.
each type of gambling has a separate type of basic license.
According to the Law, three main bodies regulate business activities in the gaming sector:
At the same time, the last two bodies cooperate closely and provide the Ministry of Finance with data on the work of districts.
Everyone who plans to conduct business activities related to gambling must pay a certain tax, depending on the type of gambling activity.
Thus, the share of the partial tax base of the lottery and technical games is:
At the same time, the legislation of the Czech Republic closely monitors the implementation of rules and laws.
Therefore, in case of violating these norms, the business owner will have to pay a considerable fine, reaching up to 1 million crowns for individuals and up to 50,000,000 Czech crowns for legal entities.
To obtain a license to conduct a gambling business, you need the following:
And, of course, gambling should not violate public order.
As for online gambling, the industry is subject to much stricter requirements that even the betting giant William Hill has left the Czech market.
The most serious difficulty lies in obtaining a license, so most local operators work here, for example:
One of the main requirements is the presence of an interface in the Czech language.
In addition, opening an online casino and obtaining a license for it requires the preparation of certain documents, namely:
And also, a statement must be submitted that indicates which gambling games the online casino offers.
The Czech Republic is one of the most profitable and environmentally friendly countries for the gaming business, and there are many reasons for this. First, this country's successful and stable economy continues to develop. Secondly, the documents necessary for gambling can be drawn up in about a month, and the conditions for conducting such a business are quite transparent and clear.
That is why the gambling sector not only flourishes successfully in this country but becomes another source of income for the state and jobs for the population.
LCWork helps professionals and employers find each other. We have a strong database of vacancies and resumes, including offers from the Czech gambling industry.
