Gambling laws in some parts of Europe are causing concern

Anyone interested in gambling and the gambling industry in general will have noticed that online gambling is the prime area for growth targeted by all the major bookmakers in their financial statements. Most of the best known bookmakers in Ireland now offer sports gambling and casino gambling online, usually on the same web site so that their customers need only register once to access both forms of gambling. Unfortunately cash strapped governments throughout Europe have also noticed this trend towards gambling online, and many of them now see online gambling as a potential source of additional revenue. New legislation is being discussed and implemented in many countries, much to the dismay of the major online gambling organisations which were gearing up to take advantage of a proposed relaxation of the gambling laws in America only to find that their core business in Europe is now under threat. New gambling laws in Greece for example have prompted William Hill to announce that they are withdrawing from the Greek online gambling market altogether, a decision that is likely to cost the company as much as £5 million from their bottom line. In this instance William Hill are quoted as saying that the new Greek online gambling rules are in their opinion contrary to European Law, but there is no doubt that increased taxation and regulation in many of the other major European countries is in the pipeline. Germany, Spain and the UK all appear to be considering their options so the gambling industry looks set for major changes in the near future. Whilst we’re discussing William Hill, it appears that the proposed takeover of Sportingbet is to go ahead, at a somewhat reduced price following their recent disappointing financial results, but most shareholders will apparently still receive a reasonable cash return.