The Czech Republic approves new legislation opening the online market to foreign operators. The law, which was adopted on the 13th of April, is expected to take effect on the 1st of January 2017, a year later than originally planned.
This legislation completely overhauls the existing Gambling Act which dates back to 1990.
It has gambling providers preparing to adapt to new tax requirements and a potential onslaught of new competition and it fully regulates online and land based gambling in all its forms, including slot machines, casino, bingo, betting and lotteries.
For the first time, foreign operators based in other European Union member states or EEA countries will be allowed to obtain licenses which will be issued for a maximum period of 6 years. Applicants shall provide a surety for each gambling type and for each online game type.
The size of surety will depend on the type of gambling product offered and will be between CZK 5,000,000 and CZK 50,000,000 (circa €185,000 and €1,850,000 at the current exchange rate).
