The Internet has changed a number of industries, and the online gambling industry is no exception. In fact, the online gambling industry is one of the largest sectors of growth that came about due to the advent of the Internet. This is the case all around the world. Gambling online in Poland made the news recently, due to the fact that one of the largest providers of online gambling in the country pulled out due to changes in legal regulations. When it comes to gambling news, and a lot of it boils down to legal matters, since this is a heavily regulated industry that is always changing.
So what happened?
Pinnacle Is a company that recently pulled out of the Polish gambling market due to some widespread laws that would hinder gambling online due to a large tax increase. This tax increase of approximately 12% was enough for pinnacle to decide to leave the market in this region of the world. In response, a number of other online gambling companies also left Poland as part of what has been considered a mass exodus in the online gambling industry.
In addition to the tax rate increase, Pinnacle felt that the Polish government’s decision to block IP addresses for gambling violations was not firm enough in terms of security matters. Many localities have used this IP block method, and it is widely known to be very ineffective and inefficient.
While the tax increase was the major reason that Pinnacle decided to pull out of the gambling industry in Poland, weak security measures were also a major contributor. This is important, because in order for online gambling to take place, people will need to feel comfortable about their ability to spend money and win money without any matters making the system unfair or weakly secured.
In addition to Pinnacle, a number of other online gambling giants, to include William Hill, Bet 365 and Energy Bet, decided to call it quits as well. They send out notifications to all of their players and customers, letting them know what this change and also letting them know the reason for it. It will be interesting to see what sort of effect this has on the Polish government and the way that they decide to handle current and future online gambling matters.
As of right now, the country will lose out on a lot of revenue that comes with online gambling in Poland. Polish citizens will also have to turn to other avenues for their gambling hobby and for sports betting. Unfortunately, this typically means going to underground resources, which are not regulated aboveboard like those managed by the Polish government.
The online gambling sites did not enjoy the fact that it appeared that Poland was fostering a gambling monopoly. They want the industry to remain free and available so that the market can be decided by the customers who choose to do business with certain companies. For now, this move will have a large effect on online gambling in Poland.