Five years down the line after the initiation of online betting in Italy, things have been running smoothly for the government apart from criticism from several betting companies on the tax levied. Nonetheless this has not hindered the government in imposing heavy taxation to the online betting sites. This has lifted the economy of the nation going against all odds and other stakeholders who saw online betting in a negative aspect back in 2010. The set rules have been crucial for the nation in attempt to eradicate the so called match fixing and other illegal dealings which have tarnished the online betting business.

To keep up this strong fight for any irregularities, the Italian Ministry of finance as well as the national chamber of commerce has indulged in a number of rules amendments to the betting sector of the nation. The recent change has involved the initiation of a 22% levy tax to all betting sites across the nation. This new move however is scheduled to start functioning in 2016 with the aim of improving the set conditions for the sector’s commercials.

This means that Italy will have to do with the controversial tax turnover which was scheduled for 2-5% and incorporate the new 22% set on the fixed net betting income. However, the new 22% is claimed to be 2% more than the stipulated tax rates on poker services, games as well as online casino. The new incorporation will be a part of the Italian legislators bid which focuses on having a new enterprise in the market by 2016.

The Amministrazione Autonoma dei Monopoli di Stato (AAMS) has been faced by a series of critics from several European operators who have argued that the state corporation has incorporated unjust tax scheme which have been hindering the growth and provision of services to online betting operators.

The new policy of 22% tax levy will however has to go past the Chamber Committee who will approve or reject it to the corporate law. There were other changes and increases in both the amusement with prizes (AWP) as well as video lottery terminal (VLT) operators. AWP will see its tax increased to 17.5% where the payouts will go down to 70%. On the other hand, VLT will be at 5.5% up by 0.5%.

Most bookmakers are being faced by tough moments in the betting industry. William Hill has been struck by a total of £23 million total taxes in the Q3 of the year. The firm claims that this has been attributed to the absence of World Cup football as well as the incorporation of fresh betting levies by regulators.

The news comes after William Hill claimed that its total profits went down by 39pc for three months until September whereas its net income fell by 9pc. This resulted to a £23 million tax levied to the firm in the third quarter of the year.

William Hill added that it is facing antagonizing moments of the year as compared to this time of the year in 2014 when the firm enjoyed additional income that resulted from the football World Cup in Brazil. The company also added that the resultant tough rules on betting and its levies has attributed to their drastic profit fall with an increased tax payment.

The Chief Executive of William Hill James Henderson claimed that he believes all will be well and by the end of the current fiscal year, his firm would oversee a rise in its incomes. He continued to say that they expected the Q3 to be tougher enough since with no World Cup being played and the introduction of new regulations. The current quarter also faced a deprived outcome to various betting retail bases of William Hill with the US and Australia most notable. This led to a drastic decrease in shares by a whooping 7pc to record at 321.3p the lowest in the last 16 months.

Last April, the incorporation of the over £50 bet across all gaming machines commonly termed as fixed odds betting terminals was also a fundamental factor to the fall in the FTSE-250 company.

An analyst with Cenkos Simon French denoted that the less strong weak margin was the main reason as to why the performance was below par unlike many had anticipated. The consolidation wave that was experience in the betting industry played a bigger role in the income subsides by William Hill.

As this happens, William Hill main antagonist Ladbrokes and Coral are undertaking a strong association worth £2.3 billion whereas Bwin.party agreed to assimilate Sportingbet-owner GVC for £1.1 billion.

Racing heads with the leadership of British Horseracing Authority (BHA) have joined hands with the aim of eradicating the issue of bookmakers sponsoring racing events, tracks as well as festivals. The effect will come to be not unless these bookmakers pay levy contributions. This move was processed by the Arena racing Group (ARC) and the Jockey Club who have ditched the bookies since they have not been meeting their levy principles.

The enforcing of the levy acts has been attributed by the fact that a report by BHA has indicated a total loss of £30 million every year by the British Racing which equals to the tax payments. The report also indicated that there is a high possibility of racing contributions by bookmaker from £105 million in 2004/04 to £53 million in 2017.

Chief Executive of the BHA Nick Rust claimed that British racing has been according millions of people with much needed fun, created over 85,000 jobs as well as incorporating £3.4 billion to the economy. However, the reluctant of Horse Betting levy system to fund them from the incomes generated from the

The BHA claimed that those bookmakers who have contributed their levy share have been accorded with UK Racing’s ‘Authorized Betting Partners’. They include Betfair, bet365 and 32Red. The bodies have decided on holding the move up to the 31^st day of December where they hope to have come up with a substantial solution. All deals conducted at this period will be respected but won’t be reintroduced at any given time.

Chairman of the Racecourse Association Maggie Carver claimed that the RCA and other associates in the racing and betting platforms are working in order to come up with a Racing Right. Time will be accrued for the well-being of their relationship in spite of the Government welcoming the commitment strategy.

He continued to add that the RCA and its associates have for long appreciatedthe marketablerelations with stakeholders from betting operators. Nonetheless, it would be fair if there is integrity and fair rendering of levies for the benefit of each stakeholder. The ARC and Jockey Club Racecourses have shown the right procedure to undertake in such a scenario.

Heads at the online betting exchange Smarkets unveiled to their associates that they had two main announcements to make. Alongside its backers Passion Capital and Deutsche Telekom’s venture capital arm T-Venture, Smarkets claimed that it had acquired remote betting operator license from the Republic of Ireland. This prompted the firm to relocate its HQ to London which provides a convenient locality for controlling its outside businesses.

Following the recent review of gambling rules in Emerald, Ireland now joins the League of Nations that has taken the initiative of according operators with remote betting licenses. This will not only attract more investors in the nation but also boost the income from taxes from these betting firms.

The betting exchange firm claimed that its main objective would be having a centered market in Ireland and attract more clients with their new incentive of low commission rates. Clients with the firm will be accorded with a 2% commission to profits emanating from betting as opposed to 3-5% charge that is incorporated by other marketing firms.

The CEO of Smarkets Jason Trost claimed that it is their duty to award their clients with top class value and openness in their products and services. Their objective of expanding their markets in Ireland gives them an opportunity to award their customers with amazing market odds that are accompanied by a low commission charge of 2% which is very low as compared to other firms offering the same. He was eager to work together with Irish clients as well as having an idea of their main base.

Smarkets has been on the rise in terms of development. This year alone, it claimed to have more than 400% YOY and also stipulated that it would incorporate 75 more staff members who would be based in its new HQs in London.

Its new operational bas in St Katharine in London is a top-floor 10,000 square foot bespoke space that was designed by ThirdWay Interiors; a design company based in London.

Mr. Trost continued to say that the new base will be a source of employment to lucky UK populace as well as providing a strategic location for controlling all businesses happening in and out of the firm. This will be done before the conclusion of the Q4 of 2015.

A ‘Game On’ Conference meeting is scheduled to take place on the 13-14 of October this year with the aim of reviving gambling in Ukraine. The Kyiv based meeting involves global experts, captains in the gambling industry as well as top official in the Ukrainian government. The main agenda would be initiating a passage unto which betting would be brought back in the nation in a transparent way following five years absence.

Nonetheless, the reviving of the betting practices in the nation means that there will be initiation of new rules which would be followed to the letter not only by casino operators but also sports betting, online gambling as well as lottery acts. This would be fundamental in maintaining the interests of the nation as the first priority as well as putting in check the conduct taking place in accordance to the international standards. This initiative by the government will also play a key role in the affairs of the state including attraction of foreign gamblers which would boost the tourism sector as well as raising the revenue for the government.

The newly incorporated gaming industry is deemed to create more than 300,000 job opportunities in the next five years as well as bringing in extra UAH 2.3 billion as tax income in a year. The revenue can be used in other social services and the Ukrainian government would welcome such a move.

The Conference marks the start of several varieties of events with the initialization of rules of first order that would be beneficial to clients, operators as well as the government. This would be tagged along with acquiescence of the report to the Ukrainian parliament and the re-launching of the gaming industry.

Those in attendances in the conference and speakers include the Who’s Who of the Ukrainian politicians as well as global gaming industry advocates selected from various huge gaming firms. The conference provides casino operators, legislators, suppliers as well as equipment manufactures with ample time to discuss more on the future of betting in the nation.

ACE Publishing Ltd is the company that is behind the success of the conference and it is leading other companies in bringing back gambling in Ukraine.