DUBLIN (Reuters) - Ireland's stalled plan to tax online gambling will be further delayed into 2015, the country's finance minister said, offering bookmakers such as Paddy Power a longer grace. 2015 marked the start of the implementation of the European Union's Value-Added Tax (VAT) on electronic services, a move that is set to cost online gambling operators tens of millions of Euros per year.
- Long gambling history
- Reputable
- Different forms of activities are possible
- Good player protection
- Tax-free winnings
In Ireland, gambling is legal and its popularity is emerging. Along with innovations in the IT world, online features of this sector are developing rapidly, which leads to changes in legislation.
Irish approach to gambling is strikingly similar to the British approach. It offers strong player protection, allowing different types of gambling activities and obliging operators to obtain proper licences. New laws and regulations brought beneficial changes to the current situation.
Specifics of licensing in Ireland
First regulations were introduced in 1956, when the Gaming and Lotteries Act was released. According to it, gambling was totally unlawful. In 2001, Irish residents were allowed to gamble online. Finally, in 2013, gambling was totally legalised, so nowadays, Irish players can freely play in Ireland and on foreign websites. Both local and international operators can also organise legal licensed businesses in Ireland.
Forms of gambling activities include online casinos, lotteries, bingo, sports betting and poker. The favourite way of gambling is sports betting. To operate any of the gambling activities, one needs a licence, however, as to the lotteries, there is the well-known lottery controlled by the Irish authorities.
Another Irish gambling advantage is in the fact that no winnings are subjected to taxes.
Ireland Online Gambling Tax Credit
Ireland Online Gambling Tax Rate
Taking into account all the details, it is no surprise that the Irish gambling industry counts as reputable and reliable by all means.