GGB is committed to providing updated news and analysis on our weekly news site, GGBNews.com.

Bulgaria Revamps Online Gaming Laws

The Bulgarian Parliament has passed amendments to the country’s Gambling Act that include doing away with its 15 percent take on gambling revenues and elimination of the country’s online gambling blacklist.

Earlier, Parliament moved to allow gambling operators to apply for licenses online in an effort to make it easier for foreign operators to operate online gambling sites in the country.

One amendment abolishes the country’s 15 percent take on gambling revenues and replaces it with a one-time licensing fee of about $70,000 along with a 20 percent tax on gambling profits—defined as “the difference between the bets made and the winnings paid out.” In the case of poker tournaments or other games that rely on fees and commissions to make a profit, 20 percent of revenue will be taxed.

According to published reports, the amendments will also end Bulgaria’s blacklist of operators who are not allowed to operate in the country. More than 50 different websites were on the list.