It was recently revealed that the Austrian gambling market will soon undergo a series of significant changes. The Finance minister for Austria Gernot Blumel has announced that the government will produce a new system of reforms to the gambling market in the country. Those reforms include a new regulatory regime to administer the revised rules for both the online gambling sector and terrestrial operations.
The young politician demanded last year that the regulations for gambling be ‘untangled ‘with enforcement and licensing and no longer handled by the ministry of Finance. The proposed revamp of the current system is going on despite the continuing scandal involving Blumel and some of his fellows which alleges there was illicit campaign funding coming from gaming machine firm Novomatic.
It was reported that the planned restructuring will focus on the prioritizing of player protections including a national self exclusion program for all the forms of gambling. It was suggested the new regulatory body will step up enforcement against illegal operators and develop a black list and demand internet service providers block access.
It was also suggested by the minister that Austria will mirror the examples of neighbouring countries such as Germany and introduce a monthly online gambling deposit limit as well as stake and time limitations. Blumel also said that new tax regulations would be involved for the operators to fund government problem gambling aid.
The comprehensive refurbishment of Austria’s gambling market wouldn’t be complete without a list of advertising restrictions and anti corruption safeguards designed to keep gambling operators from contributing to political parties or their representatives. It was declared that the government also wants to abolish all federal video lottery terminals licences and ‘loot boxes’
It was also reported that the government intends to put its plans in effect before the end of April making the proposal ready for consideration by the parliament by the fall.