The Minister of Finance of Ireland, Michael Noonan, had made attempts to enact the Ireland's Betting (Amendment) Bill to introduce a new tax rate for online bookmakers and betting exchanges. The Betting (Amendment) Bill introduces a legal basis for the regulation of gambling, estimating that it would generate an additional 25m in tax revenue, 6m of which, will be used to support the country's greyhound and horse racing industry, with a further 5m allocated to maintaining Ireland's racetracks.
The Betting (Amendment) Bill was submitted to the European Commission in July 2014, including amendments enforcing a ban on unlicensed operators. The amendments allow the Irish government to issue unlicensed operators with a compliance notice, asking them to shut down their operation by a set date, and allowing companies to appeal the notice.
The country's Minister for Justice and Equality, Frances Fitzgerald TD, announced his intention of introducing a broader gambling control bill midway through 2015, providing a framework for the wider industry. The terms of the Act would include licensing and compliance powers, and would replace existing legislation: the Betting Act 1931 and the 1956 Gaming and Lotteries Act, as well as, amending the 2002 Finance Act.
The legislation has been delayed a number...