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Online Casino & Gambling Site Reviews
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Todays News British Online Casinos “Poaching” Czech Gambling BusinessThe traditional sports betting market in the Czech Republic is being hurt severely by the influx of casino online sites, particularly those associated with the recent British legalization of casino online sites in the Gambling Act.The five major Czech betting companies- Tipsport, Fortuna, Chance, Sazka and Synot Tip, are already seeing declines in their business. Gambling companies took in Kč 11.2 billion (€ 392 million) in 2003, but that number declined to Kč 10.6 billion in 2004, and revenues not expected to be higher in 2005. “They’re illegally poaching our business,” said Vratislav Randa, the director of Tipsport. Czech traditional betting firms are finding it difficult to compete with casino online sites, since the latter have much lower overhead costs and can therefore give out more winnings and prizes. Casino online sites are illegal under Czech law, and the Czech finance minister has asked the British online betting firms to leave the country. The British companies, however, have refused to leave the market, saying that their British licenses allow them to operate in all European Union nations. In the latest effort to force the British casino online sites to leave the Czech Republic, the Finance Minister has opened an investigation by the Supreme State Attorney’s Office. When the matter has been investigated, the casino online sites will either be taken to court or given the government’s stamp of approval.
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