Gambling Industry Overview in Serbia
The following approaches will be presented:
- Gambling legislation in Serbia
- Gambling authorities in Serbia
- Online casinos in Serbia
- and more
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Serbia's gambling laws underwent significant changes in recent years, leading to stricter regulations and licensing requirements for operators. Online gambling was legalized in 2011, with the complete set of regulations introduced in 2013. Amendments were also made to the law in 2020, encompassing standardized guidelines for advertising, responsible gaming, and anti-money laundering (AML) policies. As a result, Serbia now provides a dynamic and regulated environment for individuals to engage in legal gambling activities.
Relevant Legislation in Serbia
Serbia has a well-regulated gambling industry governed by several key pieces of legislation. The primary law governing gambling activities in the country is the Law on Games of Chance, which was first enacted in 2006 and has since undergone amendments to adapt to the changing landscape. This law sets out the legal framework for licensing, operation, and supervision of gambling activities in Serbia.
Under the Law on Games of Chance, all gambling operators, both land-based and online, are required to obtain a license from the Games of Chance Administration (GCA) to legally provide their services. The licensing process involves a rigorous evaluation of the operator's financial stability, integrity, and adherence to responsible gambling practices.
The most recent revision has resulted in increased tax rates for operators. Currently, online sports betting and lotteries are subject to a 15% tax, while “other special games of chance” such as casino games and slots face a 10% tax. Additionally, 40% of the government's gambling revenue is allocated to the Red Cross, an admirable initiative. Operators are required to make a minimum monthly tax payment of €10,000.
In addition to taxation and licensing requirements, the legislation also includes player protection, and anti-money laundering measures. Operators are subject to specific taxation rates based on their revenue, and stringent anti-money laundering policies are in place to prevent illicit activities within the gambling sector.
The Law on Games of Chance is also supplemented by secondary regulations and guidelines that provide further details on various aspects of gambling operations. These regulations cover areas such as technical requirements for gaming equipment, rules for advertising and promotion, and protocols for responsible gambling measures.
To ensure responsible gambling practices, Serbia has established the National Register of Players who want to self-exclude. This register allows individuals to voluntarily exclude themselves from all licensed gambling operators in the country, providing a tool for those seeking assistance in managing their gambling habits.
Entry into any Serbian casino is restricted to individuals who are 18 years or older, and a valid photo identification is mandatory. The capital of Serbia, Belgrade, is home to two casinos. These gambling establishments, namely the Grand Casino Beograd and Fair Play Casino, are situated within large hotels. Local residents can provide any government-issued ID for verification, while foreigners are required to present their passports.
Online Gambling
Online gambling has experienced significant growth and popularity in Serbia since 2018, offering a convenient and accessible way for players to engage in various forms of gambling entertainment.
In 2011, online gambling was legalized in Serbia, allowing operators to obtain licenses and legally provide online gambling services. As mentioned, the licensing process is overseen by the Games of Chance Administration (GCA), which evaluates operators based on criteria such as financial stability, integrity, and compliance with responsible gambling measures.
For example, companies seeking a gambling license must meet certain financial requirements, including a minimum share capital of €250,000, a bank deposit or guarantee of €300,000, and a daily risk cash deposit of €10,000. The license fee for land-based casinos amounts to €500,000 per year, while online casino licenses incur a monthly cost of €2,500.
The granted license remains valid for a duration of 10 years. Online casino licenses do not have a set limit, allowing for a potentially unlimited number of operators in this sector. Conversely, land-based casino licenses are restricted to a maximum of 10 licenses, which are allocated following a public consultation process.
For both land-based casinos and bookmaker shops, certain proximity restrictions do apply. These establishments must be situated at least 100 meters away from one another and at least 200 meters from the nearest pedestrian path and educational institution.
A fundamental requirement for both online and offline gambling ventures is that the company must be registered in Serbia or any country within the European Economic Area (EEA). This ensures compliance with the established regulations and jurisdiction of Serbia's gambling laws.
Furthermore, the online gambling industry in Serbia is supported by secure and trusted payment methods, providing players with convenient options for depositing and withdrawing funds from their online gambling accounts. Encryption technology and other security measures are in place to protect player information and ensure a safe online gambling experience.
In recent years, the Serbian government has recognized the economic potential of the online gambling industry and the positive impact it can have on tourism and the overall economy. By regulating the market and providing licensing opportunities further, Serbia now aims to foster a competitive and vibrant online gambling industry while ensuring player protection and responsible gambling practices.
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