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Croatia to make registration compulsory for foreign online betting sites

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A Swell of Support Helps Expand the Online Betting Industry
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The Croatian Ministry of Finance is planning to enforce a legislation that would make registration within the country compulsory for foreign online betting sites. Only the registered websites will considered legal. This will be applicable to all international betting sites, which offer online gambling services to Croatian gaming enthusiasts.

Many experts have wondered why a financially underperforming country like Croatia is not taxing the online betting companies. It has been estimated that the country is ignoring two billion kuna a year, which is the estimated value of the online betting business in Croatia.

The scenario will change now. The following are the analysis on what happened till date and what could happen in the future.

The problem of the non-taxing of online gambling providers is not just a consequence of the reluctance of tax authorities to deal with this issue. The control and blocking of web betting sites should also include other institutions, such as Carnet and the State Attorney’s Office, and even the courts which are the only ones that can enforce the prohibition of business activities.

At the level of entrepreneurial freedom, what betting sites are doing is similar to tactics used by Amazon, Apple or Google on the European Union market, where they try to take advantage of under-regulation, risking enormous fines. Amazon, for example, recently paid 282 million euro in penalties for tax evasion in Luxembourg, following a European Commission’s action against it.

Advocates of the current situation in the sports betting market believe that fees for betting and related winnings are already too high and unjust, so it is quite acceptable for some players to turn to online betting. In addition to the manipulative costs of five per cent of the amount paid, which legal betting agents must charge for all tickets, players pay a minimum of ten per cent tax on their payouts, which increases up to a maximum of 30 per cent of winnings of over 500,000 kuna.

The usual reason for the inclusion of internet service is that it breaks state monopoly in the market, but in the case of sports betting this is not true since the two largest legal betting chains in Croatian market, Super Sport and Hattrick-PSK, are privately-owned.

There is also another issue. While gamblers using the services of legal betting shops on the internet must register so that it can be determined whether they are over 18, underage users can access the betting services more easily with the providers who have not aligned themselves with the local regulations.

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Eastern Europe

7777 gaming is now available on WINBET Romania

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7777 gaming is now available on WINBET Romania
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7777 gaming is excited to announce the launch of its 100+ certified games on WINBET Romania, a leading online operator known for its top-tier sports betting and casino entertainment. 7777 gaming’s most sought-after games are now available to WINBET players in Romania.

With over 20 years of international experience, WINBET has quickly become one of the most successful chains of gaming clubs in Eastern and Central Europe. Present in Romania, Bulgaria, Serbia, Croatia, Georgia, Belarus, and Tanzania, WINBET has been a significant player in the Romanian gaming industry since 2007, initially through gaming halls and later expanding with sports betting agencies and the online platform WINBET.ro (Casino and Betting).

7777 gaming’s extensive portfolio, which is now available to WINBET Romania’s players, includes popular titles such as Crazy 100 Bucks, Club Mr. Luck, Zeus Quest, Cash 100, and many more. This partnership is set to enhance the gaming experience for Romanian players, offering a diverse range of innovative and engaging game options.

Asya Raykova, Partnership Manager at 7777 gaming, commented: “Romania is a key market for us, and we are excited to bring our top-performing, certified games to WINBET’s extensive player base. This collaboration underscores our commitment to providing high-quality gaming experiences and reinforces our position as a leading casino content provider in the iGaming industry.”

Nita Cristian, Head of Casino at WINBET added: “With our dedicated team working tirelessly to create a welcoming environment that fulfills our customers’ need for entertainment, we aim to incorporate the most modern and in-demand gaming providers in the market, such as 7777 gaming. We eagerly anticipate our players’ feedback on the new game titles by 7777 gaming added to our website.”

Adding another strong partner in Romania to its business network strengthens the position of 7777 gaming as a leading B2B casino content provider on the market.

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Eastern Europe

OKTO expands digital payment footprint in Romania through Integration with Cyber Team Solutions

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OKTO expands digital payment footprint in Romania through Integration with Cyber Team Solutions
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OKTO, the only payment provider offering omnichannel digital payments across both online and retail sectors, is excited to announce its collaboration with CyberTeam Solutions, a leading Romanian company specializing in integrated solutions for the gambling and casino industry. This partnership will expand digital payment solutions across CyberTeam connected venues, enabling instant deposits and withdrawals with OKTO’s cutting-edge payment services.

This strategic integration introduces in Romania OKTO.DIRECT, the ultimate retail payment gateway, offering consumers hassle-free deposits and withdrawals with multiple payment methods, including Apple Pay, Google Pay, Visa and Mastercard as well as Instant Bank Transfer. Alongside OKTO.DIRECT, the integration also incorporates OKTO.WALLET, the advanced e-wallet of OKTO available for both retail and online use, providing an unparalleled omnichannel experience for users.

Vlad Evghenie, Country Manager Romania at OKTO, shared his enthusiasm for the collaboration: “At OKTO, we’re all about delivering next-level payments. We’re glad for our collaboration with CyberTeam Solutions and we’re fully aligned, giving users and operators alike the omnichannel, smooth, instant experience they crave for pay-ins and outs. This partnership is about raising the bar for gaming experiences across the board, and payments as the last mile of the experience is the most crucial.”

Echoing this sentiment, Cosmin Murzea, CEO of CyberTeam Solutions commented, “We’re excited to kick off this partnership with OKTO. By integrating their advanced payment technology with Cyber Platform, our player-centric gaming management system, we’re enhancing the gaming experience with seamless, advanced, and secure transactions that prioritize player experience, safety, and security.”

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Eastern Europe

SBC Summit Tbilisi 2024: Uniting Key Stakeholders for Vital Regional Insights

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SBC Summit Tbilisi 2024: Uniting Key Stakeholders for Vital Regional Insights
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1,500 industry professionals will gather in Tbilisi, Georgia next week for the second edition of SBC Summit Tbilisi. Organised in partnership with Georgia-based company, Sports Media Holdings (SMH), and supported by presenting partners EGT Digital and Amusnet Georgia, the event promises delegates unmatched opportunities to discover the latest industry innovations, expand their industry network and enrich their educational horizons.

The event’s focus on pivotal Eastern Europe and Central Asia markets, including Georgia, Ukraine, Armenia, Bulgaria, and Romania, along with emerging markets like Uzbekistan will provide delegates with a comprehensive exploration of these vital regions, guided by insights from esteemed local experts.

Set to take place between the 25th – 26th of June at the Sheraton Grand Tbilisi Metechi Palace, the specialised summit will unify key stakeholders from leading regional and global operators, suppliers, affiliates, game developers, media organisations as well as specialists in marketing, CRM, SEO, payments and more.

Former Manchester City COO, and founder of EQ Esports & Gaming, Chris Bird, will kick off the event by delivering a keynote titled ‘Influencers, Content and Esports… You Bet! Unleashing the Power of Dynamic Strategies in the Esports Ecosystem.’ Bird will share effective strategies for leveraging influencers to drive the growth of esports and produce engaging content.

The conference agenda will serve as a pivotal educational platform for delegates seeking to expand their knowledge of the Eastern Europe and Central Asia regions. Attendees can expect to glean vital knowledge from over 60 distinguished experts across two dedicated conference tracks. Discussions will encompass topics ranging from navigating the region’s complex regulatory and compliance restrictions to the impact of Euro 2024 on sports betting.

Additionally, the conference will spotlight the burgeoning iGaming sector within the region. Delegates will gain key insights into the iGaming landscapes of markets such as Romania, Bulgaria, Serbia, Georgia, and Slovenia. The agenda also includes discussions on cross-market strategies for iGaming operators, emerging market opportunities, and iGaming socioeconomic impact on local communities.

The exhibition floor will feature 30 global and regional brands presenting the latest industry-defining technologies, innovative services, products, and new game releases. Notable brands featured on the show floor include Amusnet, Aviatrix, BetConstruct, Betlive, CreedRoomz, Crocobet, Digitain, EGT Digital, Setanta Sports, VBET, Winfinity and many more.

Concluding the first core day of the event will be an exclusive Poker Tournament, sponsored by Betlive and EvenBet Gaming. Set to be held at the ATI Rooftop Restaurant at the Sheraton Grand Tbilisi Metechi Palace, the tournament offers delegates the perfect opportunity to sharpen their poker skills, network with industry peers, and enjoy complimentary drinks.

In the evenings, attendees can look forward to building meaningful business relationships in scenic, lavish venues across several dedicated networking events. The first core day will conclude with the ‘Official Opening Party’ sponsored by Setanta Sports at Stamba Hotel. On the second day, an exclusive VIP dinner for C-level executives will be held at the Republic Restaurant, followed by the ‘Closing Party’ at the Republic Event Hall.

Rasmus Sojmark, CEO & Founder of SBC, said: “The inaugural SBC Summit Tbilisi was a tremendous success. This year’s event has built on that foundation to deliver even more. We’ve expanded networking opportunities, enriched educational experiences, and secured some incredible speakers.

“This year, we really focused on providing a comprehensive exploration of key regional markets, ensuring attendees are well-equipped to thrive in their business endeavours in Eastern Europe and Central Asia.”

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