Paddys first to offer online horse race betting in Italy
Italian regulator permits bets outside of official schedule to increase competitiveness with black market
Paddy Power has become the first licensed operator in Italy to offer customised fixed-odds sports markets and horse race betting online after the country’s regulator relaxed rules restricting legal sportsbooks.
Up until the move, licensed operators were disadvantaged by regulation preventing them from offering as wide a market offering as unlicensed competitors. Italian gambling authority Agenzia delle Dogane e dei Monopoli (AAMS) is expected to permit further operators to allow these bets in the coming weeks and months.
The idea to allow operators to offer bets not included in the official schedule published by AAMS was first announced during the summer but implementation of the plan suffered a series of delays.
Giulio Coraggio, leading Italian gaming lawyer and of counsel at DLA Piper, called the move a “major change in regulation”, however, added that AAMS also needed to amend current sports betting tax rules if the problems presented by illegal operators are to be addressed.
“The launch of customised bets will certainly make the offering of Italian licensed websites much more competitive which will help in the fight against the black market, but the main issue remains the applicable tax regime,” Coraggio told eGaming Review.
“Up until bets will be taxed on the turnover rather than the GGR, odds on foreign licensed websites will remain more attractive for players with damages for both the State in terms of reduced tax entries and operators,” he added.
The news comes after AAMS last week threatened to regulate games suppliers should they continue to provide games to customers operating in the black market.
AAMS is also shorlty expected to regulate exchange betting and virtual games.