Ireland missing out in online gaming

Ireland has a recent history of successfully promoting and helping  high tech industries but it could be missing out on a huge opportunity in online gaming unless changes are made to the outdated 1956 Gaming and Lotteries Act. It is estimated that the online gaming industry is worth €44 billion per year and if Ireland were able to get even 2% of that it would be €8.8 billion and could also create a couple of thousand jobs. Surely no country is better placed as Dublin is already home to  one of the largest and best known online software providers Cryptologic whose products are already used by operators such as 888, Ladbrokes, William Hill and of course Paddy Power one of two Irish based bookmakers. (The other being Boylesports). Several countries including Spain, France and South Africa  are working on legislation and Denmark has a draft; the UK has produced legislation but as reported here has failed to get the tax issue sorted out so the current winners are Gibraltar, Malta and the Isle of Man so Ireland cannot procrastinate much longer or the chance will be gone.

The Department of Justice, Equality and Law Reform has a casino committee that described the Gaming and Lotteries Act as a “relic of social history utterly unsuited to effectively regulate gaming in a modern wealthy European state”, The Gaming and Leisure Association has been lobbying for the past three years to see new legislation and a regulatory framework put in place but the Government seems to be moving slowly. It would appear that Ireland is holding a number of Aces but could yet miss out on the pot.