Liechtenstein Extends Online Gambling Prohibition until 2028
LISTEN TO THIS ARTICLE:The government of Liechtenstein has announced the extension of the ban on online gambling until 2028. Although gambling has been legalized in the Western European country since 2010, live online casinos have not been able to obtain licenses to offer their services in the jurisdiction.
The Liechtenstein government has also revealed a partnership with Switzerland aimed at exchanging information about banned players. According to the government, the deal, which is slated to start next year, will guarantee "effective cross-border player protection" between the countries.
Thriving Land-Based Casino Sector
While the online gambling sector of Liechtenstein remained dormant, its land-based market has thrived over the years. The sector has also contributed significantly to Liechtenstein's economy.
In 2018, the country's first full year with casinos in operation, the two brick-and-mortar establishments in the jurisdiction generated a total revenue of CHF53.5m (£43.5m/€48.9m/$53.6m). Under a 34.5% effective tax rate, these two casinos collectively paid CHF19.9m (£18m/$23m) in gambling taxes and fees. However, in 2022, the government attempted to curtail the expansion of gambling in Liechtenstein by banning licenses for new casinos.
Earlier this year, the Liechtenstein electorate was allowed to vote through a referendum on whether they want gambling completely banned by 2028.
The referendum got participation from 70% of the populace, with 73.3% voting to keep casinos open. The result was surprising due to the concerns regarding the harmful impacts of gambling on Liechtenstein's image and fears of gambling addiction that preceded the referendum.
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