Italian iGaming Reorganisation Opens the Door for Crypto Operators

The reorganisation of Italy's gambling sector might come with more stringent controls and higher licensing fees. Still, crypto casino platform Stake feels there is enough potential in the market to dive right in. 

 Italian Gambling Act Revision

With the success of the existing online gambling licensing regime with the Customs and Monopolies Agency (ADM) tasked with executing the “Reorganisation of Gambling” decree that the Italian government handed down.

For online casino operators, the most noteworthy items in the decree included:

1. Awarding a total of 50 new online gambling licenses.
2. An increased license fee of €7 million (securing nine years of operation) and an annual Gross Gaming Revenue (GGR) tax of 3%.
3. Limiting a single brand identity to each license (i.e. no skins or white labels).

While the new regime does come at a higher cost, the expanded operating length of 9 years, enhanced blocking of website access, and payment processing for black market casinos make it worth operating in the market legally.

Shortly after completing its required standstill period on 18 November 2024, the Italian government received the go-ahead to approve and implement these amendments.

 Stake Step Up to the Plate

Popular crypto casino and sportsbook Stake is one of the noteworthy new brands to go all in on the Italian gambling market. They recently made their intent clear by acquiring a longstanding Italian sportsbook to secure a foothold in the country.

Brais Pena, Chief Strategy Officer, said:

Quote

“We’re excited about our plans for the Italian market. We’ve recently acquired Italy-based sports betting and remote gaming operator Baldo Line SRL, part of the Octavian Group.”

They have also publicly announced their intent to secure an online casino and betting license in December 2024, when it becomes available. They note that the new licensing fee of €7 million would not deter them from establishing their brand in the country, which will include an expansion of their offices in Rome.

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