..

Italy Debt Crisis: Online Poker Cash Games, Super-Satellite Tournaments Will Help

Written by:
Aaron Goldstein
Published on:
Aug/05/2011
Italy Debt Crisis - Online Poker Cash Games

The introduction of online poker cash games in Italy and government’s allowance of super-satellite tournaments will most certainly help create jobs and tax revenue for the nation, which now accounts for the biggest Internet poker market in all of Europe. 

Play on-line poker at WSOP.com

PokerStars.it is the 4th largest online poker room in the world (this is just the Italian players for PokerStars).  888.com is now the 5th, with much of the company’s growth attributed to the Italian market and its cash games. 

Prior to last month when cash games were introduced, only tournament poker was allowed on Italian facing online poker rooms.

Italy will benefit enormously from the change in regulation as online poker companies flood the market to pay big money for a gaming license.  Without the license, Web gambling firms cannot target Italian players.  US politicians should pay special attention to what is going on in Italy as the Italians mentality towards legalized online gambling just three years ago was similar to that of what we see in the States now. 

Italy is drowning in debt right now and this was reflected in the volatile movements (mostly downwards) in stock markets across the globe. 

Reuters News Service noted that, “after a selloff of Italian assets that started early in July, the country last month paid the highest rate in 11 years to sell new 10-year paper. The gross yield at auction on a 2021 BTP bond rose to 5.77 percent from 4.94 percent at the end of June.”

In addition to the licensing fees, the Italian government will benefit from the following revenue shares, as noted by GamingTechLaw.com

The gaming duty varies depending on the type of game involved. For instance in case of bingo it is 11% of the turnover, in case of cash games and casino games it will be 20% of the revenues, while in case of skill games (including online poker tournament) it is 3% of the turnover.

- Aaron Goldstein, Gambling911.com

500£ Bonus at WSOP.com

Poker News

Gambling 911 World Exclusive:   Matusow Responds to Accusation He's "Robbing" His Backers

Gambling 911 World Exclusive: Matusow Responds to Accusation He's "Robbing" His Backers

The "Mouth" issues a fiery profanity-laced response to these allegations. “They can suck a d***!”

Poker Player Fakes Cancer Diagnosis to Claim Free Tickets on ACR

Poker Player Fakes Cancer Diagnosis to Claim Free Tickets on ACR

Letter filled with multiple grammatical mistakes posted to the Web and player reportedly makes death threats to CEO, player ambassadors.

Americas Cardroom Boss to Stake 6 Players for $5 Million Venom in Fight Against Cancer

Americas Cardroom Boss to Stake 6 Players for $5 Million Venom in Fight Against Cancer

Americas Cardroom head honcho Phil Nagy vowed to stake 6 people to play in this week's Venom PKO online tournament with the profit split being half to the player and half to breast cancer awareness.

Suzie Zhao Murder Trial Delayed Until 2022: Poker Pro Burned Alive

Suzie Zhao Murder Trial Delayed Until 2022: Poker Pro Burned Alive

The new date has been set at January 3rd, 2022.  Jury selection was initially expected to take place this week in Oakland County, Michigan following two previous delays.

There is a Doyle Brunson Documentary Coming

According to a tweet from the ten-time World Series of Poker bracelet winner, a team have been filming for the last month with filming set to last "a lot longer".

Syndicate