The OVWG, the association for betting and gaming in Austria, has today made a statement on the need to introduce a new online gambling system for licensing.
The call comes after a debate surrounding the creation of a new modern licensing system operating nationally for both online gaming and sports betting.
According to reports, such new licensing system may help generate up to fifty-million Euro in revenue for sports clubs in the central European country.
Within the statement, details have emerged of how the recent global health Covid-19 pandemic has impacted the betting and gaming industry in Austria and that sport in Austria will continue to struggle if things do not change.
In addition, both betting and gaming providers are seeking support during these unprecedented times and a new online gambling licensing system may help solidfy the market and bring about new streams of revenue and taxes within Austria.
Reportedly, the current licensing system in the country is ‘long outdated’ and holds too much of a monopoly within that area of business.
More information and the statement from current president of the OVWG Claus Retschitzegger reads:
‘Austrian sport is one of those areas of society and the economy that have been hardest hit by the Corona crisis.
The current infection figures in Austria and the resulting tightening of restrictions give cause for concern that the economic situation for Austrian sport will continue to deteriorate in the coming months.
Austrian sport and the gaming and betting providers have always been important business partners, which is why we want to support them in this difficult situation.
A permanent way to make more money for sport is to introduce a contemporary online gambling licensing system.
With additional taxes and license fees, €30m to €50m can be earned and dedicated to Austrian sport.
This would help them – in addition to the existing sports funding and sponsorship services – without further burdening the state budget which is already strained by COVID-19.
The idea of the OVWG is to replace the long outdated monopoly in the online area with a licensing system.
In the future, licences should no longer be limited in terms of quantity but should be linked to compliance with high player and youth protection standards. Only those companies that meet these high standards and submit to state control should receive a licence.
A modern licensing system, as almost all EU countries already have, would bring further added value to Austria and ensure the attractiveness of the business location’