Bulgarian sports book blames online gambling for woes
Eurofootball says online casino operators have a competitive advantage, as they pay none of the taxes that burden other Bulgarian gaming forms. While the new gambling tax may add as much as us$ 10 million to state revenue, according to Finance Ministry figures, Eurofootball says proper regulation of Internet gambling could raise more than ten times that amount.
Eurofootball officials also said Internet gambling operations are illegal, as none of the sites are licensed by Bulgaria as bookmakers. However, European Union rules insist that member nations allow online gambling sites licensed in other member countries to accept the foreign licensing as qualifying sites to operate.
It says revenue from sports betting has dropped by more than a quarter since the start of the recession, hurting registered gaming operations too much to afford greater taxes.
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