According to reports out of Bulgaria their newspaper Trud has reported that the country is losing millions of leva, being their form of money and this in equation is two Bulgarian leva is equal to one Euro.

For some time Bulgarian legislators have been watching and discussing this issue of changing their current regulation for online gambling, this will include online gambling such as betting, toto, lotteries, and lotto which is currently ten percent of the gross revenue of the operator, the change in this type of gaming would change to tax only the revenue of the operator after winnings have been paid out.

Should these changes take place and online gambling regulations are changed the sports totalisator will have an opportunity to compete in new markets, and these new changes would benefit many of the online operators who are now being taxed.

With these changes it is approximated that the Bulgarian government could see a rise in tax funds from its current status of about 700 leva to what is claimed by their experts an additional 600-millinon leva.

The Bulgarian state lottery will be glad to see this change as with the current taxation laws their payout in taxes is approximately eighty-five percent, leaving little funds to improve their games with the new technology available.


- 2007-11-22