Published on May 1, 2015 in Industry News

Irish FlagNew online gambling laws have just been approved by the Irish government and it will enable Ireland to implement new online gambling tax rules.

The forerunner of attempting to have the Gambling Act 2015 introduced since assuming his role as Irish Finance Minister more than three years ago, is Michael Noonan. Recently Noonan confirmed that the act had been handed over to the country's president to be signed into law.

“The Betting Amendment Bill is just a first step in providing for a well regulated betting and gambling regime,” Noonon recently said in a statement. “This Bill will allow for the regulation of those providing betting services by remote means to persons within the jurisdiction for the first time. This is a major step in the right direction. The implementation of the regulatory regime for remote operators will also allow for the extension of betting duty to these companies.”

What Gambling Act 2015 means for online gambling

  • Online casino, gaming and bingo services in Ireland will face a 1% tax on gross gaming revenue.
  • A 15% net revenue rate will be set for all online sports betting operations. This is the same rate set by the UK Gambling Commission for activities in the UK gambling market.
  • Any online gambling operator wanting to offer their services in Ireland will be forced to acquire an approved license which will be valid for 2 years.
  • Operators that attempt to offer their services without a valid license could be fined up to €300,000.

The new laws are expected to be in place by the 1st of August 2015.