A new law to increase regulation and taxes related to gambling in Republika Srpska (RS) is currently on the agenda concerning Bosnia’s top betting companies.
A spokesman for Premier Sport Betting rang the alarm bells by saying Bosnia’s top gambling company may need to close its doors if the new law passes.
The RS government deemed the issue an urgent procedure meaning the government does not have to hold a public debate on the issue. If passed, the RS Ministry of Finance will have control over all gambling in the region.
Gambling companies are opposed to the increased regulation from the government, and they are also worried about having to pay more in tax. Premier Sport Betting believes the new rules will greatly impact their profit margins.
The Ministry of Finance wants more control as gambling shifts to the online venue, and in a press release the ministry said they are aiming to improve betting in the region. The government wants to strengthen the Lottery of Republika Srpska Banja Luka, the national lottery to a similar standard of surrounding countries.
Premier says the government has poorly communicated the new regulations, and they are attempting to make the case that jobs will be lost due to the new regulations.
Gambling profits have been booming in the region. The government is looking to better profit off of the big revenues and has as part of the bill will tax even small winnings under $50.
Bosnia’s other entity attempted to pass a similar bill in 2016, but it failed to pass. Gambling is very popular in Bosnia, so the bills may suffer in terms of popular support, News Tunf reports.