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When it comes to Liechtenstein's gambling regulations, the country has faced a number of problems since Liechtenstein is a very small country in Europe with a fairly low population. In addition, many attempts have failed to regulate online lottery sites and lead to bankruptcy. With that, it seems that Liechtenstein cannot be separately licensed like many other European countries due to the fact that the residents here do not favor it in favor.
Gambling Laws in Liechtenstein
The Geldspielgesetz Gambling Act (GSG) 2010, which came into effect in 2011, is the main governing act of all gambling activities in Liechtenstein. GSG reserves the right to license and administer casinos.
In Liechtenstein, gambling is legal and authorized by the franchise system. In April 2016, the GSG Act introduced a license approval system instead of the original concession system, which helped to expand the gambling market for many operators in Liechtenstein. Profits from gambling entertainment services must be donated to charity projects and events.
The Economic Offices, under the Ministry of Infrastructure, Economy, and Sports, overseeing gambling activity in Liechtenstein are responsible for licensing and revoking licenses. In addition, they will monitor slot machine suppliers for compliance with the Gambling Act regulations.
In October 2019, the Liechtenstein government decided to strengthen oversight of gambling activities and set up its own gambling division in the Economic Office. The department will regulate the operations of approved casinos and scheduled casinos.
The Liechtenstein government sees the legalization of gambling as creating new jobs for the people of Liechtenstein. In addition, additional tax deductions will be deposited into the treasury and the number of tourists will increase. The bill came into effect in 2011, but today no land-based casino has been opened in Liechtenstein territory.
Gambling Events in Liechtenstein
In 2011, the Liechtenstein International Lottery Organization which provided the first form of online lottery went bankrupt. For now, bettors in Liechtenstein can only select foreign operators.
Casino Vaduzerhof AG was scheduled to be franchised in 2012. However, this estimate was delayed because Admiral AG filed a complaint, resulting in a one-year lawsuit. In the end, the Liechtenstein government decided to review the hasty rules on gambling activities.
Although gambling activities in Liechtenstein have been officially legalized since 2011, there was no casino or online casino before. However, in May 2017, two major casinos entered the Liechtenstein market: Admiral Casinos AG and Casinos Austria AG.
The gambling entertainment industry in Liechtenstein is believed to have a bright future as many believe that the new casinos in Liechtenstein could compete with those in Switzerland, as the tax percentage in Liechtenstein is much lower than its neighbors. This also means that more foreign investors will enter the betting market in Liechtenstein, helping to contribute to the rapid development of the betting industry and increase profits in the state budget.
Payment Methods in Liechtenstein Casinos
The payment methods on Liechtenstein casino are the key aspect that any gambler will be interested in. At Liechtenstein casinos, the popular forms of making the payment methods below can all be used to make deposits quickly and securely:
Credit and Debit Cards such as Visa, Mastercard and Maestro;