Italy extends sports betting licenses until June 2024

As a result of recent regulatory developments, sport betting operators in Italy have been able to escape their license dilemma. This was made possible by the Italian parliament’s decision to extend concessions for an additional two years, giving the country more time to fine-tune its recently enacted gaming policies.

The Italian Ministry of Economy issued its preferred guidelines for gambling regulation in February. These guidelines are aimed at reducing the negative effects of problem gambling, putting an end to black market operations, and making the most of tax revenues.

The Ministry of Economy has yet to present its Gambling Reorganisation Bill, which would require parliamentary approval as well as the approval of Italy’s regional governments to become law. The Ministry is working against a tight deadline to present its proposed order before the Italian general election, which is to be held no later than June 1, 2023.

The Ministry supports the implementation of a regional sports betting restructure, which would require land-based operators to limit the number of outlets and locations they have within secure areas.

The Customs and Monopolies Agency (ADM) has announced that licenses for bookmakers will be extended until June 30, 2024. The agencies are expected to pay an annual fee of €7,500 for each franchise, with a total of 5,755 betting shops allowed.

The Italian government supported the move, estimating that it would earn an additional €63 million from businesses once the licensing issue that its long-term franchisees had to deal with was resolved.

Furthermore, businesses that offer sports betting as an additional service must pay €4,500. This rule applies to brands that make bets in addition to their main business. Since the concessions ceased to exist on June 30 of this year, operators are unsure what will happen next.

When it comes to implementing these new payments, operators have a lot of leeway. They must make two equal payments for the period beginning June 30, 2022, and ending June 30, 2023. The payments are due on October 31, 2022, and April 30, 2023, respectively. The dates remain the same for the second year.

Additional regulations will be implemented, including requiring licensed businesses to implement a mandatory measure. It would also include spending and time restrictions for users, betting stake limits, and access to Italy’s self-exclusion database.

More sport & gambling news