It has been stated by the famous internet gambling company Betfair that the company has succeeded in acquiring the needed licenses for the company to operate legally within the newly regulated online gambling market of Spain. The announcement also stated that Betfair will be able to offer different gambling services that will include blackjack, poker and roulette and sport wagering.

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As for the tax that the company is going to pay, it has been stated that the firm will pay 25% of its gross revenue in the form taxes. This tax has been paid by the company for over a year now, since 2011 in May since the Spanish authorities issued the most recent gambling law. As for the back taxes that were asked by the govt., Betfair reached an agreement and a settlement and paid around ten million Euros. The total back taxes that were collected by the Spanish govt. have amounted up to seventy million Euros, which is equivalent to 87.5 million dollars.

This move has been expected for over a month now since the end of May, but the whole process started last year in the spring when Spain decided to legalize online gambling and to regulate it under the umbrella of the govt. After the receipt of the license, all of Betfair’s websites and services are going to be unavailable for the players in Spain. The players will then be transferred to the new websites and sport books that have the .es suffix.