Italian online gamblers with a desire for P2P betting exchange action may be seeing their dreams granted prior to the end of this month while the Italian regulator AAMS gets closer to adding this format of wagering in the accepted betting methods list.
The present implementation date for the new regulations is May 24th. It will see acceptable companies put through an through test and inspection by the SOGEI testing agency prior to being allowed among the Italian betting public.
Although, this process of testing is only set to start in July 2013 so the practical exchange betting among the Italian market is not likely to be ready until August or later.
The market in Italy offers a positive potential to companies such as Betdaq and Betfair. If these companies are licensed and accepted, they will be allowed to charge up to 10 percent in commissions on matched bets but will be required to pay a 20 percent tax on revenues to the taxman in Italy.
The per bet maximum winnings on the betting exchange activity were capped at Euro 10,000 by the regulator. Along with other ways to conduct online gambling, the Italian market is dedicated which is restricting liquidity to the players.
The French and Spanish equivalents have been talking with the Italian regulator about bids to take into consideration the gains of player pools that are shared but nothing definite has come from these discussions.
Competition that is home-grown is possible to be formidable as the Italian software and network provider Microgame has discussed a betting exchange product for quite a while and it has brain stormed with Betdaq partner Global Betting Exchange to develop a proprietary product with the brand People’s IBEX.