Dutch Gambling Authority renews Sportech licence
Sportech's exclusive licence to operate horserace betting in the country is extended until end of 2014
The Dutch Gambling Authority (Kansspelautoriteit) has issued Sportech with a new exclusive licence to operate betting on horseracing in the country.
The previous licence expired on 30 September, and the new licence will run from today until 31 December 2014.
Under the terms of the licence, Sportech will pay 2.5% of the total amount staked to the Dutch Association of Trotting and Racing, helping fund the organisation’s management of the sport.
The renewed Dutch licence comes less than a year after Sportech received permission to exclusively operate online wagering on all horseracing in the US state of Connecticut, boosting the operator’s presence in the country.
The Netherlands is currently moving towards wide scale egaming regulation and published a draft legislation earlier this year, proposing a 20% tax on gross profit ahead of a potential market opening in January 2015.