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  1. #1
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    Default Bulgarian economic growth boosts iGaming market

    According to an article by iGamingBusiness.com, The Bulgarian Trade Association of Manufacturers and Operators in the Gaming Industry's (BTAMOI) annual report shows that the online gambling sector paid BGN111.6m (€57m/$64m) in taxes over the first nine months of 2018, up 17% year-on-year.

    From the report:

    BTAMOI said 26% of that total related to licence fees, with the remainder from the 20% tax on GGR, meaning Bulgaria’s 13 regulated sites – including operators such as bet365 and GVC's bwin - took in total handle of BGN413.5 during the period.

    Online gaming makes up approximately 10% of Bulgaria’s total gambling market according to the association’s figures, with the remainder generated by land-based operators.

    Total gambling tax contribution for the period to the end of September was at BGN174.4m, a 20% year-on-year increase, which came despite concerns over reduced tourism from Turkey affecting casino performance.

    BTAMOI believes the upward trajectory of Bulgaria’s gambling sector is due to factors such as new technology being more widely available throughout the country, as well as economic growth.

    “For the period 2017/2018 the gaming industry in Bulgaria has shown very good results at national level, based on the country’s upward economic performance,” BTAMOI said, with Standard & Poor today forecasting Bulgaria's economy to grow by 3.6% this year thanks to soaring private consumption and low unemployment.

    It added that “the gaming industry is a factor in economic development, providing long-lasting employment, adding a further variety of services to tourism, and last but not least, attracting foreign investments in the country.”
    Read more here: http://www.igamingbusiness.com/news/...igaming-market

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    That's great news, but there's still the issue of the ever growing tax increase on people.

  4. #3
    salis010 is offline Public Member
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    I think the Bulgarian fees and taxes might be within the reach of the big guns but not for small operators. Shame, cause some very successful gaming companies started from very modest start-ups. And the language is surely a barrier. That said, even some big operators have opted to stay out the market. In any case let's hope that the Bulgarian market will continue to grow.

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    The increase is in the total taxation but not in the rate I believe... but maybe I'm missing something here

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    Triple7 is offline Public Member
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    Quote Originally Posted by salis010 View Post
    I think the Bulgarian fees and taxes might be within the reach of the big guns but not for small operators. Shame, cause some very successful gaming companies started from very modest start-ups. And the language is surely a barrier. That said, even some big operators have opted to stay out the market. In any case let's hope that the Bulgarian market will continue to grow.

    All true, but on the other hand, giving licensed to 100's or 1000's of crappy brands and after that come up with insane rules about ads and fees, as the UK did, isn't working either.

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    Quote Originally Posted by Triple7 View Post
    All true, but on the other hand, giving licensed to 100's or 1000's of crappy brands and after that come up with insane rules about ads and fees, as the UK did, isn't working either.
    You have a point here

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