Martin Bohoš, Director General of Slovakia’s Office for the Regulation of Gambling Games, revealed in a press conference that Slovakians had collectively placed €21.36 billion in bets ($22.63 billion) in 2023.
Bohoš shed light on various facets of the local gambling landscape. The Director General noted that of the €21.36 billion in bets, total winnings amounted to €20.4 billion ($22 billion) while the expenditure on gambling stood at €1.32 billion ($1.42 billion) for the year.
Internet casinos emerged as the driving force behind the market’s growth, commanding a dominant position in terms of bets, winnings, and overall revenue. Notably, brick-and-mortar gambling establishments and sports betting also maintained significant traction among players.
From a financial standpoint, internet casinos made the largest contributions to the state budget, surpassing €93 million ($100.2 million), followed closely by sports betting with €80.48 million ($86.73 million). Brick-and-mortar casinos contributed €61.9 million ($66.7 million), rounding out the top three revenue generators.
A noteworthy revelation from the conference was the preference for online betting among Slovaks, which accounted for 90% of total online gaming activities. In contrast, traditional brick-and-mortar locations remained popular for number lotteries, while online betting in this segment lagged at just 14%.
However, amidst the market’s success, Bohoš highlighted regulatory challenges faced by municipalities in overseeing gambling activities within their jurisdictions. Despite possessing robust regulatory tools, municipalities struggle to effectively manage the industry.
Moreover, Bohoš expressed concerns over inadequate attention to gambling agendas by municipalities, leading to procedural errors and compliance issues. Failure to adhere to legal deadlines for notification obligations may compromise the integrity of the licensing process.
Anticipated prohibitive regulations by cities and municipalities are projected to result in a 22% reduction in levies from brick-and-mortar gambling establishments and casinos by 2025.
“From the perspective of the regulator, we need to talk openly about the risk associated with the ban on legal gambling, which creates conditions for the creation of illegal gambling halls,” Bohoš said. “I would like this topic to be subject to a wider social discussion.”
Efforts to combat illegal gambling remain a top priority for the office, according to officials. Recent enforcement actions targeting illegal technical devices, such as quiz machines and drawing machines, have yielded positive results. However, the persistence of illegal online gambling poses a significant challenge, prompting ongoing efforts to identify and address illicit activities within the digital sphere.
Original article: https://www.yogonet.com/international/noticias/2024/04/03/71537-slovakian-gambling-market-sees-growth-with-22b-wagered-in-2023-but-regulatory-challenges-loom
