Bulgarian authorities are considering regulation and online betting taxation as hundreds of millions of dollars leak through online gambling sites untaxed. The current revenues from legal gambling in Bulgaria amount to $520 million whereas another $440 million is believed to be gambled illegally and outside the tax net.
The measures under consideration will enable the sports totalisator to compete for new markets, develop new types of online games and “secure its future development through partnerships with private companies”. Besides, regulation of online betting will allow the nation to impose taxes on income from Internet gambling.
There is an opinion that state-owned gambling companies are the ones to benefit from regulated online gambling, as for the private firms they will be relatively cash-strapped as total disbursements will come in at over 85%of revenues.
