Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Online gambling sites lose bid to access Swiss market - court

Published 12/14/2021, 06:19 AM
Updated 12/14/2021, 06:22 AM
© Reuters. FILE PHOTO: The spinning wheel on a Roulette table is seen at the Dragonara Casino in St Julian's, Malta April 11, 2018. REUTERS/Darrin Zammit Lupi/File Photo

ZURICH (Reuters) - A Swiss court has blocked requests by foreign online gambling operators to access the Swiss market, which gaming officials have limited since 2019 to Swiss-approved games of chance.

That means Swiss gamblers can bet online only with Swiss casinos and lotteries that pay tax in the country and that protect people against falling victim to addiction.

© Reuters. FILE PHOTO: The spinning wheel on a Roulette table is seen at the Dragonara Casino in St Julian's, Malta April 11, 2018. REUTERS/Darrin Zammit Lupi/File Photo

In four verdicts released on Tuesday, the Federal Administrative Court ruled against Malta-based Interwetten International Ltd, Videoslots Ltd, bet-at-home Entertainment Ltd, and Lopoca Gaming Ltd in suits against the Swiss Federal Gaming Board seeking to circumvent the ban.

"It goes without saying that the restriction of access to online gaming services that are not licensed in Switzerland is in the public interest and can be enforced with strict measures," the court said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.