Serbia, located in the southeastern Europe and being at the center of the Balkan Peninsula is not only famous for its cultural heritage and wonderful landscapes. Besides, it has become a special case in the field of legalized gambling by being able to present many opportunities for those who are interested and high-net-worth individuals that want to gamble. Through the creation of a full-fledged legal system, Serbia has become the center for those who want bets to betting sites in Serbia and sports betting in Serbia.
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Serbia’s Legalized Gambling Support
The Serbian government has put in place a well-functioning system that controls and supervises the gambling activities, such as sports betting and online casinos. The legal age for gambling is 18, and that means a responsible environment is created for the betting fans.
Key Regulatory Bodies
The gaming industry of Serbia is strictly supervised by several supervisory authorities, thus, the fair and regulated environment for gaming prevails.
- Gambling Control (Random Gaming Administration, GCA) is about giving out licenses and supervising the activities of casinos and online portals.
- The Tax Department of the Ministry of Finance is in charge of legal compliance, financial transactions and timely payment of fees and taxes.
- The Ministry of Defense is the main authority for monitoring gaming equipment and software, thus, it ensures the honesty in gambling activities.
Evolution of Gambling Laws
The gambling laws of Serbia were the first enacted in 1964, with a lot of reforms being made over the years to adjust to the changes that occurred in gambling. Notable milestones include:
2006: The legalization of gambling in Serbia.
- November 2011: The bill to reform the online gaming regulatory systems was finally passed.
- 2012: The 2011 law was put into practice, thus opening the market to licensed online operators.
- 2011-2020: Frequent changes which are meant to deal with the online gambling, advertising of it, responsible gaming and also anti-money laundering policies.
Gambling Law and Regulation in Serbia – 5 Things to Know
Licensing and Taxation of Betting Sites in Serbia
The process of getting a gambling license in Serbia is strict, so only the ones who comply with all the requirements and are financially stable can enter the market. Here’s a snapshot of the licensing requirements and taxation framework:
Licensing Requirements
- The online gaming licenses are valid for 10 years and the fee is EUR 2,500 per month.
- Operators are charged 15% on the gross gaming yield, and a minimum of EUR 7,500 should be paid every month.
- The applicants must show a minimum capital of 250,000 EUR and produce the detailed technical documentation.
Taxation and Fees
- The players are taxed 20% on their winnings that go beyond RSD 100,000.
- Operators have to pay a 15% tax on online gambling gross revenue and a 10% tax on land-based gambling revenue.
- 40% of the gambling government revenue is used to help the Red Cross and other social causes.
Important Legal Milestones
- March 3, 2020: The Law on Games of Chance is the whole law that deals with the organization and regulation of gambling in Serbia.
- July 10, 2021: The special gambling operators have until the new law is enforced to comply with its requirements.
The Prohibited and Permitted Betting Activities.
Serbia has outlined the boundaries of what is considered a legal betting, with the main focus on making sure that gambling environment is safe and sound. Even though the law allows different types of betting, it also guarantees that everything is done within the legal framework to protect people and promote fair play.
Conclusion
Serbia’s way of supervising the betting sites and sports betting is so thorough that it provides a balanced environment in which all the parties, bettors, operators, and the local community get what they want. Through the constant legal amendments, Serbia is ready to be in the lead of gambling industry in Europe and provide a dynamic and safe environment for gamblers.
The people who are interested in betting activities within Serbia, the country has a well-regulated, diverse and thriving betting landscape. Regardless of your familiarity with betting or being a newbie to it, the legal system in Serbia guarantees that you will have a clear, just and fun time.