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HomeEconomyAn additional 11 million from online gambling last year

An additional 11 million from online gambling last year

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An Extra $11 Million Earned from Online Gambling Last Year

Last year, budget revenue from online gambling reached 12.58 million euros, marking a remarkable increase of 2023 percent compared to 1.6 million euros in 2023, when it totaled 686.67 million euros.

Momo Koprivica, the Office of the Deputy Prime Minister for the Political System, Judiciary, and Anti-Corruption, reported that the amendment to the law and its effective implementation have contributed an additional 11 million euros to the state’s finances.

“This figure also highlights the former president’s shortsightedness and complete disregard for the public interest, as he neither returned nor signed the law establishing variable fees for online games of chance. This law, adopted in March 2023, has significantly boosted our budget revenues and would have generated at least seven million euros in 2023,” the statement noted.

The Cabinet emphasized that their earlier public appeals, which clearly showed the projected benefits for the state, did not yield results at that time.

“Nevertheless, the Ministry of Finance of the 44th Government revived these measures as part of its extraordinary reform efforts. The Government’s draft law, incorporating the mentioned model and other elements of effective public policy, was adopted at the end of 2023, with benefits for society and the state becoming evident in the past year,” the statement continued.

Overall, last year’s budget revenues from games of chance totaled 33.81 million euros, reflecting an increase of 11.5 million euros or 51.27 percent compared to 2023, when revenues stood at 22.35 million euros.

“Taking into account the two one-time casino fees paid in 2023, which are charged once every decade, the actual increases are even more significant,” stated the Cabinet.

It is worth noting that just a few years ago, these budget revenues ranged from ten to 12 million euros, indicating substantial losses for the state due to inadequate legislation, systems of privilege, and a lack of control and anti-abuse measures.

“Due to the competent management of the Gaming Authority, which conducted its responsibilities with professionalism, accountability, and impartiality, combating various abuses and enhancing regulation, the effects of the legislative changes have been realized. This fosters public trust in our operations,” the statement added.

Moreover, they noted that the Management of the Administration, alongside professional officials, addressed numerous abuses regarding the distance of betting facilities from schools, rejected all inappropriate applications, and commenced the successful implementation of a new, contemporary, and more reliable information system for supervising the organization of games of chance, which aligns with the Anti-Corruption Strategy.

The reorganization of the inspection service, which is now integrated into the Ministry of Finance, will provide an additional and much-needed impetus in the ongoing fight against abuses.

The Coordination Body for the Protection of Public Interest within the domain of Games of Chance has developed an Action Plan comprising a comprehensive set of measures aimed at combating addiction, involving multiple institutions in its implementation as this remains the Government’s main priority considering the alarming inherited circumstances.

“For the first time last year, the Ministry of Finance and the Government recognized the social importance of this issue and financially supported a campaign against gambling addiction during the renowned FIAT festival, with participation from prominent Montenegrin actors, establishing a clear direction within the Coordination Body,” the statement remarked.

In conclusion, it is clear that effective laws and a steadfast commitment to combating abuse not only promote equality before the law and protect fundamental social values but also provide direct positive impacts on the state budget, expanding opportunities for the state to address various public needs.

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