New rules will bring gambling in line with lotto and lotteries
Gambling on the outcome of an event, including sports, will be exempt from Value Added Tax (VAT) from January, as will the services of bookmakers and betting exchanges.
A notice published in the Government Gazette last week shows that as from January 1, the placing of bets and wagers, including the services of bookmakers, betting exchanges and “equivalent facilities” will be exempt without credit for VAT purposes.
Events on which betting and placing of wagers will be exempt include sporting events, both real life and virtual, competitions, lotteries, performance of an index and a natural phenomenon.
Gambling on the outcome of casino-type tables games, such as blackjack, poker and roulette, and any game of chance where they outcome is determined by a random generator will not be exempt from the tax. Similarly, any gambling with the use of remote gaming equipment will not be exempt.
At present, government lotto and lotteries are exempt from the tax.
The exemption from VAT of gambling is outlined in the Value Added Tax Act, the notice shows and it is also an implementation of a Council of Europe directive on the common system of VAT.
According to this directive, EU States may exempt from VAT “betting, lotteries and other forms of gambling subject to the conditions and limitations laid down by each Member State”.
Questions by this newspaper to the Finance Ministry on how this would work and how much revenue the exemption would cost the country were not answered by the time of writing.
Last year, Malta’s VAT revenue was just over €0.7 billion, which translates to 7.3 per cent of the country’s Gross Domestic Product.
Pragmatic Play Partners with Starkbet
Pragmatic Play, a leading content provider to the iGaming industry, is celebrating the signing of a new partnership with Starkbet, enhancing its standing across Latin America.
Like many partnerships in the region, this latest tie-up with Starkbet includes three of Pragmatic Play’s popular verticals. Its Slot provision will see players able to enjoy recent releases including Rocket Blast Megaways and Diamond Cascade, as well as a host of award-winning popular hits like Sugar Rush and Gates of Olympus among 300+ quality titles.
The operator’s Live Casino offering will be significantly stronger once the deal goes live, with consistent top-performing titles such as Sweet Bonanza CandyLand and Mega Wheel being available for players along with a comprehensive collection of classic games such as roulette and blackjack.
Pragmatic Play’s Virtual Sports titles which offer a wide range of realistic games to complement real-life sporting schedules also form part of the new deal. Products like Force 1 and Horse and Greyhound Racing are among the sports soon to be available, giving bettors on-demand opportunities to enjoy a large selection of bet markets.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “It’s a pleasure to welcome the Starkbet team on board as Pragmatic Play’s latest partner in Latin America. It’s another fantastically strong brand that we’re delighted to see Pragmatic Play bringing its content to and we’re sure the relationship is going to work out incredibly well for both parties.”
Henry Berger, CEO at Starkbet, said: “Starkbet has always been a popular choice for LatAm players and that will be even more true now we will have content from Pragmatic Play in our portfolio. Its games are among the most requested among our players and we’re going to able to offer them so much more as a result of this agreement.”
Pragmatic Play Brings Localized Roulette Table to Brazilian Market
Pragmatic Play, a leading content provider to the iGaming industry, has launched a localized Roulette table for operators in Brazil.
Creating its first Brazilian Portuguese-language version of its leading Live Casino product, the new release includes Pragmatic Play’s signature high-quality studio, boasting a 4K immersive view which Brazilian operators will now benefit from.
As with all of its Roulette tables, it also features interactive game statistics, the ability to save favorite bets and chat with a dealer as well as special bets: Final en Plain, Finales a Cheval, and Full Complete.
Joining a number of region-targeted Roulette tables such as Turkish Roulette, Korean Roulette, Swedish Roulette, and Flemish Roulette in its portfolio, the supplier continues to focus on delivering localized content in its Live Casino offerings.
The new table serves as a further testament to Pragmatic Play’s dedication to being the leading supplier in the Brazilian market.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Customised region-focused content has proven pivotal to the continued success of our Live Casino portfolio, and we’re delighted to now offer this to Brazilian operators with our latest Roulette table.
“Providing a table in the player’s native tongue will further immerse them into the game and increase the enjoyment of the experience, boosting engagement for our partners.”
Pragmatic Play Expands in Brazil with Beette Partnership
Pragmatic Play, a leading content provider to the iGaming industry, is setting its sights on further expansion in Brazil after signing a multi-vertical deal with Beette.
More Brazilian players will now be able to discover the supplier’s esteemed portfolio of slots, including award-winning classics such as Gates of Olympus and Sugar Rush alongside recent hits such as Zeus vs Hades – Gods of War.
In addition, Pragmatic Play will bring its live casino vertical live with the operator, including games such as PowerUP Roulette and Sweet Bonanza CandyLand alongside further twists on the classics.
Beette’s customers will also have access to the provider’s Virtual Sports offerings, featuring cutting-edge 3D renderings of horse racing, football, motorsport, and more.
The deal sees Pragmatic Play further bolster its position as Latin America’s leading supplier, with an impressive number of recent partnerships throughout the region as well as several LatAm awards to its name.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “We’re thrilled that Pragmatic Play is bringing its three most prominent verticals to Beette, giving them the opportunity to expand even further in Brazil and Latin America.
“Pragmatic Play has a truly impressive portfolio of exciting and engaging games, with Latin America as a key market. We’re excited for new players to experience their titles and can’t wait to see what they think.”
The representative of Beette said: “Pragmatic Play has some of the biggest and best games out there, with a portfolio of acclaimed, easily recognised titles that we can’t wait to bring to Beette.
“It’s a brand that has made impressive strides in Latin America already, so we’re ecstatic to be partnering with Pragmatic Play and contributing to that success. We’re confident this will be a successful partnership.”
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