Estonia Legalizes Online GamblingBy: Harper Whitefield
Estonia annouces it is legalizing online casino and gambling. This small European country next to Russia is taking a hard hit in the recession and is now using online gambling as an extra stream of tax revenues. In 2010 only Estonia based gambling operators (Playtech in cooperation with Olympic Casino Group) will be allowed. But from 2011 Estonia is planning on opening the market completely to all European operators.
The small country”s economy was hit hard, estimations say 36% down in 2009, this is an excellent way for them to generate extra income. Estonia is a very small country with just 1.3 million citizens. It joined the EU in 2004, after it had regained indepencancy from Russia in 1991. Plans were for Estonia to adapt the EURO as currency in 2013, however to be able to do so the economy should be stable, with a 36% downfall this is unlikely. Maybe gambling can come to the rescue for Estonia.