The OVWG, an association for betting and gaming in Austria, has recently released a statement. In regards to needing to introduce a new online gambling licensing system in Austria. The call comes after a debate surrounding creating a new modern licensing system, which is operating nationally for both online gaming and sports betting.
The new licensing system may help generate up to fifty-million Euro in revenue. This alone is for the sports clubs in the central European country.
Details Within the Statement Regarding the New Online Gambling Licensing System
Within the statement, details have emerged of how the recent global health COVID-19 pandemic has impacted the betting and gaming industry in Austria. Also, that sport in Austria will continue to struggle if things do not change.
Besides, both getting and gaming providers are seeking support during these unprecedented times. And a new online gambling licensing system may help solidify the market and bring about new streams of revenue and taxes within Austria.
Besides, the current licensing system in the country is long outdated. It also holds too much of a monopoly within those areas of business.
COVID-19 Pandemic Effect on the Economy in Austria
Austrian sport is one of the economies that has been hardest hit by the Coronavirus pandemic crisis. The current figures in the country and the resulting tightening of restrictions give cause for concern. It is mainly that the economic situation for Austrian sport will continue to deteriorate in the coming months.
The Austrian sport and the gaming and betting providers have always been essential business partners. That is also the reason why they want to support them in this difficult time. A permanent way to make more money for sports is to introduce a new online gambling licensing system.
This would help them without further burdening the state budget, which is already strained by COVID-19.