Belgium, one of the fastest growing markets in the bookmaking industry in the UK announced that there are plans to open two brand new gaming properties in the region. According to casino online reports, if the plan converts into action, this will increase the number of terrestrial gaming operators in Belgium to 11. Many Internet gaming fans are ecstatic and excited about this development. According to the newly-formed Belgian government, two land based properties will be built. The overall number of casinos in the country jumps from 9 to 11. The move is to ensure the enhancement of the economy of Belgium which is one of the most affected due to the current European recession.
The announcement regarding the physical gambling venues opening in Belgium is remarkable news even for Internet gaming players. In the present, the government imposes a mandatory requirement for all mobile casinos to be in partnership with a land based gaming property in order to legally operate. Some of the mobile gambling sites legally operating in Belgium and that have received their license are Bwin.Party, Unibet, Ladbrokes and Internet poker room, Poker Stars. There is a huge difference in accessing Belgium based game sites compared to countries such as France, Italy and Spain. For instance, players are allowed to take part in games that could be accessed in a global pool. In a country with a total population of 11.2 million, gambling may continue to be a national sport. When it comes to tax laws, Belgium does not impose taxes on the winnings of players.
Although there is previous tax legislation exempting winners from taxes, this trend could dramatically change as the government seeks more tax revenues. Belgium’s financial sector reiterates that professional players should by all means comply with winning taxes. Based on the statement of the Belgium administration, regular players of poker who invest time and effort into their profession must have their winnings declared as income thus subject to taxation. However, there are sectors that see this tax law change as a burden especially for professional poker players as experts are saying those who generate enough earnings must comply with a 75% tax.