ONLINE GAMBLING AND LAW IN BULGARIA

 PART 1
Gambling hasn’t been for a long time what it used to be. Boundaries aren’t of importance for it any longer. It is accessible from the mobile phone, the tablet or the computer. Luck is stalking us from everywhere and the good thing lies somewhere ahead. This is online gambling; a developed high-tech business sector, popular among the world’s citizens and, naturally, bringing in huge profits.

            Where are we? The Bulgarian Gambling Act is modern, it was passed in 2012, but with the corresponding legislative amendments from 2013 and 2014. Ultimately, after all listed changes, the Act has outlined a liberal legal framework for the offering of games of chance online. It complies with the European trends and good practices in this field.

            In Bulgaria, the license to operate online gambling shall be issued by the State Commission on Gambling. Operators have to prove investments of more thanBGN 100 thousand. These investments can be in tangible and intangible assets, including communications equipment, software, hardware, etc., the funds being in cash or in cash deposits. Furthermore, the Commission requires that the origin of the funds be proved both for the organization of the game and investment.

            Online gambling operators must have a central point and a central computer system which can be situated both in the territory of Bulgariaand the territory of another EU Member State or State which is party to the Agreement on the European Economic Area or Switzerland. It is a necessary condition that the controlling local server storing data for the gambling services which are offered from Bulgaria should include the registration and identification of the participants from Bulgarian IP addresses, as well as the bets placed and winnings paid. The server must be in the territory of the country and must be connected with the National Revenue Agency and the State Commission on Gambling; it must also provide each transaction in the computer systems of administrations with online registrations. The bets and payouts shall be made cashlessly, that is why the organizer of the games must have an open account in a bank which operates in the country according to the Credit Institutions Act. The gaming software of the applicant company must also be certified by a laboratory which figures in the list of the Bulgarian Gambling Commission.

 

 

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