Israel has taken a strong stance towards banning online gambling. The country has long resisted the prospect of online gambling liberalization, making sure local gamblers don’t indulge in gambling online. The conservative attitude is highly apparent up to this day, with the government putting in place stringent measures to get rid of unauthorized gambling websites that target Israeli players.
Israel is one of the world’s most advanced countries, and one of the key leaders when it comes to the development of cutting-edge technologies. When it comes to economic and industrial development, the country sits at the top in the Middle East and Southwest Asia. However, Israel remains opposed to online gambling even though the multi-billion dollar iGaming industry grows at a rapid pace worldwide.
Online Gambling Crackdown
In 2005, even before the launch of advanced mobile casinos, the country’s Attorney General made sure local gamblers would have a difficult time gambling online by imposing penalties against credit card companies that facilitated the practice.
In 2018, a massive crackdown on online poker sites also took place, which ended up with the courts putting in place injunctions against a cluster of poker operators that were accused of catering to Israeli customers. This followed the passing of a law which resulted in the state shutting down all forms of online gambling operations.
Reasons For Renewed Hope
However, some of the latest developments give out clues that the country’s gambling sector could soon welcome new opportunities in the form of iGaming. This is despite the government and the courts’ tough stance on online gambling liberalization.
Let’s start with the developments in Guatemala. The Central American nation is preparing to enter into a trade deal with Israel. Legislators in the country are also drafting a bill that would liberalize the country’s gambling sector. It’s now been revealed that Israeli investors are planning to invest billions in Guatemala’s budding gambling market, and a number of key figures are involved in the process.
The expression of interest in pouring in huge amounts of money into Guatemala’s gambling sector also shows that investors want to expand their gambling portfolios and target overeas markets.
Another factor worth considering is the fact that local gambling companies such as Playtech are currently having a hard time competing with big Chinese operators leading to a significant fall in profits. The Israeli government can help these struggling companies by legalizing online gambling and giving local operators more leverage to boost their revenues and overall presence.
The highly-restrictive gambling sector in Israel pushes local players to spend their money on the black market. A number of offshore gaming operators target the Israeli market and a number of them offer online casino games in English and Hebrew. These online gambling companies cater to the Israeli market and accept payments via Israeli Shekels (ILS). Israeli authorities have tried to clean up the black market but these operators tend to find a way to bounce back.
A legalized online gambling market in Israel will help stop offshore operators from targeting Israeli players and will also bring in significant revenue for the government in the form of gaming taxes.
European Casino Wave Could Spread Into Israel
Many European countries are now considering changing their laws to regulate online gambling within their borders, and to get a slice of the tax revenue generated by the online gambling operators who are licensed by the Malta Gaming Authority. These iGaming operators target EU countries even though they don’t have a license to operate from these EU countries.
This is why a number of EU nations are looking to put in place their own iGaming laws and regulate the industry, issue their own licenses and tap into a lucrative iGaming market. UK, Spain and Denmark have already put in place their own online gambling regulations, and Sweden followed suit by passing a new law at the start of 2019.
The Netherlands approved online gambling in February 2019 and a regulated iGaming industry should be up and running by 2020. This ongoing trend in the EU could very well spread into Israel as there are a number of great benefits that come with iGaming legalization.
Should legislators move forward with online gambling legalization, it will give Israel greater control over the iGaming market, benefiting local players, local operators and the government!

Tight Poker Staff

tight-poker-staff

Tight Poker Staff

Administrator
For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.
For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.