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The approval of a decree enabling the Government to introduce more attractive horse betting regulations might overturn the current decline of this type of game.
The Status of the Italian horse betting market
Horse betting has always been a type of game that is part of the Italian tradition. But the growth of fixed odds sports betting accompanied by the launch of online gaming and betting led to a fast decline of horse betting.
The reasons of such decline were also identified in an excessively burdensome tax regime and by regulations which restricted the product offering, as occurred up until recently with sports betting.
What might change in the next 12 months
The Parliament has approved a decree empowering the Government to adopt in the next 12 months regulations aimed at boosting the horse betting sector. Such regulations shall provide among others:
- a minimum payout of at least 74%;
- a margin based tax, as currently provided for most of the games; and
- the liberalisation of the horse betting offering which will therefore allow operators to offer the type of bets and events as selected at their discretion that is indeed the regime now applicable to sports betting.
The above does not necessarily mean that the Government will adopt such measures, but there is a political desire to introduce such changes.
Who will be able to offer horse betting?
Horse betting will be covered by both the upcoming betting shop/corner licenses and by the online gaming and betting licenses. This is indeed because the Italian gaming regime provides for a broad general license covering most of regulated games and specific technical approvals which change depending on the types of games.
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