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Online Gambling Lawyer
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Volume: 16 Issue: 8
(August 2017)

Keywords:
czech ministry finance issues hourly loss guidance czech ministry finance announced 21 july 2017 new set guidance designed enhance

Jurisdictions:
czech republic

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Czech Ministry of Finance issues hourly loss guidance

The Czech Ministry of Finance announced on 21 July 2017 a new set of guidance designed to enhance consumer protection in the countryís gambling sector by restricting maximum hourly losses.

In its guidance, the Ministry of Finance presents a mathematical formula for operators to follow. This formula allows operators to work out maximum hourly losses based on a number of factors, namely the maximum number of games per hour, payout rates and maximum stakes.

The guidance has taken immediate effect and amends the Czech gambling legislation that came into force on 1 January this year. The guidance applies to both remote and land-based licensed operators.

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