It seems Ireland is continuing to attempt to become a major force within the online gambling world realizing the massive benefits the industry can bring to the battered economy.
 
The country’s Finance Ministry has decided to continue with the policy of not taxing online casinos despite Ireland being categorized as the first country in the European Union to drift into recession.
 
Brian Lenihan, Irish Finance Minister, said that his department wanted more time to study the online gambling industry before deciding if and when to tax it.
 
It’s understood the Irish are on the verge of paving the way for online gambling sites to set up base there much in the same way Caribbean islands, Gibraltar and the Isle of Man already do.
 
It is speculated that Ireland already benefits from jobs created by online gambling sites using the country as a base and does not wish to discourage others from doing the same.
 
It’s a bold move considering the trend of increasing taxation for almost every other industry in the nation.
 
Ireland recently imposed a new tax increase on land-based casinos and gambling establishments, however the increase of only one or two per cent is barely noticeable and does not apply to phone-based wagers.
 
The decision by the Irish government will probably cause other online casinos to flock to Ireland, bringing jobs and prosperity.
 
A review carried out earlier this year into the gambling sector in the country advised in a report that a more liberal approach be taken to the sector.
 
The current Justice Minister Dermot Ahern said the existing laws on gambling were ‘past their sell by date.’
 
In practical terms the report claims as much as 50 million euro could be earned by the exchequer annually. Such a windfall would be warmly received by the Irish Government and indirectly the Irish people but the benefits of regulation don’t just stop there. The Gaming and Leisure Association of Ireland say regulation of all aspects of the gambling industry could lead to the creation of around 3,000 jobs, this figure jumping to a massive 10,000 if Ireland established itself as an International hub for online gambling.

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