Bulgarian Economic Growth Boosts iGaming Market
Bulgaria's online gaming industry saw its tax contribution grow over the first nine months of 2018, according to figures released to iGamingBusiness.com.
The Bulgarian Trade Association of Manufacturers and Operators in the Gaming Industry's (BTAMOI) annual report shows that the online sector paid BGN111.6m (€57m/$64m) in taxes over the first nine months of 2018, up 17% year-on-year.
BTAMOI said 26% of that total related to licence fees, with the remainder from the 20% tax on GGR, meaning Bulgaria’s 13 regulated sites – including operators such as bet365 and GVC's bwin - took in total handle of BGN413.5 during the period.
Online gaming makes up approximately 10% of Bulgaria’s total gambling market according to the association’s figures, with the remainder generated by land-based operators.
Total gambling tax contribution for the period to the end of September was at BGN174.4m, a 20% year-on-year increase, which came despite concerns over reduced tourism from Turkey affecting casino performance.
BTAMOI believes the upward trajectory of Bulgaria’s gambling sector is due to factors such as new technology being more widely available throughout the country, as well as economic growth.
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