Ireland’s Sports Betting Laws
In Ireland, the Betting Act of 1931 was the first legislation in relation to gambling. This act was about regulation and taxation in respect of any bookmakers on-course and retail throughout the country. Later, Gaming and Lotteries Act was implemented in 1956.
Even though this law permitted sports betting and lotteries, it criminalized casinos. However, there were a few exceptions in the legislation which allowed some private clubs to provide casino-like services. Consequently, these clubs flourished whereas huge gambling facilities suffered as they could not keep up.
In response to the obsolescence of the Gaming and Lotteries Act 1956 in view of its unsuitability for the internet age, there was a need to introduce the Betting (Amendment) Act 2015. Consequently, online bookies were required to apply for remote operating license whether they had an office in that particular country or not.
After that, things could continue to be adjusted in Ireland’s betting sector in 2021, as the Irish Government has declared its intention to create its own gambling regulator. This may result in licensed bookmakers being required to have a physical outlet within the country even if they were operating under a remote license consistent with Betting (Amendment) Act 2015.
History of Sports Betting in Ireland
There has been a proliferation of betting shops and on-course gambling in Ireland over the years, with some famous stories of punters taking on the bookmakers.
The cunning expert gambler schemed and devised strategies for outsmarting betting companies during his passionate involvement in horse racing for a long period; some of his successes will always be remembered as legends.
Betting shops in Ireland are not the same as those in the United Kingdom. FOBTs are gambling machines where one can place bets on various casino games, slots and virtual racing.
It is worth mentioning that these machines allowed players to lose a lot of money very quickly and became unpopular with people for their addictive nature. The main advantage of this method is that it has the potential to bring about high income levels. However, even before the new limit was imposed, they still generated huge sums of money for UK companies. Irish authorities were quick to respond by outlawing FOBTs in 2013.