Perhaps you want to spin some wheels but are unsure which licensed platform to get you started. If you are such a one, you need not worry. This article is curated just for that. We will look at some popular platforms to get you started and highlight crucial trends to look out for in the Czech gambling sector.

Always keep in mind that one fundamental aspect you need to take into account prior to engaging in any form of gambling is your safety. Thus, you wouldn’t wish to place bets on an unregulated site which may provide you with security risks. However, do you even know that the year-on-year global fraud rate in the gambling market increased by 80 % from 2022 to 2023?

The appeal of Czech’s gambling industry

According to a recent report by Drogy-info, more than fifty companies had a license to provide gambling in the republic as of January 2023. Mark you: these companies were based outside the republic. Czech’s gambling industry has continued to evolve, drawing the attention of zahraniční online casino platforms to share in the growing market.

You may actually be surprised to learn that 57% of gambling revenues come from casinos. That shows the great reliance a major part of the population has on casino entertainment. As if that is not enough, Statista suggests that the online casino industry could grow by 4.76% within the next few years, resulting in a market size of about $0.82 billion. Which iGaming company would want to miss out on such growing markets?

Remember that also includes betting companies, as the industry has also been growing alongside the casino sector. In fact, the betting sector alone is expected to grow by a CAGR of 7.66% between 2024 and 2028. That could be one of the reasons why zahraniční sázkové kanceláře are acquiring Czech licenses to also benefit from this market. With these statistics, we can now look at a few platforms with Czech licenses.

Woocasino

Founded in 2020, Woocasino offers a diverse collection of casino games to cater to almost every need. It’s actually one of the few casinos that accept cryptocurrencies and operates in more than 200 countries. For classic theme lovers, this might be a great option. But before playing, always check the RTP.

Spinanga

Spinanga is headquartered in Curacao but operates internationally. And if you want to combine some wagering experience with casino gaming, this platform offers just that. It is also known to be forward-thinking because it allows crypto payments. The platform’s SSL encryption technology ensures you can gamble securely, as your personal and financial information is kept safe from malicious actors.

Bizzo Casino

If you are a crypto gambler, you’ve perhaps heard about Bizzo. It opened its doors in 2021 and belongs to TechSolutions Group, based in Curacao. As long as you have good internet connectivity, registration in this digital hall is a cakewalk requiring less than five minutes. Offering more than 3,000 products from renowned developers, Bizzo ensures every taste is catered for. There are many casino variations, including roulette, blackjack, poker, and vending machines with various themes.

What does the future hold for regulations?

Whether you are a service provider or a gambler, this is definitely a question that does not pass your sight. Just at the beginning of this year (2024), we saw the government introduce major changes to the gambling sector to improve compliance and protect consumers even more.

One of the revolutionary changes was expanding participation in the sector. Now, more foreigners can participate, unlike in the past, when the industry was only limited to Czech citizens. Of course, that means more revenue for the government. Something else you may have noticed is that capital requirements for companies have been increased to about 50,000,000 CZK. This will ensure only financially stable operators join the market.

But wait, there is more. Licensing is much more seamless, comprising two major steps: the initial license and the basic license. Provided you meet the financial and operational requirements, you will not need to go through cumbersome steps to be registered. You also won’t need to repeatedly show your general conditions in case you want to apply for a new game type license.

For players, you will be subjected to tax measures if the difference between your winnings and deposits exceeds 50,000 CZK within a specific tax period. To further ensure that there are minimal cases of problem gambling, operators will have to:

• Offer temporary self-excursion mechanisms
• Tell players about their gambling habits
• Ensure daily deposits and withdrawals are not more than 10,000 CZK

Wrapping up

As you can see, a lot is changing in the Czech gambling industry. For instance, the numbers of those who gamble continue to increase as tech advancements make the entertainment more accessible. That is why bodies like Statista anticipate the industry to grow. So, it should not surprise you at all to see foreign operators like Spinanga launch into the market.

Plus, the government has recently shown its commitment to ensuring a safe and secure gambling environment. Just early this year, it released new amendments to enhance operations for operators and protect users. And who knows? Maybe 2025 will come with other changes to make the industry even much better. But since these are only speculations, you may need to keep a close watch to see what may come up.