Bulgaria gambling regulations to improve results

Amendments to local regulations in Bulgaria would raise gambling transfers to the Sports Ministry, the authorities say.

Bulgaria.- The Bulgarian Gambling Act will finally see its amendments entry into force by mid-2020. According to the State-owned Bulgarian Sports Totalizator (BST), they’d be highly beneficial for state coffers.

According to the BST, Bulgarian gambling transfers to the Sports Ministry would increase. That would mean much more money would go into sports federations, clubs and related organisations.

Bulgaria’s Finance Minister Vladislav Goranov said that Bulgaria is seeking a gambling monopoly, instead of nationalising existing companies, Sofia Globe reported. This move would bring extra revenue and support to the Bulgarian sport sector.

The Bulgarian National Lottery claimed in a statement that the nationalisation of private business is an unacceptable precedent that will lead to irreversible consequences for the state, legislative and executive branches.

“The market should not be growing for the sake of it, because in gambling, one’s spending is another’s revenue. We witness how with their last money, especially at petrol stations and it is staggering, people re-fuel for 10 leva and spend 20 leva on gambling,” Goranov said to the Bulgarian National Radio.

Goranov wants a new State Gambling Commission

The Minister said that they’re also interested in restructuring the State Gambling Commission. A recent analysis by the Finance Ministry unveiled contradictory decisions over the years, showing accumulated faults that need to be fixed.