Casinos.co.uk: Casino News Archive
Monday 23rd August 2004
Legislative changes in Israel allowing gambling on sports
Although online gambling remains illegal in Israel, some recent developments indicate that change may be possible in the future. The economic and social cabinet of the country have just agreed to legalise gambling on horse racing. The development of racing tracks in the north and south regions of Israel have just been approved, and will include the facility for betting on outcomes at the tracks.
The next step is for legislative changes to be made which will reverse the standing prohibitive position on gambling on sports. The reasons behind making this significant change both legally and in government attitudes towards gambling have been primarily economic ones. The Minister for Agriculture, Yisrael Katz, was the first to propose the changes, believing that such a move would help to boost the economy of rural Israel.
The first track is to be built in the Gilboa region, north Israel, and then one is planned to follow in the south. The government are hoping that the new industry will encourage some of the country’s businessmen to invest funds in raising horses- and as a result help to establish veterinary facilities, provide riding schools and services, ultimately resulting in new jobs for the country, helping the economy overall in these two regions.
The whole pursuit will be supervised and regulated by the government. The treasury department have backed the proposed changes since they were first made, and say that the tender for the first racetrack will be issued within the next six months. It is a marked development in the country’s stance on gambling, and is an indicator that the government is becoming open to the potential economic gains to be made from gambling operations.
Source:OnlineCasinoNews
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