16-August-2009

News agency BGNES reported Tuesday that Bulgaria has lost billions of leva due to illegal online gambling. The Lev is Bulgaria’s national currency.

In its report the news agency cited data from Bulgaria’s State Gambling Commission on national losses to illegal online gambling operators. The country, the report said, lost 500 million leva ($320 million) in 2006, 700 million in 2007 and 1 billion in 2008.

The report went on to say that the commission expects national losses to reach 1.5 billion leva in 2009.

Bulgarian Finance Minister Plamen Oresharski projected last year that the country’s gross domestic product for 2009 would reach $52 billion. However, since the announcement Bulgaria’s GDP has contracted 3.5 percent.

BGNES quoted commission spokesman Simeon Simeonov as saying the companies responsible for these losses are unlicensed. Simeonov went on to say that Bulgarian authorities have fined each violator several times.

Alexander Tumparov, deputy chairman of the Bulgarian Association for Entertainment and Gambling Games, said the unlicensed companies are in violation of nine national laws. Tumparov, BGNES noted, made these remarks while speaking at a bookmarking seminar sponsored by unlicensed operator Betsafe.

By: Phill Provance
phill.provance@acehoyle.com

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