The parliament of Albania states that it has approved the delay of voting on regulatory changes to life the ban on online sports betting. Albania implemented this five years ago along with a complete prohibition on gambling.
All 75 lawmakers present endorsed a postponement request by Bledi Cuci. Cuci is the head of the socialist parliamentary group.
The economy ministry stated in documents that they are proposing to lift the ban on online sports betting in an attempt to halt its spread in the illicit market.
We will only grant licenses to 10 companies that already possess previous experience in the betting industry.
Albania’s parliament voted to remove gambling from residential areas to limit its spread in 2018. In spite of this, many of the shops have continued to operate in secret.
Three licensed companies mainly carried out sports betting in cafe chains before the ban. With a total of 4, 214 sports bets in cafes in the Albanian territory in 2018, it was a very popular leisure activity in the country.
Official figures showed that Albanians used to spend up to 150 million euro or $161 million annually on sports betting prior to the ban. Nonetheless, the number rises to 700 million euro if illegal bets are included.
For reference, 1 euro is equal to 1.08 dollar.