Gaming Market Insights Series #14: Bosnia and Herzegovina — Sizzling Hot Pot Of Eastern Europe
Bosnia and Herzegovina (BiH) represents a distinctive blend of cultures and ethnic groups as the intriguing rendezvous between the East and the West. This country also homes what is probably the world’s most complicated governance system. The political structure is unfortunately yet to be unified. Bosnia and Herzegovina consists of two entities, Republika Srpska and the Federation of Bosnia and Herzegovina and a third region.
Will political change signal economic advance?
Though Bosnia and Herzegovina is seeing economic improvement on gradual basis, the economy has recently experienced a modest growth of 1.4% in Q2’2016 , lower than 1.9% back in Q1’2016. Slower growth in agriculture, financial and insurance activities — the key underpinning industries can resonate with the recent stagnant economy. On the political front, the nationalist party just achieved an important victory in local elections back on the 2nd of October, which is expected to bring about major transformation to the country’s economic and political wires.
Opening up to gambling
Gambling industry in Bosnia and Herzegovina has inevitably been shaped by the economic downturn, unstable political system, and societal polarization.
Surprisingly, online gambling is quite well regulated in Bosnia and Herzegovina, compared to most countries on the Balkan Peninsula. Republika Srpska issued the first online gambling license in 2011 to a sports betting company — Williams. Since then, two more companies acquired license by BIH authority. Playing on foreign online gambling sites is also not restricted in Republika Srpska.
Traditional or land-based gambling is legal in Bosnia and Herzegovina. The country hosts two casinos, two lottery operators and numerous sports betting shops. The official regulator of gambling (including online gambling) in Bosnia and Herzegovina is the Republicka Uprava Za Igre Na Srecu (Republic Administration for Games of Chance). However, recently lawmakers in Bosnia and Herzegovina have passed a draft law that would levy a 10 percent tax on betting and lottery winnings, which might lead to the shutdown of several gambling premises and reduced share of land-based gambling.
Lottery
Bosnia’s Lottery group, Lutrija BiH operates several games including Loto 6/42, TV Bingo, Toto 13, Joker, Golf Lottery, Express Lottery and Instant Lottery. The group also operates 10 slot clubs in Bosnia and Herzegovina, the majority of which operate video poker games, multiplayer roulette games and even its own instant lottery games. No online lottery games are available in the country. Bosnian Herzegovinian gamblers who want to join online gambling are allowed to get access to foreign sites, though this was briefly banned in the Federation of Bosnia and Herzegovina.
Future Outlook
The country is now on the threshold of major changes in politics, economy and gambling and lottery realms. The inherited relaxing mentality and vibe as with lottery and gambling are fundamentally conducive to extensive opportunities for online lottery and other types of gambling empowered by new technologies such as Blockchain, cryptocurrency and Smart contracts.
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