January 1st Marks the Re-opening of Online Sports Betting in Albania

TIRANA, Albania (December 7, 2022) — From January 1, 2023, online sports betting will reopen. This is announced in the draft budget of 2023, which foresees the reintroduction of online sports betting into the legislation. From the law approving of ‘sports betting’ games of chance, with effect from January 1, 2023, it is estimated that 2 billion ALL will be collected in the state budget in taxes per year.

December 31, 2018 was the last day that betting was allowed in Albania. But even after this decision of the government, the phenomenon of sports betting did not disappear, as very often, in the police announcements, arrestees who exercise illegal activity in the field of sports betting or other categories of gambling are declared.

The Ministry of Finance and Economy has published the draft budget for 2023, where expenses are expected to reach a record level of 5.3 billion euros. 1 billion more than previously announced. Also, the draft budget foresees an additional tax for those electricity producers who will export.

This tax, was implemented in 1946 (when Albania was under communism), and according to forecasts, it will bring about 71 million euros to the budget. Also, the Ministry of Finance has calculated that the budget deficit will decrease to 472 million euros, or calculated differently around 2.6% of GDP.

According to the draft budget, the institutions that will have the largest increase in available funds will be the Ministry of Defense with 7.6 billion ALL, as well as the Ministry of Infrastructure and Energy with 7.3 billion ALL. which was implemented in 1946 (when Albania was under communism) and according to forecasts, it will bring about 71 million euros to the budget.

Also, the Ministry of Finance has calculated that the budget deficit will decrease to 472 million euros, or calculated differently around 2.6% of GDP.

According to the draft budget, the institutions that will have the largest increase in available funds will be the Ministry of Defense with 7.6 billion ALL, as well as the Ministry of Infrastructure and Energy with 7.3 billion ALL. which was implemented in 1946 (when Albania was under communism) and according to forecasts, it will bring about 71 million euros to the budget.

Also, the Ministry of Finance has calculated that the budget deficit will decrease to 472 million euros, or calculated differently around 2.6% of GDP.

According to the draft budget, the institutions that will have the largest increase in available funds will be the Ministry of Defense with 7.6 billion ALL, as well as the Ministry of Infrastructure and Energy with 7.3 billion ALL.

SOURCE: SotNews.