Online Casino / Licenses / Slovak Ministry of Finance

Slovak Ministry of Finance

The Slovak Finance Ministry (SMF) is the government division responsible for regulating online gambling, issuing licenses, and enforcing compliance for digital sportsbooks and online casino websites.

Since Slovakia is not a place known for online gambling, it doesn’t have an overwhelming demand for licenses. However, several reputable online casinos have acquired a license in the region. Licensed casinos must follow strict regulations in the country.

The finance ministry is also responsible for enforcement, ensuring that the country’s bettors are protected from disreputable casinos. As a result, the Ministry ensures that all licensed casinos adhere to the country’s gambling regulations, operate with integrity, and maintain transparency.

Online Casinos Licensed by the SMF About the Slovak Ministry of Finance License

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Online Casinos Licensed by the SMF

DOXX Bet casino and sportsbook initially began operations in 1994. An essential part of Slovakia’s gambling infrastructure, the bookie developed hundreds of betting shops across the country. Stepping into online gambling in 2007, the casino offered Slovakian citizens live betting, poker, and sports betting at the casino before closing in 2017.

Tipsport Slovakia continues operations by partnering with premium brands and offering interactive and unique digital content. The company is a licensed casino that focuses on growth and expansion.

Licensed online casinos must follow strict security protocols. Even international casinos that apply for licensing must meet license provisions. These include high standards for gamer safety, game fairness, and the prevention of gambling addiction.

The Slovak Finance Ministry works diligently to ensure the safety of the players. It is recognized as one of the safest places to gamble in Europe.

Any casino meeting the Slovak Finance Ministry regulations for safety and fees may qualify for licensure. Although not many operators apply for the license, those who do and are approved, provide services that meet a high ethical standard. It’s this trust in the system that sparks interest in gambling among Slovakian gamblers who frequent both offline and online establishments.

About the Slovak Ministry of Finance License

Since 2005, the Gambling Act has regulated online gaming in Slovakia. Digital gaming is permitted and regulated by sections 29 and 9 of the Act. The country’s Finance Ministry requires operating online casinos to keep company servers in Slovakia. Licensed operators must also pay the state 27 percent of the difference between payoffs and accepted bets.

In 2018, the National Council enacted a new betting act, which allows international casino operators to offer gambling to their citizens. It was a first for the country, which accepted the legislation draft of the new gambling act from the region’s Ministry of Finance.

The new Act allows the government to continue its online monopoly on bingo and lotteries. However, it saw the end of the road for state-owned lottery manager, Tipos. The organization received credit protection in 2011 from a district court. It had been losing business to online competition for years.

Tipos also faced a 66 million EUR judgment for trademark infringement, which was awarded by the country’s Supreme Court. It was also in 2011 that the Slovak Finance Ministry rescinded the proposal to block all gambling sites which didn’t have a Slovak license in fear of running afoul of EU laws.