Online Gambling in Former Yugoslavia

Since its inception, online gambling has grown exponentially. The internet provides a perfect medium for individuals to play their favorite games and enjoy casino-style experiences. In the first decade of this century, gambling in Europe had a new frontier: Eastern Europe. Now, there are a few countries that have just started to boom with online gambling — Croatia, Bosnia-Herzegovina, Serbia, Macedonia. With favorable licensing conditions and a population hungry to play online games there are plenty of reasons for operators like Folkeriket to explore this country as an opportunity. As more people turn away from traditional gambling establishments (casinos) to online gambling. 

History

Josip Broz Tito was a Yugoslavian general and statesman, who became the first president of Yugoslavia. Josip Broz Tito led the Yugoslav Partisans throughout World War II, which had liberated Yugoslavia from German rule in 1944-1945. He then formed the Socialist Federal Republic of Yugoslavia in 1946 and went on to lead it until his death in 1980. Josip Broz Tito is one of the most famous figures in 20th century history.

Gambling has been present in Yugoslavia since the days of the Ottoman Empire. The Turks used it as a means to increase their income, and also because they did not have much faith in their people’s business skills. Gambling was seen as a way to promote economic growth and development. In 1962, gambling was legalized in former Yugoslavia through an act called “The Law on Games of Chance.” This law introduced two types of games: classical games of chance and special games of chance.

Regulations

Let’s look at regulations in Serbia, a former Yugoslavia territory. The lawmakers have been debating a new bill to regulate the country’s online casinos. The proposal would create an entirely new licensing regime for casino operators and bring the country in line with EU standards. Currently, there are only 21 licensed operators there, compared to over 500 in Spain and more than 1,500 in Italy. The legalization of gambling came about largely due to pressure from the European Union (EU).

In an effort to improve the country’s economic standing, it is considering easing its online casino regulations. Currently, there are only 21 licensed operators and many of them are struggling financially. For example, one operator has reported a decrease in profits from 50% to 70%.

Licensing System

The gambling industry is not just thriving, it’s flourishing. The process of getting a gambling license in former Yugoslavia territories is fairly simple, with the minimal requirements for application being share capital of €250K, a bank deposit or guarantee of €300K and a daily risk cash deposit of €10K. The land-based casino license fee is €500K per year while the online casino license costs only €2,5K per month. An operator can apply for as many licenses as it would like and they are valid for 10 years.

Gambler’s Brain: How People Are Hooked

In the gambling brain, neuroscientists are studying how gamblers get hooked. A lot of people who gamble know that they should stop but can’t resist it. They say that they just keep on losing and lose more money than they had planned to spend. In order to understand why this happens, scientists use different methods like fMRI scans to find out what is happening in the gambler’s brain when he or she plays a game. 

Dr. Clark, who directs the center and was awarded an honorary doctorate by Cambridge University, is studying how the brain reacts to gambling games, with the aim of developing better treatment for the people. A Gambler’s brain is a term used to describe the brain structure of someone who has an addiction to wagering. Recent advances in technology are assisting scientists to better understand how these features of gambling games are so efficient in keeping continued play. At the Wolfson Brain Imaging Centre, thanks to volunteers, the prominent Dr Clark may use functional magnetic resonance imaging to gauge patterns of the gamblers’ brain activity. 

It has shown that a reliable pattern of brain activity near the center occurs when thrill-seekers receive monetary prizes.

What Players Like

Online casinos are everywhere these days. All the trusted companies that lead the way in providing premier-quality games have:  

• Slots 
• Poker 
• Craps 
• Blackjack