Italy plans to conduct tests on Serie A players.
Italy is set to resume top-level sports, which could be a helping hand for the struggling sports betting sector. This is according to Prime Minister Giuseppe Conte, who believes professional sports could start from the end of May. However, athletes will first have to undergo Covid-19 testing. Reopening of betting shops and casinos is slated for May 18th. Here's a peek at what's in store.
Health as a Priority
The coronavirus has left Italy's gambling sector crippled. With a complete lockdown that includes the suspension of all sports events, the betting industry bears the brunt of it. Since last week, bookmakers have had some good news. Prime Minister Giuseppe Conte mentioned a possible resumption of top-level sports in May.
The soccer matches of Serie A, Italy's highest league, are under the spotlight. There are only 12 games left in the ongoing season. If the players are healthy, these matches could be played without an audience. With health being prioritized over economic considerations, players face a mandatory Covid-19 test.
Gabriele Gravina, president of the Italian football association, commented on the plans. A meeting is set to decide the next steps. Tests will kick off in early May to ensure the players are "Covid-19 negative". It's possible that the season could proceed without a summer break.
Serie A bearing the Brunt
The pause in sports events resulted in a staggering 60% revenue loss for the gambling industry. Brick-and-mortar betting shops saw a 75.3% decrease in revenue, while online gambling providers lost 43%. Serie A, Italy's premier football league, is also facing big losses. The league fears a staggering 700 million euros loss if the championship falls apart.
Recently, Serie A demanded the reintroduction of sports betting sponsorship and advertising to make up for its losses due to the corona crisis. Partnerships with bookmakers could greatly help Italian football recover. This idea is sparked from a ban on sports betting advertising in place since last summer, which is part of the "Dignity Decree" from July 2018. This measure has been criticized by the industry.
Luigi De Siervo, Serie A's CEO, stated that the teams lose between 100 and 150 million euros annually without sports betting sponsorship. This puts Serie A at a disadvantage compared to other major European leagues like La Liga (Spain) and the Premier League (England). The Italian government has not yet responded to this demand.
With the advertising ban due to the pandemic, it might soon become a topic of public debate. A cancellation would certainly provide a vital revenue stream for the Italian sports sector. Moreover, the treasury would benefit from higher tax revenues. For now, the results of the planned player tests remain to be seen.
When will the betting shops reopen?
Giuseppe Conte reveals that leisure facilities such as betting shops, bingo halls, and gaming halls will remain closed at least until May 3rd. The lockdown is set to be lifted in phases, so betting shops, among other institutions, are likely to be allowed to reopen from May 18th. However, strict security conditions will be enforced, such as wearing face masks and limiting personnel.
The gambling sector in Italy contributes around 4% to the Italian Gross Domestic Product (GDP). There are over 40,000 registered slot machines in the country. Italians spent approximately 18.9 billion euros on various gambling activities in 2018, with the state collecting 10.4 billion euros in taxes.
Tax exemption for gambling operators
In the current crisis, the state is giving back to the industry. In mid-March, the Italian government injected 25 billion euros into the economy as a rescue package. Gambling operators were partially exempted from tax liability for some time. They still need to apply to the tax office. This could also include the suspension of social security contributions and mandatory insurance.
According to Giuseppe Conte, more rescue packages are coming. This is the "first step" the government is taking to save the industry. Further developments will depend on the EU's support. Italy has seen over 21,000 deaths due to the pandemic, indicating a gradual return to normalcy.
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Source: www.onlinecasinosdeutschland.com
