Serie A Requires Advertising for Betting
Italy's most prominent soccer league, Serie A, penned a missive to the government asking for the ban on betting promotion and advertisement imposed in 2019 to be relieved. The aim of this endeavor is to salvage Italian soccer in the aftermath of the COVID-19 pandemic. Reversing the ban could lead to millions in profit. What progress might be made?
Financial losses of up to 700 million euros
Via a request letter, Serie A proposed a plan to the Italian government to face the financial consequences linked to the world's COVID-19 predicament. A withdrawal of the betting sponsorship and advertising restriction with international gambling service providers from summer 2019 was put forth for deliberation.
Reportedly, such a shift could provide a significant boost to Italian soccer's recuperation. The correspondence from Serie A offers a long-term solution to make the league fiscally fit as swiftly as possible. At present, all Serie A matches have been deferred until next April. Nevertheless, as the coronavirus has come to a standstill in Italy, more postponements are imminent.
La Repubblica, an Italian newspaper, mentioned that Serie A's fiscal losses currently exceed 200 million euros. The possibility of the championship's cancellation may result in losses estimated to be between 650 and 700 million euros. "Football needs to exit this complex state unscathed," noted Gabriele Gravina, the President of the Italian Football Federation FIGC (Federazione Italiana Giuoco Calcio).
Italian soccer's apparent route forward
Gravina went on to elucidate that lifting the advertising ban is but one of several alternatives under review by Serie A. The underlying objective is to "find meaning amidst these trying times." The health crisis has provided an opportunity to reevaluate our relationships with one another. Therefore, introducing fresh concepts to shape soccer into a stronger entity is imminent.
Repealing the advertising ban is thus an efficient approach to generate income right away. Moreover, implementing a soccer savings fund is imperative, not only for the clubs, but for the entire soccer ecosystem. The sector is prepared to unite and offer realistic resolutions. With regards to current developments, it was declared:
"No one is under any misconceptions about what lies ahead. I am anxious about the wreckage the crisis will leave behind. Not just fractures need to be mended, but also the system."
Whether and how far the government will react to this request remains to be seen. Serie A will continue to advocate for its viewpoint. In Gravina's opinion, some preliminary accords among the teams are required for this. Consultations with the players are planned to hike awareness. The aim is to establish a principle of camaraderie. The administration can't be asked for aid if there's no inter-team unity.
Advertising ban despite licensing
Italy enacted one of Europe's strictest bans on gambling advertising in July 2018, commonly known as the "Decree of Dignity," sponsored by Italy's Minister of Economy Luigi Di Maio. Although several acknowledged operators were not offered license renewals, those that continue to operate still cannot promote their services. The exemption is Italy's national lottery. According to the government, the law isn't designed to suppress gambling, but only to "forbid public promotion."
Suspension of the cancellation urged
The decree also restricted betting partnerships in Italian sports. To allow the leagues to adjust to the transition, the clubs were exempted from the ban until next July. From that date, all cultural insignia, enticement offerings, and betting marketing projects were to be banned.
Luigi De Siervo, CEO of Serie A, posited that Italian premier teams stand to lose between €100 million and €150 million euros yearly due to the termination of gambling alliances. This renders Serie A noncompetitive in comparison to renowned European leagues like the Primera Division (Spain) or Premier League (England).
The draconian measure was extensively held up for debate in Italy. Among others, the Italian supervisory body AGCOM announced in newspapers that the advertising ban should be suspended. The ban would not check addiction, reinforce the unregulated industry, and damage the sports and media industry.
However, the ban on promotion in Italian sport could resurface due to the COVID-19 crisis. A government remark in this regard is highly anticipated. There's no debate that a cancellation might create a lucrative profit source for the sports realm. Conversely, the state stands to gain increased tax revenue.
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Source: www.onlinecasinosdeutschland.com
